5 Proven Ways To Make Passive Income as a Developer
Passive income… It’s the dream, isn’t it?
For developers and designers always looking for a way to earn money without having to work as hard, passive income might be the best solution. Passive income is when you make money with little time invested. Some examples of passive income are: selling a product (digital or physical) -writing articles -offering a paid service (like web development) -and anything else that comes to your mind.
I don’t know about you, but I really like to earn a lot. I think most people do. So what’s better than making money? Making money without working for it, or without doing anything. That’s passive income. There are many ways to make passive income, and some of them are easier said than done, but in this article, I go through 5 proven ways to get started on your passive income journey as a developer.
1. Sell Your Skills as a Freelancer
It’s never been easier to make money as a freelancer, but it’s also never been harder.
Freelancing is one of the safest, smartest, and easiest ways to bring in some extra cash. It also happens to be one of the most reliable ways to reach financial freedom. The idea behind freelancing is simple: work for someone else (or a company) and get paid for your time and talents. You are your own boss, so you can set your own hours and have the freedom to take on projects that interest you.
Freelance websites like Fiverr, Upwork or Freelancer are easy places to start when looking for work as a freelancer. However, finding freelance work this way is difficult and full of competition. There is a much better way to find well-paying freelance jobs without having to waste hours on end trying to convince clients to hire you.
2. Create Web and Mobile Apps
Designing and developing mobile and web applications can be more than just a career. By building a business based on software development, you can actually earn money while you sleep.
The best part is that all of the income potential comes from selling your own products online or by getting clients to sign up for your premium versions — not from getting clicks or traffic. This means you don’t have to worry about Google or anyone else changing their algorithms and screwing up your rankings or traffic. You are in complete control of your destiny and earnings.
There are many different ways to build a successful software company, but in order to do so, you need to determine which type of app business model will work best for you. There are three main types of app business models. These are apps as products, apps as services and apps as ads.
3. Create Your Own Blog
If you want to learn how to make passive income, then the best way to go about it is to create your own blog. We all know that blogging is a great way to make money online, but when it comes down to it, there are only two ways of making money with a blog.
The first way is by making money through affiliate marketing. This means that you promote products on your blog and earn commissions for each product sold.
The second way to make money with a blog is by selling ad space on your site. You can also sell your own products or services as well as other people’s products or services through affiliate links on your blog.
All three of these methods are good ways to make passive income from home, but the most popular way is through affiliate marketing. If you don’t have the time or expertise to develop a website and write about subjects that interest you, then you may want to consider using someone else’s site as an affiliate instead of creating your own blog.
The only downside is that you need to be dedicated enough to keep blogging if you want it to be your source of passive income. Blogging can take a lot of time at first but once you get going, it becomes easier over time.
4. Write E-Books
Tons of developers have taken the time to write e-books that they can sell on sites such as Amazon. Many of these books will be guiding/tutorials on how to use certain APIs and other development tools. Other developers will choose to write technical manuals or in-depth explanations on how certain technology works.
Pricing is pretty straightforward for this. You can choose whatever price you want, but my suggestion would be to sell the book for no more than $10-$15. Obviously, if the book is incredibly detailed and in-depth, you can charge more. But you don’t want to charge too much or else people won’t purchase your book.
The most important part of marketing your e-book is making sure that it has an eye-catching cover image and a description that makes people interested in reading it. Then you’ll want to promote it as much as possible using Twitter, Facebook, Reddit or whatever social media you prefer.
One of the best ways to promote your e-books is through a mailing list or an email campaign via MailChimp or Aweber. By sending out emails every once in a while
5. Teach Online
The Internet offers a wide range of opportunities for developers looking to make some extra money. Teaching online is one way that developers can earn a bit of cash on the side while sharing their knowledge with others.
The e-learning industry is booming and online education is becoming more popular every day. There are several websites that will pay you to teach online, and the best part is that it’s completely passive income! This means you can work from home or anywhere in the world as long as you have an internet connection and are willing to spend a few hours each week teaching.
One option to teach online is Udemy. They offer a wide range of topics for you to choose from, which includes web development, as well as other topics like fitness and foreign languages. If you’re interested in developing mobile applications, check out Coursera. Coursera offers courses on iOS programming, Android development, and other mobile-related courses. These courses last anywhere from three weeks to eight weeks, depending on the course’s length and difficulty level.
In the end, being a developer is all about creating value. Do your best to create interesting, original projects that serve a need or solve a problem. You will reap the benefits of doing something you love and creating something with lasting value.
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