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Before we start, allow me to explain some of the terminologies of the passive income globe. There are 2 kinds of passive income: Active and Residual. If youre planning to earn some serious money, youre going to need both of them together.
Residual Passive Income: This type of income is one of the secrets to success in your online business and can be successful if you manage to build a supply of residual income. Residual income is the type of income where you earn a monthly commission for the selling youve made.
For instance, if an agency pays you $25 in residual commissions, referring 100 individuals will make you $2,500 per month without doing any work. 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 kind of money you earn by selling a product, or 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 your purchase. This 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 best passive income flow is one which gives you both residual and active income and so were going to talk about a couple of approaches to create that kind of incomes online.
The number 1 is your most dangerous number in the world of business. Building a passive income stream that pays you in one source or a business that's getting most of its visitors and earnings from one platform can be extremely dangerous. It will leave your business in a vulnerable position and a sudden shift in a search engine or an advertising platform can destroy your entire business overnight.
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So before a knockout post we dip down into the world of passive income opportunities, Allow Me to give you a list of things Im going to teach you here:
Im going to begin with the easiest passive income strategy, then we'll dive deeper into building a business that pays you big commissions daily.
The passive income plan Im about to discuss with you is used by companies like Amazon and Apple and its own called affiliate marketing. In this strategy, an affiliate (you) will market a product using their own special tracking link and when a sale is made, they will earn a cut, usually %5 to 50 percent depending on the product and the company selling that product. .
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The affiliate marketing was popularized by Amazon but these days, Amazons affiliate program isnt the most popular one. Normally, affiliates earn 50% commissions on sites like Clickbank (that we will talk about soon) but even thats not the most lucrative affiliate program you can join.
High ticket affiliate applications for example Aversity will cover around $3,000 per purchase to affiliates. All these are specific applications that arent generally open to everyone. We'll explore different top ticket affiliate programs as we proceed down into this report.
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I could write an entire article to deal with this problem in the online business world. If you stick to a few of those so-called YouTube professionals, all youll see is their luxury cars and horses which may give you the impression that you can begin a simple affiliate marketing business and rake in $20,000 in a week.
Building an online business takes time but with the ideal approach, your journey wont be as painful as mine was. When I started my online business 6 years ago, it took me 9 months to earn my initial $25 commission. Im not asking you to work 9 months for a $25 commission, but I dont want you image source to think itll be fast.
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To answer the long term question: How much money you can earn in 6 months, I'll need to discuss different business strategies since in the event that you use the approaches that Im planning to discuss here, you can go well beyond the $20,000 per month goal in no time.
In order to earn $20,000 per month in passive income, you'll need to earn $20,000 in commissions by an affiliate network. An average network like Clickbank pays affiliates $10 to $100 a sale. If you earn $25 on average per purchase, youll need 800 sales to attain your income objective.