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Money-Making Tips for Earning Cash While You Are Asleep

Everyone who does not work has a scheme that does.
— Munder's Law

The avocation of assessing the failures of better men can be turned into a comfortable livelihood, providing you back it up with a Ph.D.
— Nelson Algren

Today’s Most Exciting Unconventional Business That Allows You to Make Money While You Sleep...


Perhaps you have financial problems because you earn way too little and can’t cut expenses. In this case, if you want to upgrade from a dump you’re living in today to something closer to the Taj Mahal in the next few years, you have to make some changes in your life so that you make more money.

One way is to earn money while you sleep in an unconventional job associated with the information business. Some people call the information business “the real estate of the twenty-first century.”

Money doesn't sleep.
— Unknown wise person

For many decades, the best way to become wealthy was through real estate. Today it is information. The person who creates timely information, and markets it effectively, can prosper and generate more wealth than most people can with real estate.

What I like about the information business is that it is an exciting business, in fact, one of the most exciting in the world. It can also be a difficult business if you don’t have a decent product or don’t know what you are doing. If you develop a good service or product, and pay your dues to learn the ropes, however, this exciting business can be highly lucrative financially and very rewarding personally.


What better way to prove that you understand a subject than to make money out of it?
— Harorld Rosenberg

The information business has been experiencing unparalleled growth for several years and will continue to do so for decades. Why not get into this business? You can be the source of ideas, data, and entertainment that people and businesses want. Here are some of the benefits of being in the information business:

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Easy to create
*
A large global market
*
Easy to research, particularly on the Internet
*
Inexpensive to produce
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Can sell information from practically anywhere in the world
*

Fun to sell
*
Prestigious career compared to most jobs

Since there is no lack of information in the world, the opportunity is not so much in coming up with new information as it is in packaging it properly. You want to make the information user-friendly. User-friendly means time-friendly — information that is easy to read and takes as little time as possible to read.

Being good in business is the most fascinating kind of art. . . . Making money is art and working is art and good business is the best art.
— Andy Warhol

The great thing is that you don’t have to come with anything new. Better still, you can sell the same information that other people are selling and make a lot more money than they are. To do this your information should be simpler, cheaper, easier to understand, smaller, and/or more timely. It can also have more value because it has more features.

Another great benefit to being in the information business is that you can develop multiple layers of products and programs by leveraging your information into residual streams of income. You don’t want to specialize in too narrow of a field; the more specialized you become, the more dependent you are on that specialty. Broadening your opportunities allows you to make much more money in good times and still be able to do well when one of your information-making programs falls on bad times.

Ways to Sell Information

• E-books
• Audio books
• Audio programs
• Video training
• Multimedia programs
• Workbooks or manuals
• Coaching programs
• Consulting
• Keynote speaking
• Seminars
• E-zines
• Newsletters
• Branded retail products such as T-shirts
• Foreign rights
• Licensing for websites and cell-phone promotions
• Mentoring and apprenticeship
• Infomercials
• CD Rom/DVD Training
• Joint ventures

What makes the information business so delightful is its expansive nature. You can start with only one product or service but additional opportunities are sure to keep evolving over time. What’s more, the inherent nature of the information business provides you with an ongoing education as you learn more and more about your subject or area of expertise.

The information business is all about ideas. Figure out what the market wants and deliver it in a way no one has before. A key to making it big in the information business is to create and market information that you are passionate about.

Put another way, you have to be in love with your product, whether it’s a book, video, or branded retail product. If you are crazy about the information you repackage, the marketing part becomes so


much more enjoyable — even a breeze.

Syzygy, inexorable, pancreatic, phantasmagoria — anyone who can use those four words in one sentence will never have to do manual labor.
— W. P. Kinsella

Possibly the most powerful aspect of the information business is that you have the opportunity to create intellectual property that will give you residual income for many years to come. New or repackaged information can become your intellectual property. Whether through games, training franchises, books, tapes, or videos, intellectual property can provide you with residual income that continues to come to you long after you have created the product.
Indeed, the staying power of intellectual property will earn you money while you sleep. Take, for example, The Joy of Not Working. This book was first published in 1991 and today it still earns me over $20,000 a year in royalties.

To bug my friends working in real jobs, I say, “Why do you think I often sleep in until noon? I do this to earn an extra fifty bucks or so from my intellectual property. I also often take a nap late in the afternoon and make myself another twenty-five bucks.”

One of my favorite examples of the staying power of intellectual property is the album Bat out of Hell by Meat Loaf, the legendary rock-opera singer, born Marvin Lee Aday. Aday was given the nickname Meat Loaf by his abusive and alcoholic father.

At the age of eighteen, after the death of his mother to cancer, Meat Loaf left his Dallas home to make it on his own, and in 1977 he released his first album Bat out of Hell. The amazing thing is that almost thirty years later the album still sells over 500,000 copies a year and has now sold thirty million copies. As you can well imagine, Aday and members of his band still get a handsome royalty check every year.

Of course, I don’t expect you to become a singer to capitalize on the power of intellectual property — although you would probably have a better chance of doing this than I, given what a terrible singer I am. The point is that rock stars aren’t the only individuals eligible for royalties. You can create an audiotape, syndicate a cartoon, invent a product, or sell an idea to a major corporation.

Keep in mind that not only am I a terrible singer, but I am also a lousy writer — according to some people, anyway. But I still make a decent living. You can also earn a decent living from intellectual property, particularly if you agree by now that I am a lousy writer and are sure that you can write better than I can. What more proof do you need?

Most people are too busy earning a living to make any [real] money.
— Joe Karbo


 

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