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Before we begin, let me explain a few of the terminologies of this passive income world. There are just two types 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 successful if you manage to build a source of residual income. Residual income is the form of income in which you earn a monthly commission for the selling youve made.
By way of instance, if an agency pays you $25 in residual commissions, referring 100 individuals will make you $2,500 per 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 type 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 your 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 each sale. .
The best passive income stream is one which provides you both residual and busy income and were going to talk about a few ways to make 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 from one supply or a business that's getting the majority of its visitors and sales 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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Before we dip down into the world of passive income opportunities, let me give you a listing of things Im going to teach you :
Im going to get started using the easiest passive income strategy, then we will 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 companies like Amazon and Apple and its called affiliate marketing. In this strategy, an affiliate (you) will promote a product using their own special tracking link and when a sale is made, they will earn a cut, usually %5 to 50% 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 most popular one. Usually, affiliates earn 50% commissions on websites like Clickbank (which we'll talk about soon) but even thats not the most lucrative affiliate program you can join.
High ticket affiliate programs for example Aversity will our website cover around $3,000 per sale to affiliates. These are special applications that arent generally open for everyone. We will explore different high ticket affiliate applications as we proceed down into this article.
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I could write an entire post to deal with this issue in the online business world. If you follow a few of those so-called YouTube gurus, all youll see is their luxury cars and horses which may provide you the impression which you can start a simple affiliate marketing business and rake in $20,000 in a week.
Building an online business takes some more info here time but with the right approach, 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 operate 9 months for a $25 commission, but that 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 use the approaches 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 a month in passive income, you'll need to earn $20,000 in commissions from an affiliate network. An normal network like Clickbank pays $10 to $100 a sale. Should you earn $25 on average per sale, youll need 800 earnings to achieve your income objective.