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Mon Jul 26, 2021
Warren Buffett says “if you don’t find a way to make money while you sleep, you will work until you die”. How does that sound?, scary doesn't it. Nobody wants to work until they die but in the real world just about everybody work until they die. Just very few people cross the ladder into financial freedom and just few people understand that you must not work hard always but you could work smart and get even better results.
If you are tired of working your ass out all day for a company that barely appreciate you, if you are tired of missing out good time with your family then its time for you to learn to make money while you sleep; in essence learning to generate passive income and live the life of your dreams.
Some people are their own prisoners, they lock themselves in complacency and never see the brighter side of life. It is easy to stay in mediocrity and deceive yourself that you are simply being contented with the little you have. It sounds good to be contented; yes, morally it really does but just so you know, there's a fine line between mediocrity and contentment.
If you have to make money while you sleep then you must be tired, dissatisfied and even angry with your current situation. Weak people give up to easily and will rather bend to the status quo rather than bare the pains of sacrifice and persistence. To succeed into financial freedom you need to copy world class examples in the spirit of persistence like Harry Bernstein who authored countless books that were rejected until age 96 when victory came his way. Nevertheless you wouldn't have to wait for that long if you follow these steps.
The digital world presents to you a massive opportunity to earn passive income that can make you live the life of your dreams even while you sleep. You can create your YouTube channel and grow it to a point where you have thousands of followers. You can allow YouTube run ads on your channel and each time viewers click on the adds, you will be getting half the money the business paid to run the ads.
That sounds really good, doesn't it?. Even kids are making millions out of YouTube; for-example in 2019, 10 year old Ryan Kaji was YouTube's highest earner making up to $26 million. This good news didn’t happen over night but if you will only start, with consistence and persistence you will get there.
Write a great book and sell on platforms like Amazon’s Kindle. If you have a talent in story telling this could be a fruitful venture for you. You don’t have to worry Amazon will will do most of your marketing work and will pay monthly for the sales. You could also step up your marketing by selling your book on your own blog. It will be more profitable. There are no limits to what you can do with your book. You could advertise it even locally through mainstream media and have tons of offline sales.
Just like a YouTube channel, you can create your blog and feed it with content until it matures for ads. This is one of the most reliable ways of generating passive income, it will definitely take some time to get your blog popular but ones you blog is up there you can sell just about anything in your niche.
While digital products are often cost friendly, traditional real estate are just the exact opposite; this is where you put in the money to get the money. You can for example, build houses and put on rents, people will always need a place to stay, so this is a very safe investment. Moreover, you can buy land and let it to appreciate in value and then you resell. With real estate you can make a life time stream of passive income.
Agriculture is another incredible live changing investment. Just like most businesses, it will require great inputs but the turn outs are impressive. The need to think Agriculture for a sure and sustainable income is necessary. Think of it like this “is there a single day that goes by without you eating”, food will forever be a priority and a necessity. If you can grow cash crops like coffee, cocoa, palms or even fruit trees like, oranges, grapes, mangoes, you can be sure of a making great passive income in a couple of years.
This also a path to great passive income, many people have become extremely rich just by using their speech. If you can convince people to patronize companies by either buying their products or joining their systems then you can make good money here. Network marketers get compensated for bringing people into the business. They build a whole network of followers and receive commission for what ever transactions happens in their down lines.
Big companies understand that word of mouth advertisement can sometimes go further than even media adverts so they use this strategy to spread the gospel of their business.
Your commitments and responsibilities will only keep growing, so how do you face a growing responsibility with a stagnant income? Indeed making money while you sleep or generating passive income is a necessity. Your residual income may provide your needs and handle a few other things but it will hardly allow you to live the life of your dreams. You deserve to live your best life so get up now and do the needful.
A Cameroon based writer