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Before we begin, let me explain a few of the terminologies of this passive income world. 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 type of income is one of the keys to success in your online business and can be powerful if you manage to build a supply of residual income. Residual income is the type of income where you earn a monthly commission for the sale youve made.
For example, if a service pays you $25 in residual commissions, referring 100 people will make you $2,500 a 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 a service. The main difference between residual and busy income is that busy passive income is a one-time compensation and also 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 sale. .
The greatest passive income flow is one that provides you both residual and active income and were going to talk about a few approaches to create that kind of incomes online.
The number 1 is the most dangerous number in the realm of business. Building a passive income stream that pays you in one source or a business that is getting most of its traffic and sales 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 advertising platform can kill 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 here:
Im going to get started with the simplest passive income strategy, then we'll dive deeper into building a business that pays big commissions every day.
The passive income strategy Im about to discuss with you is used by companies like Amazon and Apple and its own called 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 reduction, usually %5 to 50% depending on the solution and the company selling that discover here 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 (that we will discuss soon) but even thats not the very lucrative affiliate program you can join.
High ticket affiliate applications for example Aversity will pay around $3,000 per sale to affiliates. All these are specific programs that arent usually open for everyone. We will explore different top ticket affiliate programs as we move down into this report.
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I could write an entire post to deal with this issue in the online business world. If you stick to a few of try this site those so-called YouTube professionals, all youll see is that their luxury cars and horses which might provide 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 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 click reference $25 commission, but I dont want you to think itll be fast.
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To answer the long term question: Just how much money you can earn in 6 months, I will need to discuss different business strategies because in the event that you apply the approaches that Im planning to discuss here, you can go well beyond the $20,000 per month goal in no time.
In order to make $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 $10 to $100 a sale. Should you earn $25 on average per purchase, youll need 800 sales to attain your income goal.
Its important to know what Im going to teach here will make a massive difference in how far you will be making in future so be sure that you read this very carefully.