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Before we begin, allow me to explain a few of the terminologies of this passive income globe. There are 2 types of passive income: Lively and Residual. If youre planning to make some serious money, youre going to need both of these 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 supply of residual income. Residual income is the form of income in which you earn a monthly commission for the selling youve made.
For example, if an agency pays $25 in residual commissions, referring 100 people will make you $2,500 per 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 a service. The main difference between residual 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 each purchase. .
The greatest passive income stream is one that provides you both residual and active income and so were going to talk about a couple of approaches to make that kind of incomes online.
The number 1 is your very dangerous number in the world of business. Building a passive income stream that pays you from one supply or a business that's getting most of its traffic 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 advertising platform can kill 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 using the easiest passive income strategy, then we will dive deeper into building a business that pays you big commissions every day.
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 promote a product using their own unique tracking link and when a purchase 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 nowadays, Amazons affiliate application isnt the most popular one. Usually, affiliates earn 50% commissions on websites like Clickbank (that 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 sale to affiliates. These are specific programs that arent usually open for everyone. We'll explore different high ticket affiliate programs as we proceed down into this article.
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I could write an entire post to deal with this issue in the online business world. If you follow a few of those so-called YouTube gurus, all youll see is that their luxury cars and horses which may give you the impression that you can begin a simple affiliate marketing business and rake in $20,000 in a week.
Building an online business takes 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 first $25 commission. Im not asking you to operate 9 months to get a $25 commission, but read what he said 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 since if you use the strategies that Im planning to share here, you can go well beyond the $20,000 per 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 from an affiliate network. An normal network like Clickbank pays $10 to $100 a sale. If you earn $25 on average per purchase, youll need 800 sales Learn More Here to attain your income goal.
