In this current day and age, most people are stuck to one idea of how to make extra money. The common tendency is to get a second or third job, ask for a raise, or make more sales to make extra money on your commission check. The common denominator on these different ways of making extra money is that it takes a lot of time and effort. Making extra money shouldn’t have to be so backbreaking. Learn how to make extra money while you sleep! Get the zzzz’s while you get the $$$. Make nocturnal miracles happen! In more technical terms, this kind of extra money is called passive income.
So how exactly do you make extra money? Here is a list of some simple, practical steps you can apply in order to make the extra money that you need:
1. Become an affiliate marketer. The principle behind making money with affiliate marketing is simple. You support a business’s sales objectives by referring the product to potential customers. The common structure to affiliate marketing is that affiliates get their own URL and Web page and each sales conversion is attributed to the corresponding salesperson.
2. Create a product of your passion that can be mass-produced and sell it! How exactly do you make money using this strategy? Let’s say you’re obsessed with fitness, and have tried every known fad diet under the sun. You could write an e-book about the different diets available out there, and write both cautionary and inspirational tales about diets that work — and those that don’t! In this case, your main source of research will be your own personal experience. If you’re successful, you would be helping a lot of people in the process, and you’d be making extra money while you sleep as your e-book gets sold!
3. Outsource your projects. Let’s say you’re a Web designer out on a mission to make extra money. You have a lot of talent, but only a little time! You have ten Web sites to design and only have four weeks to finish them. Go on freelance Web sites and find other talented Web designers who have reasonable rates, preferably lower than yours. The difference of their rate and your rate charged to the client is the extra money you will make.
4. Offer guidance or instruction to a group of people about your field of expertise. Let’s say you’re a seasoned SEO expert and you know the ins and outs of search engines, keywords, and optimization. You could offer a series of webinars about the basics of SEO as a way to make money. You do the webinar once, but get paid for each member in your audience.
5. Create a blog or Web site. Making extra money with a blog operates on a simple principle. Readers result in an increase in ad impressions, which increases your supply of extra money. Write about what you know, find your niche, and target your online audience. Create fantastic content that will build your readership and make loyalists and subscribers out of them. Your blog’s traffic is your main selling point to advertisers, and when the advertising dollars come in, you will be making extra money while you sleep. I would recommend a blog over a static Web site to make money because it is picked up more often by search engines. Content is constantly being refreshed, and there is much room for extra features such as links, pictures, video and widgets.
6. Learn all about high interest savings accounts and start putting your extra money in one. If you’re going to let your money sit in a bank, might as well make extra money doing it! High interest savings accounts such as money market gives you the assurance that you are not just digging a hole and putting your money in there, you are actually making money while you let the bank take care of your finances.
As we’ve shown you, making extra money while you sleep isn’t the uphill climb that you think it is. With a little bit of strategy and ingenuity, a lot of planning, and skill and expertise, you’re well on your way to creating the income that you dream of. Still have questions? Sleep on it! Making extra money can be as restful as you make it.