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Before we start, allow me to explain some of the terminologies of the passive income world. There are 2 types 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 powerful if you manage to construct a supply of residual income. Residual income is the type of income where you earn a monthly commission for the sale youve made.
By way of example, if a service pays you $25 in residual commissions, referring 100 people will make you $2,500 a 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 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 your purchase. 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 each sale. .
The best passive income flow is one which provides you both residual and busy income and so were going to speak about a couple of approaches to make that kind of incomes online.
The number 1 is the most dangerous number in the world of business. Building a passive income stream that pays you from one source or a business that's getting the majority of its traffic 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 destroy your entire business overnight.
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Before we dip 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 get started using the simplest passive income plan, then we will dive deeper into building a business which pays you big commissions daily.
The passive income strategy Im about to share with you is 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 reduction, usually %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 these days, Amazons affiliate program isnt the hottest one. Normally, affiliates earn 50% commissions on sites like Clickbank (which we'll discuss soon) but even thats not the most rewarding affiliate program you can join.
High ticket affiliate programs for example Aversity will pay up to $3,000 per purchase to affiliates. These are special programs that arent usually open for everyone. We will explore different top ticket affiliate programs as we move down into this article.
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I could write an entire article to address this issue in the online business world. If you stick to a few of those so-called YouTube professionals, all youll see is that their luxury cars and horses which may provide you the impression which 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 right strategy, 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 work 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 you can find out more question: How much money you can earn in 6 months, I'll need to discuss different business strategies because if you use the approaches 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'll 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 achieve your income goal.
