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Before we begin, let me explain a few of the terminologies of the 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 kind of income is one of the secrets to success in your online business and can be successful if you manage to construct a supply 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 an agency pays you $25 in residual commissions, referring 100 individuals will make you $2,500 a month without doing any work. 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 type of money you earn by selling a product, or even 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 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 every purchase. .
The best passive income flow is one which gives you both residual and busy income and so were going to speak about a couple of approaches to create 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 in one supply or a business that is getting the majority of its visitors and sales from one platform 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 going to get started with the simplest passive income plan, then we'll dive deeper into building a business which pays big commissions daily.
The passive income plan Im about to discuss with you is used by companies like Amazon and Apple and its own called affiliate marketing. In this strategy, 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 product. .
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The affiliate marketing was popularized by Amazon but nowadays, Amazons affiliate application isnt the hottest one. Normally, affiliates earn 50% commissions on websites like Clickbank (which we'll talk about soon) but even thats not the most lucrative affiliate program you can join.
High ticket affiliate applications for example Aversity will pay up to $3,000 per purchase to affiliates. All these are specific applications that arent usually open to everyone. We will explore different top ticket affiliate programs as we move down into this article.
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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 that their luxury cars and horses which may provide 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 right approach, 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 that I dont want you to think itll be quick.
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To answer the long terms question: Just how much money you can earn in 6 months, I'll need to discuss different business strategies since if you use look at these guys the approaches that Im about to discuss here, you can go well beyond the $20,000 a 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 average network such as Clickbank pays affiliates $10 to $100 a sale. Should you earn $25 on average per sale, youll need 800 earnings to achieve your income objective.