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Before we start, allow me to 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 these 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 form 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% 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 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 it all depends on how much money youll earn from every sale. .
The best passive income stream is one which gives you both residual and active income and were going to talk about a couple of ways 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 supply 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 advertising platform can kill your entire business overnight.
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Before we dive down into the world of passive income opportunities, Allow Me to give you a listing of things Im going to teach you :
Im going to get started using the simplest passive Website income strategy, then we will dive deeper into building a business that pays you big commissions every day.
The passive income plan Im going to share with you is utilized by companies like Amazon and Apple and its called 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 cut, usually %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 read this article nowadays, Amazons affiliate program 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 programs for example Aversity will cover around $3,000 per sale to affiliates. These are specific applications that arent usually open for everyone. We'll explore different top ticket affiliate programs as we move down into this article.
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I could write an entire article to deal with this issue in the online business world. If you stick to a few of those so-called YouTube gurus, all youll see is their luxury cars and horses which may provide you the impression which you can start a simple affiliate marketing business and rake in $20,000 in weekly.
Building an online business takes some time but with the right strategy, your journey wont be as painful as mine was. When I began my online business 6 decades ago, it took me 9 months to earn my initial $25 commission. Im not asking you to work 9 months to get a $25 commission, but 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 will need to go over different business strategies because if you apply the strategies that Im planning to discuss here, you can go well beyond the $20,000 per month target in no time.
In order to earn $20,000 per month in advice passive income, you'll need to earn $20,000 in commissions by an affiliate network. An average network like Clickbank pays affiliates $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 sales to achieve your income objective.
