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Before we start, allow me to explain some of the terminologies of this passive income world. 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.
For example, if an agency pays you $25 in residual commissions, referring 100 individuals will make you $2,500 a 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 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 you dont keep earning commissions from your 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 stream is one which provides you both residual and active income and were going to speak about a couple of ways to create that kind of incomes online.
The number 1 is your most dangerous number in the realm of business. Building a passive income stream that pays you from one source or a business that's getting the majority of its traffic and earnings from one stage can be extremely dangerous. It will leave your business in a vulnerable position and a sudden shift in a search engine or an advertising platform can destroy your entire business overnight.
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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 begin with the easiest passive income strategy, then we'll dive deeper into building a business which pays you big commissions daily.
The passive income strategy Im about to discuss with you is utilized by companies like Amazon and Apple and its own affiliate marketing. In this approach, an affiliate (you) will market a product using their own special tracking link and when a sale is made, they will earn a cut, typically %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 program isnt the most popular one. Usually, affiliates earn 50% commissions on websites like Clickbank (that we will talk about soon) but even thats not the most rewarding affiliate program you can join.
High ticket affiliate applications for example Aversity will cover around $3,000 per purchase to affiliates. These are specific applications that arent generally open to everyone. We will explore different top ticket affiliate applications as we move 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 some of those so-called YouTube professionals, all youll see is that their luxury address cars and horses which might provide you the impression that 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 ideal strategy, your journey wont be as painful as mine was. When I began my online business 6 decades back, it took me 9 months to earn my first $25 commission. Im not asking you to operate 9 months to get a $25 commission, but that I dont want you to think itll be fast.
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To answer the long term question: How much money you can earn in 6 months, I'll need to discuss different business strategies because in the event that you apply the strategies that Im about to share here, you can go well beyond the $20,000 a month target in no time.
In order to make $20,000 a month in passive income, you'll need to earn $20,000 in commissions by an affiliate network. An normal network like Clickbank pays affiliates $10 to $100 a sale. If you earn $25 on average per purchase, youll need 800 sales to achieve your income objective.
