A close friend of mine has recently had to go on to anti – depressants, simply because of the high stress job that he has. My friend has to deal with deadlines, demanding clients, staff that don’t quite pull their weight, and if he makes an error in judgement himself, there could potentially be a loss of thousands.
Why does my friend continue to do this day in and day out? Is it because he loves what he does? Is it because he receives praise for the great job that he does? No, it’s because he has a wife and kids, and he is committed to providing for them, not only now, but also for the future.
I’m sure that this story is not unfamiliar to most of you who are reading this post right now. Most of us are so desperate to provide for our families that we are willing to sacrifice all of our time, our desires, even our own health to make sure that our loved ones have what they need and desire. It truly is amazing what one would sacrifice for those whom he / she loves.
Never before in history has there been so much pressure to bring in as much money as there is right now. Everything is becoming more and more expensive, and it’s not just the luxury items, it’s the bear necessities like food, shelter and clothing. Medical bills are sky rocketing out of control. My medical aid costs nearly as much as my food bill, which is more than my rent. The sad truth is – there is no end in sight to this every increasing cost of living.
This is why so many millions of people are burned out, depressed and even suicidal. It’s because life revolves around waking up every morning simply to work harder and longer hours just so that food can be put on the table. And then when there is not enough money, the credit card is pulled out which then is eventually is maxed out. Once that card is maxed out, then many people apply for a second or third credit card or take out a personal loan.
What is the end result? The price of things will continue to increase, you will still be earning less than what your minimum budget requires, but now you are in so much credit card debt, you will never be able to repay it. Where will the extra money come from?
This is why so many thousands of people are looking for ways to earn extra money. People are desperate and end up trying anything to get just that little bit extra to pay the bills. The problem is that most of these people don’t actually know what they are doing, or where they must start looking to earn this extra money.
How Do Successful People Make Their Money?
How is it that some people just seem to get it? What is ‘it’ you ask? ‘It’ is the ability to generate so much money that they never have to worry about those every day, every month, bills that most people worry about continually. It appears as if these people make money while they sleep.
How do they do it?
What most of these people do is create Passive Income. Passive income is simply revenue that comes in without you being directly involved, i.e. you are making money while you are sleeping, or are on holiday on the beach or wherever else you may be.
At this point I need to state that even though these people earn money without their direct involvement, it does NOT mean that they have put in no effort to get to this point. On the contrary, these people have put in a lot of tireless hours and made many sacrifices to get to the point where they can almost sit back and watch the money roll in.
The fact that even these successful people have to put in a lot of initial effort to become successful, is proof that you need to stay away from any program that promises that you will be making lots of money in just a few days or weeks.
Success comes from hard work.
There is another source of income known as Active Income.
Active income is the opposite of passive income, i.e. you have to be directly involved in the income generating process e.g. selling baby clothes online. You will need to make the clothes, or source the clothes. Once the ordering and payment is done for the baby clothes, then you will need to make sure that the product is posted off to the the paying customer and then you will need to follow up to make sure that the product arrives at that customer’s door. If you are not working at the business, then no money will come in. (There are of course exceptions to this Active income business model, but this is the most common model for it).
There is nothing wrong with this way of generating income. It is especially great if the product that you are selling is something that you make or are just extremely passionate about, but as mentioned above you will need to be involved in the process from beginning to end i.e. no clothes can be sold and processed and delivered while you are sleeping 🙁
The focus in this article is of course ‘How to make money while you sleep’, therefore the income source we are focusing on is the passive income source.
So how do you make money while you sleep?
I will give a list of several ways in which you can make money while you sleep, but for now they will be dealt with briefly. I will go into more detail for each method in subsequent posts.
Setting out a Niche website
What is a niche? The definition of a niche is ‘a specialized market’ according to the Merriam – Webster dictionary. Another way of understanding it is as a distinct segment of the market or in short a niche is simply your audience.
In terms of a niche website, you can build a website based on hundreds of thousands of different topics focused on a specific audience e.g. dad’s working from home, or minimum wage workers needing to earn extra income, or even people who want to learn how to do certain crafts, or skills.
Is there something that you are good at and are passionate about? You can turn that into a niche website.
Once you have a niche website, then you can earn money by either selling your own products or services, or you can sell someone else’s product by become an affiliate of that company. You will earn commission when someone buys that product.
This is a great way to earn passive income.
For more information about niches and how to choose niches go here.
Also have a look at this list of 100 niches to help you get a quick understanding of Niches. Click here.
Starting your own blog / Authority website
This very similar to a niche website, except that you will be adding a lot more regular content compared to a niche website and this will be more community focused compared to traffic focused as it is with a niche website.
Here is a great idea for a blog or authority website: If you are currently studying for a certain qualification in a specific field, then you can start a blog on whatever subject or for whatever exam you are specifically studying. This will not only help you to learn better and as a result find it easier to ace the exams, but you will be helping many others to do the same….and you can earn money from it.
You earn money in basically the same way as with a niche website i.e selling you own product or someone else’s product through an affiliate program or AdSense.
If you have the ability to write great articles on a topic or several topics, then you can make money even if you don’t have your own website.
Websites like InfoBarrel, are a great place to write your article and post it. Have a look at how InfoBarrel works here.
You will generate income via Google AdSense. When someone clicks on an advert that is showing on your article then you will get paid for it.
The great thing about this way of generating income is that once you’ve written your article, the article will generate income for you without you having to touch it ever again.
You can really earn money while you sleep with this one.
What’s the Next Step?
There are other ways in which one can earn an income online, specifically passive income, but the above 3 methods are some of the most popular methods.
What can you do with this information? Knowing that you can earn money from starting a niche, blog or authority website or article writing is great, but what is your next step?
This was my hurdle for the longest time, for over a year in fact. I never knew how to take my knowledge of knowing what to do to How To Do It!
I believe that this is why so many people are stuck in the holes that they find themselves and their families in, and they just give up.
My big problem is that when I don’t know how to do something, I won’t even try until someone can show me in detail what to do. So the reason why I took so long to start my online business is that I never knew anyone who could show me how to get started.
But just before I gave up, I stumbled across a program called Wealthy Affiliate. Wealthy Affiliate has shown me how to get started from scratch. My advice to you is to try Wealthy Affiliate out and find out how it can help you start your very own successful online business.
Please have a look at my Wealthy Affiliate Review over here, and please let me know if the review helped you at all.
Take A Step of Faith!
In closing, I am a husband to an amazing wife and the father of two precious children, whom all mean the world to me, and I will do whatever I can to provide for all their needs including more time with them. That is exactly why I took the leap into starting my own online business.
Please don’t let fear stop you from making the change in your life, there is great help out there. Just take the step of faith.
I would love to hear from you and help you with any questions you may have so please leave your comments below or get hold of me on my Wealthy Affiliate profile here.