Do you what is the secret of multi-millionaire or billionaire that makes them so rich?
It’s simple because they make money while sleeping.
We had been always taught to work hard and then earn money. Make out some saving, buy a big house with hard work and forget to live your life.
Do you the real definition of wealth:- Wealth is a person’s ability to survive so many numbers of days forward — or, if I stopped working today, how long could I survive?
Ask the above question to yourself and think about it and if the answer is No, then keep reading.
There are lots of ways to make a residual income or passive income that can help you earn money while sleep.
What is Passive Income?
If you thinking of making money while sleep, then you are talking about Passive income. It’s money that you earning without working actively on it.
You have to set it in motion, then it will help you earn money with minimal effort or no efforts.
If you are doing a job and getting paid then that’s not passive income, that’s an active because you are spending your time to earn money.
As you know time is money, time is infinite but you don’t have enough time. Think about it.
Passive income is more important in case if you want to get out of that rat race. Rich people not work hard they only have to work smart. That’s it.
You also have to work smart not hard work. For more information click the link below.
Ways to Earn money while you sleep:-
Ever think about making money by writing about something that you are passionate about? If Yes, then you can opt for the option of blogging.
I am passionate about making money that’s why i write blog on making money, entrepreneurship and food & travel.
It’s probably one of the most reliable source of making money on autopilot. When you run a popular blog, you can make money in variety of ways. You could sell anything in your niche on autopilot.
If you have a traditional business and you can promote by writing about new product and if customer start liking what you write about your product they will gonna buy it anyhow.
Grow you blog over time by consistently creating valuable content that helps you audience with a problem or fills a need.
Related:- How to Start a blog?
2. Affiliate Marketing
In the world of online marketing, affiliate marketing offers one the fastest and most profitable forms of income with very little investment of time.
If you want to become a affiliate marketer, you need to have an audience to promote the product. If you already have an email list, thin this works great.
Else you need to find a way to get the audience, you can do anything. You can create an Instagram page to promote your product or you can write a review on review sites with your affiliate link.
Affiliate marketing is providing the correct information to the customer or value to the customer. You have educate people, how they can solve their problem. If that thing happen then you can easily earn passive income.
Related:- Ways to Earn money from Instagram.
3. Information Product
Ever heard about online courses, ebooks, and other digital content. Creating an information product is one of the best ways to earn money while sleep.
You have to give some time to create a course, once you’ve made them and set up the system for selling them, all that’s left is marketing.
The system takes the order, processes the payment and delivers the digital product. You can also promote it by creating an affiliate program, so you can have a team of people selling for you. Increasing your sales with more efforts.
You have to create a product people want or need and marketing to get sales.
You know starting a online requires a big investment that includes inventory, staff and other process. But there is one e-commerce where you only need to create a store once.
Drop-shipping is kind of model where drop-shipper supply everything: the product, the packaging, and shipping, including using your business label.
All you have to do is to market the product. There are various ways to market of ways to market your product, including through another e-commerce websites.
You simply push the order through when it arrives, pay the fee and it’s shipped.
Drop-shipping when automated the right way, gives you a freedom that you wouldn’t normally experience while running a physical product store.
Ever think about writing a book and publish it offline. Royalties is mostly associated with books and music and you earn essential percentage of sales.
For example, if you write a book, a publisher can offer to publish it and pay royalties(a percentage of the sale) for each book sold.
This is not that much worth to create a stream of income that you want to create a wealth. Royalties usually paid only after every six months.
Another option is self publishing, in which you are a publisher. You can publish it is as a e-book on amazon also tend to give 30% to 70% commission and is paid monthly.
It is a long term process, if you want to build a stream of income for your older age then you can opt for this option.
6. Network Marketing
Network marketing or MLM is one of the best to earn passive income. You have to create a team of some group and let the other duplicate the same in your team.
You will get the support from your team leader, on how to start the business but mostly 97% of people are unable to do this business.
With the minimum investment for this business if you are able to create a network of some people then you can easily a create a way to good income.
7. Traditional Real Estate Rentals
I think this is the most common and favorites one. If you are also one of those who rented an extra room of their house then you’re smart enough.
Intelligently done, this can reap huge benefits. Buying a house at rock bottom prices and put it out on rent income is substantially more than EMI you pay per month then you have made a killing.
Having no one your house then all the rental income can be used for either living expenses or saving for the long goals.
In Gurgaon or in other metros cities, homeowners charge Rs 5000 per month for one unit.
All this is required some investment, some require your time and other is much investment for that you need to take the loan also.
All this will required your efforts and your time. If you want to build a stream income that you can earn while sleep then you can opt for any option to start.
You have to be consistent if you want a residual income or passive income.
And If you want to work with me then you can contact me.
Thank for reading. Have a great day.