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Before we begin, let me explain some of the terminologies of the passive income globe. There are 2 types of passive income: Active 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 powerful if you manage to construct a supply of residual income. Residual income is the type of income in which you earn a monthly commission for the selling youve made.
For instance, if a service pays $25 in residual commissions, referring 100 people will make you $2,500 per 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 type of money you earn by selling a product, or a service. The main difference between staying and busy income is that active passive income is a one-time compensation and also you dont keep earning commissions from your 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 talk about a few 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 in one source or a business that's getting most of its visitors and sales 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 destroy your entire business overnight.
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So before we dip down into the world of passive income opportunities, let me give you a list of things Im going to teach you :
Im going to get started with the simplest passive income strategy, then we'll dive deeper into building a business which pays you big commissions daily.
The passive income plan Im going to discuss with you is utilized by companies like Amazon and Apple and its own called affiliate marketing. In this strategy, an affiliate (you) will market 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 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 talk about soon) but even thats not the most rewarding affiliate program you can join.
High ticket affiliate programs like Aversity will pay around $3,000 per sale to affiliates. These are special programs that arent usually open for everyone. We will explore different high ticket affiliate applications as we move down into this report.
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I could write an their website entire post to address this issue in the online business world. If you stick to a few of the so-called YouTube gurus, all youll see is 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 right approach, 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 that I dont want you to think itll be fast.
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To answer the long term question: Just how much money you can earn in 6 months, I'll need to go over different business strategies since in the event that you use the approaches that Im about to discuss here, useful source 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. Should you earn $25 on average per purchase, youll need 800 sales to achieve your income goal.
Its important to know what Im about to teach here will make a massive difference in how much you will be making in the future so make sure that you read this very carefully.