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Before we start, allow me to explain some of the terminologies of the passive income world. 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 kind of income is one of the secrets 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 in which you earn a monthly commission for the sale youve made.
For instance, if an agency pays you $25 in residual commissions, referring 100 individuals will make you $2,500 per month without doing any work. About 30% 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 even a service. The main difference between staying and active 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 each sale. .
The best passive income flow is one which gives you both residual and active income and were going to speak 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 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'll dive deeper into building a business that pays you big commissions every day.
The passive income plan Im about to share with you is used by companies like Amazon and Apple and its own affiliate marketing. In this strategy, an affiliate (you) will market a product using their own special tracking link and when a purchase is made, they will earn a reduction, usually %5 to 50 percent 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. Usually, affiliates earn 50% commissions on websites like Clickbank (which we'll discuss soon) but even thats not the most rewarding affiliate program you can join.
High ticket affiliate programs for example Aversity will cover go now up to $3,000 per purchase to affiliates. All these are special applications that arent usually open to everyone. We'll explore different top ticket affiliate applications as we move down into this article.
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I could write an entire article to deal with this issue in the online business world. If you stick to some of the so-called YouTube gurus, all youll see is their luxury cars and horses which may provide 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 started my online business 6 years back, it took me 9 months to earn my first $25 commission. Im not asking you to work 9 months for a $25 commission, but 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 will need to discuss different business strategies because if you use the strategies that Im about to share here, you can go well beyond the $20,000 a month goal in no time.
In order to earn $20,000 a month in passive income, you will need to earn $20,000 in commissions from an affiliate network. An normal network such as Clickbank pays $10 to $100 a sale. Should you earn $25 on average per purchase, youll need 800 sales to attain your income click resources objective.
