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Before we begin, allow me to explain some of the terminologies of the passive income globe. There are just two kinds of passive income: Lively 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 secrets to success in your online business and can be powerful 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 example, if an agency pays you $25 in residual commissions, referring 100 people will make you $2,500 a month without doing any job. 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 residual and active 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 it all depends on how much money youll earn from every sale. .
The greatest passive income flow is one which gives you both residual and busy income and so were going to talk about a couple of approaches to create 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 from one supply or a business that's getting the majority 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, let me give you a list of things Im going to teach you here:
Im going to get started with the easiest passive income plan, then we'll dive deeper into building a business that pays big commissions every day.
The passive income plan Im about to share with you is used by companies like Amazon and Apple and its own affiliate marketing. In this strategy, an affiliate (you) will promote a product using their own special tracking link and when a purchase is made, they will earn a cut, 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 program isnt the most popular one. Normally, affiliates earn 50% commissions on sites like Clickbank (that we'll talk about soon) but even thats not helpful hints the very rewarding affiliate program you can join.
High ticket affiliate programs like Aversity will pay around $3,000 per purchase to affiliates. All these are special programs that arent generally open for everyone. We'll explore different high ticket affiliate programs as we move 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 a few of those so-called YouTube professionals, all youll see is their luxury cars and horses which might give you the impression which 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 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 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 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 earn $20,000 a month in passive income, you'll need to earn $20,000 in commissions by an affiliate network. An normal network such as Clickbank pays affiliates $10 to $100 a sale. Should you earn $25 on average per sale, youll need 800 sales to attain your income goal.
