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Before we start, allow me to explain a few of the terminologies of this passive income world. There are just two kinds of passive income: Lively and Residual. If youre planning to make some serious money, youre going to need both of them together.
Residual Passive Income: This kind of income is one of the keys to success in your online business and can be successful if you manage to build a source of residual income. Residual income is the type of income where you earn a monthly commission for the selling youve made.
For instance, if a service pays $25 in residual commissions, referring 100 people will make you $2,500 per month without doing any work. About 30 percent of Aversity Gold Masterclass members earn residual incomes from products theyve sold.
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Active Passive Income: This is the kind 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 also 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 every sale. .
The best passive income stream is one that provides you both residual and busy income and so were going to talk about a couple of approaches to make that kind of incomes online.
The number 1 is the very dangerous number in the realm 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 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 kill your entire business overnight.
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Before we dive 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 get started with the easiest passive income strategy, then we'll dive deeper into building a business which pays big commissions daily.
The passive income strategy Im about to discuss with you is utilized by companies like Amazon and Apple and its called affiliate marketing. In this strategy, an affiliate (you) will promote a product using their own unique tracking link and when a purchase is made, they will earn a reduction, usually percent 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 nowadays, Amazons affiliate program isnt the hottest one. Normally, affiliates earn 50% commissions on sites like Clickbank (that we'll discuss soon) but even thats not the very lucrative affiliate program you can join.
High ticket affiliate applications for example Aversity will cover around $3,000 per sale to affiliates. All these are specific programs that arent usually open to 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 post to address this problem in the online business world. If you stick to some of those so-called YouTube gurus, all youll see is that their luxury cars and horses which may give 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 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 initial $25 commission. Im not asking you to operate 9 months for a $25 commission, but that I dont want you to next think itll be quick. continue reading this
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To answer the long term question: How much money you can earn in 6 months, I will need to go over different business strategies because if you apply the strategies that Im about to discuss here, you can go well beyond the $20,000 per month target in no time.
In order to earn $20,000 per month in passive income, you will need to earn $20,000 in commissions by an affiliate network. An normal network such as Clickbank pays $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 sales to attain your income objective.