Types of passive income streams for a programmer/software developer
Usually, the software programmers earn lot of money selling their IT skills and experiences. But, the income involves their efforts and they have to work hard to make the money. However, they can also adopt some autopilot methods to make money. Here, you will discover few innovative ideas that a skilled programmer can work with and establish a passive revenue source quickly:
#1 Training/teaching newbie programmers
Nowadays, everyone is interested in learning programming and web development. As a programmer, you can start educating the interested pupils online. Udemy, a known training platform has made 1.6 million for the contributors who started training here. You can create your own website and start teaching them or you can join such online training websites and share your materials to make passive income. Such stuffs sell like hotcake. Once you have prepared the resource, you don't have to worry about sourcing the income anymore.
#2 Working as special supervisor consultant
A lot of leading IT companies and business organizations search for skilled programmer to hire as offshore consultant. Being an offshore consultant, you don't have to attend office like an employee, but you have to provide support when necessary. Such freelance programmers make handsome amount each month for not doing anything most times. If you have high-end programming skills and know how to sell your skills and experiences, you can get such offers from world's leading companies and setup your own passive revenue generator.
#3 Developing and selling software
If you have innovative ideas and know about the popular market-demands, you can act like an entrepreneur and start working on setting up a very powerful, long term passive income generator. You have to prepare the blueprint of a software that every marketer and webmaster is looking for. If you have some money to invest, you can work on it and develop the software yourself. Or you can search for an investor to fuel the project. Once the product is developed, you can sell the license or you can also sell the software as a service (SAAS).
#4 Joint venture with marketers and webmasters
If you don't have vast marketing experience, or innovative ideas, you can definitely thing about the joint venture concept. Thousands of internet marketers and webmasters are looking for talented, skilled programmers to work with. You don't have to work like an employee, you can setup your own time and schedule. Moreover, you will be making decent revenue income if the JV becomes a success!
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