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Before we begin, let me explain some of the terminologies of this 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 these together.
Residual Passive Income: This type of income is one of the secrets to success in your online business and can be successful if you manage to build a supply 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 a service pays $25 in residual commissions, referring 100 individuals will make you $2,500 per month without doing any job. Approximately 30 percent of Aversity Gold Masterclass members earn residual incomes from products theyve sold.
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Active Passive Income: This is the kind of money you earn by selling a product, or a service. The main difference between residual and busy income is that active passive income is a one-time compensation and you dont keep earning commissions from the purchase. It has its own pros and cons which Im not going to get into, but it all depends on how much money youll earn from each purchase. .
The greatest passive income flow is one which provides you both residual and active income and were going to speak about a couple of approaches to create that kind of incomes online.
The number 1 is the 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 the majority of its traffic and earnings 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 destroy 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 :
Im going to begin with the simplest passive income plan, then we will dive deeper into building a business that pays big commissions every day.
The passive income plan Im about to discuss with you is used 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 sale is made, they will earn a reduction, typically %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 these days, Amazons affiliate application isnt the most popular one. Normally, affiliates earn 50% commissions on websites like Clickbank (which we'll talk about soon) but even thats not the very rewarding affiliate program you can join.
High ticket affiliate programs like Aversity will pay up to $3,000 per sale to affiliates. All these are specific programs that arent generally open to everyone. We will explore different high ticket affiliate applications as we move 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 stick to some of those so-called YouTube professionals, all youll see is that their luxury cars and horses which might 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 strategy, your journey wont be as painful as mine was. When I began my online business 6 decades back, it took me 9 months to earn my first $25 commission. Im not asking you to operate 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: Just how much money you can earn in 6 months, I will need to discuss different business strategies since if you use the approaches that Im planning to share here, find more info you can go well beyond the $20,000 per month goal in no time.
In order to earn $20,000 a month in passive income, you'll need to earn $20,000 in commissions from an affiliate network. An normal network such as Clickbank pays affiliates $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 earnings to achieve your income objective.
