Thank you for stopping by, today I will be taking you in an exciting ride on 17 Genuine Businesses to increase your income while you sleep in 2020. If you haven’t checked my previous article, remember to click the link at the bottom of this article to catch up and know how you can make your relationship better or attain financial freedom with your partner.
Back to the topic, do you want to escape the 9-5 job and attain financial freedom? I bet everyone wants this and it’s about time you walk your talk.
The first lesson about achieving financial freedom is to stop working for money and learn how to make money work for you as stated by Robert Kiyosaki in Rich Dad, Poor Dad.
When you finally unlock this art, you can comfortably sleep and let your income double but it takes time, practice, patience, and determination.
Are you a teen, an adult or a couple striving for financial freedom? Then you are in the right place and the good thing is once you venture into these businesses, you can make money while you sleep, travel and create your own work schedule.
All you have to do is work hard during your first days to put your business or brand in the spotlight and after that, you earn in a way that requires little or no daily effort.
Are they Genuine?
Scams are unfortunately the aspect of the world we live in but still, there are genuine businesses you can start. The list below contains 17 businesses capable of changing your life and all are proof basing on my research and interaction with some of the successful people doing these.
11 Genuine Businesses to start in 2020
- Start A Blog
This is one of the best ways to earn income but it requires a lot of hard work in the setup phase. You have to be patient and dedicate your resources, time and some money to set up your blog before you monetize it and start earning.
To generate income for your blog, you can use affiliate marketing, apply for ads, sell ad space or generate leads for various companies. However, blogging is a competitive business so you have to choose a less competitive niche and create quality content.
You can also leverage social media to drive traffic in your blogs since more traffic=more cash.
2. Write and Sell an Ebook
The world is full of people looking for quality information and is ready to pay for it. To balance this equation you can create your own business by writing an ebook on a topic you are knowledgable about and people are looking for answers for.
This creates an automatic cash flow in the buy and sells a business. You can self-publish your own books at Amazon but make sure you pick a profitable niche.
Podcasts are a way of tapping into the richest segment of the population. Studies show that about 90 million rich people listen to podcasts monthly and once you establish a good fan base, you can make money using sponsorships, selling your products and advertisements.
Affiliate marketing is a great way of making money from home since all you need is a computer and a loyal audience. The trick with affiliate marketing is that you have to promote someone’s products to earn.
To succeed in this business, create a loyal following via social media, your website or youtube then pick products that are valuable to your audience and pitch them on buying.
5.Star a dropshipping store
This is one of the greatest ways of being an entrepreneur since it enables you to run an online store without worrying about product manufacturing, stock, and shipping.
You can get all your desired products to sell from AliExpress then sell via eBay or Amazon.
6. Sell WordPress Themes
This is one of the fast-rising and profitable businesses since every company needs a website and a website needs a good WordPress theme.
It is also booming since a lot of people use already customized themes hence giving you an upper hand in succeeding in the business. Therefore, you can sell your WordPress themes on your website or WordPress market place like Themeforest.
7. Start A youtube channel
Studies show that video marketing is the future of content marketing and a youtube channel will definitely give you leverage in your future career.
With a YouTube channel, you can create an income stream through advertisement, monetization and offering tutorials.
8. Create Online Courses
An online course is a passive and independent source of income for content creators specialized in certain areas. People prefer online courses since they are brief and straight to the point.
Here are some amazing platforms you can use to host your online courses:
9.Invest in Real Estate
Dan Lok, in one of his youtube videos, mentioned Real Estate as one of the industries capable of making someone a millionaire. It is true and investing in real estate is a ticket to your financial independence.
10. Buy a blog
Buying a blog is also a good way of kicking off your journey to financial freedom by making money without much of a hassle. People sell their blogs because they can no longer keep up with the writing pace, tired of the game or their blogs are no longer making more cash.
For starters, regardless of whether the blog is making a lot of cash or not, it is fairly a good deal for you rather than starting from scratch. You can buy a blog from Flippa or approach the owner personally.
11. License and Sell your photos
If you enjoying snapping pictures of your environs whether they are nature pictures, portraits or wildlife and you know you are an excellent photographer, then you can license and sell your pictures online.
Here are some of the best websites to sell your pictures online:
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