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Before we start, allow me to explain some of the terminologies of this passive income world. There are just two kinds of passive income: Active and Residual. If youre planning to earn some serious money, youre going to need both of these together.
Residual Passive Income: This kind 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 type of income where you earn a monthly commission for the selling 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% 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 staying and busy income is that active passive income is a one-time compensation and also you dont keep earning commissions from the sale. This has its own pros and cons which Im not going to get into, but everything depends on how much money youll earn from every sale. .
The greatest passive income stream is one that provides you both residual and active income and so were going to speak about a few ways to make that kind of incomes online.
The number 1 is your very dangerous number in the world of business. Building a passive income stream that pays you in one source or a business that is getting most of its visitors and sales from one stage 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 dive down into the world of passive income opportunities, Allow Me to give you a listing of things Im going to teach you here:
Im going to begin with the simplest passive income plan, then we will dive deeper into building a business which pays you big commissions every day.
The passive income plan Im about to share 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, typically %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 click over here the hottest one. Normally, affiliates earn 50% commissions on websites like Clickbank (which we'll discuss soon) but even thats not the very lucrative 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 applications that arent generally open to everyone. We will explore different high ticket affiliate programs as we proceed down into this report.
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I could write an entire article to address this issue in the online business world. If you stick to some of the so-called YouTube gurus, all youll see is that their luxury cars and horses which may provide you the impression that 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 ideal 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 first $25 commission. Im not asking you to work 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: Just 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 share 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'll need to earn $20,000 in commissions from an affiliate network. An average network like Clickbank pays affiliates $10 to $100 a sale. Should you earn $25 on average per purchase, youll need 800 sales to achieve your income goal.
Its important to know what Im going to teach here will make a massive difference in how far you'll be making in the future so be sure you read this very carefully.