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10 Secrets Of Making Money While You Sleep

Every minute of the 24 hours, people are shopping online. But that doesn’t mean that one has to be awake for them in order to buy from you.

Now more than ever, people are looking for the new ways in order to make money 24 hours a day, seven days a week, without the need to remain stationed at a desk. But, these new passive ways of earning money does require  to invest a small amount of time automating the work processes.

There are also  thousands of ways which one can also make money on the side nowadays. As long as one has an internet connection and also a  computer or the mobile device, one’s opportunities are endless. Examples of new jobs which one could consider for the  side hustle include:

  • Blogging
  • Teaching online
  • Creating ebooks
  • Building and flipping websites

While the opportunities for the  online work are endless, automating them can be more challenging. Although working online will allow one to work from anywhere, it would be nice to have so spare time on the hands. If one has found work which one enjoys but then still want to take it a step further by generating an income while one sleep, one is required to check out the top 10 secrets.

1. Automate marketing, sales and customer care Chatbots

While one may have already delegated some of the marketing, sales and the customer care duties to the  team members, or would have even automated them with tools such as Hootsuite, there is an easier way to take the time and also  monetary load off the shoulders.

Related Read: An Insight Into My Digital Marketing Automation Machine

Chatbots have also become extremely popular recently because the technology powering them has evolved dramatically. Today, creating an artificial intelligence-powered chatbot is considered as a piece of cake, and one must  thank  the chatbot-building platforms, one does not even need any coding knowledge.

2. Promote yourself as a brand

Whether one has either already found success or is still on the path to finding it, one should look at the ways in which one can promote oneself as a brand. Of course, the chatbot will help with minor marketing tasks, but one also needs to promote oneself in a way that makes others aware that one is a trustworthy, reputable, and also a reliable authority figure in the industry.

In order to achieve this, one must create informational products, such as books, videos, and also  online magazines for the audience. Once one has put in hours creating these pieces, the next step is simply to market them and also watch the money roll in.

3. Simplify your outputs

Also, one can’t do everything, especially if one wants to automate the operational aspects of the  business. To get everything done to the best of the ability, one also  needs  to simplify the  outputs. To do this, one is required to hone in on what one is offering.

Also Read: Scaling Your Startup Is An Art, Not Science

Also, Instead of offering a huge variety of the products and services to the audience, one must focus on a maximum of five that one does  perfectly and grow from there.

4. Sell at a flat rate

Selling the products and services at various rates is complicated and is also  not efficient. Aside from the fact that one  probably has clients big and small, from across the world, it can also make the invoicing system messy.

One must create a company that offers specific services at a flat rate and also allows the  customers to buy these subscriptions and the packages directly from the  website. One will also make more direct sales and the  customers will automatically be more invested in you.

5. Create a product or service that never goes out of fashion

One needs to create a business that either offers a product or service that many people need now or better yet, one that won’t go out of fashion. When it comes to the products, one must think of one that can be created cheaply and that also  requires refills to function.

6. Become an affiliate

There are a number of ways by which one can make money without really doing much. All you are required to do is promote one’s products or services in different channels and get paid in terms of monetary benefits or credits once a transaction is done.

Also Read: How Affiliate Marketing is the Most Cost Effective Way of Generating Sales

7. Teach others

By teaching others, . taking an authoritative role in the  field of work and also teaching the  entrepreneurs the methods will work in your favour. There are a number of ways in which one can teach others, some of which include:

  • Mentoring
  • Lecturing at a college or university
  • Writing a blog
  • Creating a book
  • Talking at events and conferences

8. Invest in other companies

An investment, in simple terms, is a way for the money to make more money. Although the lending needs are required to be calculated, one should also  invest some of the profits into other companies that fulfill other needs which the customers may have.

It’s a good way for one to make more money while establishing oneself as a figure that helps others and also understands the audience’s desires.

9. Hire a team

Simplifying the outputs is great, but one needs  to have the right team to back one up. One also  needs  a team that is both reliable and diverse.

Related Read: Smart Steps For Building A Dynamic And Robust Startup Team

Every area of the company needs to be covered by an expert in that field. One will need a marketing, sales, customer care, finance, and human resources guru, among others.

10. Optimize your efforts

Once every aspect of the company is  up and is running, one must then evaluate, re-evaluate, and should also optimize them to ensure they are performing to the best of their ability.

Automating the processes will help to organize oneself in a way that makes the operations efficient. By doing so, one will not only make money while one sleeps , but one will have more time to invest in the other projects that can be automated in the same way, creating a money-making lifecycle that could eventually make one millions.

(Disclaimer: This is a guest post submitted on Techstory by the mentioned authors.All the contents and images in the article have been provided to Techstory by the authors of the article. Techstory is not responsible or liable for any content in this article.)

Image Source: Blickamabend.ch

About The Author:

This article has been contributed by Simran Setia, Content Manager, LegalRaasta- an online platform for GST Return Filing & GST Registration.

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