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Before we begin, let me explain some of the terminologies of the passive income globe. There are 2 kinds of passive income: Active 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 powerful if you manage to construct a supply 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 $25 in residual commissions, referring 100 individuals will make you $2,500 a 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 active income is that active passive income is a one-time compensation and you dont keep earning commissions from the 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 every sale. .
The best passive income stream is one that gives you both residual and active income and were going to speak about a few ways to create that kind of incomes online.
The number 1 is your very dangerous number in the realm of business. Building a passive income stream that pays you in one source or a business that is getting most of its traffic 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 destroy your entire business overnight.
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So 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 :
Im going to get started using the easiest passive income plan, then we'll dive deeper into building a business that pays you big commissions every day.
The passive income strategy Im going to discuss with you is utilized by companies like Amazon and Apple and its called affiliate marketing. In this approach, an affiliate (you) will promote a product using their own special tracking link and when a purchase is made, they will earn a reduction, 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 program isnt the most popular one. Normally, affiliates earn 50% commissions on websites like Clickbank (which we'll talk about soon) but even thats not the very rewarding affiliate program you can join.
High ticket affiliate applications for example Aversity will cover around $3,000 per purchase to affiliates. All these are specific applications that arent usually open for everyone. We'll explore different top ticket affiliate programs as we move down into this article.
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I could write an entire post to address this issue in the online business world. If you follow some of the so-called YouTube gurus, all youll see is their luxury cars and horses which might 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 time but with the right strategy, your journey wont be as painful as mine was. When I started 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 quick.
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To answer the long terms question: Just how much money you can earn in 6 months, I will need to go over different business strategies because if my sources you use the strategies that Im planning to discuss here, you can check this go well beyond the $20,000 per month target in no time.
In order to earn $20,000 per month in passive income, you'll need to earn $20,000 in commissions by an affiliate network. An average network like Clickbank pays $10 to $100 a sale. Should you earn $25 on average per purchase, youll need 800 sales to attain your income objective.
