7 easy passive income ideas to make money while you sleep

passive income ideas

Passive income ideas might just change your life.

Passive income is income that you earn while you’re not
working. That doesn’t mean earning money for nothing, but rather
it means earning money from a business or an idea that you set up
previously and that is now running on its own.

You’ll wake up a little richer every day

It means escaping a situation where you are trading time for
money; so that you’re free to choose what you do with your time
once again.

It means that you’ll earn money whether you’re working or
you’re fast asleep.

It means you’ll wake up a little richer every day.

See also: Easy
side hustles you can use to start making money today

And if you really master it, then it means you won’t need to
work another day in your life! And if you never get to that point?
Passive income ideas can still help you to live more comfortably
within your means and supplement your income.

In other words, passive income is very much “the dream.”
True financial independence and freedom from work. Automation on a
personal level!

So how do you go about setting this up? Here are seven passive
income ideas that will help you earn money while you sleep, and
that anyone can get started with right away.

7 effective passive income ideas Making courses

A while ago, I was invited to an event at the YouTube Space in
London. There I met some very interesting people, but perhaps one
of the most interesting, was a guy who was a
full-time YouTuber, despite earning no money from it yet. And he
didn’t care if he ever did!

How was this possible? Simple: he was already earning a
comfortable full-time living selling courses he’d made a long
time ago. He had a full-time income without lifting a finger. In
his case, the courses were on self-improvement and personal
development.

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This is an incredibly simple and easy passive income idea and
one that anyone can replicate with a little time and a marketable
skill or knowledge. You can sell an online course directly from
your own channels (websites or social media), but it’s easier to
sell the courses through sites like Udemy, Teachable, Skillshare,
etc.

He had a full-time income without lifting a finger

If you can afford to take a few weeks off work and quickly
film/write a bunch of courses, then you can start generating a fair
amount of cash very quickly!

Creating a blog

Creating a blog or YouTube channel are among the most popular
passive income ideas. These options take a fair bit of time to get
up and running, and there is no guarantee they will ever be popular
enough to generate significant profit.

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But if you blog or vlog about something you love, and do it in
your spare time, that doesn’t have to matter. As you start to
gain a following, there are then countless ways to monetize your
creation: through AdSense, through affiliate products, through
sponsorships, or by selling a product of your own.

Even if you never make the big time, getting paid to write about
your favorite topics can’t be all bad, right?

Even if you never make the big time, getting paid to write about
your favorite topics can’t be all bad, right?

Create a site with evergreen content (content that won’t go
out of fashion or become irrelevant quickly), and this can
eventually become self-sustaining.

Man Typing on Laptop

Of all these passive income ideas, this is perhaps the most
difficult but also potentially the most profitable.

If you want to learn more, try “Blogging
Masterclass: How to Create a Successful Blog in 2019
” over at
Udemy to get started.

Selling a digital product

A digital product is any product that doesn’t have a physical
form. Examples include things like ebooks or video courses. While
many of the options on this list could technically be considered
digital products (such as an app), in the context of passive income
ideas, most people mean a free report, video series, or ebook of
some kind.

Spend a little bit of time writing a guide to fitness,
programming, dating, confidence, golf, or whatever else. Then save
that document as a PDF file. Now upload the file to your server and
use a tool like “Sell
Digital Downloads
” for WordPress to handle the sales.

woman-typing-writing-coding-laptop

As long as you can generate a stream of traffic to your website
(perhaps by hiring a marketer, or maybe by paying for advertising),
this can sit and generate cash for you indefinitely. Of course
it’s not quite as simple as all that and there are many factors
to consider such as your niche (subject matter), your conversion
rates (number of people who buy), your advertising budget, etc.

If you’re not good at writing or find that idea daunting, then
you can buy a ready-made book that comes with the copyright and
permission to sell. These typically cost just a little more than
the price of a regular ebook, and allow you to profit many times
over!

You can buy a ready-made book that comes with the copyright and
permission to sell

Just search for PLR ebooks (private label rights) and you’ll
be able to buy ready-to-sell tomes that even come with ready-made
marketing materials such as sales scripts and blog posts!

Selling affiliate products

Don’t want to write an ebook? Or buy a PLR book?

Typing Coding Web Laptop

Then why not sell someone else’s? Affiliate marketing is one
of the timeless passive income ideas, and has helped make a lot of
people rather rich!

An affiliate product is a product that you can sell and gain
commission for. Sites like JVZoo, Clickbank and Commission Junction let you sell
other people’s ebooks and keep as much as 50-90% of the
profits!

This is the passive income idea that Tim Ferriss recommends in
his book The Four Hour Workweek: find an affiliate product, create
a page selling the product, then pay for Facebook Ads to send
targeted traffic to that page. As long as you choose the product
and the audience wisely, this can earn you a few hundred dollars in
a short amount of time. And it’s infinitely repeatable.

A great course to get you started is:
Clickbank Success
.

Stock footage and photography

If you’re a dab hand at photography, then why not sell them
via a stock imagery site? Examples include Shutterstock and Envato Elements.

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These sites are used by webmasters, business owners, and
bloggers to get images that they can place in their articles. Most
sites charge some kind of fee, and then provide a revenue share for
the creators that upload their work.

If you’ve got a bunch of beautiful scenery pictures sitting
around on your computer, then you can start selling that right now
with no additional work whatsoever! Music tracks, video clips,
fonts, and more are all also welcome.

Create an app

You guys are probably sick of hearing it by now, but I once made
an app..

Source: FS – Android
7 easy passive income ideas to make money while you sleep