Connect with us

Success Advice

10 Great Ways To Make Money While You Sleep

Published

on

Image Credit: Unsplash

Passive income online is something of a holy grail. Everyone wants to “make money as they sleep.” After all, if you can take care of paying the rent without having to spend your time massaging spreadsheets all day, you can do something more worthwhile with your life.

That’s why we are offering you: 10 Great Ways To Make Money While You Sleep.

10 Great Ways to Make Passive Income Online

As with any business that a large number of people want to enter, the widely known sources of passive income have enough people entering those markets that you can expect lots of competition. Your success depends on whether or not you are able to jump the various barriers to entry that inevitably appear. Unfortunately, jumping those hurdles can (if you’re not careful) seriously reduce the “passive” side of passive income online. Certainly in the beginning, passive income can make for longer (sometimes much longer) working days than traditional income.

Once income is coming in, you may still need to check on things and put in work to keep it going. The mindset of someone who succeeds in passive income is not that of “get it done and go surfing.” You need the mindset of an investor. Passive income always starts with a significant investment: if you buy real estate, it’s a financial investment. If you want to make passive income online, you’ll almost certainly invest a very significant amount of time.

The process of making passive income online involves three choices:

Your business model
Your niche
Your target market.

Once you know these, you can implement your business idea, test, and repeat until you have the income you want.

For all the noise about income online, the process is remarkably simple. Try not to get distracted by the flashing lights and shiny objects along the way.

1 – Build an affiliate blog

Set up a blog, promote the blog, and use it to promote affiliate offers. This is by far the best known way to generate a source of passive income online.

Start with an affiliate site like ClickBank or Commission Junction. Find a few offers in a category that you know a bit about. Ideally offers with some degree of recurring income. Make sure they have good numbers, and do your keyword research to make sure there’s demand. After figuring out what keywords to optimize your blog for, start a new blog and write articles. SEO optimize the blog, and promote it around the web. Once the traffic numbers start going up, deploy some ads for affiliate offers. People click on the ads, and you get paid.

Now repeat the process until you have ten or twenty blogs, or maybe hundreds if you want to make some serious cash online.

 

2 – Put together an auto-responder list

One of the Internet’s most common business models. Once you know approximately what kind of market you want to attract, put together a free product or information people can download if they give you their email. Now drive traffic to a “landing page” that asks for the visitors’ email address. You can even install plug-ins nowadays called Squeeze pages that pop up with an e-mail sign up box when people visit your page. This is a great way to build subscribers and a sales funnel to sell to.

Use an auto-responder like aWeber to email your subscribers the link to download the product or quality information you have to offer, and follow-up with a series of (automatically sent) emails. Spread over weeks and months, build some rapport with your subscribers and then try to sell them on any number of products or affiliate offers. Make sure you break it up though, you need to offer something of value and every few mail outs or so you can send them a link to the product you wish to sell them.

 

3 – Create a membership community

This is a natural follow-on to the first two methods. If you establish yourself as a worthwhile source of information, you can charge people a membership fee to receive more information or more access. You get recurring income in exchange for your research and time spent producing high-quality content. For truly passive income, you don’t produce the content at all, and instead pay others. Quality control becomes the main challenge then.

Timothy Sykes who is a self-made millionaire through his penny stock trading and membership website has proven that membership communities do work, and very well may I add.

Find out how Timothy Sykes makes a cool $125,000+ per month of passive income online with his membership community.

 

4 – Sell commercial products online

Customers are buying products online at an extensive rate nowadays. This means that there are a large number of customers looking for exactly what YOU can supply them with.

Checkout Shopify.com. They supply you with all the tools you need to sell online.

A number of people have proven that this is a great platform to sell products online. Put up a page and promote it. People pay you money. The product gets delivered to them, while you kick back as the money rolls in.

If Shopify is not your thing then you can always try your luck with eBay. You know what they say, “One man’s trash is another man’s treasure”, so scour through your cupboards and sheds  and sell off some of your unwanted treasures.

 

5 – Arbitrage services

If you can find a market willing to pay significant amounts of money for a service (like writing or design), and a source of labor that provides the needed quality for a lower price, you can arbitrage the two. You act as the “middle man”, “the hook up”.

Funnel the expensive work to the cheap source and profit off the difference.

 

6 – Find Sponsors for Articles or Regular Columns

Some website or blog categories tend to be more popular than others. These can be monetized through sponsorship of a product, logo or mentions of the sponsor.

Try to find a sponsor for the articles that tend to attract the biggest number of visitors. The column can be branded or an ad can appear inside a visible open space of the article. Just note that the article or announcement is sponsored by “so and so company”, not only is this good because you are being honest with your visitors, it also shows other potential advertisers that this as a lucrative and effective option that you offer.

 

7 – Sell your own information product

This is just like selling an eBook, except you publish and sell it yourself (generally) and it can come in the form of an eBook, DVD, software, audio book or VHS video.

When selling your own information product it allows you to keep a higher percentage of the profit. You have greater flexibility with upsells and landing pages compared with selling your products on a 3rd party site, and you can even use this to build your list (see #2), two birds with one stone 😉

 

8 – MLM / network marketing

For people who are willing to put in the time understanding just what MLM (Multi Level Marketing) is. The problem with this approach is that it’s very close to a pyramid scheme. In essence, you make money from signing up people who sell the product. A number of highly reputable entrepreneurs such as Donald Trump & Robert Kiyosaki are big fans of Multi-Level Marketing.

Do your research first and make sure that it is a product line you are familiar with and passionate about selling otherwise you will be wasting your time and your friends and family may laugh at you when you approach them with your sales pitch.

 

9 – Sell advertising

This is very close to #1, but takes much more traffic. In order to make money while you sleep, the site has to be self-sustaining and self-maintaining, which isn’t the easiest thing to do, but is quite possible.

With enough traffic the advertising revenue becomes passive income.

You will make money while you sleep and the hard work will finally pay off. A good way to look at it is, within the first few months you may be earning around $10 – $20 dollars per day (That’s a McDonald’s meal or a full tank of gas), but as you persist and create new content your traffic will grow and so will your earnings, you may even get to the point where you could be making $100 per day, that’s a new pair of shoes each and every day or a flight to a nearby city of your choice per week.

 

10 – Peer to peer lending

Risky and capital-intensive, peer-to-peer lending involves lending money to people over the internet — generally to people who can’t get credit any other way.

Peer-to-peer lending is very similar to ordinary investing, except with a different asset class and payoff structure. This one is often a last resort but has proven to make good for those who run things the right way and do their homework before they launch.

 

Article By: James Meyer & Joel Brown | Addicted2Success.com

I am the the Founder of Addicted2Success.com and I am so grateful you're here to be part of this awesome community. I love connecting with people who have a passion for Entrepreneurship, Self Development & Achieving Success. I started this website with the intention of educating and inspiring likeminded people to always strive for success no matter what their circumstances. I'm proud to say through my podcast and through this website we have impacted over 200 million lives in the last 10 years.

Advertisement
62 Comments

62 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Success Advice

20 Ways You Can Become a Powerful Communicator

Published

on

Emile Steenveld Speaker and Coach

Some people seem to naturally know how to effectively communicate in a group setting. They can express themselves clearly and listen attentively without dominating the conversation.

Being a powerful communicator is important for several reasons, including building and maintaining relationships, achieving goals, resolving conflicts, improving productivity, leading and influencing others, advancing in your career, expressing yourself more confidently and authentically, and improving your mental and emotional well-being. Effective communication is an essential life skill that can benefit you in all aspects of your life.

But, don’t worry if you don’t naturally possess this skill, as effective communication is something that can be developed with practice, planning and preparation.
 

1.  Listen actively: Practice active listening by giving your full attention to the speaker and responding to what they are saying.

 

2. Use “I” statements: Speak from your own perspective and avoid placing blame or making accusations.

 

3. Avoid assumptions: Don’t make assumptions about what the other person is thinking or feeling.

 

4. Be clear: Express your thoughts and feelings clearly and concisely by getting to the point and avoid using jargon or overly complex language.

 

5. Show empathy: Show that you understand and care about the other person’s feelings.

 

6. Offer valuable insights: When speaking in a group, provide a valuable takeaway or actionable item that people can walk away with.

 

7. Be an active listener: Listen attentively and respond accordingly, incorporating your points into the conversation.

 

8. Choose the right time: Pick the most opportune time to speak to ensure that you have the group’s attention and can deliver your message without interruption.

 

9. Be the unifying voice: Step in and unify the group’s thoughts to calm down the discussion and insert your point effectively.

 

10. Keep responses concise: Keep responses short and to the point to show respect for others’ time.

 

11. Avoid unnecessary comments: Avoid commenting on everything and only speak when you have something important to say.

 

12. Cut the fluff: Avoid being long-winded and get straight to the point.

 

13. Prepare ahead of time: Sort out your points and practice them before speaking in a group.

 

14. Smile and be positive: Smile and nod along as others speak, to build a positive relationship and be respected when it’s your turn to speak.

 

15. Take responsibility: Take responsibility for your own actions and feelings.

 

16. Ask questions: Ask questions to clarify any confusion or misunderstandings.

 

17. Avoid interrupting: Allow the other person to finish speaking without interruption.

 

18. Practice active listening: Repeat what the other person said to ensure you have understood correctly.

 

19. Use your body language too: Use nonverbal cues such as eye contact, facial expressions, and body language to convey your message and build rapport.

 

20. Be aware of the tone of your voice: it should be calm and assertive, not aggressive or passive.

 

By keeping these tips in mind, you can improve your communication skills and become a more powerful communicator, which can help you build better relationships, achieve your goals, and lead a more fulfilling life.

I you want to learn how to become more confident in life then you can join my weekly mentorship calls and 40+ online workshops at AweBliss.com so you can master your life with more success.

 
Continue Reading

Success Advice

Dead Men Tell No Tales: How to Navigate a Mutiny as a Leader in 10 Steps

You’re the manager. You’re the supervisor. You’re the leader. But maybe your people don’t see it that way

Published

on

Image Credit: Unsplash

You’re the manager. You’re the supervisor. You’re the leader. But maybe your people don’t see it that way and perhaps that has created a divisive and adversarial working environment that makes it difficult for you to influence and inspire your team in a way that meets your vision. (more…)

Continue Reading

Success Advice

How to Think Like a CEO for Your Future Success

A blueprint for CEOs to draw a disciplined strategy

Published

on

Image Credit: Unsplash

Strategic thinking helps CEOs build successful businesses. It helps them establish everlasting enterprises. It is one of the key elements of decision-making. It is different from strategic leadership. It differentiates between leaders from managers.  (more…)

Continue Reading

Success Advice

How to Focus Your Mind on Your Goals in 2023 Constructively

In this world of distractions due to information overload, it has become a big challenge to focus our minds

Published

on

Image Credit: Unsplash

In this world of distractions due to information overload, it has become a big challenge to focus our minds on positive aspects and constructive activities. Sometimes we waste our precious time mentally and physically due to distractions arising out of technology. We must understand our priorities and learn how to focus on them religiously. (more…)

Continue Reading

Trending