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Before we begin, allow me to explain a few of the terminologies of the passive income world. There are just two kinds of passive income: Lively 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 construct 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 instance, if a service pays you $25 in residual commissions, referring 100 individuals will make you $2,500 per month without doing any job. About 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 residual and active 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 it all depends on how much money youll earn from each purchase. .
The best passive income flow is one which provides you both residual and busy income and were going to speak about a couple of ways to create that kind of incomes online.
The number 1 is your 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 most of its traffic and earnings from one platform can be terribly 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 dive down into the world of passive income opportunities, Allow Me to give you a listing of things Im going to teach you here:
Im going to begin using the simplest passive income strategy, then we will dive deeper into building a business that pays big commissions every day.
The passive income plan Im about to share with you is site link 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 a purchase is made, they will earn a cut, typically percent 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 most popular one. Usually, affiliates earn 50% commissions on websites like Clickbank (that we will talk about soon) but even thats not the very lucrative affiliate program you can join.
High ticket affiliate applications like Aversity will pay around $3,000 per purchase to affiliates. All these are specific programs that arent usually open for everyone. We'll explore different top ticket affiliate applications as we move down into this article.
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I could write an entire post to address this problem in the online business world. If you follow a few of those 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 time but with the ideal approach, 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 I dont want you to think itll be quick.
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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 in the event that you apply the approaches that Im about 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 will 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 objective.
