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Before we begin, allow me to explain some of the terminologies of this passive income globe. There are 2 kinds of passive income: Lively and Residual. If youre planning to earn 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 build a source of residual income. Residual income is the type of income in which you earn a monthly commission for the selling youve made.
For example, if an agency pays $25 in residual commissions, referring 100 people will make you $2,500 a month without doing any job. About 30% of Aversity Gold Masterclass members earn residual incomes from products 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 active income is that busy passive income is a one-time compensation and also you dont keep earning commissions from the purchase. This has its own pros and cons which Im not going to get into, but it all depends on how much money youll earn from each sale. .
The best passive income stream is one that gives you both residual and busy income and were going to speak about a few ways to make 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 from one supply or a business that's getting the majority of its visitors and earnings 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 here:
Im going to get started using the easiest passive income strategy, then we will dive deeper into building a business which pays you big commissions every day.
The passive income strategy Im about to share with you is used by companies like Amazon and Apple and its own called affiliate marketing. In this approach, an affiliate (you) will market a product using their own special tracking link and when best site a purchase is made, they will earn a reduction, usually %5 to 50 percent depending on the solution and the company selling that product. .
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The affiliate marketing was popularized by Amazon but nowadays, Amazons affiliate application isnt the most popular one. Normally, affiliates earn 50% commissions on sites like Clickbank (which we'll talk about soon) but even thats not the most lucrative affiliate program you can join.
High ticket affiliate programs for example Aversity will pay around $3,000 per purchase to affiliates. All these are specific programs that arent usually open to everyone. We'll explore different high ticket affiliate applications as we move down into this report.
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I could write an entire post to deal with this problem in the online business world. If you follow a few of the so-called YouTube gurus, all youll see is their luxury cars and horses which may provide you the impression that you can start a simple affiliate marketing business helpful hints and rake in $20,000 in weekly.
Building an online business takes some time but with the ideal approach, your journey wont be as painful as mine was. When I started my online business 6 decades back, it took me 9 months to earn my first $25 commission. Im not asking you to operate 9 months to get a $25 commission, but I dont want you to think itll be quick.
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To answer the long term question: Just how much money you can earn in 6 months, I will need to discuss different business strategies because in the event that you use the approaches that Im planning to discuss here, you can go well beyond the $20,000 a month goal in no time.
In order to make $20,000 per month in passive income, you will need to earn $20,000 in commissions from an affiliate network. An average network such as Clickbank pays affiliates $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 earnings to achieve your income goal.
