Imagine waking up in the morning because the first thing you notice is a healthy bank balance that increased last night while you were sleeping. Sounds amazing, doesn’t it? This is completely doable and many people have done it.
Making money while you sleep is a type of passive income. It is where you have to put in some initial effort at the beginning and eventually get the cash flow automatically, with less maintenance time. The income methods mentioned in this article will take you a long way towards your financial goals.
1)Create a Mobile App
More than 3 million apps are published in the Google and Apple app stores. Mobile app publishers typically earn more than $10,000 per month passively from these apps. There are simply 3 ways to earn money with mobile apps. You can display ads in your app and you can also allow users to make in-app purchases. You can also earn money by flipping your app to Flippa. It is a good source to earn more money in a short interval of time.
2)Start a Blog
If you like to write, blogging is the most suitable passive income for you. The best part is that it can be turned into a good source of income and earn thousands of dollars per month even when you are sleeping or actively working. The best part is that you can use your free time to blog and it is also one of the relatively easiest small businesses to start. It takes about 2 to 3 hours to manage a blog. You can either use a WordPress blog or you can start with Blogger.
You can make money by selling others merchants’ products. The merchant gives you their total price and you add whatever you want as your profit. One thing to remember is that your profit margin needs to be realistic because e-commerce is very competitive.
Affiliate marketing doesn’t have to be done only on a blog. If you have email, this is a great option. Instagram is also a popular affiliate marketing platform. People who have a high following and active followers can put affiliate links on their profiles and highlight the links. Whenever someone clicks on that link and buys the product, the influencer gets a commission back. Almost all brands are using affiliate marketing strategies to boost their sales.
You’ve probably heard the phrase
"it takes money to make money." Having some money actually makes it easier to get more. A great way to passively earn money long-term is to invest. When people think of investments, they often think of the stock market. When you start investing money in stocks that are considered safe (no stock is 100% guaranteed to make you money), you usually end up making a profit for doing nothing but letting the asset increase in value.
6)Rent Your House
By renting out space in your house or your entire house, you can make money while you sleep, even when others are sleeping. The money numbers can vary drastically depending on what city you live in, whether you rent a room or an entire house, and how often your space is available for rent. You have to clean up after guests and be available to answer visitors’ questions (consider creating a guide), but you can still rake in the cash while you sleep.
7)Sell Your Stock Photographs
You can earn money by selling stock photos. Photography is a creative skill among us. Most of us take photos in our daily lives using smartphone cameras or digital SLRs. All you need is to buy a good camera and accessories to upload your photos for others to buy.
There are many websites where you can sell your photos like pexels, shutterstock, istock and alamy etc.
8)Social Media Agency
Social Media influencers advertise certain products based on the high level of trust they have built with their followers base. Ten years ago, influencer audiences were only developed by celebrities. Currently, we are seeing many new social media influencers rise with a growing audience.
You can promote products like home appliances, food, restaurants, clothing, beauty related products to your follower’s base. You will get a significant growing commission income after you post on social media even while you sleep.
Just like Shopify, you can also sell your products and services on other e-commerce platforms like Amazon. The service allows individual sellers to find the products they want to sell and then let Amazon handle the sales and logistics part of the equation.
Amazon will host the product on its website, facilitate the transaction with the customer, and deliver the product. When you consider that Amazon takes care of listing, selling, shipping, collecting, and any customer service needs.
Then you can see why passive income is so popular to generate money.
10)Publish Your Books
This is one of the best passive income business ideas that you can earn while you sleep. To get into this market, you need to be a bit of a creative writer with some subject knowledge. You need to invest your time and low cost to write and publish a book.
Online book publishing is also a good business. Amazon, IndieMosh, IngramSpark and iBook are some of the online book publishing platforms available in the world.
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