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Before we begin, let me explain some 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 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 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 instance, if a service pays you $25 in residual commissions, referring 100 people will make you $2,500 per 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 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 every sale. .
The best passive income flow is one that provides you both residual and busy income and so were going to talk about a couple of approaches to make 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's getting most of its visitors and earnings 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 dip down into the world of passive income opportunities, Allow Me to give you a list of things Im going to teach you here:
Im going to get started using the simplest passive income strategy, then we will dive deeper into building a business which pays you big commissions daily.
The passive income plan Im about to share with you is utilized by companies like Amazon and Apple and its own affiliate marketing. In this strategy, an affiliate (you) will market a product using their own unique tracking link and when a sale is made, they will earn a reduction, usually percent 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 most popular one. Usually, affiliates earn 50% commissions on sites like Clickbank (that we'll talk about soon) but even thats not the very lucrative affiliate program you can join.
High ticket affiliate programs for example Aversity will cover around $3,000 per sale to affiliates. All check these are special applications 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 post to deal with this issue in the online business world. If you stick to a few of the so-called YouTube professionals, all youll see is their luxury cars and horses which might give you the impression that you can start a simple affiliate marketing business and rake in $20,000 in i was reading this a week.
Building an online business takes time but with the right approach, your journey wont be as painful as mine was. When I started 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 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 will need to go over different business strategies because if you use the approaches that Im about to share here, you can go well beyond the $20,000 per month target in no time.
In order to make $20,000 per month in passive income, you will need to earn $20,000 in commissions from an affiliate network. An normal network such as Clickbank pays $10 to $100 a sale. If you earn $25 on average per purchase, youll need 800 earnings to attain your income goal.