Sometimes, trading in your time for money barely seems worth it. Wouldn’t it be awesome if you could understand how to make money while you sleep? Who doesn’t want to make money while they sleep? If you’re going to make a lot of money, it’s easier if you can do it 24/7. Any stream of income you can create that doesn’t require your regular attention will take you a long way towards your goal.
There was this quote Warren Buffett said that sticks to me till this day, “If you don’t find a way to make money while you sleep, you will work until you die.”
So I decided that the best way to understand how this all works is to guide you. These are just a few ideas to get you thinking of ways to start bringing in that passive income.
You could hire an assistant. The idea here is to get the contract for some work that pays reasonably well and then hire someone else to do the job. You pay them less than what you’re getting paid and keep the rest. If you can get enough work, you won’t have to do much, and you can make some money, all while you sleep.
Contracts involving offline work, bookkeeping, landscaping, and many other service businesses, work well with this concept. Your job would be to meet with current clients and get new clients while your assistant does all the service work. Picking up ongoing, monthly contracts is where you make the most money.
Contracts involving online work, such as programming, design, or graphics for websites, the least expensive virtual assistants are typically found in foreign countries where a day’s pay is considerably less than it is here. Many qualified and skilled people worldwide would love to help you out.
Look at marketplaces like elance.com, fiverr.com, upworks.com, and others to obtain your online contracts. There are also marketplaces specifically for workers in foreign countries. An internet search will lead you to all the marketplaces you could use.
You can also create a blog. If you can get readers, you can make money. With a high-traffic site, you can earn a lot from advertising revenue. Pay-per-click ads can amount to a significant income on a popular site.
With that regular audience, you can also sell products and services to them. The products and services don’t even have to be your own! There are probably products related to your blog content that you could sell and take a cut of the proceeds.
Another suggestion is to purchase a small business. Now, this may be more difficult since it does require capital. I bring this up because most people focus on the internet when making money while they sleep. Any small business hiring other people to run it will work. Do you think the owner of 10 McDonald’s franchises is in there flipping burgers? Your own bricks-and-mortar business might be the answer.
I honestly did not believe in this next one for a while; then, I learned how it worked. So my suggestion is to create affiliate websites. This is similar to the blog idea, but an affiliate website is commonly dedicated to selling a single product. Maybe it’s for a diet product or a dating strategy product. By creating a website with valuable content, you can attract people looking to spend money on the type of product that you’re offering.
You can find products on websites like clickbank.com and commissionjunction.com. There is no shortage of products, and you’re sure to find something that you can sell.
My favorite way to make money is to write a book. This may not be for everyone because writing takes creativity, time, and dedication. This one is precisely easy for me because I love writing. My suggestion is to write an eBook and sell it online. Amazon.com, Barnes and Noble, Kobo.com, and many other sites make it extremely easy to sell your eBook, and they take care of everything. It’s not likely that you’ll make a ton unless you strike a chord with people, but you might be surprised.
Create a mini-empire. If you have an eBook on raising chickens, why not have a website and a blog about raising chickens? You can establish yourself as an expert and have a lot of cross-advertising going on.
Pick something that many people are willing to spend money on. Things like money, love, and health are goldmines. Who isn’t interested in these things? There’s more competition for sure, but that’s where big money is located.
Choose a topic you’re passionate about. If you love it, then it is not work.
Can you come up with some more ideas? Making money while you sleep can create the additional income you crave. Imagine spending your spare time creating passive income instead of watching TV every night. You’d be wealthy before you know it!
However, getting it isn’t straightforward for most who set out to achieve this goal. The reality is most people throw in the towel and give up. Why? Because it’s challenging. No. forget that. It’s a tremendous implementation, one that delays the payoffs for a period of time. It can linger for months or years.
Now, I don’t say that to frighten you in the remotest. I express that to establish the expectations. But, if you’re ready to dig in your heels and grind, the world indeed can be at your feet. Not only will you start earning some side hustle income, but it could also one day replace your full-time income entirely.