Is there such a thing as making money while you’re asleep? Doesn’t it sound too good to be true? In today’s world, where we live in the age of the interest. We’re always eager to earn some extra money on the side.
With that in mind, here are 8 ways that you can earn money while you sleep.
- Kick start a blog
Do you want to gain popularity while earning a passive income? Then starting a blog is a way to go. It only takes a couple of minutes to setup and is cost-effective. Once you have a blog, you can create astonishing content that people would be interested in reading and sharing. The topics that you write about should be popular and engaging. Once you’ve gained a following, you can start making money from of your blog by:
Earning commissions as an affiliate. This is where you push other people’s products or services on your site. Make sure these products or services are relevant to your blog. For example, that accounting blog could become an affiliate for accounting or invoicing software. Once you find an affiliate partner you’ll be given a unique code so that whenever a visitor clicks that link on your site you’ll earn your commission.
- Sell Physical Products
If you are well versed in a certain area of interest, start creating products for example eBooks or videos and promote and sell them on your platform. However, it may take time to create and market your products but once it is all done, you can sit back and collect the loyalties.
You could also sell your old junk on eBay. But even if you don’t have anything left to sell you can start drop shopping. Drop shopping is the practice 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.
- Receive Loyalties
Earn loyalties from your creative work from being a musician, actor, or an author. You can check out Royalty Exchange, if you are interested in earning loyalties through your talents. Royalty Exchange is a marketplace where you can buy and sell royalties.
- Create a membership community
If you are an important figure, then 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. An example would be Timothy Sykes who makes more than $100,000 per month in passive income through his membership community which discusses how people can make money in trading penny stocks.
- Install an autoresponder
What is an autoresponder? It is a program that automatically generates a set response to all messages sent to a particular e-mail address. An autoresponder is another common online business model is using autoresponders to sell services, 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 should offer, as well as follow-up with a series of emails. You’ll a need service like OptinMonster to make this possible.
- Exchange and Sell Websites as You Go
Gaining a lot of traffic on your site? 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. Flippa is a marketplace for buying and selling websites, domain names and iOS apps, based in Melbourne, Australia and San Francisco.
- Spend time investing in stocks or shares
You become a stakeholder when you invest on stocks. You are able to share of their profits when you are a stakeholder. What’s popular? Investing on stocks for sure! And with the help of the internet, it’s much easier than ever to research and invest in stocks of your own.
- Rent out possessions
You can always rent out your possessions such as landed properties by renting them out your home while on vacation or your vacation home when not in 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 advertisement.