Interested in making money while you sleep? Check out our top 12 ways that will make it possible to earn consistently while you sleep.
Making money passively should be a priority as it gives you the opportunity to gain financial freedom and live life you desire.
Most of these passive income ideas will require initial effort and time to make it work, but patience and focus it will generate a consistent income long term.
Read on to discover some of the best ways to help you get started.
Ways to Make Money While You Sleep
Start a Blog
Starting a blog is a great way of earning a passive income while you sleep. However, it will require some time and effort before you’ll start earning from your blog. Blogging isn’t the quickest way of making money online but with consistent work, you might make a lot of money from the blog.
Blogging is one of the best ways of earning passively because anyone can get started. Also, you do not have to be a skilled writer or editor to become a successful blogger. Most importantly, blog about what you are most passionate about and will also interest your readers. Also, providing valuable content to your readers will help your blog to take off faster.
There are several ways you can make money from your blog, some of which are Affiliate Marketing, Sponsored Posts, Display Advertising, and Selling Digital Products. Selling your products on your blog will triple your income provided it will value to your audience.
Create a Product to Sell
Creating your products to sell online is another great way of making money while you sleep. Below are some of the ways you can sell your products:
- Starting an Esty printable business, where you create digital downloads like templates, Planners, Wallpapers, Thank you and Birthday Cards, and Calendars to sell on Esty. This will earn you a lot passively as you will only have to create the products once and sell them multiple times.
- Selling Book Designs online. You can earn a great passive income by selling your book designs on Amazon KDP. Amazon KDP makes it easy to sell books online. All you will have to do is to create high or low content books like Journals, Logbooks and Kids Coloring Books to publish on your Amazon KDP store and Amazon will take care of the rest when you make a sale. You can also sell them on your site that is if you have one, to give your books more exposure.
- You can also earn a passive income by venturing Print on Demand. With Print on Demand, you will create graphic designs and funny or inspirational Quotes which will be customized on merchandise like T-shirts, mugs, blankets etc. and list them up for sale.
You will earn a commission when you make a sale and you do not have to worry about manufacturing the products, managing stock and order fulfilment as the Print on demand site will handle all that for you.
The best Print on Demand marketplaces to get started is Café press, Redbubble, and Merch by Amazon.
Café press for instance allows you to sell your designs on over 250 products. To get started on Café press, you’ll have to create a seller’s account to sell on their marketplace or open a shop on their platform to sell your products.
Also, even if you don’t have any design ideas of your own, you can list other people’s products for a referral fee instead.
Selling eBooks
If you are knowledgeable about a topic or a niche you would like to share or teach with people. You could write an eBook on the subject matter to sell on platforms like Amazon Kindle or your blog. While selling your eBook on Amazon Kindle is easy as Amazon handles everything for you, it is more profitable to sell on your blog or platform.
However, selling the book through your own platform comes with some amount of work, especially in the marketing of the book.
Selling eBooks is another good way of making money while you sleep as you will only have to make the book once and sell it multiple times.
Creating an Online Course
Just like selling an E-book, if you are an expert in anything or have in-depth knowledge about a topic, you could create an online course around that subject matter to teach valuable knowledge to people.
Course creation can be very tedious as it demands a lot of work. This is because to be successful in selling your course it must be easy to understand to help your students effectively.
However, once the course is up little or no maintenance is required. You can sell your online course on sites like Teachable and Udemy or your website or blog.
Course sales are a great way of earning a passive income provided it gives value to your student.
Become a YouTuber
Opening and growing a YouTube channel is another lucrative way of making money passively. Even though growing a YouTube channel can take a lot of time, effort, and some investments, the opportunities become unending once the channel takes off. All the hustle and investments will be worth it.
YouTube channels make money through Ad revenue, Affiliate marketing and selling your products and services.
The secret to growing a YouTube channel is consistency and uploading videos that would be of great interest to your audience.
Create a Membership
Another great way to build a lucrative online business is by creating a Membership community. This is a community people pay to access your exclusive content. You can create a membership community on a private social media group, or on your website with a plugin called Membermouse.
Anytime a person joins the membership program, you would receive the signup fee as well as a recurring fee for renewals. To have a successful membership community, you’ll always have to provide fresh contents that would provide value and also provide a service to each member.
Peer-to-Peer Lending
Peer-to-peer lending allows you to invest your money as a lender to borrow people who want to obtain a loan.
As a lender, you will have to view the available loans to decide whether or not to invest. However, this form of investment comes with risks, so it’s best you do your research before giving your money out to any lending platform.
Some platforms normally grade the loans by a risk which helps you to identify the best investments while minimizing risk and of course the higher the risk the higher the interest.
You can check out sites like Prosper, Lending Club and Zopa to get started with peer to peer lending.
Sell Stock Contents
If you have an interest in photography, creating videos, music or designing graphic designing, you could turn that hobby or interest into a business by selling them to earn a passive income.
You’ll earn a commission anytime someone buys or downloads your content. Below are some of the sites, you can list your stock contents to start selling.
- Envato Market which is best for selling web themes, graphic designs and music.
- Shutterstock is also best for selling photos videos and music.
- Getty Images is best for video, audio, photos and illustrations.
Even if you don’t have the skills to make your own content, you can check out Skillshare. It offers a lot of classes on Photography, Video making and editing, Photo editing and a lot more to help you acquire the skills needed to get started.
Affiliate Marketing
Affiliate Marketing is one of the easiest and fastest ways of generating passive income online. As an affiliate marketer, you’ll earn a one time or recurring commission if you promote the product of a company and make a sale, lead or signup.
To start promoting products or services as an affiliate marketer, you need to have an audience or an email list to sell the offer to. Even if you don’t have an online presence, you can start by creating a YouTube channel, a TikTok account, a Facebook group or a blog.
You will have much success with Affiliate Marketing if you focus on delivering value to your audience. This can be done by providing them with information that is problem-solving or educating them more on the product you are promoting by creating content around the product. Doing this effectively can make you a lot of passive income as an affiliate marketer.
To get started, you can check out sites like Clickbank, Commission Junction and Shareasale to find offers.
Invest in Crowdfunded Real Estate
Real estate investment is a great way of generating a consistent cash flow passively. However, the traditional real estate investment requires a lot of money to venture into it, which most people can’t afford. That’s where REITs come to play.
REITs are mutual funds in the Real estate industry which allow you to invest in a company that uses the money of investors to buy and manage Real estate properties. Investing in REITs allows you to receive dividends and also benefits as the property value appreciates.
REITs are a great option not only for people who can’t afford to buy a property but also for those who want to benefit from Real estate investment but don’t want the hassle of buying and managing a property.
To get started with REITs, you can invest in individual companies or crowdfunded real estate platforms like Fundrise. Fundrise for instance allows you to invest as little as $500.
Buy Stocks that Pays Dividends
Investing in high dividend stocks is also a good way of making money passively. With Dividend stock investment, you can make returns from both the dividend payment and capital appreciation of the stock price. This can compound into a large sum of money over time if you decide to roll over.
Most investors are attracted to dividend stock investment because of its lower volatility and risk. You can invest in high dividend stocks by investing in individual stocks, ETFs and index funds.
Start a Dropshipping Store
With e-commerce growing immensely and online shopping becoming popular, you could take advantage of this growing industry by starting a Dropshipping business.
As a Dropshipper, you need not have or handle the products you’ll sell as they will be warehoused, labelled, and shipped to your customers on your behalf. This gives you enough time to focus on finding useful and viral products, good suppliers and marketing.
To get started with Dropshipping, you will have to build an online store, find profitable products, find good suppliers or a Dropshipping fulfilment company, add the products to your store and start marketing.
There are a lot of platforms you can use to build your store, however, Shopify is the most recommended. Whenever you make a sale, the supplier or the fulfilment company will handle the rest till the product gets to the customer.
Once the store is properly built and marketed, you will start getting sales. This business module is another great way of making money passively, which requires a little overhead cost making it easy for anyone to hop on and start making money.
Final thoughts on Ways to make money while you sleep
Earning money passively is the go to way of growing your wealth into financial freedom. The best way to do this is to diversify your income streams with business and investment opportunities that will allow you to make money while you sleep.
