How I Make $5,000 Per Week Doing Nothing

Not everyone is suited for earning this type of income, but you can build a digital asset that can make you money 24 hours a day.

Making a positive income stream, particularly through a business, often necessitates hundreds or even thousands of hours of work before any payoff is realised, and many people are unwilling to put in the effort and face the challenges that come with doing so.

However, for those willing to put in the time and effort, the rewards can be enormous.

So here are five ways to make money while you sleep: number one, start your own business. Whenever I tell someone they should start their own business, they always say yes.

From someone who has started multiple businesses, I frequently get the response that they wouldn’t know where to begin if they wanted to start their own.

I have two important points to share with you. As I previously stated, not all businesses need to be complex, and it can be one of the most powerful ways to make money while you sleep. In the past few years, I have set up multiple businesses and after doing the initial legwork to get them off the ground, I have been able to make money while I sleep.

I’ve done almost no additional work, but they continue to generate income every month. These businesses don’t make me millions of dollars, but they do allow me to live a very comfortable lifestyle.

You see, the key to running a business that makes you money while you sleep is to take advantage of other people’s time and expertise.

I look for and hire a skilled manager in that field.

1. Create a blog

For example, if you want to start a blog as a passive income generator, you should hire a website manager who is knowledgeable about SEO design and content production.

I can free up my time while also leveraging other people’s skills because, as much as I’d like to believe that I’m an expert at everything, that simply isn’t the case, and paying for someone else’s expertise is more often than not well worth the money.

No, not everyone is built to start a business. Being a business owner requires a certain level of risk tolerance and a lot of perseverance, especially given the fact that most new businesses fail within the first few years. However, if you think you have what it takes, I strongly advise you to go for it.

2. Open a virtual school.

While I believe that school has value in some cases, the power of a degree is no longer what it once was, and I believe that formal degrees are no longer as valuable in the job market. This is not to say that education is ineffective in general.

In fact, I believe that the more you learn, the better, but I believe that technology has advanced to the point where learning can now take place outside of the traditional classroom setting, which is just another way for you to start earning money while you sleep, as I mentioned a few days ago.

I came across the YouTube channel income school, which focuses on teaching people how to build a passive income website from the ground up in order to replace their 9-to-5 income with an online income generating platform.

Now, in addition to providing a lot of great content, the two men who run this channel also provide coaching and private programmes for those who want to accelerate their success.

In the case of income school, you can see how powerful platforms like this are when it comes to making money while you sleep because most of the work can be automated.

They create free content and use it to drive traffic to their programmes.

However, once they’ve gotten someone to sign up, the system takes care of the rest, allowing students to gain access to all of the resources they’ll need to succeed.

This is perfect.

If you’re running an online business, because once you’ve done the initial work, which in this case is creating the course content, all you have to do now is monitor and make minor tweaks as you go, you’ll be spending only a fraction of your time making money while you sleep.

3. Start An YouTube Channel

I may be biassed, but I believe that a YouTube channel is one of the best ways to generate passive income. The earning potential of a loyal audience is not to be overlooked, and I’d like to share an example of how effective this income-generating asset can be.

Assume you have a hundred thousand subscribers on your mailing list.

I understand if you believe that gaining this level of popularity is unattainable.

However, more than 160 thousand channels have over a hundred thousand subscribers as of early 2020.

So, aside from generating ad revenue, this feat is certainly attainable.

Let’s say you created a $100 course and sold it. If you can sell a $100 course to just 1% of the population every month, you’ll make $10,000 or $120,000 per year.

What I’m trying to show is that there is strength in numbers, and YouTube is one of the best ways to grow a following.

Many people will argue that YouTube is anything but passive in nature, and I partially agree with them.

Every week, I dedicated a significant amount of time to creating videos and running my channel, from writing scripts to recording voiceovers and, of course, creating animations.

I can easily devote 25 hours per week to content creation.

Many of my friends, on the other hand, are completely hands-off when it comes to their YouTube channels.

They outsource all of the content and then package the videos once they’re finished.

As a result, YouTube not only has the potential to make you a lot of money, but it can also be a good way to make money while you sleep.

4. Make a real estate investment.

Traditional real estate, on the other hand, is more expensive to enter than digital products and services. People will always need a place to live in order to work with long-term rentals, so real estate rentals will always be a great source of passive income.

You can secure the tenant and then collect the rent on a monthly basis.

Although some maintenance and repairs will be required, the income will largely be passive, and you can make it completely passive by hiring a property manager as long as there is sufficient positive cash flow.

If owning a property seems too daunting, there is another way to earn passive income with real estate: a REIT. A REIT is a real estate investment trust that involves investing in private real estate as a partial owner.

You can think of a REIT as a real estate mutual fund, and you own it the same way you own a mutual fund: by purchasing stocks.

You see, when you own a stock that is about to go up in value, you get a piece of the profit generated by that real estate investment.

It’s a way to invest in real estate without the hassle of being a property owner, and you’ll get your share of the profits when they’re distributed. The best part is that there’s no property maintenance, no dealing with tenants, and no chasing rent payments to worry about. Simply invest and watch your bank account grow while you sleep.

5. Open an e-commerce store

With the rise of e-commerce has come the opportunity to create a passive income stream by operating an online store, with drop shipping being particularly popular.

Here’s how it works if you’re not familiar with it.

You create an online store that sells products from specific manufacturers. When a customer visits your site and orders a product, your system sends the order to the manufacturer. The manufacturer then fulfils the order by shipping it directly to the customer, and you profit.

One of the great things about this type of business is that you don’t have to order inventory, which means a lower initial investment, making it ideal.

If you don’t have a lot of money to begin with, setting up your shop can be inexpensive. For example, many drop shippers use Shopify, which costs $30 per month and is much less expensive than paying thousands of dollars.

In a nutshell, how much would it cost to open a physical store in your city?

Once you’ve set up your store, the rest can be completely automated, allowing you to earn money no matter what you’re doing.