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Before we begin, let me 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 earn some serious money, youre going to need both of them together.
Residual Passive Income: This type 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 in which you earn a monthly commission for the sale youve made.
By way of example, 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 percent of Aversity Gold Masterclass members earn residual incomes from goods theyve sold.
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Active Passive Income: This is the type 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 the purchase. This has its own pros and cons which Im not going to get into, but everything depends on how much money youll earn from every purchase. .
The best passive income flow is one which gives you both residual and active income and were going to speak about a couple of ways to create 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 supply or a business that is getting the majority of its visitors and earnings from one platform 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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So before we dive 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 begin with the easiest passive income plan, then we will dive deeper into building a business that pays big commissions daily.
The passive income plan Im about to share with you is utilized 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 %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. Normally, affiliates earn 50% commissions on websites like Clickbank (which we'll talk about soon) but even thats not the very lucrative affiliate program you can join.
High ticket affiliate applications like Aversity will cover up to $3,000 per sale to affiliates. These are special applications that arent generally open to everyone. We'll explore different top ticket affiliate applications as we move down into this article.
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I could this 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 might 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 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 I dont want you to think itll be fast.
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To answer the long term question: How much money you can earn in 6 months, I'll need to go over different business strategies since if you apply the strategies that Im about to discuss here, you can go well beyond the $20,000 a month target in no time.
In order to make $20,000 per month in passive income, you'll need to earn $20,000 in commissions from an affiliate network. An normal network like 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.