So you want to make money while you snooze? The concept of passive income has gained traction as an attractive way to achieve financial freedom and generate a steady stream of revenue with minimal ongoing effort. It allows individuals to diversify their income sources and even create a full-time business. Here are seven strategies to help you build a passive income stream and potentially earn money 24/7.

1. **Real Estate Investing:** One of the most well-known passive income strategies is investing in rental properties. Buying and managing properties to rent out can be a lucrative venture. You can benefit from regular rental income and potential property value appreciation over time. Consider using a property management company to handle the day-to-day tasks, making this a more hands-off investment.

2. **Peer-to-Peer Lending:** If you have some capital to invest, peer-to-peer lending platforms allow you to act as the bank. You can lend money to individuals or businesses and earn interest on those loans. As borrowers repay the loans, you receive a steady income stream. This strategy requires careful selection of borrowers to minimize default risk.

3. **Dividend Investing:** Investing in stocks that pay dividends is a popular passive income approach. Companies distribute a portion of their profits to shareholders in the form of dividends. By building a portfolio of dividend-paying stocks, you can generate regular income. Reinvesting the dividends can lead to compound growth over time.

4. **Create Digital Products:** Digital products, such as e-books, online courses, or software, can provide ongoing income. Once created, these products can be sold repeatedly without the need for constant work. Market your digital products effectively to reach a wide audience and generate sales on autopilot.

5. **Affiliate Marketing:** This involves promoting other companies’ products or services and earning a commission on each sale. You can include affiliate links in your blog, website, or social media content. When someone purchases through your link, you earn a passive income commission. Building a large audience and focusing on high-quality content can maximize your earnings.

6. **Advertising Revenue:** Monetizing a blog or website with advertising can generate passive income. Platforms like Google AdSense allow you to display ads on your site and earn money based on impressions or clicks. As your website traffic grows, so does your revenue potential.

7. **License Your Photos or Videos:** If you have a talent for photography or videography, consider licensing your content. Submit your photos or videos to stock content websites, where businesses and individuals can purchase the rights to use them. Each time someone licenses your work, you earn a royalty.

Remember, building passive income streams takes time and effort upfront. However, once established, they can provide ongoing revenue with minimal maintenance, allowing you to earn money even while you sleep.