The demand for software developers grows year after year, and those who are particularly good at the craft will find income to be hardly a problem. However, generating passive income can be a lot trickier. Those looking for a life free from constricting schedules will pick up a thing or two from this comprehensive guide
What you know about Passive Income
Most people think of generating passive income as something that requires little or no effort. While this can be true in some cases, you’ll only be able to make a decent amount of money if you invest.
- When deciding on a passive income strategy, you’ll have to decide if you’re more comfortable investing time, money, or both.
Create an eBook
Consider working with affiliates
- Tap into your leads
- Your new subscribers are fresh opportunities to generate passive income
- Use platforms to handle your promotion
- Referrals from your website can also be a way to earn passive income as you grow your business
Blogging
Blogging can be one of the best software developer passive income streams
- With a minimal effort of one blog post per week, you can offer programming knowledge that aspiring developers will find interesting
- Select a good host
- Use a web hosting platform that integrates well with WordPress
- Monetize your blog
Start a Youtube Channel
Target your audience with the right type of content
- Post a batch of around 10 videos in the first few weeks to give your viewers an idea about what kind of content you will publish
- Over time, your YouTube channel will have a good collection of videos people can watch and come back to
Utilize Chatbots
Chatbots streamline the buyer’s journey while improving sales.
- Here are a couple of ways on how you can generate a software developer passive income stream out of chatbots to generate a CPA passive income, as well as how to get the most out of your chat bots.
Build an Educational Course
Creating and selling courses is easy with platforms like Udemy
- To earn passively, you can charge for online courses in several ways: Charge a one-off fee
- Charge subscription fees
- If you’re creating an ongoing learning program, consider charging on a subscription basis.
Sell effects, functions, animations
Sell through a platform.
- Sell your creations in platforms such as Unity Asset Store, GameDev Market, or the Unreal Engine marketplace.
- You can also consider selling upgrades to your basic frontend code for a yearly subscription.
Sell Web apps
Businesses require web applications that boost their productivity, enhance project management, and streamline money management.
Build your own apps
Develop software people will find useful and consider selling it as a SaaS or by advertising within the platform.
- Negotiate on a percentage of the profit or revenue for the product. With a business partner, your hands can be completely free from having to handle the business aspect of selling your software.
