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Before we start, let me explain a few of the terminologies of this passive income world. There are 2 types 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 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 sale youve made.
By way of instance, if an agency 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 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 residual and active income is that active passive income is a one-time compensation and you dont keep earning commissions from the 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 each purchase. .
The best passive income flow is one that gives you both residual and busy income and so were going to talk about a few approaches to create that kind of incomes online.
The number 1 is the very dangerous number in the realm of business. Building a passive income stream that pays you in one supply or a business that's getting the majority of its traffic and earnings 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 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 begin with the simplest passive income see page strategy, then we will dive deeper into building a business which pays big commissions daily.
The passive income strategy Im about to discuss with you is used by companies like Amazon and Apple and its own affiliate marketing. In this approach, an Check This Out affiliate (you) will promote a product using their own unique tracking link and when a sale is made, they will earn a reduction, usually percent 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 the most popular one. Normally, affiliates earn 50% commissions on websites like Clickbank (which we will talk about soon) but even thats not the most lucrative affiliate program you can join.
High ticket affiliate programs for example Aversity will pay around $3,000 per purchase to affiliates. These are specific programs that arent generally open for everyone. We'll explore different top ticket affiliate applications as we move down into this article.
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I could write an entire post to address this problem in the online business world. If you follow some of those so-called YouTube gurus, all youll see is their luxury cars and horses which may give you the impression that you can start a simple affiliate marketing business and rake in $20,000 in a week.
Building an online business takes some time but with the ideal strategy, your journey wont be as painful as mine was. When I started my online business 6 decades back, it took me 9 months to earn my first $25 commission. Im not asking you to work 9 months to get a $25 commission, but that I dont want you to think itll be quick.
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To answer the long terms question: How much money you can earn in 6 months, I'll need to go over different business strategies since in the discover this event that you use the approaches that Im planning to share 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 will need to earn $20,000 in commissions by an affiliate network. An normal network like Clickbank pays $10 to $100 a sale. If you earn $25 on average per purchase, youll need 800 earnings to attain your income goal.
