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Before we begin, let me explain some of the terminologies of the passive income globe. 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 kind of income is one of the keys to success in your online business and can be successful if you manage to build a supply of residual income. Residual income is the type of income in which you earn a monthly commission for the sale youve made.
For example, if an agency pays you $25 in residual commissions, referring 100 people will make you $2,500 per month without doing any work. About 30% of Aversity Gold Masterclass members earn residual incomes from goods theyve sold.
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Active Passive Income: This is the kind 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 purchase. It has its own pros and cons which Im not going to get into, but everything depends on how much money youll earn from each purchase. .
The greatest passive income stream is one which provides you both residual and active income and 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 realm of business. Building a passive income stream that pays you in one supply or a business that's getting most of its traffic 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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So before we dive 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 begin using the easiest passive income plan, then we'll dive deeper into building a business which pays big commissions every day.
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 approach, an affiliate (you) will market a product using their own unique 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 application isnt the most popular 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 applications like Aversity will pay around $3,000 per purchase to affiliates. All these are special applications that arent generally open for everyone. We will explore different high ticket affiliate applications as we move down into this article.
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I could write an entire post to address this issue in the online business world. If you stick to a few of those so-called YouTube gurus, all youll see is their luxury cars and horses which may give you the impression which you can start a simple affiliate marketing business and rake in $20,000 in weekly.
Building an online business takes some time but with the right approach, your journey wont be as painful as mine was. When I started my online business 6 decades 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 that 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 will need to go over different business strategies because in the event that you use the approaches that Im planning to share here, you can go well beyond the $20,000 per month target in no time.
In order to earn $20,000 a month in passive income, you will need to earn $20,000 in commissions from an affiliate network. An average network like Clickbank pays affiliates $10 to $100 a sale. If you earn $25 on average per purchase, youll need 800 earnings to achieve your income goal.
