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Before we start, let me explain some of the terminologies of this passive income world. There are 2 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 kind of income is one of the secrets to success in your online business and can be powerful if you manage to build a source of residual income. Residual income is the form of income where you earn a monthly commission for the selling youve made.
By way of instance, if an agency pays $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 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 residual and busy income is that busy passive income is a one-time compensation and you dont keep earning commissions from your sale. 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 which gives you both residual and active income and so were going to talk about a few approaches to create that kind of incomes online.
The number 1 is the very 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 traffic and sales from one stage can be terribly 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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So before we dip down into the read review world of passive income opportunities, let me give you a listing of things Im going to teach you :
Im going to begin with the simplest passive income plan, then we'll 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 affiliate marketing. In this strategy, an affiliate (you) will market a product using their own unique tracking link and when a sale is made, they will earn a cut, usually %5 to 50% depending on the solution 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. Usually, affiliates earn 50% commissions on websites like Clickbank (that we'll talk about soon) but browse around these guys even thats not the very rewarding affiliate program you can join.
High ticket affiliate programs like Aversity will cover around $3,000 per sale to affiliates. All these are special applications that arent generally open to everyone. We will explore different top ticket affiliate programs as we proceed down into this article.
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I could write an entire article to deal with this issue 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 might give you the impression that you can start 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 wont be as painful as mine was. When I began my online business 6 decades 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 that I dont want you to think itll be fast.
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To answer the long terms question: How much money you can earn in 6 months, I'll need to go over different business strategies since in the event that you apply the strategies that Im about to share here, you can go well beyond the $20,000 a month goal in no time.
In order to earn $20,000 a month in passive income, you'll need to earn $20,000 in commissions by an affiliate network. An normal network such as Clickbank pays affiliates $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 sales to achieve your income objective.