As technology continues to improve, developers continue to be the most in-demand professionals across a multitude of organizations and industries. Developers deal with interpreting, developing, and implementing new programming languages, processes, frameworks, and technologies. According to recent human resources data gathered by Indeed, Glassdoor and other job boards, full-stack, mobile, front, and back-end developers are all very difficult to find. This leaves a large opportunity for current tech talent to become a thought leader in their space and set the stage for future developers. Developers can choose very specific roles to play throughout the tech industry channeling their focus to Unity, VR, AR, Java, Alexa, etc. They may pursue even more focused specializations within an organization gaining experience that is not available outside very specific institutions. With the high-demand and potentially long hours, it is important for many developers to have additional income that can be created for passive income with little work after the initial setup.
Passive Income through Blogging
A blog can serve as an information hub for anything related to a developer’s job field. This gives professional developers a chance to explore concepts outside of their daily job and strengthen their current skills. The blog’s focus can be centered around educating a population through how-to-guides or a skills-guide to becoming a developer. Developers may also choose to provide additional information to seasoned programmers and developers that already have an advanced understanding of basic programming language. Getting started is easy — simply choose a hosting platform (Drupal, Joomla, WordPress) or create a website from scratch. Market the blog to social media networks that are best for your audience — I would recommend starting with a LinkedIn, Twitter, or Facebook to communicate to current and new followers. Before promoting your website on social media, make sure that you have monetized your website with a Google Ads account or integrate an Amazon Associates account. This gives the developer an opportunity to promote different products and generate a passive income through other’s product purchases and ad views.
Release a New SaaS Product
Talented developers can receive commissions from previously developed products. SaaS products are growing each day and increased use is attributed to the increase in virtual work. The rise of the independent contractor leaves millions of individuals looking for different software to fit project management, productivity, sales, human resources, and other needs that are not managed within an organization. Often, many of these individuals purchase subscription-based products to fit their needs. If a great SaaS product is developed, a developer can continue to receive monthly income received from customers while adjusting the SaaS product with new routine updates as applicable.
Create a New Android or iOS Application
Application development has become easy, even for the non-experienced programmer due to the tools and resources available in pre-packaged programs. It all depends on how much the developer wants to stand out. Do they want to create something that is new to an industry, or piggy-back off current technologies or tools? When getting started with a new application, it is important to consider the budget for development, the required talent, or if it can be completed with just one person. Development can take over six months for application development before the testing and iteration period. Once implementation takes place, income becomes relatively passive from the application after it goes live, other than the required routine updates.
Create a Chatbot
More customer support departments, social media platforms, and live gaming sites are turning to chatbots to streamline operations. Even in the restaurant industry, owners are using chatbots to improve ordering experiences among customers. If a developer lays out a plan for the type of chatbot and the platform for launching a chatbot, they can receive income from leasing the technology to other companies for their customer support departments. This is often seen in a subscription-based model that supports the cost of maintenance, updates, and additional profit.
Sell Digital Marketing Products for the Development Community
Finally, one of the most common ways to generate a passive income is by selling the knowledge you already have. Developers have already obtained a significant amount of knowledge in their field, why not share that with other prospective developers and hobbyist? The easiest way is to utilize platforms like Udemy, Thinkific, and Teachable to guide you in developing a course with traffic already built into the website.
There are many ways for developers to obtain additional income outside of traditional industry channels. It is important to consider additional streams of income to expand industry experience and contribute to personal income gains.