10 Best Ways to Make Money Online while You Sleep – Entrepreneur Life
In Today’s world you need to find alternative ways to find alternative money-generating ideas away from the whole 9 to 5 routine. As Warren buffet said ‘’If you don’t find a way to make money while you sleep, you will work until you die’’.
In today’s fast-changing world the above statement is very applicable. It’s time to work smarter not harder.
You need enough money to sustain a luxurious life and for that, we are trying to give you innovative ideas to make money while you sleep.
When we say make money while you sleep we are talking about passive income where you aren’t actively working for it but have to set it in motion to keep earning and once its set in motion it can continue moving with minimal effort.
All passive income requires initial investment which comes in two forms
Passive income does not come with a magic wand you have to use money and put efforts to earn something be it passive or active.
Without putting forward the two of these things it’s hard to get any gains but with the right ideas and work you can actually make money while you sleep.
1. Start Blogging
The most popular way to earn passive income these days is to start a blog. It does not take much time just a couple of minutes to set up a blog and is cheap to start. All you have to do to set it up is to purchase a domain name and pay for hosting.
After that start creating content of your interest and expertise that will catch the eye of the everyday internet user.
Make sure that the topics you write about are popular. It will earn you many sign ups a month.
Once you have gained a following then you can be starting making money off of your blog.
Affiliate Marketing on your blog
You can later earn a commission as an affiliate by pushing other people’s products or services on your blog.
Make sure the product or services are relevant to your blog. Once you find an affiliate partner then you will be given a unique code so every time someone clicks on the link you will get a commission.
After your blog has enough traffic to become an affiliate then you can also earn money by putting ads on your site.
It may start small like $20 per ad but with the time you can eventually be able to charge triple digits. The only condition is for your site to be of quality content.
Once your site starts to have enough traffic you can also get sponsors. Getting a sponsor is different than getting ads. Sponsorship could be comprised of a one-off piece of sponsored content or could be a permanent logo embedded in your footer.
2. Invest in stocks
Invest in stocks to make money without doing much. When you invest in a stock you become a stakeholder which entitles you a share of the profit. It has been a popular way to earn a passive income for years. Now thanks to the internet it’s way easier to research and invest in stock than before.
The stocks you invest can change throughout the different stages of your life. So do your research before investing in any kind of a stock or a company.
3. Create an online course
Selling online courses is a way to share valuable knowledge/Information with others. Your course should be in the area of your expertise that you are an expert in and have full command on the subject and it should also be something that people would benefit from.
Just like the founders of Laptop empires, Mike Yanda and Bobby Hoyt created the Facebook Side Hustle. Those two are Facebook ad gurus and have earned a lot through it and realized that a course would help others too in learning how to start this profitable side hustle.
Investment in the course takes an effort but the results are worth the efforts and it also ends up giving the audience some genuine real-world help.
By 2021. 2.14 billion people are expected to be shopping online and that will be the highest number ever in online shopping.
Starting an e-commerce store could be a pragmatic idea an E-commerce business with a plate form like Amazon eBay, Shopify can help you earn passive income.
How drop-shipping works.
- Build a website
- Add products to the site from certain manufactures
- When the product is purchased, it ships from the manufacturer not you
- You pay for the products but earn more than the sales price
In dropshipping, all you have to do is build a site and manage it once it’s built and marketed properly. You can start selling products and make money while you sleep.
5. Sell an App
For people with Coding skills creating and selling an app or website is another way to earn passive income. You invest with your skills and the time it takes to build a website or an App. But once you have made it then you can make passive income by selling it forward. Even the Sale of Mobile Apps listed for a buck or two adds up over time.
6. Start a YouTube Channel
Just like a blog you can start a YouTube channel to earn passive income. Many ordinary people have become millionaires by simply making and uploading videos on youtube. Every time a person views your video you make money off of the ads that appear on the site.
Ad revenue: The links and ads on your videos bring viewers to products and services they are interested in and purchase.
Sponsorship: It’s not entirely passive but you get paid in promoting products and companies.
Create your own products: This could be courses you sell through your website etc.
7. Sell Stock Photos
Professional and Amateur photographers can sell your shots to stock photo sites like Shutterstock, SmugMug, iStock, and many more.
You can make 20%-60% of the cost of the downloading content depending on the site.
8. Create a Membership Community
A membership community websites involve people signing up for a fee to get access to extras on the website. It’s a great way to add value to your online courses and earn a little extra without putting in extra work.
9. Design and Sell Custom Merchandise
If you are a creative person and looking for a way to earn some passive income then you can design images to sell on shirts, mugs, posters, phone cases, and more. Once you are done with the designing then you can contact different websites that can create and sell those products for you and you can get your money without going out or working hard for it.
10. Rent out Property
When you invest in real estate, you make money as the value of the property increases and you finally get the money when you sell the said property but in renting out your property you can get passive income as long as you want.
You can rent out the extra room in your home or a vacation home somewhere in the country or out of the country. You can also rent out office spaces or build shops and rent them out for a life time passive income.