This post was inspired from entrepreneur.com. Here are 9 guaranteed ways to make money in Nigeria while sleeping…and no, ponzi schemes are NOT included!
1. 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 would be interested in reading or sharing. For example, if you use social media a lot and you have quite a following, this is your chance to grow something your friends would like before branching out. Have a niche and you are good to go! I handle blog consultations and blog niche, so you can hit me up on the blog’s official mail for some tutorials.
Once your blog starts getting visitors, you can start making money in 3 ways:
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, an 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 you’re 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(or its equivalent in naira). But, you may eventually be able to charge triple digits. Again, your site must have quality stuff. Not to worry, just send me a message and Ill connect you to those that built mine.
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.
2. 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.
3. 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 aren’t talented enough, but still interested in earning royalties, then check out Royalty Exchange. It’s a marketplace where you can buy and sell royalties.
4. Create a membership community.
If you’ve proven yourself to be a 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. Think of something like a glorified group where you dish out quality information.
5. Install an autoresponder.
Another common online business model is using autoresponders to sell services, products or memberships. This is where people leave their email address on your site and then they’ll receive an automated email containing the link to download products or quality information you have to offer, as well as follow-up with a series of emails.
You’ll a need service like OptinMonster to make this possible.
6. 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.
7. 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 or olx or jiji.com. 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.
8. 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.
Keep in mind that the stocks you invest in can change throughout the various stages of life. This is not in any way related to any ponzi scheme.
9. Hire a middleman.
This is also known as arbitrage and is basically where you have someone else do the work for you. For example, you could start a dog walking service or web design firm, but outsource the actual dog walking or coding to someone else. You’re much better doing anything except being the middleman who is in charge of marketing these services.
Got more suggestions? Drop a comment and share!