Want to make money while you sleep?
Well, you are not alone. Who doesn’t want to sleep and make money?
You don’t need to be in Japan where an employer pays employees to get some sleep. (It’s true)
And you won’t be under experiments of pharmaceutical companies which, for study purposes, pay you for sleeping.
While making money while you are sleeping may seem almost impossible, it’s possible. And, we have 9 unique methods to try yourself.
- Develop An Application For Android And IOS
On average, a person spends 4 hours a day on the phone. More than half of the total web traffic comes from mobiles.
With such high figures, you can expect several people to use your app, and if it appeases the masses, more people will download your app.
Now the question that arises here is that how can apps earn money for you? The simple answer, businesses give Google an advertisement, and Google shows it through your developed app to the user and shares the revenue with you (Developer).
The question as to how much an app can earn depends on its usage. More users mean more ads will be seen by them, which will result in more revenue for you.
Got an idea to develop an app? Go on. Turn your idea into an app and start earning when you are asleep.
- Write An Ebook
Interested in writing? Here you go. Write a book on your area of interest and get it published. Royalty on books can pay you a lot of money while you sleep, especially when your books sell via proper channels. Most writers make money through the following ways:
- The most common is a royalty on every book sold, you can also get an advance from the publisher before a book is published.
- Try different formats of books, i.e. audio, paperback, and eBook, authors place them on sites such as Amazon and earn up to 75% profits.
- Merchandise your ebook for example: sell the characters of your books by getting them printed on t-shirts and mugs etc.
Pro tip: The best way to market your book is to write another book.
- Investments For Passive Income
Have some extra money? And it’s burning a hole in your pocket! Invest in a profitable business in the form of shares, which makes you stakeholder. With apps like eToro, you can invest with low-cost and ease. Investments are a great source of passive income.
However, you need to take care of and understand the risks involved in trading. Many companies go insolvent every day, stock markets crash, and only a few out of 3000 cryptocurrencies have managed to sustain themselves. If you have studied and ready to take the risk, then welcome on board, sleeper!
- Sell Products On Amazon FBA
Ever heard of Amazon FBA (Fulfilment by Amazon)? Awesome! It’s the giant e-commerce company and you can partner your business with them.
To leverage your success, you need to calculate the upcoming trends of items which will be bought, source them, and ship them to Amazon shipment centre.
From there on, it is Amazon’s headache. They will do the shipping, returning, and customer service, etc.
- Rent Out Your Property
Thanks to Airbnb, you can supplement your income by renting out your home when it’s not in use. You can rent out your house when you’re on vacation or even rent your garage, parking space, unused office space.
This is the link to become a host on Airbnb.
- Sell a Course On Udemy
Seven billion humans need to learn new skills for work in this digital era, and a lot of people choose Udemy to learn new skills.
Good at teaching something? Take a Udemy course on how to make a Udemy Course. We like this course by …… Once you know how to make a course, start making videos and structure your knowledge and hit publish. Your passive income will start pouring in as soon as someone buys your course from Udemy. There are two ways by which you can earn money:
- Earn 97% of the tagged price when you gave a coupon to a student to buy those lectures.
- Earn 50% of the tagged price if Udemy sells it through their platform.
- This year the top instructor of Udemy is Jose Portilla who earned $4.7 Million by his Python course.
- Publish Your Videos On YouTube
YouTube is the largest video channel in the world. Youtube receives almost 5 billion videos per day. It hosts videos from glittering of film industries to the educational videos.
You can publish whatever you want (within Youtubes guidelines) and earn money through Google Adsense, which is the same as making money through apps.
- Start A Business
If you have the capital and ideas which can generate you money, what are you waiting for?
Even with 100 bucks, you can start your business according to the ideas provided by Chris Guillebeau’s “The $100 Startup Guide”.
Once you have set up the business, hire a VA who is trustworthy and can manage your business according to your requirements.
We did a whole post on hiring a VA, check it out.
- Renting Your Stuff
You can start generating money by renting your Stuff to the people who need it. From furniture to every lens, people are ready to rent your items. There are apps where you can rent your stuff and earn passive income:
Why stop with clothing and electronics, 2019 has been the year to rent out your car lots of people have been doing this with great success earning around $20,000 a year. You can set it up simply with an app on your phone. Two great platforms are:
Start one of these side hustles today and earn money while you sleep. Some of them may take time and hard work to establish but in the long run of building a successful extra income its worth it. Let’s do a recap.
9 Ways to Make Money While You Sleep
- Develop an App
- Write a Book
- Amazon FBA
- Rent Property
- Sell a Course
- Start a Business
- Rent Your Stuff
Which one is your favourite?
Have you tried any of these tips before? Do you do any of these tips before? Let me know in the comments below.