Passive Income Ideas – 5 Ways To Make Money While You Sleep

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Passive Income Ideas – 5 Ways To Make Money While You Sleep

 

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Are you looking for passive income ideas? Here are 5 fantastic ideas and ways to make money while you sleep. These are perfect ways to earn income passively.

 

Who doesn’t want to make money while they sleep?

That is the ultimate goal for many online business owners.

 

If you want to really make a lot of money, it’s easier if you can do it 24/7.

 

Any stream of income you can create that doesn’t require your regular attention will take you a long way towards your goal.

That is what passive income is all about…making money while you sleep.

 

Here are just a few ideas to get you thinking:

 

PASSIVE INCOME IDEAS

TIP # 1 – Hire an assistant.

 

The idea here is to get the contract for some work that pays reasonably well and then simply hire someone else to do the work.

You pay them less than what you’re getting paid and keep the rest.

If you can get enough work, you won’t have to do much and you can really make some money, all while you sleep.

 

  • For contracts involving offline work, bookkeeping, landscaping, and many other service businesses work well with this concept.
  • Your work would be in meeting with current clients and getting new clients while your assistant does all the service work. Picking up ongoing, monthly contracts is where you make the most money.
  • For contracts involving online work, such as programming, design, or graphics for websites, the least expensive virtual assistants are typically found in foreign countries where a day’s pay is considerably less than it is here. There are many qualified and skilled people all over the world that would love to help you out.
  • Look at marketplaces like elance.com and others to obtain your online contracts. There are also marketplaces specifically for workers in foreign countries. An Internet search will lead you to all the marketplaces you could use.

 

PASSIVE INCOME IDEAS

TIP # 2 – Create a blog.

 

If you can get readers, you can make money.

With a high traffic site, you can make a lot of money from advertising revenue. Pay per click ads can really amount to a significant income on a popular site. 

  • With that regular audience, you can also sell products and services to them. The products and services don’t even have to be your own! There are probably products related to your blog content that you could sell and take a cut of the proceeds.

 

PASSIVE INCOME IDEAS

TIP # 3 – Buy a small business.

 

Most people focus on the Internet when trying to make money while they sleep.

Any small business where you can hire other people to run it will work.

Do you think the owner of 10 McDonald’s franchises is in there flipping burgers?

Not usually!

I highly doubt they are.

Your own bricks-and-mortar business might be the answer.

 

 

PASSIVE INCOME IDEAS

TIP # 4 – Create affiliate websites.

 

This is similar to the blog idea, but an affiliate website is commonly dedicated to selling a single product from which you earn an affiliate income.

 

That is you earn a percentage of the product price every time you make a sale.

 

Maybe it’s for a diet product or a dating strategy product.

By creating a website with worthwhile content, you can attract people looking to spend money on the type of product that you’re offering. 

  • You can find products on websites like clickbank.com and commissionjunction.com. There is no shortage of products and you’re sure to find something that you can sell.

 

PASSIVE INCOME IDEAS

TIP # 5 – Write a book.

 

Specifically, write an eBook and sell online.

Amazon.com makes it extremely easy to sell your eBook and they take care of everything.

It’s not likely that you’ll make a ton unless you really strike a chord with people, but you might be surprised. 

  • Create a mini-empire. If you have an eBook on gardening, why not have a website and a blog about gardening? You can establish yourself as an expert and have a lot of cross advertising going on. Sometimes 1+1+1 = 5.
  • Pick something that a lot of people are willing to spend money on. Things like money, love, and health are goldmines. Who isn’t interested in these things? There’s more competition for sure, but that’s where the big money is located.
  • Choose a topic you’re passionate about. If you love it, then it’s not really work. I have been publishing eBooks for years and love this additional source of passive income.

 

Can you come with some more ideas?

 

Making money while you sleep can create the additional income you crave.

 

Imagine if you spent your spare time creating passive income instead of watching TV every night. You’d be wealthy before you know it!

 

If you don’t find a way to make money while you sleep you will work until you die. Warren Buffett

 

The moment you make passive income and portfolio income a part of your life, your life will change. Those words will become flesh. Robert Kiyosaki

 

A wealthy person is simply someone who has learned how to make money when they’re not working. Robert Kiyosaki

 

You become financially free when your passive income exceeds your expenses. T. Harv Eker

 

Never depend on a single income. Make investment to create a second source. Warren Buffett

 

To obtain financial freedom, one must be either a business owner, an investor, or both, generating passive income, particularly on a monthly basis. Robert Kiyosaki

 

Look for a passive income and not an active income. Vijay Ganesh

 

The greater the passive income you can build, the freer you will become. Todd M. Fleming

 

Start to create passive income streams now, so you will not be one of the 10 per cent of seniors that are living below the poverty line trying to retire flat broke. Mike Wolf

 

 

 

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