How to make Money while You Sleep
Do you remember in the past we were warned to be careful about being in debt because interest never stopped charging us, interest never slept, never took a day off, never took a holiday. Well the reverse is true, as well.
with that in mind, here are 10 ways that you can actually earn money while you sleep.
- START A BLOG
Perhaps the most popular way to earn a passive income is by launching your own blog. It only takes a couple of minutes to set up and is cheap to start - just purchase your domain name and pay for hosting.
After that, start creating amazing content that people would be interested in reading or sharing. For example, if you're an accountant that has helped small business owners with their taxes, then that could be your blog. I personally have my invoicing blog to help customers know everything there is to know about invoicing. This draws thousands of signups a month.
Make sure the topics you write about are popular. If you still love your pet rock, i doubt there would be enough people visiting your our site to monetize it. But, you never know.
2.SELL YOUR OWN INFORMATION PRODUCT
If you're knowledgeable in a certain area, then you can start creating products, such as eBooks or videos, and selling them on your blog. It may take a lot of work to create and market your products, but once all the leg work is over, you can just set back and collect the proceeds.
3.EARN ROYALTIES
If you're a talented musician, actor, or author, then you could earn royalties from work in other words people will pay you for using your work or creative assets.
If you aren't talented enough, but still interested in earning royalties, then check out royal exchange. It's a marketplace where you can buy and sell royalties.
4.CREATE A MEMBERSHIP COMMUNITY
If you've proven yourself to be authority figure, then you can create a membership community where you pay a monthly fee to receive additional high-quality content and information that's not available to non-members.
one of my favorite examples is Timothy Sykes who makes more than $100,000 per month in passive how people can make money in trading penny stocks.
5.INSTALL AN AUTORESPONDER
Another common online business model is using autoresponders to sell service, products or memberships. This is where people leave their email address on your site and then they'll receive an automated email containing the link to download products or quality information you have to offer, as well as follow-up with a series of emails.
You'll need service like OptinMonster to make this possible. I also recommend you read this Quick sprout guide to get started with autoresponders.
6.FLIP WEBSITES
If you've put in the time and effort in building a website and you have gained a lot of traffic, then you may be able to sell it to an interested party by listing on marketplaces like Flippa. I've bought and sold a lot of sites here and made a lot of money.
7.SELL PHYSICAL PRODUCTS
Just like with a blogging site, there are several ways to earn a passive income by selling physical products. Probably one of the best known ways is by selling your old junk on eBay. But even if you don't have anything left to sell you can start drop shopping. This where you sell products for a company on eBay or Amazon and they'll take care of the rest-including shipping.
You can also launch your own eCommerce store by using Shopify. They literally give you everything you need to sell products online from a complete online shop to including buy buttons on your social media channels.
8.HIRE A MIDDLEMAN
This is also know as arbitrage and is basically where you have someone else do the work for you. For example, you could start a dog walking or coding to someone else. You're much better doing anything being the middleman who is in charge of marketing these services.
9.PEER-TO-PEER LENDING
Companies like LendingClub, Propser, and Harmoney have created a new industry where anyone can become a lender. They will then match you with a consumer who either prefers or has trouble securing a loan from a bank. you can earn a higher interest rates on the loans you issued since you're dealing directly with the borrower.
10.Rent out property
Thanks to Airbnb, you can rent out your home while on vacation or your vacation hone when not is use. You can also rent out your garage, parking space, or unused office space. It's a nice supplemental income without really doing anything except placing an ad.
Great post! I have never tried Airbnb though, thanks for mentioning it. Next time I visit San Diego I will go to an unused office space and supplement my income with really doing anything. dope.
In my opinion, network marketing is actually a great way to build residual income. You just have to make sure you join a legitimate business. Lot's of scams disguise themselves as network marketing.
dropshipping is also a great way. no products no inventory. you just have to do the marketing
There are many more, but these are the only ones that come to mind right now. Great post!