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Before we begin, allow me to explain some of the terminologies of this passive income globe. 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 secrets to success in your online business and can be successful if you manage to construct a source of residual income. Residual income is the form of income in which you earn a monthly commission for the selling youve made.
For instance, if an agency pays you $25 in residual commissions, referring 100 individuals will make you $2,500 per month without doing any job. Approximately 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 residual and active income is that active passive income is a one-time compensation and you dont keep earning commissions from your purchase. 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 purchase. .
The best passive income stream is one which provides 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 very dangerous number in the realm of business. Building a passive income stream that pays you from one source or a business that's getting the majority of its visitors and sales 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 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 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 used by companies like Amazon and Apple and its 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, typically %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 nowadays, Amazons affiliate application isnt the hottest one. Normally, affiliates earn 50% commissions on sites like Clickbank (that we'll discuss soon) but even thats not the very lucrative affiliate program you can join.
High ticket affiliate programs like Aversity will cover around $3,000 per purchase to affiliates. All these are specific applications that arent generally open for everyone. We will explore different top ticket affiliate applications as we proceed down into this report.
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I could write an entire article to deal with this issue in the online business world. If you follow some of those so-called YouTube professionals, 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 check my site rake in $20,000 in 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 first $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 terms question: How much money you can earn in 6 months, I'll need my explanation to discuss different business strategies because in the event that you use the approaches that Im about to discuss here, you can go well beyond the $20,000 per month goal in no time.
In order to make $20,000 per month in passive income, you will need to earn $20,000 in commissions by an affiliate network. An average network like Clickbank pays affiliates $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 earnings to attain your income goal.
