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Before we start, let me explain some of the terminologies of the passive income globe. There are 2 kinds 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 kind 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 where you earn a monthly commission for the sale youve made.
For instance, if a service pays you $25 in residual commissions, referring 100 individuals will make you $2,500 per month without doing any job. About 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 even 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 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 purchase. .
The greatest passive income stream is one which provides you both residual and active income and so were going to talk about a few approaches 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 traffic and earnings 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 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 list of things Im going to teach you :
Im going to begin using the easiest passive income plan, then we will dive deeper into building a business which pays you big commissions daily.
The passive income plan Im going to discuss 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 sale is made, they will earn a reduction, typically %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. Normally, affiliates helpful resources earn 50% commissions on sites like Clickbank (which we will 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. All these are specific applications that arent generally open to everyone. We'll explore different high ticket affiliate applications as we move down into this article.
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I could write an entire article to address this issue in the online business world. If you stick to a few of those so-called YouTube professionals, all youll see is their luxury cars and horses which might 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 time but with the ideal strategy, your journey wont be as painful as mine was. When I began my online business 6 years ago, 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 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 because if you apply the strategies that Im planning to discuss here, you can go well beyond the $20,000 per 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 by 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 attain your income objective.
Its important to know what Im about to educate here will make a massive difference in how much you'll be making in the future so be sure you read this very carefully.