Here are interesting and easy ways you can earn a living without sweating too much as the recession continues in Nigeria.
You can really make money the easy way
Do you remember in the past we were warned to be careful about
being in debt because interest never stopped charging us; interest never
slept, never took a day off, and never took a holiday. Well, the
reverse is true, as well.
Is your money making money while you sleep? Does it sound too good
to be true? Since we still live in the age of the interest, it’s not
that difficult to earn extra money on the side.
With that in mind, here are ways that you can actually earn money while you sleep.
Start a blog
Perhaps the most popular way to earn a passive income is by
launching your own blog. It only takes a couple of minutes to set up and
is cheap to start – just purchase your domain name and pay for hosting.
After that, start creating amazing content that people will be
interested in reading or sharing. For example, if you’re an accountant
that has helped small business owners with their taxes, then that could
be your blog. I personally have my invoicing blog to help customers know
everything there is to know about invoicing. This draws thousands of
signups a month.
Make sure the topics you write about are popular. If you still love
your pet rock, I doubt there would be enough people visiting your our
site to monetise it. But you never know.
Once you’ve gained a following, you can start making money from of your blog by:
Earning commissions as an affiliate
This is where you push other people’s products or services on your
site. Make sure these products or services are relevant to your blog.
For example, that accounting blog could become an affiliate for
accounting or invoicing software. Once you find an affiliate partner,
you’ll be given a unique code so that whenever a visitor clicks that
link on your site, you’ll earn your commission.
Sell-advertising
If your site has the traffic to become an affiliate, then it may
also be good enough for advertisers to purchase ads on your site. You
may start off small, like making under $20 per ad. But you may
eventually be able to charge triple digits. Again, your site must be
quality.
Find sponsors
This is slightly different from just selling ads on your site.
Sponsorships may be a one-off piece of sponsored content or permanent
logo embedded in your footer.
Sell your own information product
If you’re knowledgeable in a certain area, then you can start
creating products, such as eBooks or videos, and selling them on your
blog. It may take a lot of work to create and market your products, but
once all the leg work is over, you can just set back and collect the
proceeds.
Earn royalties
If you’re a talented musician, actor, or author, then you could
earn royalties from your work. In other words, people will pay you for
using your work or creative assets.
If you are not talented enough, but interested in earning
royalties, then, check out Royalty Exchange. It’s a marketplace where
you can buy and sell royalties.
Create a membership community
If you have proved yourself to be an authority figure, then you can
create a membership community where you pay a monthly fee to receive
additional high-quality content and information that’s not available to
non-members.
One of my favourite examples is Timothy Sykes who makes more than
$100,000 per month in passive income through his membership community,
which discusses how people can make money in trading penny stocks.
Flip websites
If you’ve put in the time and effort in building a website and you
have gained a lot of traffic, then you may be able to sell it to an
interested party by listing on marketplaces like Flippa. I’ve bought and
sold a lot of sites here and made a lot of money.
Sell physical products
Just like with a blogging site, there are several ways to earn a
passive income by selling physical products. Probably one of the
best-known ways is by selling your old junk on eBay. But even if you
don’t have anything left to sell, you can start drop shopping. This is
where you sell products for a company on eBay or Amazon and they’ll take
care of the rest – including shipping.
You can also launch your own eCommerce store by using Shopify. They
literally give you everything you need to sell products online from a
complete online shop to including buy buttons on your social media
channels.
Invest in stocks or shares
When you invest in stocks, you become a stakeholder. That entitles
you to a share of their profits. Investing in stocks has been a popular
way to earn a passive income for years, and thanks to the internet, it’s
easier than ever to research and invest in stocks on your own.
Peer-to-peer lending
Companies like LendingClub, Propser, and Harmoney have created a
new industry where anyone can become a lender. They will then match you
with a consumer who either prefers or has trouble securing a loan from a
bank. You can earn higher interest rates on the loans you issued since
you’re dealing directly with the borrower.
Rent out property
Thanks to Airbnb, you can rent out your home while on vacation or
your vacation home when not in use. You can also rent out your garage,
parking space, or unused office space. It’s a nice supplementary income
without really doing anything except placing an ad.
-www.entrepreneur.com
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