Every day you go to your job work for eight or more hours and then go home you
repeat the cycle day in and day out then every two weeks you receive your
paycheck and almost immediately after cashing it realize that it's been
consumed by all your bills and routine spending does it sound like you well
this is the sad reality for most people in this solution is to earn more money
but quite frankly who has the time between work family commitments and
trying to stay active there seems like no extra time in the day to make more
money this is why if you want to break out of this financial rut and aspire to
a more financially fruitful life then you need to master the art of passive
income and luckily boss in this video I will share with you five ways to make
money while you sleep and if you're new to the channel then hit the subscribe
button below for more life-changing content let me start off by sharing a
fable about a young man and his mentor and how the young man came to learn the
true path to becoming rich there was once a young man who wanted to become
rich growing up in the middle-class his parents knew very little about achieving
financial wealth so the young man had to find someone who could provide him this
guidance after searching for months for a suitable mentor the young man was
connected with one of the most affluent men in his City one day he went over to
his mentors home and asked his mentor what he had to do to become rich the
mentor smiled and asked how hard the young man was willing to work the young
man replied by saying that he was willing to work from sunrise to sundown
every single day if that's what it took to become rich
then the mentor asked a question that caught the man off-guard he asked how
hard he was willing to work as he slept the young man replied that nobody works
while they sleep but the mentor explained that in order for him to
become rich he needed to figure out how to make money during this time you see
in this world there are two kinds of people those who sell their time for
money and those who have learned how to make money while they sleep and the goal
of this video is to teach you how you can leverage the power of passive income
to make you rich unfortunately many people are stuck in the mindset that the
only way to make money is by working a nine-to-five job which is also known as
earning active income they probably hold this belief because this is the same way
that their parents and friends are in there
owning cups now to be fair in the past this was typically one of the only ways
to earn an income however things have changed dramatically in the past couple
of decades especially with the emergence of the Internet in the information age
we live in today you can build a digital asset that can make you money 24 hours a
day now not everyone is suited for earning this type of income however
making positive income especially through a business often comes with
investing hundreds or even thousands of hours of work before any payoff is
provided for many they simply are not willing to put in the work and face the
adversity that comes with building a positive income stream however for those
who want to invest the time and energy the payoffs can be tremendous so here
are five ways that you can make money while you sleep
number one start your own business whenever I suggest to someone that they
should start their own business I often get the response that they wouldn't even
know where to start to set up their own business from someone who set up
multiple businesses I can share with you two important points not all businesses
need to be complex and it can be the most powerful ways to make money while
you sleep like I said in the past couple of years I have set up multiple
businesses and after doing the initial legwork to get them off the ground I've
done almost no further work but they keep generating income every single
month sure these businesses aren't making me millions of dollars but they
are affording me to live a very comfortable lifestyle you see the key to
running a business that makes you money while you sleep is to leverage the time
and expertise of others for each business I own I seek out and hire a
proficient manager in that field so for instance if you were to start a blog and
have that as your passive income generating asset then you would want to
hire a website manager who is proficient in things like SEO design and content
production by hiring a manager I can free up my own time while also
leveraging other people's skills because while I'd like to think that I'm amazing
at everything that simply isn't true and more often than not paying for someone
else's expertise is worth the cost no quite frankly not everyone is built to
start a business being a business owner takes a certain degree of risk tolerance
and a lot of perseverance given the fact that most new businesses fail within the
first few years but I strongly advise you to do it if you
you have what it takes number to start an online school if you've been watching
my channel for a while you know that while I think school has merit in
certain cases the power of a degree just isn't what it used to be and while I say
that formal degrees aren't as valuable in the market these days it doesn't mean
that education in general is useless in fact I think the more you can learn the
better but I think that technology has evolved to a point where learning has
extended outside the traditional classroom setting which is just another
opportunity for you to start making money while you sleep just a few days
ago I came across the YouTube channel called income school income school and
its content revolves around teaching people how to set up a passive income
website from scratch so that you can replace your nine-to-five income with an
online income generating platform now while the two men who run this channel
provide a lot of great content they also offer coaching and private programs for
those who want to expedite their success you see platforms like this are powerful
when it comes to making money while you sleep because most of the work can be
automated in the example of income school they produce free content and
direct traffic to their programs but once they get someone to sign up the
system automates the rest of the process and students can gain access to all the
content they need to succeed this is ideal if you are running an online
business because after doing the work once which in this case is producing the
course content all you have to do is monitor and make minor tweaks as you go
along meaning that you will be spending only a sliver of your time to make money
while you sleep number 3 start a YouTube channel I may
be biased but I think a YouTube channel is one of the best ways to generate
passive income the earning potential of a loyal audience is not something that
you should underestimate and I'd like to share an example of just how powerful
this income generating asset can be let's say you have an audience of a
hundred thousand subscribers I know you may be thinking that achieving this
level of a following is unattainable but as of early 2020 more than 160 thousand
channels have over a hundred thousand subscribers so this feat is certainly
achievable anyways besides earning ad revenue let's say you made a course you
sold for $100 if you can manage to sell a course to just 1/10 of a percent every
month at $100 course you would earn $10,000 or
$120,000 a year what I am trying to demonstrate is that there is power in
numbers and one of the best ways to grow a following is via YouTube now a lot of
people will argue that YouTube is anything but passive in nature and I
partly agree with that statement you see I personally invested a lot of
time every week to make videos and run my channel from writing scripts to
recording the voiceovers and of course creating the animations I can easily
spend 25 hours a week producing content however I have many friends who are
totally hands-off when it comes to their YouTube channels they outsource all the
content and simply package the videos when they are ready
therefore YouTube's not only has the potential to earn you big bucks but it
can also be an effective tool to make money while you sleep
number four invest in real estate well traditional real estate is more cost
prohibitive to enter than digital products and services real estate
rentals are always going to be a great producer of passive income people will
always need a place to live in to work with long-term rentals you can secure
the tenant then sit back and collect the cash every single month well there might
be a small amount of maintenance do the repairs the income will largely be
passive and you can make it fully passive by hiring a property manager as
long as there's enough positive cash flow but if owning a property seems too
overwhelming there is another way you can earn passive income with real estate
and it comes in the form of a REIT a REIT is a real estate investment trust
that involves buying into private real estate as a partial owner you can think
of a REIT as a mutual fund for real estate investing and like a fund the way
you own it is through buying stocks you see when you own a stock going to read
you earn a share of the profit produced by that real estate investment it's a
way to invest in real estate with out the hustle of being a property owner and
every time profits are shared you will receive your portion of the cash
distributed and the best part was that there was no property maintenance no
dealing with tenants and know chasing rent payments required just invest and
watch your bank account rise while you sleep number 5 set up an e-commerce shop
with the explosion of e-commerce comes the opportunity to create a passive
income stream using an online store in particular drop shipping has become
very popular and if you're unfamiliar with it here's how it works you create
an online store that offers products from certain manufacturers a person
visits your site in orders a product and then your system sends the order to the
specific manufacturer the manufacturer then completes you order by shipping it
directly to the customer at which point you collect the profits one of the cool
things about this type of business is that you do not need to order inventory
meaning a much lower initial cost making it perfect if you have little money to
start with moreover setting up your shop can be inexpensive as well many drop
shippers set up their store using Shopify which charges just $30 a month
which is much cheaper than the thousands of dollars it would cost to open up a
brick and mortar shop in your city in short once you have your store set up
the rest can be completely automated meaning that you will be earning income
no matter what you're doing thanks for watching if you want to go from the life
you have to the life you deserve then hit the subscribe button now