10 Legit Ways to Make Money While You are Sleeping
Making money while sleeping may come across to you like an unbelievable concept, although, in this era of the internet, it is literally possible to earn money while sleeping. Earning money while you are sleeping basically means you are generating some passive income while also doing your regular job. When you put in your efforts to grow your income while doing a side job, it makes you financially more independent and strong.
So if you are looking for some practical ways to make while you are sleeping, we have come up with some of the best options you can try. Check out our 10 best approaches to earn some passive income.
1. Conduct Automated Webinars
We all have heard of live webinars but if you want to earn while sleeping, creating automated webinars is a great option. The automated webinars run during the day as well as night and bring a lot of digital product sales. These webinars look and feel live but are actually pre-recorded. Through automated webinars, you can connect to larger audiences and earn money while promoting any product or service.
If you are willing to sell and promote a digital product, or are good at explaining the features and uses of a product or want to offer consulting or coaching services, look for a good tool to create automated webinars and get started. The tools provide exclusive deals, notifications, sales pop-ups and a lot of other features for producing useful webinars and generate more revenue. So if you are good at pitching the customers, host a pre-recorded webinar and start earning money.
2. Write eBooks
If you are good at writing and also have a niche you are highly interested in, writing an eBook is a great way to earn money. Even content marketers swear by this technique, and from brands to businesses, everyone has made money using this. You don't have to be a professional to write an eBook. You simply need to find a niche or topic you are passionate about. If you are good at cooking, write an eBook about your favourite recipes, if you are a fitness enthusiast, write about your fitness journey and earn money.
You can quickly sell your eBooks on platforms like Amazon without spending much. Also, if you have a blog or website where you often write about your interests, you can sell your eBooks on those platforms as well. The benefit is that you don't have to spend tons on marketing the book or finding a publisher as you can sell the book easily on kindle. This way, you'll not only earn by selling the book, but it will also increase the traffic on your blog or website and help you attract a broader audience.
3. Try your hands on Affiliate Marketing
Having an online presence is not enough these days, and thus, affiliate marketing has become one of the most popular and fruitful ways of marketing various products and services. In affiliate marketing, you promote a product or service of some company to the potential customers, and when the customer purchases the product, you earn some money as the commission. If you are passionate about a certain product or category, be it lifestyle products, digital products, health/fitness product, etc. You can market the products and earn money while becoming an affiliate marketer.
There are plenty of platforms like Pongo Share Global that offer a pool of products and categories to choose from. You can register with the platform within minutes and start promoting, testing and reviewing products for earning money. The best part is that the system is highly transparent and you get to view and manage the products, sales and commissions you receive on each order effortlessly. Also, if you have a blog or an online store, you can draw more customers to your blogs and sell products easily through affiliate marketing with Pongo Share Global.
4. Start Blogging
If you are looking forward to earning some passive income by dedicating a few hours of your day towards something you are passionate about, why not start a blog? These days, it has become very easy to start a blog, and the benefits of starting a blog are many. You can blog about anything you want and pick a niche. From fashion blogs to lifestyle blogs, there are blogs for every possibly imaginable topic.
Start with writing blogs about the topics you choose, pick a hosting service and start publishing the blogs. Market the blogs by promoting it on various social media accounts and through other marketing techniques like affiliate marketing. Write about the things with which your audience can connect and gradually grow your audience. Creating valuable and relatable content will also help you sell the products relevant to your blog. This way you can earn money in two different ways, so if you are good at writing and sharing things with people, start earning by blogging.
5. Invest in Stocks
Investing in stocks is yet another way to earn passive income. Investing in stocks makes you a stakeholder of any company or firm, and this makes you eligible to share their profits. Though investing in stocks may seem like a risky idea to the beginners, with the help of the internet, you can conduct some research and learn to invest in stocks mindfully. When you are a shareholder of any company, you get paid with the dividends quarterly, and this can benefit you in many ways.
By carefully investing in stocks, you can get higher returns in shorter periods. Plus, the stock market allows you to sell your shares during any given point of time, which means, whenever you want, you can convert your stocks into cash with low transaction charges. You can start investing with a small amount and gear up as you begin to understand the process better for enjoying higher returns on your investments.
6. Start a Drop Shipping Website
If you have heard of Shopify, you are probably aware of the term drop shipping. Drop shipping has become one of the popular and effective ways of earning money these days. For drop shipping, you don't have to purchase inventories and store your products in warehouses. Here, you can directly supply the products from the wholesalers to the customers. When a customer places an order for a product from your site, your system sends the order information to the relevant wholesaler or manufacturer, and the shipping is done.
You can easily pick a product niche you are interested in and start selling the products through drop shipping. Make sure that you choose a product category that people are interested in, pick items that are not readily available locally, and also that the product is available at a highly reasonable and competitive price to the customers. This way, you can avoid the hassles of purchasing, managing and clearing the inventory and can sell directly to your customers while earning the right amount of commission on each product.
7. Create Online Course
Sharing your knowledge and expertise to earn some passive income is a great option. If you are good at something and if people are willing to pay for the information you have, you can certainly earn a lot of money by generating online courses. Creating an online course definitely needs some research and a lot of time. You may have to create eBooks, videos and testimonials regarding the course in the beginning, but once you start publishing the content, it will become a smooth journey.
Offer your course as a solution to the problem your customers have, and they will take up your courses. Charge the customers for the course, and once they sign up, your system will send all the necessary documents and materials regarding the course to the subscribers. Build a list of potential customers, reach to the potential customer through multiple channels, create a community and promote your online course and keep the rates low compared to other professional courses to get more subscribers and users.
8. Rent your Possessions and Property
Rental income is the best way to generate some extra money with minimal efforts. If you are good at investing in real estate, buy a property and rent it to generate income. If you are not willing to make such huge investments, you can rent your possessions and earn money. There are platforms like craigslist where you can rent anything from your bikes to power tools and from your clothes to sports equipment. You simply need the tools that you want to rent, ask for some security deposit, check the ID proof for address and rent your belongings to someone who needs it.
There are small businesses that work on car rentals, bike rentals, clothing rentals, moving gear and storage rentals, camping space rentals, and so much more. Gather the valuables that can be rented and start listing them on the rental platforms to earn money. You can also ditch the rental platforms if you want to avoid paying a commission and can promote the products on your social media platforms to rent without paying any commissions.
9. Peer to Peer Lending
Peer to peer lending has also become one of the popular ways to earn money without investing much. When people cannot get loans or borrow money through their banks, they use the internet to borrow and lend money which is known as peer to peer lending. When you have a certain amount to invest, you can lend it to someone who needs the sum on an interest basis for a specific period of time. Plus, there is no limit on the amount of lending. You can lend a small or large amount, charge some interest and earn money without doing much.
The borrowers are generally graded based on their credit score and the amount and type of loan they need. Though there is a certain risk involved in peer to peer lending, when you check the credit history and deal with a person having a trustworthy base, this business can be highly profitable. The best thing is that you can lend money at your desired rate of interest and earn more money while sleeping. From individuals to businesses, you can give money to anyone with reasonable interest rates.
10. Start a YouTube channel
People these days are making tons and tons of money through YouTube by uploading their content on YouTube. From gaming to tutorials and from entertainment videos to educational content, there are videos related to everything on YouTube. YouTube has more than 1.8 billion users, and it is Google's most popular service these days, so why not try your hands on creating a YouTube channel?
For starting a YouTube channel, you will again have to pick a niche. If you are interested in gaming videos, create YouTube videos and let people watch you while you play the game. If you are good at cooking, upload your recipes and grow your subscriber base. Make sure that you use good cameras to record the videos and make original and highly relevant content to which your audiences can relate. Start promoting your channel through different social media platforms and get more subscribers.
Simply imagine going to bed and waking up with a considerable amount of money in the bank. The above-given methods can make your dream come true if you move in the right direction and stay committed to working on these ideas. It is possible to create a business using the above-given methods and earn money with the right efforts.
Remember that none of these methods will give you instant results. You will have to work hard on promoting your work, will have to find potential customers and keep working to grow the business and generate revenues from these businesses.