How to Make 6 Figures As A Hardware Engineer? (11 Best Ways in 2024)
So you want to make six figures as a hardware engineer? Good for you! Being a hardware engineer is a highly respectable and well-paid profession, and there's no reason why you can't earn a high income if you put your mind to it.
In this blog post, we'll look at some of the best ways to make more money as a hardware engineer - business ideas you can start to achieve such income. Keep reading to learn more!
1. Start an ecommerce store ($287K/month)
Starting an eCommerce store could help you make six figures as a hardware engineer by leveraging your technical expertise to offer specialized products or kits related to your field. The low overhead costs and broad reach of an online business enable you to tap into a global market, potentially leading to significant additional income alongside your primary career.
Moreover, the booming eCommerce market offers an efficient and convenient platform for consumers, allowing you to easily reach customers without the traditional limitations of brick-and-mortar stores. By dedicating some time to setting up a professional website, managing inventory, and processing payments, you could create a profitable side business that complements your engineering career and increases your overall earnings.
How much you can make: $350 — $13,500,000/month
How long does it take to build: 120 days (?)
Time commitment per week: Min. 5 hours/week
Southern Elegance Candle Company, founded by D'Shawn Russell, started as a side hustle making around $200 per weekend at a local Farmers Market, but now averages approximately $20,000 per month in sales across their retail site, wholesale site, and Faire.
2. Start a social media marketing agency ($386K/month)
One powerful way you could make six figures as a hardware engineer involves starting a social media marketing agency as a side business. This venture allows you to supplement your income by leveraging automated social media marketing tools, which means you wouldn't need to commit a significant amount of your already limited free time.
Developing a solid social media marketing strategy and creating an effective agency portfolio could enable you to serve customers efficiently and market your services to a broader audience. With a well-executed plan, this entrepreneurial endeavor could help you clear utility bills, finance further education, or even save for a dream vacation, ultimately boosting your income potential while working within the constraints of your primary career.
How much you can make: $1,000 — $4,166,667/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 75 days (?)
Time commitment per week: Min. 30 hours/week
How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.
3. Start a blog ($44.9K/month)
Starting a blog could be a lucrative way to supplement your income or even establish a side business as a hardware engineer. By sharing your expertise, industry insights, and practical solutions on a blog, you could attract a broad audience interested in your niche, tapping into the 77% of internet users who read blogs. This could build your reputation as a thought leader, creating opportunities for sponsored content, affiliate marketing, or consulting services.
Given that blogs are rated as the 5th most trustworthy source of online information, your audience is more likely to value your insights and recommendations. With a well-defined content strategy and consistent posting, you could easily drive significant traffic to your blog, reaching a potential audience of 409 million viewers per month. Over time, these efforts could generate substantial revenue streams, helping you make six figures as a hardware engineer.
How much you can make: $100 — $650,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 30 days (?)
Time commitment per week: Min. 5 hours/week
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
4. Start a freelance writing business ($62.6K/month)
As a hardware engineer, you could significantly supplement your income by starting a freelance writing business. With flexible work schedules and the ability to work from home, freelance writing offers an excellent opportunity to utilize your technical expertise in a new way. By writing insightful articles, guides, and documentation about hardware engineering, you could cater to a niche market eager for high-quality, specialized content.
Freelance writing not only allows you to maintain your current job but also opens up the possibility of scaling it into a substantial side business or even a full-time endeavor. Possessing strong writing skills, the ability to meet deadlines, and staying up-to-date with current writing trends could position you to attract premium clients willing to pay handsomely for your expertise. Through proper communication and being a self-starter, you could find yourself on the path to making six figures by combining freelance writing with your hardware engineering knowledge.
How much you can make: $700 — $500,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 56 days (?)
How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.
5. Start a podcast ($97.9K/month)
Starting a podcast could be a lucrative opportunity for a hardware engineer aiming to make six figures. By choosing a niche related to hardware engineering, such as product reviews, industry trends, or discussions on new technologies, you could attract a dedicated audience of enthusiasts and professionals.
With minimal initial investment in basic recording equipment and a hosting platform, you could begin creating quality content and sharing valuable insights. As your audience grows, you could monetize the podcast through sponsorships, advertisements, or even exclusive content, adding a significant supplementary income stream that supplements your primary career.
How much you can make: $400 — $1,020,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 2 hours/week
A successful podcast production company that grew from one client making $15/hour to a team of 10 contractors producing over 30 shows per week with revenue of over $10k/mo, primarily through referrals and with a focus on providing high personal touch and being picky about working only with clients who are a good fit.
6. Become an affiliate marketer ($55.3K/month)
Starting an affiliate marketing business could provide a valuable supplemental income stream, helping you move toward the six-figure mark as a hardware engineer. Given your technical expertise, you could effectively promote tech-related products or services that resonate with your audience.
Since affiliate marketing requires minimal upfront investment and doesn't necessitate creating or owning products, it’s a low-risk way to diversify your income. By leveraging your marketing skills to drive traffic and sales, you could earn commissions on every successful referral, allowing your earnings to grow steadily over time with smart strategies and consistent effort.
How much you can make: $18,000 — $83,000/month
How much does it cost to start: $100 (?)
How long does it take to build: 150 days (?)
This case study explores how Spencer Mecham founded Buildapreneur, an affiliate marketing business, and has made over half a million dollars in profit with no employees, relying solely on content marketing through platforms like Facebook, YouTube, and TikTok.
7. Start a career coaching business ($48.5K/month)
Starting a career coaching business could significantly supplement your income as a hardware engineer and help you reach that six-figure milestone. By leveraging your technical expertise and industry experience, you could offer personalized guidance, resume building, interview preparation, and strategic career advice to aspiring engineers and professionals.
With the flexibility to conduct sessions in-person or virtually, you could build a broad client base, empowering each individual through specialized advice and accountability. This entrepreneurial venture allows you to monetize your motivational abilities and HR knowledge, setting your own schedule and gaining financial independence while aiding others in achieving their professional goals.
How much you can make: $1,000 — $235,000/month
How much does it cost to start: $1,500 (?)
How long does it take to build: 60 days (?)
Wall Street Oasis, the largest online community focused on careers in finance, has over 100 million visitors during its 14-year history and is currently receiving over 2 million visits per month, offering interview courses and mentorship services, in addition to building and investing in a thriving online community.
8. Digital products ($242K/month)
As a hardware engineer, you could leverage your technical knowledge to create and sell digital products, such as eBooks, online courses, or even specialized software tools. These products can tap into your expertise and cater to a niche market of professionals or hobbyists interested in hardware engineering. The beauty of digital products lies in their low overhead and scalability—there's no need to worry about inventory or shipping.
Additionally, this side venture could provide a passive income stream, allowing you to earn money even while focusing on your primary job. By packaging your insights and skills into digital formats, you could build a sustainable business that eventually contributes significantly to reaching that six-figure mark. Given the endless possibilities, from membership sites to downloadable resources, you have the flexibility to experiment with various formats to find what resonates best with your audience.
How much you can make: $10,417 — $1,766,666/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 60 days (?)
FilterGrade is an eCommerce platform offering digital assets such as photo filters and video templates; attracting over 450,000 monthly users and generating approximately 30k a month, the founders worked hard to build a valuable marketplace for creators while focusing on digital marketing, partnerships, and content creation.
9. Start a youtube channel ($146K/month)
Starting a YouTube channel could be a lucrative way for hardware engineers to supplement their income and potentially make six figures. By sharing your expertise through tutorials, reviews, and project showcases, you could attract a substantial following of tech enthusiasts and aspiring engineers. Offering unique content that leverages your professional background can differentiate your channel in the competitive tech space.
YouTube's established monetization system allows you to earn from ad revenue once you join the YouTube Partner Program, which requires at least 1,000 subscribers and 4,000 watch hours over the past year. Beyond ad income, you could explore partnerships, sponsorships, and even affiliate marketing opportunities to further boost your earnings. With dedication and strategic content creation, your YouTube channel could become a significant income stream and enhance your professional brand.
How much you can make: $800 — $1,000,000/month
How much does it cost to start: $750 (?)
How long does it take to build: 90 days (?)
Time commitment per week: Min. 5 hours/week
Learn how this entrepreneurial couple made $5-7k a month by helping others find legitimate work from home jobs and creative ways to make money online through their blog and YouTube channel, as well as offering two flagship products designed to help beginner freelancers and new bloggers accelerate growth.
10. Create an online course ($82.8K/month)
Creating an online course could significantly help you make six figures as a hardware engineer by monetizing your specialized knowledge and skills. By identifying educational gaps and developing engaging video lessons and supplementary materials, you could attract a wide range of students eager to learn about advanced hardware engineering topics.
This entrepreneurial endeavor not only provides a lucrative source of passive income but also allows you to share your expertise with a global audience. With the flexibility to offer self-paced or cohort-based structures, you could build a substantial student base with relatively low startup costs. This approach taps into the growing demand for convenient, high-quality online education, making it an ideal side business or even a full-time venture.
How much you can make: $275 — $1,000,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 88 days (?)
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
11. Become a social media influencer ($57.4K/month)
Supplementing your income as a hardware engineer by becoming a social media influencer could open up unique opportunities for financial growth. By leveraging platforms such as Instagram, YouTube, Facebook, and TikTok, you could establish credibility in the hardware engineering field and attract a vast audience interested in your expert advice and insights. This could not only increase your visibility but also provide lucrative collaboration opportunities with brands looking to target your specialized audience.
Creating content that showcases your expertise, such as tutorials, product reviews, and industry trends, could position you as an authoritative voice in the hardware engineering community. This could lead to brand partnerships, sponsorships, and affiliate marketing opportunities, which could significantly boost your earnings. With the right strategy and consistency, your influence could grow, translating into a sustainable side business or even a full-fledged career, helping you reach the six-figure mark.
How much you can make: $2,500 — $166,666/month
How much does it cost to start: $800 (?)
How long does it take to build: 155 days (?)
How one mother built a profitable frugal motherhood, life, and travel blog from scratch, using Instagram, Pinterest, and paid sponsorships to grow from 0 to 18.5K followers and generate $1,500-$3,000 per month in less than two years.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
