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Dear Entrepreneur, Here Are 7 Ways To Make Money While Sleeping

BY Getrude Mathayo · March 31, 2023 12:03 pm

KEY POINTS

If you have programming skills, you can create a mobile app or software and sell it on app stores like Google Play or Apple App Store.

While it's handy to know how to code to make an app, it's not always necessary. You may not become a millionaire with it, but it's one of the coolest passive income ideas.

KEY TAKEAWAYS

Passive income brings in extra cash after the initial work has been completed. That way, the earnings aren't tied to a set amount of regular working hours. 

Making money while sleeping, also known as passive income, is a great way to increase your income without putting in a lot of effort. This is the ultimate dream for many people. And it’s not as impossible as you may think.

Making money in your sleep sounds like a dream for most. But sadly, there’s no shortcut to getting rich overnight (that doesn’t involve the lottery or jail time!). Passive income is definitely the next best thing.

There are several ways to generate passive income, which means that you can make money while you’re sleeping, spending time with your family, traveling, or pursuing a hobby.

Passive income brings in extra cash after the initial work has been completed. That way, the earnings aren’t tied to a set amount of regular working hours. The key is to focus on low-maintenance side hustles that sell several times.

While they can be fun projects for some extra funds, these passive income streams can even grow into small businesses

  1. Invest in stocks, bonds, or mutual funds

By investing in these assets, you can earn dividends or interest income without actively managing your investments.

When an investor buys a stock, part ownership in the form of a share is bought. Bonds are a type of investment designed to aid governments and corporations to raise money. In a mutual fund, money collected from various investors is taken together to buy a large variety of securities.

  1. Rent out your property

If you own a property, you can rent it out to generate rental income. Positive monthly cash flow is the number one way to make money renting houses.

  1. Create an online course or eBook

If you have expertise in a particular area, you can create an online course or eBook and sell it on platforms like Udemy or Amazon.

If you love writing, eBooks may be a great passive income stream for you. The online publishing process is relatively straightforward and risk-free. Online publishing could bring you passive income and set you up for any future jobs

  1. Create a mobile app or software

If you have programming skills, you can create a mobile app or software and sell it on app stores like Google Play or Apple App Store.

While it’s definitely handy to know how to code to make an app, it’s not always necessary. You may not become a millionaire with it, but it’s definitely one of the coolest passive income ideas.

  1. Buy and sell domain names

You can buy domain names that you think will be in high demand and sell them at a profit. Before pricing a domain name and making money online, check whether it’s valuable to the market

  1. Affiliate Marketing

Affiliate marketing doesn’t just have to be done on a blog. If you have an email, this is a great option. Instagram is also a popular platform for affiliate marketing. People who have high followings, with engaged followers, can put affiliate links in their profile and call attention to the links.

  1. Create and sell digital products

You can create and sell digital products like WordPress themes, website templates, graphics, or music on websites.

Related Content: The Ultimate Guide To Learning From The Mistakes Of Billionaire Entrepreneurs

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