You probably have seen many articles on how to make money in your sleep, but did you know that this is actually a proven strategy used by successful businessmen? Making money in your sleep simply means making as much money as possible without having to sit in front of desk or monitor. It means finding ways to passively generate income. This article will give you 20 such examples of how to make money while sleeping and find new streams of revenue. So if you are ready to implement these strategies and put your money-making plan into action, keep reading…
Start a eCommerce store
A marketplace is a platform that allows buyers and sellers to transact business instantly. A marketplace can also be a website that allows you to sell your products and services as an entrepreneur. If you have products or services to sell and don’t want to set up a physical store, an online store is a great option. You can start a shop on Shopify or even on eBay or Amazon, among other sites. And the best part is that once your store is up and running, you don’t have to lift a finger to keep it running. You can just sit back and watch the money flow in.
Earn royalties
In most cases, royalties are associated with creative industries like music, writing, and publishing. But you can also get paid royalties if you own a patent or trademark. A trademark is a symbol or design that identifies a company and product. The best example of a trademark is probably the Nike swoosh. If you own one or multiple trademarks, you can apply for royalties and start earning. You can check if your product is eligible for royalties at the U.S. Patent and Trademark Office. Once approved, you will be added to a list of products that can be licensed. Once someone applies to use your trademark, you will be notified, and you can decide whether to approve the use. The royalties will be sent to you monthly by the company that applied to use your trademark.
Invest in stocks
Investing in stocks has become less and less popular in recent years due to the Great Recession, but it’s still a great way to make a lot of money. You can start investing in stocks by signing up with an online brokerage or robo-advisor. You can choose between companies that offer low-cost investment plans, or those with higher rates of return. Whichever one you choose, you will have to set up a regular investment plan. You can choose to invest a set amount of money each month, or invest a certain amount of money whenever you get paid. When you start investing in the stock market, you will have to be patient because it takes some time for investments to grow. But if you have patience, investing in the stock market can be a great way to make money while sleeping.
Angel invest
An angel investor is someone who backs startups and new businesses with their money. As an angel investor, you would also receive a portion of the profits in return for your investment. While most angel investors invest millions of dollars, you can start with as little as $100. There are many online platforms you can use to find startup businesses that are seeking angel investors. Once you find a business that you like, you can either offer to invest money in exchange for a share of the profits, or become a co-founder. If you become a co-founder, you will have to commit some of your time to help the business grow. Angel investing is risky, so make sure you only invest what you can afford to lose.
Rental properties
If you have extra money, consider investing in rental properties. You can buy real estate, like a house or a commercial building, and then rent them out to tenants, either for short or long periods of time. You can use the money from renting these properties to cover your mortgage payments, taxes and other expenses, and make a profit on top of that. Make sure you choose the right rental property and keep track of the expenses so you don’t go over budget. This is a great way to make money while sleeping because you don’t have to actively manage the property. Make sure you are choosing the right rental property and have the necessary funds to cover your expenses and maintain the property.
Sell a product
If you have a product that people need and would buy, then sell it online. For example, you can make and sell your baked goods, crafts or clothing. All you have to do is set up a website and list the items that you are selling. You can sell your products through your own website or on platforms like Etsy or Amazon. One advantage of selling your products online is that you don’t have to deal with customers directly, which means you can do it while sleeping. You can hire virtual assistants to help you with customer service or product design if you don’t want to do it yourself. Selling a product online is a great way to make money while sleeping because it requires little to no effort once you set up your website.
Summing up
Making money in your sleep is a great way to build your savings and have financial security. It’s also a good way to keep yourself motivated even if you have a 9-5 job. If you use this strategy, you will be able to spend your time out of work productively. You can also use these strategies to make extra money to pay off your debt faster or save more money for retirement. Now that you know how to make money in your sleep, it’s time to start implementing these strategies.
