You can really make money the easy way
Do you remember in the past we were warned to be careful about being in debt because interest never stopped charging us; interest never slept, never took a day off, and never took a holiday. Well, the reverse is true, as well.
Is your money making money while you sleep? Does it sound too good to be true? Since we still live in the age of the interest, it’s not that difficult to earn extra money on the side.
With that in mind, here are ways that you can actually earn 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 will 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 invoicing blog to help customers know everything there is to know about invoicing. 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 monetise 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.
Earn royalties
If you’re a talented musician, 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.
If you are not talented enough, but interested in earning royalties, then, check out Royalty Exchange. It’s a marketplace where you can buy and sell royalties.
Create a membership community
If you have proved yourself to be an authority figure, then you can 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.
One of my favourite examples is 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.
Flip websites
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. I’ve bought and sold a lot of sites here and made a lot of money.
Sell physical products
Just like with a blogging site, there are several ways to earn a passive income by selling physical products. Probably one of the best-known ways is by selling your old junk on eBay. But even if you don’t have anything left to sell, you can start drop shopping. This is 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.
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.
Peer-to-peer lending
Companies like LendingClub, Propser, and Harmoney have created a new industry where anyone can become a lender. They will then match you with a consumer who either prefers or has trouble securing a loan from a bank. You can earn higher interest rates on the loans you issued since you’re dealing directly with the borrower.
Rent out property
Thanks to Airbnb, you can rent 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 supplementary income without really doing anything except placing an ad.
-www.entrepreneur.com
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