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How to Make Money While You Sleep

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How to Make Money While You Sleep

Opinions expressed by Entrepreneur contributors are their own.

Many Americans want to retire by age 67, and many of us would like to create wealth that we can pass down for generations. However, many folks are not on track to reach either of those goals. In a survey of 2,000 Americans ages 40 and up, with a minimum of $25,000 in investable assets, the majority of those in their 40s had less than $100,000 in retirement savings. For those in their 60s, over a quarter had less than $50,000. 

We can no longer rely on a single income source to make enough for retirement, and certainly not for generational wealth. The secret to those who are accomplishing these goals? Passive income.

Passive income is money earned without requiring active work. These forms of income typically require a fair amount of work up front, with the goal of eventually being a hands-off venture in the future. This is how people make money while they sleep. Passive income usually entails investing in stocks or property, or selling a product.

Related: Passive Income In A Global Pandemic? 3 Tricks We Learned For Success in Any Environment

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Ready to get started? Here are a few of the most popular passive-income options. 

1. Digital products

Digital products are online products that can be instantly downloaded or accessed. Ebooks, how-to guides, online courses, templates and apps are all examples of digital products. You’ll need to find a way to market these items. It doesn’t take a huge following to make money  apps like TikTok make it easy to “blow up” with one good video.

With digital products, you’ll also need to find a place to host them  whether you’re selling from your own website or elsewhere. Etsy is great for templates, Amazon is ideal for ebooks and Udemy is popular for courses.

Related: 3 Effective Marketing Strategies for Selling Digital Products Online

2. Investing

Investing is a tried and true form of passive income. Investing in individual stocks takes time and research, so it’s better to invest in mutual funds or ETFs for easy passive income. While there is still some initial research, the stock market is all about time in the market; once you’ve invested, you need to let it sit. This is because of compound interest. The more interest you earn on your investments, the more that interest will earn interest. This is why it’s so important to invest early and consistently. 

 3. Make a YouTube channel

Many people are scared away from the idea of making a YouTube channel for fear of showing their face  but that isn’t a requirement. Have you ever searched for a video of a thunderstorm on YouTube? Or a video of birds chirping to leave on for your cat? People make thousands off of those videos, and they can be created without spending any money.

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Once you’ve set up your channel, you’ll need to find a video and audio. You can find free videos on websites like Pixabay.com, but there are plenty of others to find with a simple Google search. Next, within the YouTube studio, go to the YouTube audio library and search for the appropriate sound. Use video-editing software to put them together, and post the video. Once you’ve been accepted into the YouTube partner program, you’ll begin earning ad revenue.

4. Affiliate marketing

Affiliate marketing refers to selling goods and services that are not your own and earning a commission for the sale. These commissions are tracked via a unique link: You get people to click your link and make a purchase, then get credit and commission for the sale.

People often go about affiliate marketing in one of two ways: by building a presence on social media, or by building a blog. With the first option, you’ll need to create a sales funnel that will ultimately lead the customer to the products you’re selling. With building a blog, you’ll need to flesh it out with content and make sure your SEO is on point so people will find the blog. It doesn’t hurt to have a social-media presence to bring people to your blog as well.

When choosing affiliate programs, you’ll need to first choose a niche, then choose the items with the best commission percentage, so you’re earning the most for your time.

Related: 3 Tips to Get Started With Affiliate Marketing

There are easy passive-income forms, but the really rewarding ones can take some work up front. Once you’ve put in the time, you can sit back and watch the cash flow in. 

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How to Get Beat Out Your Competition by Making a Lasting Impression

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How to Get Beat Out Your Competition by Making a Lasting Impression

Opinions expressed by Entrepreneur contributors are their own.

I’m in the public relations space, and as of last count, there are more than 48,000 other PR firms in the United States. A large fraction of these compete with my agency in the five hub cities where I operate. Yet mine consistently ranks among the highest in those cities — Nashville, for example.

Is it because I know my industry better than my competitors? Because I land more placements for my clients? Because my team is more talented or my network of connections more expansive? As much as I’d like to think that I’m running with the front of the pack based solely on the quality of my services and the effectiveness of my methodologies, it’s far more likely that I earn rave reviews and generate referrals from my clients due to two words: personalized attention.

More specifically, my team and I go well above and beyond to create an exceptional customer experience at my firm because I’ve learned over the years of running my own business that it’s the client’s impression of you that matters most — that’s what informs all other aspects of customer relations, drives all other client decisions and determines if they’ll stay with you or not (even more so than short-term results).

Even in the digital age we all inhabit, with so many automated tasks and productivity tools that populate our workplaces, personalizing the professional is a surefire means to client retention and satisfaction. Here are five practices I regularly follow to make the most positive impression on my clients I possibly can.

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1. Get a copy of your client’s org chart

When you understand the structure of your client’s business, you understand who does what, who reports to whom, and, in turn, you know who to go to for what. Not only is this an immense time-saver — as in not filling people’s inboxes unnecessarily with work that doesn’t pertain to them — but your clients will also appreciate that you did your homework on their staffing.

It’s so much more impressive to send a note that says, “Would your team like to see this before we send it up to Jeremy?” or “I believe Bettina has the final sign-off here” than “Are you the right person to contact about this?” And note the use of actual names here — learning the first names of everyone you’ll be working with moves you into first place faster than you’d think!

Related: 4 Ways to Make the Best First Impression With Your Customers

2. Use proper grammar and punctuation

Make sure that all your communications to your client — and, far more importantly, all the communications you prepare on their behalf — are written properly. Yes, it takes some extra work to eliminate errors. Still, it’s absolutely worth the effort when you consider how much just one typo can mar an entire project (ever seen “pubic” instead of “public”?) and how poorly faulty grammar can reflect on quality output, education level and attracting the intended audience.

Though it may be true that language standards are slipping in America, that doesn’t mean nobody’s noticing the shoddy quality of copy. Some people still notice and care. If your client is one of them, you’ll earn bonus points by knowing the difference between “compliment” and “complement” by not allowing both “San Antonio Riverwalk” and “San Antonio River Walk” in the same publication. Use your grammar checker. Always do a spell-check. Re-read everything you produce. And if you don’t have a language maven on staff to serve as your in-house proofreader, hire an affordable freelancer who can provide quick turnaround times.

3. Choose video over audio

Whenever possible, schedule video calls and videoconference meetings over phone calls and phone meetings. The day and age of in-person meetings is quickly becoming obsolete. Still, there will never be a replacement for face-to-face interaction, eye contact, observing facial expressions and showing your client with every head nod and eyebrow raise that you’re following what they’re saying and closely attending to your conversation.

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During the pandemic, cultivating one-on-one relationships over Zoom and Teams became the new norm, and most people are entirely fine leaving it that way! Interacting over a screen instead of a conference table is just more convenient, time-effective and environmentally friendly. Nevertheless, we can’t afford to lose the “one-on-one interaction” part of business relationships. Remember the old Bell advertising slogan? Well, video is the modern-day equivalent of “the next best thing to being there,” so leverage your camera as often as possible to “see” your clients, not just talk to them.

4. Mark your calendar!

Notate birthdays, business anniversaries, baby due dates. Keep a record of your client’s big meetings and conference attendance. On those days, send a person-to-person text or email. And the more specific, the better, such as “Hope your coffee product presentation in Jersey went well and the traffic wasn’t too bad on the Parkway!” Or “Congrats on baby Elliot. That was my grandfather’s name, and I hope it serves your brand-new son as well as it did him.”

By incorporating the personal into the professional, which is a pillar of my own approach at my company, clients value your role more because you’ve actively endeavored to become part of their lives, not just an appendage of their business. In other words, when you add personal touches to your communications and conversations, your clients can’t help but think of you on a more human level rather than just a professional contact with whom they can easily cut ties.

Related: 6 Strategies for Making a Good First Impression During Business Meetings

5. Observe the line between personal and professional, but use both — often

On a related but separate note: As much as I’m saying to weave personal connections into your daily dealings with your clients, you never, ever want to go too far. You can use humor, but not off-color humor. You can show vulnerability, but you don’t want to appear weak or indecisive. You can ask questions and admit what you don’t know, but be strategic (not lazy) about trying to resolve issues yourself before coming to your clients with them. And be yourself, absolutely always be genuinely yourself, but don’t expose so much that you cross the line into overintimacy or inappropriate divulgence.

By speckling your client interactions with individual touches as you simultaneously maintain proper decorum, you will put a personal face on your business name. And that name will leave more of a mark on your customers precisely because of your adept balancing act between the personal and the professional.

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Part of making a meaningful impression on your clients is consciously putting your best face forward every day, in every way. Don’t let them see a messy office behind you on Zoom, but let them vent about their kid’s tonsillitis for 10 minutes if needed. Don’t bad-mouth other clients or finger-point when things go wrong, but get to know them well enough that you’d love to grab a drink next time you’re in town.

Take every opportunity you can to show your clients — and then remind them often — that “business as usual” to you means being prepared (as in learning an org chart), producing quality output (that’s been proofed), scheduling face-to-face encounters, observing special occasions in their lives and sharing your authentic self, who happens to be a multifaceted, wonderful human being with flaws who’s also an utter professional and a real pro at what you do!

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Protect Your Business Computer From Hackers and Trackers with This $70 VPN Deal

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Protect Your Business Computer From Hackers and Trackers with This $70 VPN Deal

Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

Browsing online and using public networks can make your computer vulnerable to a wide range of hackers and trackers. For entrepreneurs running a business, being bogged down or having your team members bogged down by dangerous, cost-threatening disruptions like these is unacceptable.

A good way to keep you and your team safe and working fast while online is with a reliable VPN subscription. To help, this Windscribe VPN Pro Plan three-year subscription is available for $69.97 (reg. $207) through May 12th at 11:59 p.m. PT.

Windscribe can be a great VPN subscription for entrepreneurs and small businesses because it supports unlimited devices. Going beyond typical VPN services, Windscribe offers itself as a desktop application and browser extension. All-in-all, it can be used to unblock websites, block ads, and keep you safe without expecting you to configure a wide range of complicated settings.

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Windscribe’s no-logging policy will keep your team safe, and its high-end encryption methods will keep their data safe from hackers and trackers.

This service runs on a system of servers in more than 69 countries and 112 cities. It uses something called split tunneling, which allows users to choose which apps use the VPN and which ones don’t. This is a great feature for teams with remote employees who toggle between work and personal programs on the same screen.

Windscribe is rated Very Good on Tom’s Guide and 4/5 stars and above on Tech Radar, PC World, and G2.

Don’t forget that this Windscribe VPN Pro Plan three-year subscription is available for the best-of-web price of $69.97 (reg. $207) only through May 12th at 11:59 p.m. PT.

StackSocial prices subject to change.

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Get Microsoft Office Plus Windows 11 Pro for $70 This Week Only

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Get Microsoft Office Plus Windows 11 Pro for $70 This Week Only

Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

When you run a company, you need every basic tool available to streamline your communications, content creation, and sales abilities. You also need to operate on a computer outfitted with a capable and robust operating system designed to support modern productivity.

Through 11:59 p.m. PT on May 12th only, you can get The Ultimate Microsoft Office Professional 2021 for Windows: Lifetime License + Windows 11 Pro Bundle on sale for just $69.97 (reg. $438).

Known by many for a long time, Microsoft Office Professional features a suite of apps designed to help you write, present, organize, email, and more. Unlike with Microsoft 365, there are no additional monthly fees with Office. These are the ones included with this lifetime license:

  • Access
  • Publisher
  • OneNote
  • Teams
  • Outlook
  • PowerPoint
  • Excel
  • Word

This bundle also includes Windows 11 Pro, the latest Microsoft operating system, which offers advanced security features and productivity elements that can help keep any modern professional on task and safe.

On the security front, the system uses tools like Smart App Control, biometric logins, and TPM 2.0 to help keep you protected. When it comes to productivity, it offers tools like improved voice typing and the support of AI-powered tools like Microsoft Copilot. And because Office includes Teams, you get a hub of communication for your team.

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This deal has several 5/5 star ratings on the Entrepreneur Store, and Windows 11 Pro is rated 4/5 stars on PC Magazine and TechRadar.

Through 11:59 p.m. PT on May 12th only, you can get The Ultimate Microsoft Office Professional 2021 for Windows: Lifetime License + Windows 11 Pro Bundle on sale for just $69.97 (reg. $438).

StackSocial prices subject to change.

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