Remember when you began your career hungry for knowledge? There are millions of aspiring developers just like you, all looking to become even better at their craft. If you have the knowledge to impart, then 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. The more you set yourself up as an expert in your field, the more visitors you’ll have.
Chatbots are starting to become an essential part of running an online business. From collecting user information to greeting visitors and offering quick answers to frequently asked questions, chatbots streamline the buyer’s journey while improving sales.
You’ll find thousands of companies looking for chatbots to simplify their most demanding tasks in Freelance Marketplace. Here’s are a couple of ways on how you can generate a software developer passive income stream out of chatbots.
3. Sell Web apps
Businesses require web applications that boost their productivity, enhance project management, and streamline money management. If you’re looking for a passive income source without having to create new content, you may consider buying and selling web apps.
Do note that a lot of businesses aren’t confident about what software will best help them. You can step in and suggest features and add-ons for these businesses and earn passive income while doing it.
4. Build your Own Apps
This option should come as no surprise! One of the best ways to generate a software developer passive income stream is by actually building your own software. Once you’ve developed your software and settled on a strategy for monetization, you no longer need to put much work into it. This is especially true if the software in question has a single purpose without the need for additional features. Here’s how you can develop an income stream by building your own software.
Make it a personal project Develop software people will find useful and consider selling it as a SaaS or by advertising within the platform. As long as the software you’re building eases a consumer’s pain point, there’s a good chance you can earn money from it!
Negotiate on a contract that gives you a percentage of the profit or revenue for the product. Additions or updates will most likely be needed for the software you’ll create, which you can outsource to a developer or work on at a reduced hourly rate. With a business partner, your hands can be completely free from having to handle the business aspect of selling your software – all you need to do is to wait for your royalty checks.
5. Start a Youtube Channel
Got plenty of knowledge to share? Starting a vlog can be one of the best sources of software developer passive income streams. Software developers can share their expertise on video and create a monetized channel through ads or selling products or merchandise.
While this is an article about generating passive income, I’m going to relegate YouTube vlogging as a pseudo-passive income source, as consistent posting will still be required to keep the money rolling in. In the long run, however, you can get away with posting just one video a week. Here are a few tips to get started.
Choose the right demographic Understanding what your audience will be like is essential to the success of your monetization. Since each kind of content has its own demographics, targeting your audience with the right type of content is essential.
Populate your channel with content After creating your channel, consider posting a batch of around 10 videos in your first few weeks to give your viewers an idea about what kind of content you publish. Later on, you’ll be able to post fewer and fewer videos every week once you’ve built up your channel.
Over time, your YouTube channel will have a good collection of videos people can watch and come back to again and again. Once you’re done setting up your channel, you need to select a way to passively monetize it.
Try affiliate marketing YouTube is the second-largest search engine after Google, making it a good venue to promote affiliate links and product reviews where your viewers can make a purchase.
6. Build an Educational Course
If you’re an expert in your field, you can consider creating online courses to generate a software developer passive income stream. Creating and selling courses is easy with platforms like Udemy that give you all the tools you need to build your curriculum. To earn passively, you can charge for online courses in several ways.
Charge a one-off fee. If you create a course in Udemy, you can charge a one-off fee for your entire course. You’ll then make passive income whenever a student signs up for your course. Instructors in Udemy are paid through Payoneer with income sent directly to their local bank.
Charge subscription fees If you’re creating an ongoing learning program, you may want to consider charging on a subscription basis. Do note, however, that this method requires some work as you’ll have to create several courses to make consistent income.
7. Create an Ebook
Creating and selling eBooks is one of the most popular ways to earn extra money as a software developer. If you have some knowledge to impart, drafting an eBook and sharing it with others can earn you extra money, but to generate truly passive income, you need to follow a few tips.
Consider working with affiliates To generate a software developer passive income stream from eBooks, you need to constantly promote it to keep making sales. To ensure that you get constant exposure, it’s best to utilize platforms to handle your promotion for you. These companies connect you with influencers and affiliates who will promote your products for a cut of the sale.
Tap into your leads If you have your website, then you already know how collecting leads is essential to your business. Consider your new subscribers are fresh opportunities to generate passive income.
8. Sell effects, functions, animations
If you’ve developed special effects, functions, or animations in the past, they can continue to be useful to others even years after you’ve made them available for purchase. Therefore, selling them can be one of the best software developer passive income streams.
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.
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