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Before we start, allow me to explain some of the terminologies of this passive income world. There are just two 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 kind of income is one of the keys to success in your online business and can be powerful if you manage to construct a supply of residual income. Residual income is the type of income in which 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% 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 active income is that busy passive income is a one-time compensation and also you dont keep earning commissions from the sale. It has its own pros and cons which Im not going to get into, but everything depends on how much money youll earn from every sale. .
The best passive income flow is one which provides 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 most dangerous number in the world of business. Building a passive income stream that pays you from one supply or a business that's getting the majority of its visitors 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 advertising platform can destroy your entire business overnight.
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So before we dip down into the world of passive income opportunities, let me give you a list of things Im going to teach you here:
Im going to get started with the simplest passive income strategy, then we will dive deeper into building a business which pays big commissions every day.
The passive income strategy Im going to discuss with you is utilized by companies like Amazon and Apple and its affiliate marketing. In this approach, an affiliate (you) will market a product using their own unique tracking link and when a sale is made, they will earn a cut, typically %5 to 50% 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 application isnt the hottest one. Normally, affiliates earn 50% commissions on sites like Clickbank (that we will discuss soon) but even thats not the very rewarding affiliate program you can join.
High ticket affiliate programs for example Aversity will cover around $3,000 per sale to affiliates. All these are specific applications that arent usually open for everyone. We will explore different top ticket affiliate programs as we move down into this report.
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I could write an entire article to address this issue in the online business world. If you stick to some of the so-called YouTube gurus, all youll see is that their luxury cars and horses which might provide you the impression which 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 right approach, your journey recommended you read wont be as painful as mine was. When I started my online business 6 decades ago, it took me 9 months to earn my first $25 commission. Im not asking you to work 9 months to get a $25 commission, but I dont want you to think itll be fast.
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To answer the long terms question: Just how much money you can earn in 6 months, I will need to go over different business strategies because if you use the strategies that Im planning to discuss here, you can go well beyond the $20,000 per month goal in no time.
In order to click to read earn $20,000 a month in passive income, you will need to earn $20,000 in commissions from an affiliate network. An average network like Clickbank pays $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 earnings to achieve your income goal.