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Before we start, let me explain some of the terminologies of the passive income world. There are 2 kinds 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 kind of income is one of the keys to success in your online business and can be powerful if you manage to construct a source of residual income. Residual income is the type of income in which you earn a monthly commission for the selling youve made.
For instance, if a service pays you $25 in residual commissions, referring 100 people will make you $2,500 per month without doing any job. About 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 even a service. The main difference between staying and active income is that active passive income is a one-time compensation and also you dont keep earning commissions from the purchase. This 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 speak 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 visitors and earnings 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 ad platform can destroy 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 get started using the easiest passive income plan, then we will dive deeper into building a business which pays you big commissions daily.
The passive income strategy Im going to share with you is used by companies like Amazon and Apple and its own affiliate marketing. In this approach, an 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 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 hottest one. Normally, affiliates earn 50% commissions on websites like Clickbank (which we will talk about soon) but even thats not the very rewarding affiliate program you can join.
High ticket affiliate applications for example Aversity will cover around $3,000 per sale to affiliates. All these are specific applications that arent usually open for everyone. We'll explore different top ticket affiliate applications as we proceed down into this report.
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I could write an entire post to address this issue in the online business world. If you stick to some of the so-called YouTube professionals, all youll see is their luxury cars and horses which might give you the impression that you can begin a simple affiliate marketing business and rake in $20,000 in weekly.
Building an online business takes time but with the ideal approach, your journey wont be as painful as mine was. When I continue reading this started my online business 6 years back, it took me 9 months to earn my initial $25 commission. Im not asking you to work 9 months for a $25 commission, but I dont want you to think itll be quick.
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To answer the long term question: Just how much money you can earn in 6 months, I'll need to discuss different business strategies because if you apply the approaches that Im planning to discuss here, you can go well beyond the $20,000 a month goal in no time.
In order to earn $20,000 per month in passive income, you'll need to earn $20,000 in commissions from an affiliate network. An normal network such as Clickbank pays $10 to $100 a sale. Should you earn $25 on average per sale, youll need 800 sales to achieve your income objective.
