Do you want making money while you sleep? Does it sound too good to be true? Since we still live in the age of the internet, it’s not that difficult to earn extra money on the side.
With that in mind, here are 5 ways that you can make 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 technology blog to help community know everything there is to know about technology. 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.
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 advertising. If your site has the traffic to become an affiliate, then it may also be good enough for advertisers to purchase ads on your site. You may start off small, like making under $20 per ad. But, you may eventually be able to charge triple digits. Again, your site must be quality.
Find sponsors. This is slightly different from just selling ads on your site. Sponsorships may be a one-off piece of sponsored content or permanent logo embedded in your footer.
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.
Invest in stocks or shares
When you invest in stocks you become a stakeholder. That entitles you to a share of their profits. Investing in stocks has been a popular way to earn a passive income for years, and thanks to the internet, it’s easier than ever to research and invest in stocks on your own.
Keep in mind that the stocks you invest in can change throughout the various stages of life.
Install an autoresponder
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 have to offer, as well as follow-up with a series of emails.
If you’re a talented actor, or author, then you could earn royalties from your work. In other words people will pay you for using your work or creative assets.