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Before we start, allow me to explain a few of the terminologies of this passive income world. There are 2 kinds of passive income: Lively 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 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 where you earn a monthly commission for the sale youve made.
For instance, if an agency pays you $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 goods 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 active income is that active 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 it all depends on how much money youll earn from every purchase. .
The best passive income flow is one that gives you both residual and busy income and were going to speak about a few approaches 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 in one source or a business that's getting the majority 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 ad platform can destroy your entire business overnight.
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Before we dip down into the world of passive income opportunities, Allow Me to give you a list of things Im going to teach you :
Im going to begin with the simplest passive income strategy, then we will dive deeper into building a business that pays you big commissions daily.
The passive income strategy Im about to discuss with you is utilized by companies like Amazon and Apple and its own affiliate marketing. In this strategy, an affiliate (you) will market a product using their own special tracking link and when a sale is made, they will earn a reduction, typically percent 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 nowadays, Amazons affiliate application isnt the most popular one. Usually, affiliates earn 50% commissions on sites like Clickbank (that we'll talk about soon) but even thats not the most lucrative affiliate program you can join.
High ticket affiliate applications for example Aversity will pay up to $3,000 per sale to affiliates. These are specific applications that arent usually open to everyone. We will explore different top ticket affiliate applications as we proceed down into this report.
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I could write an entire post to address this Discover More issue in the online business world. If you stick to a few of those so-called YouTube gurus, all youll see is their luxury cars and horses which might give you the impression that you can begin a simple affiliate marketing business 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 began my online business 6 decades back, it took me 9 months to earn my initial $25 commission. Im not asking you to operate 9 months to get 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 will need to discuss different business strategies because if you apply 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 earn $20,000 a month in passive income, you will need to earn $20,000 in commissions from an affiliate network. An average network such as Clickbank pays $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 sales to achieve your income objective.