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Before we start, allow me to explain a few of the terminologies of the 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 type of income is one of the secrets to success in your online business and can be successful 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 sale youve made.
By way of example, if an agency pays $25 in residual commissions, referring 100 people will make you $2,500 per month without doing any work. Approximately 30% 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 even a service. The main difference between staying and busy income is that busy passive income is a one-time compensation and you dont keep earning commissions from the purchase. It 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 that gives you both residual and busy income and were going to speak about a couple of ways 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 in one supply or a business that is getting most of its visitors and earnings 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 advertising platform can destroy 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 :
Im going to begin using the simplest passive income strategy, then we'll dive deeper into building a business which pays big commissions every day.
The passive income strategy Im about to share with you is used by look at this web-site companies like Amazon and Apple and its affiliate marketing. In this approach, an affiliate (you) will market a product using their own unique tracking link and when a purchase is made, they will earn a reduction, typically percent 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 nowadays, Amazons affiliate application isnt the most popular one. Usually, 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 pay around $3,000 per sale to affiliates. These are specific programs that arent usually open to everyone. We'll explore different top ticket affiliate programs as we proceed down into this article.
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I could write an entire article to address this problem in the online business world. If you stick to some of those so-called YouTube gurus, all youll see is that their luxury cars and horses which might provide 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 some time but with the right strategy, your journey wont be as painful as mine was. When I began my online business 6 years ago, it took me 9 months to earn my initial $25 commission. Im not asking you to work 9 months to get 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 discuss different business strategies since if you use the approaches that Im planning to discuss here, you can go well beyond the $20,000 a month goal in no time.
In order to earn $20,000 per month in passive income, you will need to earn $20,000 in commissions by an affiliate network. An normal network like Clickbank pays $10 page to $100 a sale. Should you earn $25 on average per sale, youll need 800 sales to attain your income goal.