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Before we begin, allow me to explain some of the terminologies of this 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 them together.
Residual Passive Income: This kind of income is one of the keys 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 where you earn a monthly commission for the selling youve made.
By way of instance, if a service pays you $25 in residual commissions, referring 100 individuals will make you $2,500 a month without doing any job. About 30% 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 staying and active income is that busy passive income is a one-time compensation and also you dont keep earning commissions from the purchase. It has its own pros and cons which Im not going to get into, but it all depends on how much money youll earn from every purchase. .
The best passive income flow is one which provides you both residual and active income and so were going to talk about a couple of ways to create that kind of incomes online.
The number 1 is the very dangerous number in the world of business. Building a passive income stream that pays you in one source or a business that is getting most 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 kill your entire business overnight.
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So before we dip down into the world of passive income opportunities, Allow Me to give you a list of things Im going to teach you :
Im going to begin using the easiest passive income plan, then we'll dive deeper into building a business that pays big commissions daily.
The passive income strategy Im about to share with you is used by companies like Amazon and Apple and its called affiliate marketing. In this strategy, an affiliate (you) will market a product using their own special tracking link and when a sale is made, they will earn a reduction, usually percent 5 to 50 percent depending on the product and the company selling that product. .
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The affiliate marketing was popularized by Amazon but nowadays, Amazons affiliate program isnt the hottest one. Usually, affiliates earn 50% commissions on websites like Clickbank (which 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 cover up to $3,000 per sale to affiliates. These are special applications that arent usually open to everyone. We will explore different high ticket affiliate applications as we proceed 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 follow some of those so-called YouTube professionals, all youll see is that their luxury cars and horses which may 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 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 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 terms question: How much money you can earn in 6 months, I'll need to go over different business strategies since if you apply the strategies 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 per month in passive income, you'll need to earn $20,000 in commissions by an affiliate network. An average network like Clickbank pays $10 to $100 a sale. Should you earn $25 on average per purchase, youll need 800 earnings to attain your income goal.
Its important to know what Im about to teach here will make a huge difference in how far you'll be making in future view it so make sure that you read this very carefully.