Is it feasible to make money while you sleep? The answer is a big Yes. Making money while you sleep is one of the ways by which you can reach financial freedom. Most passive income might require that you put in a lot of work upfront. But after the initial energy, the rest will come forth. Let’s explore the different side hustles that are guaranteed to make money while you sleep for yourself.
You can make money while you sleep with a blog. But you need to put in a lot of work upfront to get there. And depending on the niche you choose it might take you months or years to get started earning. It’s worthy of note that you can still make money through blogging in the first year of starting. Through your blog you can make money while you sleep by displaying;
• Digital Adverts
• Affiliate links
Note that to start getting revenues from any of this, you have to invest time, energy, and resources.
With Digital Assets you do not have to resupply inventory because these are digital files. They are produced probably once but can be sold and distributed over and over again on the internet. PDFs, videos, plug-ins, and templates that can be downloaded or streamed, are various examples of digital assets.
Your user base will only need to claim their purchase through emails or downloaded right away. Be aware that the process of creating these digital products could be time-consuming. And you’ll need to put to build trust, relationships, and authority. Once you have successfully created this trusted user base, then, you will begin to make money while you sleep with it.
Online Courses and Webinars
These days, a lot of people are using online courses and webinars to project their personalities and profiles. This doesn’t mean you should be left out, you too can do it if they can. If you have any unique knowledge about something, you can turn it into a money-making venture. But make sure you truly know what you are teaching well enough. So, you will be able to set a good price range for every sale.
YouTube and/or Podcast
Just as any other form of content creation, YouTube and podcasts take time, energy, and resources to create. But you can make money while you sleep with ad revenue, affiliate marketing, sponsors, and selling your products through YouTube channels and podcasting. It won’t be uncommon if you have a YouTube or podcast along with a blog/website. Doing this will boost your credibility as your viewers will have a platform to learn more.
Rent your stuff out
The easiest way to make is by selling your stuff, you could also rent them out. You can rent out your spare rooms, storage space, car, baby equipment, bike, bandwidth, etc.
By now, you already know that passive income comes from investing, and one of the best ways to earn while you sleep is by investing. Therefore, learn and invest in mutual funds, and play the waiting game well. You must invest early, and consistently, while you let it stay and compound.
Apart from the traditional investments, you can also explore alternative investments. This could be real estate, REITs, farmland, an existing business, peer-to-peer lending, blue-chip art, fine wine, mineral rights, royalties, stock market, etc.
Start an e-commerce website
The popular e-commerce sites do either drop shipping, sell personal products or sell other people’s products. Shopify offers great means of making passive income with your e-commerce store. If you believe in the products, then put in a bit of hard work and marketing to set it apart. An online store gives you the platform to make money while you sleep with less overhead expenses. Once the cash starts flooding in, you can outsource most of the activities in your store.
Before trying to make money while you sleep, you should remember that you have to invest time. At the same time, if there will be any costs upfront, write them down, and plan toward them. Finally, do any of the ones that interest you, and burn the bridges to make your dream income.