How to Make 6 Figures As A Iot Engineer? (11 Best Ways in 2024)
So you want to make six figures as a iot engineer? Good for you! Being a iot 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 iot engineer - business ideas you can start to achieve such income. Keep reading to learn more!
1. Become a social media influencer ($57.4K/month)
As an IoT engineer, leveraging your expertise to become a social media influencer could open lucrative avenues to supplement your income and potentially make six figures. By sharing your knowledge and insights on platforms like YouTube, Instagram, and TikTok, you could build a substantial following, establishing credibility within the IoT community. This could attract brands looking to collaborate with someone who has a strong grasp of IoT technologies and trends, thereby monetizing your social media presence through sponsorships, paid promotions, and advertisements.
Additionally, creating valuable content such as tutorials, product reviews, and industry analyses could position you as a thought leader. By doing so, you might even be able to launch online courses or consulting services, further diversifying your income streams. With the right strategy and consistent effort, becoming a social media influencer could significantly boost your career and financial prospects as an IoT engineer.
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.
2. Become an affiliate marketer ($55.3K/month)
Starting an affiliate marketing business could provide you with an excellent way to supplement your income as an IoT engineer. Given your technical expertise, you could promote IoT products and services through content that resonates with your target audience, driving traffic and sales through your unique tracking links.
This business model requires minimal upfront investment since you won’t need to create or own the products yourself. By leveraging your industry knowledge and marketing skills, you could turn this side endeavor into a significant income stream, potentially helping you reach that six-figure mark.
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.
3. Start an ecommerce store ($287K/month)
Starting an eCommerce store could offer you an exciting way to supplement your income and potentially make six figures as an IoT engineer. With the lower overheads and the increased flexibility of an online business, you could leverage your technical skills to sell niche IoT devices or related services, tapping into a growing market from the comfort of your home.
Given the booming state of eCommerce due to its convenience and efficiency for consumers, setting up an online store allows you to reach a wider audience without the geographical constraints of a brick-and-mortar store. By developing a comprehensive website, employing effective payment processing, and using inventory tracking software, you could efficiently manage your business operations and create a scalable source of additional income.
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.
4. Start a social media marketing agency ($116K/month)
Starting a social media marketing agency could help you make six figures as an IoT engineer by providing a flexible and lucrative supplemental income stream. With your technical skills and understanding of complex systems, you could easily automate many routine tasks using social media marketing tools, allowing you to serve multiple clients efficiently without a significant time investment.
Additionally, developing a good social media marketing strategy and creating a strong agency portfolio could attract a steady stream of clients. This entrepreneurial endeavor could not only offset your utility bills or finance personal goals like a vacation or education, but also serve as a scalable business that complements your main career in IoT engineering.
How much you can make: $1,000 — $500,000/month
How much does it cost to start: $7,500 (?)
How long does it take to build: 60 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.
5. Start a career coaching business ($48.5K/month)
Starting a career coaching business could help you make six figures as an IoT engineer by allowing you to leverage your expertise and industry insights to guide others through their professional journeys. By offering personalized guidance on resume building, interview prep, and workplace advancement, you can monetize your knowledge and experience in the IoT field.
You could set your schedule and offer services either in-person or virtually, increasing your reach and flexibility. Given the demand for specialized advice and the accountability you can provide, helping others succeed while supplementing your income through a career coaching business could be a lucrative and fulfilling side venture or even a full-time endeavor.
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.
6. Start a freelance writing business ($65.5K/month)
Becoming a freelance writer could offer IoT engineers a flexible and lucrative pathway to supplement their income and potentially reach a six-figure salary. With strong writing skills and a deep understanding of the IoT industry, you could create highly sought-after content, such as technical articles, whitepapers, and blog posts for companies and publications. This expertise not only allows you to set premium rates but also to carve out a niche market where your specialized knowledge is invaluable.
As a freelance writer, you have the flexibility to define your work schedule, which means you can manage writing projects alongside your primary job. The ability to work from home and on your own time makes it easier to balance both roles. Essential qualities like meeting deadlines, staying updated with writing trends, and being a self-starter are already aligned with the skill set of a typical IoT engineer, making freelance writing a viable and rewarding side business.
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.
7. Start a youtube channel ($146K/month)
Starting a YouTube channel could be a game-changer for an entrepreneurial IoT engineer looking to make six figures. By sharing your expertise on IoT projects, offering tutorials, and reviewing the latest tech, you could attract a dedicated following and leverage YouTube’s established monetization system. With popular content, you could join the YouTube Partner Program, earning ad revenue once you reach 1,000 subscribers and 4,000 watch hours in the last 12 months.
Additionally, a successful channel could open doors to sponsored content, affiliate marketing, and even paid collaborations with tech companies. These opportunities not only supplement your income but also establish your authority in the IoT space, furthering both your personal and professional brand. By capitalizing on YouTube’s vast audience, the potential to generate significant revenue while enjoying content creation is within reach.
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.
8. Start a podcast ($97.9K/month)
Supplementing Your Income with a Podcast
Starting a podcast could provide you with a unique opportunity to supplement your income as an IoT engineer. By creating and producing audio content focused on IoT topics, such as new technologies, industry trends, or specific problem-solving techniques, you could attract a dedicated audience of listeners who are interested in these subjects. This could lead to monetization through sponsorships, advertisements, or even premium content subscriptions.
Furthermore, a successful podcast could enhance your personal brand, positioning you as a thought leader within the IoT community. This increased visibility might open doors for consulting opportunities, paid speaking engagements, or freelance projects. As your audience grows, so too could your revenue streams, enabling you to significantly boost your overall income and possibly reach six figures.
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.
9. Start a blog ($44.9K/month)
Starting a blog could be a highly lucrative side business or even a full-time career for an IoT engineer. By sharing your expertise, you could reach a broader audience and become a trusted source of information in a rapidly growing industry. With 409 million viewers consuming over 20 billion pages monthly, your blog has the potential to attract substantial traffic.
This location-independent venture not only offers a creative outlet but also allows you to monetize your skillset. You could offer online courses, write sponsored content, or even sell specialized IoT products. Engaging content and a robust mailing list could turn your blog into a significant revenue stream, helping you make six figures as an IoT 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.
10. Digital products ($261K/month)
As an IoT engineer, venturing into digital products could significantly boost your income and pave the way toward reaching six figures. By leveraging your expertise, you could develop software-based products such as bespoke IoT applications or hardware simulation tools that other professionals and hobbyists would find invaluable. Alternatively, you could create informational products like eBooks or online courses that teach others about IoT technology, its applications, or advanced scripting techniques.
The appeal of digital products lies in their simplicity and scalability. They're straightforward to create, especially given your tech skills, and can be sold without the logistical complications associated with physical goods. Plus, with the popularity and versatility of digital products, from software to membership sites, you have a plethora of avenues to explore that can diversify your income streams and help you achieve your financial goals.
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.
11. Create an online course ($91.9K/month)
As an IoT engineer, you could leverage your specialized skills and knowledge by creating an online course to supplement your income. By identifying educational gaps in the market and developing engaging video lessons with supplementary materials, you could cater to a growing community of lifelong learners eager to master IoT technologies.
Launching an online course platform presents a unique opportunity to generate passive income with relatively small startup costs. Whether you prefer a self-paced or cohort-based structure, building a dedicated student base could help you approach, or even surpass, the six-figure mark in your career. This entrepreneurial venture not only monetizes your instructional talents but also allows you to contribute to the professional growth and success of others in the IoT field.
How much you can make: $350 — $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.
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.
