Even if you like your 9-to-5 job and the money it brings in, don’t you wish you had something more permanent?
If that’s the case, you’ve come to the right place. After the pandemic, passive income is more important than ever in the year 2023. We need more money, freedom, and flexibility to be able to live the way we want and keep up our lifestyle.
In this article, we talked about ways to make money while you sleep. You can use these ideas along with your 9-to-5 job at first, and then slowly give up your 9-to-5 job to focus on passive income. Let’s take a look:
First of all, what is passive income?
Before we talk about how to make passive income, let’s first talk about what it is.
When you have a job from 9 to 5, you are making money. This means that you won’t get any more money until you get a job. Once you stop, you have to start taking money out of your savings, and you’re no longer making money.
With passive income, you can make money even when you’re asleep. This is a way for your money to make more money for you. For example, putting money into a fixed deposit and letting it grow. It brings in the least money, but it is still passive. Writing a blog, doing affiliate marketing, dropshipping, and other things can also make you money.
Why You Should Start a Business to Make Money While You Sleep in 2023?
Starting a business in 2023 to make money while you sleep could be the best thing you do. This is because the digital world has changed so quickly that it feels like years have passed in just a few weeks. Everyone is online and active, which gives you a chance to take advantage of the situation. Here are some ways to make money while you sleep.
Ideas for Making Money Without Working
Not everyone needs to buy a house or start a blog to make money without doing anything. There are many other ways to do it. Here are some of them:
Dropshipping
Dropshipping is our favorite way to make money without doing anything, so it’s at the top of our list.
Dropshipping is when you buy products from a seller or store and send them directly to the customer. You are right in the middle of the product and are advertising it. For example, you could market your business using AliExpress sellers and their products and ship orders directly to your customers. For this, you don’t need a warehouse or an inventory. All you need are good management skills.
dropship-empire is the best tool for your business to use for dropshipping. Whether you want to find the right AliExpress seller or keep track of your shipments, dropship-empire dashboard can help. This is how:
- dropship-empire helps you connect to different suppliers, which lets its AI tool find the best one for you. On AliExpress, you can find more than one listing for the same item, each with a different price. dropship-empire offer a tool for supplier optimization that is powered by AI to help find the best listing.
- When you have more than one order from different customers on your list, you can use the dropship-empire tool to place them all at once. You don’t have to go through the trouble of making separate orders.
- On your dropship-empire dashboard, you can keep track of every order from the time it’s confirmed until it’s delivered. You can sort orders and see which ones have been placed, which ones are on their way, and which ones have been delivered. This makes it easier to help customers quickly.
- When you place an order, your dashboard is automatically updated as the order moves through the supply chain.
Rental
The best way to make money without doing anything is to buy real estate and rent it out. You should know enough about the market to know when to sell the property and when to buy it back.
For example, the best thing to do when the pandemic first hit at the end of 2022 would have been to buy a house. It hit its lowest point. In the next few years, both the economy and property prices will go up, which will help you make a profit when you sell. Also, since you might rent out the property until then, it will keep bringing in money for you the whole time.
Partner marketing
Affiliate marketing is when you tell your followers about products on a third-party website. The easiest way is to start a blog, get people to read it, and then start affiliate marketing. You will get paid every time a reader of your blog buys something based on a link from your blog.
This is a passive income because you get a commission every time someone visits your site and uses the link to buy something. You only have to write this blog once to make money from it in the long run.
When you first start this kind of business, you should focus on building a community or fan base. People won’t read what you write if they don’t know you.
Digital Courses
Today, the whole world is online, so it makes sense to use what you know in certain areas to teach others. You can make courses with audio, video, and text for a wide range of students. Put these courses on your own website or on others, like Udemy, Coursera, and so on.
At first, adding free courses will help you attract people to your site. Once you have built up a following, you can try putting up paid courses and making money from them as long as they are useful. For instance, a course on English grammar will always be useful. You can keep making money from it without doing anything.
Digital Art
We have a huge, huge market for digital art. People now use pictures and graphics all over their online presences. Visuals are used in everything online, from social media to blogs and websites. If you know how to use tools like Canva, Photoshop, Adobe Illustrator, Coral Draw, etc. well, this business could be a good way to make money while you sleep.
Start making digital art and sell it to make money. Put a small price on your art, and every time someone buys it, you’ll get paid. Once you make your art, you can keep getting money from it for a long time.
P2P Lending
Peer-to-peer lending is a way of lending money that has been around for a while but is just now being looked at more closely. The person who wants to borrow money pays a fee, and you can make a steady income.
In this kind of lending, you can lend money you’ve saved up and get a higher rate of interest than what the bank offers. There are a lot of platforms that make P2P lending easier and safer for you. This way, you lower the chance of losing your money and get a better return on your income, which is why it’s called “passive income.”
There are some risks with this kind of passive income, so don’t put all your eggs in one basket. Diversify your investments and loans to reduce risks.
A page on YouTube
If you are good at making videos, use your skills to make content that is popular in different areas. You can use the free YouTube channel in a number of ways to make money while you sleep. For example, you could get paid to make content for brands and tell your followers about a brand. YouTube ads are another way to make money.
This way, you’ll get paid when someone watches your videos, clicks on your ads, or buys something from the brand you promoted.
Even with this type of passive income, you need to put in a lot of hard work to build a following.
What people with power do
You can market and advertise your content on Instagram to become an influencer, just like you can on YouTube. A beauty influencer, for example, talks about beauty products, builds a community around them, and helps brands promote their products.
Brands will ask you to promote their products once you have more than 10,000 followers. You have to write a post for the brand to get paid. In exchange, the brand gets the trust of the people who follow you.
This is a passive income because once you have a following, you can keep making money from it.
An App
If you make software, you can make an app that people want to use. In this case, it takes too much time and money up front, but it makes you money every time someone downloads the app.
So, if you know how to make an app and sell it, use your unique idea to get people to buy it. Since we live in the digital age, it’s best to find out what customers think about your idea before you try it. Do a survey to find out if your product is needed or not.
Airbnb
If you buy properties to rent out, you can eventually also start an Airbnb. Buy a property, fix it up, and put it on Airbnb when you have enough space for the inside and a unique experience. This will bring in more money than renting it out, especially now when people are looking for a safe place to get away.
Conclusion
The best thing you can do for your future and financial stability is to earn passive income. Of course, it will take time, and you’ll need to work hard at first and keep your job while things get better. But once you get over that initial difficulty, you will have the life you’ve always wanted.
A dropshipping business is the best way for us to make money while we sleep. Use the dropship-empire tool to set up your dropshipping business and make regular money from it. Check out our website to learn how it works.