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Before we start, allow me to explain some of the terminologies of this passive income world. There are just two kinds of passive income: Active and Residual. If youre planning to make 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 build a source of residual income. Residual income is the type of income in which you earn a monthly commission for the sale youve made.
By way of example, if an agency pays $25 in residual commissions, referring 100 people will make you $2,500 a month without doing any work. Approximately 30% of Aversity Gold Masterclass members earn residual incomes from goods 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 staying and active income is that busy passive income is a one-time compensation and 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 stream is one which gives you both residual and busy income and so were going to speak about a couple of approaches to make 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 source or a business that's getting most of its visitors and sales 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 ad platform can destroy 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 listing of things Im going to teach you here:
Im going to get started with the simplest passive income strategy, then we will dive deeper into building a business which pays big commissions daily.
The passive income strategy Im about to discuss with you is used by companies like Amazon and Apple and its own affiliate marketing. In this strategy, an affiliate (you) will promote a product using their own unique tracking link and when a purchase is made, they will earn a reduction, usually percent 5 to 50% depending on dig this the product 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. Usually, affiliates earn 50% commissions on websites like Clickbank (that we'll discuss soon) but even thats not the most lucrative affiliate program you can join.
High ticket affiliate applications like Aversity will cover up to $3,000 per purchase to affiliates. These are specific programs that site that arent generally open for everyone. We'll explore different top ticket affiliate applications as we proceed down into this report.
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I could write an entire article to deal with this issue in the online business world. If you stick to some of those so-called YouTube gurus, 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 right approach, your journey wont be as painful as mine was. When I started my online business 6 years back, it took me 9 months to earn my first $25 commission. Im not asking you to work 9 months to get a $25 commission, but I dont want you to think itll be fast.
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To answer the long term question: How much money web you can earn in 6 months, I will need to go over different business strategies since if you apply the approaches that Im planning to share here, you can go well beyond the $20,000 a month target in no time.
In order to make $20,000 per month in passive income, you'll need to earn $20,000 in commissions from an affiliate network. An average network like Clickbank pays $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 earnings to attain your income objective.
