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Before we start, let me explain a few of the terminologies of the passive income world. There are 2 kinds of passive income: Active and Residual. If youre planning to make some serious money, youre going to need both of these together.
Residual Passive Income: This type of income is one of the keys to success in your online business and can be powerful if you manage to construct a source of residual income. Residual income is the type of income in which you earn a monthly commission for the sale youve made.
For instance, if a service pays you $25 in residual commissions, referring 100 individuals will make you $2,500 a month without doing any job. Approximately 30 percent of Aversity Gold Masterclass members earn residual incomes from goods theyve sold.
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Active Passive Income: This is the type of money you earn by selling a product, or even a service. The main difference between staying and busy income is that busy passive income is a one-time compensation and you dont keep earning commissions from the purchase. It has its own pros and cons which Im not going to get into, but everything depends on how much money youll earn from each sale. .
The greatest passive income stream is one which gives you both residual and busy income and were going to talk about a few ways to make that kind of incomes online.
The number 1 is the very dangerous number in the world of business. Building a passive income stream that pays you from one source or a business that is getting the majority of its traffic and sales from one stage can be extremely dangerous. It will leave your business in a vulnerable position and a sudden shift in a search engine or an ad platform can kill your entire business overnight.
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Before we dip down into the world of passive income opportunities, let me give you a list of things Im going to teach you :
Im going to get started with the easiest passive income plan, then we'll dive deeper into building a business which pays big commissions daily.
The passive income plan Im about to share with you is utilized by companies like Amazon and Apple and its own affiliate marketing. In this approach, an affiliate (you) will promote a product using their own special tracking link and when a purchase is made, they will earn a cut, usually %5 to 50% depending on the solution and the company selling that product. .
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The affiliate marketing was popularized by Amazon but these days, Amazons affiliate application isnt the most popular one. Normally, affiliates earn 50% commissions on sites like Clickbank (that we'll talk about soon) but even thats not the very lucrative affiliate program you can join.
High ticket affiliate programs for example Aversity will cover up to $3,000 per purchase to affiliates. These are specific programs that arent generally open for everyone. We'll explore different high ticket affiliate programs as we proceed down into this report.
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I could write an entire post to deal with this issue in the online business world. If you follow some of the so-called YouTube professionals, all youll see is that their luxury cars and horses which may give you the impression which you can start a simple affiliate marketing business and rake in $20,000 in weekly.
Building an online business takes some time but with the right strategy, your journey wont be as painful as mine was. When I began my online business 6 years back, it took me 9 months to earn my first $25 commission. Im not asking you to work 9 months for a $25 commission, but that I dont want you to think itll be quick.
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To answer the long term question: How much money you can earn in 6 months, I will need to discuss different business look at this now strategies because in the event that you apply the approaches that Im planning to share here, you can go well beyond the $20,000 per month goal in no time.
In order to make $20,000 per month in passive income, click for source you'll need to earn $20,000 in commissions from an affiliate network. An normal network like Clickbank pays $10 to $100 a sale. If you earn $25 on average per purchase, youll need 800 sales to achieve your income goal.
