Are you tired of working your 9-5 job to pay the bills and never having time to make money on your own terms?
Most people believe you need to work hard before you can become successful and before you can actually make some good money. Once you have an idea that you can turn into a money-making machine, it is not going to take a long time to make money.
How to Make Money While You Sleep?
“If you don’t find a way to make money while you sleep, you will work until you die” – Warren Buffet
Passive Income is the answer.
If you’re looking for ways to make money while you sleep, passive income ideas might be right up your alley. “Passive” income is what most people dream of achieving. Yes, you can make money while you sleep, but it’s not as simple as set it and forget it.
What is Passive Income?
In essence, passive income involves making money on something that doesn’t cost anything. Passive income ideas are basically ideas that don’t involve much work.
It takes planning and systems to generate money while doing nothing. Essentially, passive income involves making money on something after the initial investment of time or money. For example, if you buy stocks, they can earn (or lose) money once you’ve made the purchase (money investment). Or, if you write a hit song, you can continue to make money each time that song is played. You invested time to write it once, and it continues to make money.
While passive income does involve an initial investment of time and/or money, once you have it created, it can be maintained with minimal effort. If you’re interested in creating a business that works even when you’re not, here are a few ideas.
10+ Passive Income Ideas to Make Money While You Sleep
The Internet has opened the door to many different types of business models that allow entrepreneurs and business owners to make a living with just a computer and a good idea. There are so many different ways that people can earn money online that there is probably something out there for everyone.
We know a lot of you continue to search for ways to make money while you sleep, passive income ideas to make money while you sleep, etc.
So, we’ve compiled a list of 10+ passive income ideas that allow you to work from home and make money without much effort.
#1 Make A Strong Personal Brand
The best way to market your business and grow it to the next level is by putting yourself out there. You’ve already started that process with this article.
You’ll discover how to position yourself as the authority in your target market. It’s easier than you think. Once you learn this, you’ll be able to leverage the trust your customers already have in you to get what you want out of them.
If you’ve got an inspirational story or successful secrets to share, you could turn your experience into a video series, a blog, or write a book to make money while you sleep.
In addition to generating income directly from one of these products, you’ll also discover these products can dramatically improve the visibility of your personal brand, thereby boosting sales for your company.
You will not only make a profit for yourself when you create a new revenue stream, but you will also have improved your existing stream with any business ventures you currently have.
#2 Selling through Fulfillment by Amazon (FBA)
Amazon’s FBA allows you to market, sell and ship your products directly to the Amazon warehouses, using your own fulfillment methods.
This service gives individual sellers the opportunity to sell directly on Amazon. The sellers set up their own accounts and then let Amazon facilitate the transaction and handle the logistics. Amazon delivers the product directly to the customer’s door.
People often sell many products through FBA, such as investing books for kids, teens, and young adults, or movies. Or, they may also sell items like wholesale items, DVDs, or retail arbitrage.
You don’t need to consider anything when starting up an Amazon shop; it’s all done for you. You can focus on creating a product or adding services that customers want. Once you find something to sell on Amazon, you can make money while you sleep.
#3 Build an App While You Sleep
If you know how to code, you can make a basic app that sells in app stores. It could even be considered one of the best products and financial apps. You could hire a coder or designer to do the work for you.
The more customers your app gets, the more money you will make. If your app is successful, it will always have revenue. Apps have different payment models, and Amazon makes it simple to get paid through these apps.
If you can make more money with a freemium model where parts of the app are free than by charging for initial access to the app, you can do that.
It’s possible to learn how to choose a finance app that will fit your needs by thinking about what opportunities exist in the market.
#4 Earn Rent on Your Self-storage while You Sleep
Self-storage rental units are a great investment opportunity if you have the right property.
As our buying habits grow, we all require more space and storage to store our possessions. So the demand for storage units is rapidly rising.
Investing in storage rentals is great because you don’t have to be physically present.
People who often use your services are looking for a place to put their things for long periods of time. It makes it one of the most attractive side hustles on this list.
Since it requires capital to buy the actual space and put up security measures, storage rentals will return your capital in no time.
#5 Stock Content
You can use your creative hobby to make a great living. If your creative hobby becomes a profitable business, it can become a source of passive income.
Do you enjoy photography, making short videos, creating music, or designing? Sort through your old photoshoots, unused music clips, and extra film footage.
Find a stock content site to sell it on. Just make sure to ask permission from anyone in your photos or videos. For photographers, the most popular stock photo sites are Shutterstock, Getty Images, and Pixabay. Let your business earn money while you’re sleeping.
#6 Affiliate Marketing
Don’t forget to use affiliate marketing to make money from your creative hobby. In the world of online marketing, affiliate marketing is one of the fastest and most lucrative ways to make money with very little investment of time.
To become a successful affiliate marketer, you’ll need to reach an audience to promote to. If you’ve already got a list of subscribers, then this works great. A good place to start is by using Facebook Live to host webinars and other training sessions, or by making videos using YouTube to reach potential customers.
You will make money every time people click on your affiliate links. You can make more money if you build a lot of links. You can also earn cash by putting ads on your site – just make sure you learn and abide by the rules that apply where you live.
You don’t just earn on a blog but if you have an email, you can through affiliate marketing. Another popular platform for affiliate marketing is Instagram. A large following on Social Media will help you make a lot of money through affiliate marketing.
#7 Peer-to-peer lending
When it comes to automated income streams, there are many peer-to-peer lending networks that can help you automate some of your income.
If you need to invest a lot of money in this venture, you may be able to make a substantial profit. Investing your money doesn’t have to be complicated. A number of websites offer tools that help you minimize your risks with built-in algorithms designed to help you find the best investments.
The riskier the investment, the bigger the potential for reward.
Lending platforms like Prosper, Zopa, and Lending Club can help you invest your money without any risk or effort. They’ve already identified the best investments for you.
These lending platforms offer a great way to put either a little bit of money or a lot of it, at play and earn while you sleep.
#8 Create and Manage a Blog
Starting and running a blog requires a huge amount of time, effort, and dedication, but as long as you are willing to invest that time and energy into it, then it could become one of your most powerful sources of passive income.
One of the most important things to do if you want to be successful with your blog is to increase your readership.
To make a good passive income, you can use SEO to get visitors to your site and you can use that traffic to convert them into leads, and eventually customers.
It’s good to have a variety of marketing options available. Some of those options can involve systems and automation such as email marketing and social media.
#9 Write and Sell eBooks
When it comes to ways to make money while you sleep, I recommend you start by writing and selling ebooks. It’s a one-time effort that can pay you for years to come.
If you can write, you can write. The barriers to entry for becoming a self-published author are almost zero. Today, self-publishing is the norm, not the exception. If you buy an e-book from sites like Amazon, the chances are that it’s a self-published book.
If this is not the way to make money in your sleep, then I don’t know what is!
#10 E-commerce & Dropshipping
Setting up your own e-commerce site is easier than ever before, thanks to the advanced technology and online platforms available today.
You have to manage inventory, production, and expenses when you sell your own products. This can increase your profit margins, but it will require a fair bit of attention and effort, so I wouldn’t call it passive income.
HOWEVER, you don’t need to sell your own products. You can also sell someone else’s products and let them deal with the logistics. This is called drop shipping – an extremely popular e-commerce strategy that is here to stay.
Drop shippers give everything; the product, the packaging, and shipping, including using your business label. The only thing you need to handle is marketing.
There are a number of ways to market a drop-ship product including your website, e-commerce site, eBay, or Amazon’s fulfillment program.
#11 Earn dividends by investing in the Stock Market
It’s true that it takes money to make money, but not having any money also makes it harder to get more money.
While stocks are an important part of your investment portfolio, there are other types of investments that might work better for you.
A safe investment means you might not make a profit, but you also won’t lose your investment. Once you have enough safe investments, the fees you pay to trade are usually much less than the cost of the trades themselves.
A low-cost, diversified portfolio can make you money while you sleep.
When you’re a shareholder in a successful company, you will get paid dividends – usually once per year. I recommend that people do their homework and find out which companies are successful and which are risky.
#12 Sell ad space on your car
You might not have realized this but this is the easiest way to make money while you are sleeping. For a business to thrive, it will need to invest in marketing; to create awareness. Believe it or not, one simple way businesses market their products is by creating posters and sticking them on cars.
All businesses will pay you for putting their advertisements on your car. If you have a car and you agree to drive around with the poster or sticker, the owner of a local business may be willing to pay you a hefty sum. This can amount to a modest income, though it isn’t very steady. So, you’re not making money while you sleep, you are still making money just by driving around.
I admit it’s one of the more wacky ways to make money; however, it could be a great way to earn some extra cash.
#13 Invest in Alternative Investments
The stock market can’t be the only way to invest. It’s wise to have a non-correlated asset allocation in your investment portfolio for the current market volatility.
Many alternative investments may provide a way to diversify your portfolio and to build wealth. There are several options available for investing your money in alternative investments.
FinTech companies have unlocked access to previously unavailable investment opportunities.
Investing in markets like real estate, fine wine, art, and others that continue to increase in value over time would be profitable.
With passive income, you can earn more money and spend less time doing it. You can start a side hustle by doing one of these 10+ passive income ideas.
Do you know of any other passive income ideas that we didn’t mention? If so, please share them below in the comments section.