Earning passive income helps you live the life you want. Here are a few options to consider for a side hustle.
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Almost everyone dreams of making money while they sleep . But, is it completely feasible? Well, actually, it is.
If you want to be financially free and live life on your terms, making money while you sleep should be top of mind. But, how? While some methods require upfront work to create passive income , others get the money you already have to increase automatically as you sleep. And, yes, sometimes you can actually get paid while sleeping.
So, without further ado, let’s explore the top ten side hustles that make you money while you sleep. 1. Start a blog.
Yes. You can make money from blogging. But, you aren’t going to earn a passive income until you put in a lot of work. And, it might take you months, if not years, until this happens.
The good news is that it’s pretty easy to make an extra $500 – $2,000 per month in your first year of blogging. Additionally, you can significantly increase your monthly blog revenue in years 2, 3, 4, and 5. According to Glassdoor , the average blogger makes more than $48,000 per year. But, it’s not out of the realm of possibility to make six-figures from your blog.
A blogger’s passive income may consist of; Display advertising. The ads are run through networks like Adsense, and you get paid for each impression, click, or sale generated from your site.
Affiliate marketing. This is when you get a special link to use on your site for a specific company or product. For every conversion made through a link, you are paid. Even though old posts may have been written weeks, months, or years ago, they could still generate income.
Course sales. Bloggers that become authorities on a particular subject can create a course based on their expertise. It takes a lot of work to create the course. However, it becomes passive since you can sell it indefinitely without much effort.
Before you’ll start seeing cash flow from any of these sources, you will have to invest some time and energy. As a rule of thumb, the more time and energy you put into your blog, the higher the ROI will be. 2. Digital assets.
Digital assets are products or pieces of media that can be sold and distributed through the internet without resupplying inventory. These are digital files, such as PDFs, videos, plug-ins, and templates that can be downloaded or streamed.
A user can purchase something and receive it via email or as a download after purchasing.
Among the many profitable digital products you can sell are: eBooks
Music or art
Digital images or graphics
Stock photos or videos
Software
Templates Manuals Membership sites But, if you already offer a service or product, then you could also offer an accompanying digital product. For example, if you sold plants, you could sell a planting guide or access to a paywall site.The process of creating digital products and marketing them can be time-consuming, just like with affiliate marketing . To build an audience that will buy your products, you need to create value, trust, and establish a relationship.As it grows and more people discover it, you may be able to earn a substantial amount of passive income.There will be times when you need to update the product or to add new ones, but with digital products you can earn money at any time. 3. Create online courses and webinars. Online education has become increasingly popular among students, professionals, and executives as a means of improving their skills and making themselves more attractive to employers. You can turn any unique knowledge and experience into online course material, which you can further monetize.As already mentioned, it’s possible to make money through online courses in many different ways. For instance, you can charge a fee upfront for the entire course you offer on your site. Alternatively, you can offer the course for free but charge a fee for certifying or licensing each customer who completes it.Or, if a product or service is purchased and the course is offered for free, that product or service may be offered as well. There are also subscription-based payment models and tiered payment plans.The key is to make sure that this is a topic that you’re familiar with. And, you also want to price the course well and market it through […]
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