Do you make money while you’re sleeping? Basically, when you wake up the next day, do you get richer by NOT doing anything?
If you don’t make money when you’re not working, then you not doing a good job at creating income streams for yourself. Now, I’m not referring to those who have jobs or being employees — this matter is actually very real for almost everyone! I mean, a fitness trainer, a surgeon or a professional speaker will experience this too!
I like to share with you the 3 major ways how you can make passive income:
User money to make money. Have you heard the quote, “the rich gets richer”? Precisely. They know how to invest their money to “work harder” for them. Doesn’t matter if the money is invested in real estates, bonds, currencies, stocks, gold and so on… the plan is, the money grow on its own.
I want you to understand this — this game applies to all level of people and it’s not applicable just for rich people only. The concept is simple… if you have more, you can do more but even if you have little, you can still make some. Many people failed to understand this concept and did not start at all. If they did start, years later on, there will be some money made and more importantly, it creates the momentum to use this method.
Use Other People’s Time. You just need hire someone else to do the work for you, whether you’re hiring an employee or a freelancer. Now, the strategy is this – at first, you start doing it on your own and figure out how much you can make with your time. Basically, as long as you can make more than what you’re paying others, well, you’ve just make money on auto-pilot. In another word, you use “business” to make money for you while you’re sleeping.
Develop Products. This is by far, my favorite because it doesn’t really need money to make money or finding the right people to work for you. For instance, you’re an author and your book becomes a best-seller. When that book is being sold, you’re not working at all. Now, I’m giving the book example because most people can relate to that concept easily but the fact is, there are so many kinds of “products” that can be created, even by ordinary people. Examples – Apple apps, video recordings, MP3 songs/music, Facebook games and many others.
The question is, can I do it?
I think the answer is yes. Don’t you have $1,000 buck with you right now? What are you doing with it? Find a place where your money can make money for you because if you don’t do anything with it, it’ll be spent anyway.
The internet allows you to hire people and frankly, there are thousands of people waiting to be “employed” by you.
Creating a product is easy because there are many websites that will give you this opportunity. Facebook, Apple and Google allow you to have your app/software listed on their platform to be promoted and sites like Lulu.com and Booklocker.com can print books on demand. Not “creative” to think of product ideas? Well, there are plenty of books and courses to teach you and if this is still not your cup of tea, well, option 1 and 2 above are available.
The truth is, most people are not “doers”. And I can understand that because when hey don’t see the financial reward immediately, they procrastinate to take action.
But when you start making money while you’re sleeping, you’ll be so glad you’ve decided to sleep less, save money for investing, learn new knowledge, cut off watching TV, stop wasting time surfing internet endlessly and do all of the “painful” things to setup your multiple streams of income. I know I do.
If you like what you’ve read, find some truth to what I’ve shared or just like to say something, please leave your comment — I read every one of it personally.
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