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Before we start, allow me to explain some of the terminologies of this passive income globe. There are 2 types of passive income: Active and Residual. If youre planning to earn some serious money, youre going to need both of these together.
Residual Passive Income: This type of income is one of the keys 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 selling youve made.
For instance, if an agency pays you $25 in residual commissions, referring 100 people will make you $2,500 a month without doing any job. Approximately 30 percent 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 even a service. The main difference between residual and busy income is that busy passive income is a one-time compensation and also you dont keep earning commissions from your sale. This 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 sale. .
The greatest passive income stream is one that provides you both residual and busy income and so were going to talk about a few ways to make that kind of incomes online.
The number 1 is the very dangerous number in the realm of business. Building a passive income stream that pays you from one source or a business that is getting the majority of its visitors and sales from one platform 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 kill 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 listing of things Im going to teach you here:
Im going to begin using the simplest passive income strategy, then we will dive deeper into building a business which pays big commissions every day.
The passive income plan Im going to discuss with you is utilized by companies like Amazon and Apple and its own affiliate marketing. In this strategy, an affiliate (you) will promote a product using their own special tracking link and when a purchase is made, they will earn a reduction, typically percent 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. Normally, affiliates earn 50% commissions on websites like Clickbank (that we will talk about soon) but even thats not the most lucrative affiliate program you can join.
High ticket affiliate programs like Aversity will pay up to $3,000 per sale to affiliates. These are special programs that arent usually open to everyone. We will explore different high ticket affiliate programs as we move down into this report.
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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 cars and horses which may give you the impression that 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 ideal strategy, 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 initial $25 commission. Im not asking you to operate 9 months for a $25 commission, but 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 earn in 6 months, I'll need to discuss different business strategies because in the event that you use the approaches that Im planning to share here, you can go well beyond the $20,000 a month goal in no time.
In order to make $20,000 a month in passive income, you will need to earn $20,000 in commissions by an affiliate network. An normal network like Clickbank pays affiliates $10 to $100 a sale. Should you earn $25 on average per purchase, youll need 800 sales to attain your income objective.
