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Before we start, let me explain some of the terminologies of the passive income world. There are just two types of passive income: Lively 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 powerful if you manage to construct a source of residual income. Residual income is the type of income where you earn a monthly commission for the selling youve made.
For instance, if an agency pays $25 in residual commissions, referring 100 individuals will make you $2,500 per month without doing any work. 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 a service. The main difference between residual and active income is that busy passive income is a one-time compensation and also 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 each purchase. .
The best passive income stream is one which provides you both residual and busy income and so were going to talk about a couple of approaches to create that kind of incomes online.
The number 1 is the very dangerous number in the world of business. Building a passive income stream that pays you from one source or a business that is getting most of its visitors 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 ad platform can kill 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 list of things Im going to teach you :
Im going to get started with the easiest passive income plan, then we will dive deeper into building a business that pays big commissions daily.
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 approach, an affiliate (you) will promote a product using their own special tracking link and when a sale is made, they will earn a reduction, 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 these days, Amazons affiliate program isnt the hottest one. Usually, affiliates earn 50% commissions on websites like Clickbank (which we will discuss soon) but even thats not the most rewarding affiliate program you can join.
High ticket affiliate programs for example Aversity will cover up to $3,000 per sale to affiliates. All these are specific programs that arent usually open for everyone. We'll explore different top ticket affiliate applications as we proceed down into this article.
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I could write an entire post to address this problem in the online business world. If you follow a few of the so-called Read Full Report YouTube professionals, all youll see is that their luxury cars and horses which may give 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 approach, your journey wont be as painful as mine was. When I started my online business 6 decades ago, it took me 9 months to earn my initial $25 commission. Im not asking you to operate 9 months for a $25 commission, but that 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 basics earn in 6 months, I'll need to discuss different business strategies since if you apply the approaches that Im planning to discuss here, you can go well beyond the $20,000 per month goal in no time.
In order to make $20,000 per month in passive income, you'll need to earn $20,000 in commissions Clicking Here from an affiliate network. An normal network such as Clickbank pays $10 to $100 a sale. If you earn $25 on average per purchase, youll need 800 sales to attain your income goal.
