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Before we begin, allow me to explain some of the terminologies of the passive income world. There are just two 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 type of income is one of the secrets to success in your online business and can be successful if you manage to construct a source 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 a month without doing any work. 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 a service. The main difference between residual and active income is that active 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 best passive income stream is one which provides you both residual and busy income and so were going to speak about a few ways to make that kind of incomes online.
The number 1 is your very dangerous number in the realm of business. Building a passive income stream that pays you from one source or a business that is getting most of its traffic 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 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 list of things Im going to teach you here:
Im over at this website going to begin with the simplest passive income strategy, then we'll dive deeper into building a business which pays big commissions daily.
The passive income strategy Im going to share with you is used by companies like Amazon and Apple and its own called affiliate marketing. In this strategy, an affiliate (you) will promote a product using their own unique tracking link and when a sale is made, they will earn a reduction, typically 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. Usually, affiliates earn 50% commissions on sites like Clickbank (that we'll talk about soon) but even thats not the most rewarding affiliate program you can join.
High ticket affiliate applications for example Aversity will pay around $3,000 per purchase to affiliates. All these are specific programs that arent usually open to everyone. We will explore different top ticket affiliate programs as we proceed down into this article.
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I could write an entire article to deal with this problem in the online business world. If you follow a few of those so-called YouTube professionals, all youll see is that their luxury cars and horses which might provide you the impression which 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 began 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 fast.
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To answer the long terms question: 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 about to discuss here, 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 will need to earn $20,000 in commissions by an affiliate network. An normal network such as Clickbank pays affiliates $10 to $100 a sale. Should you earn $25 on average continue reading this per sale, youll need 800 earnings to achieve your income objective.