How to Make 6 Figures As A It Risk Manager? (11 Best Ways in 2024)
So you want to make six figures as a IT risk manager? Good for you! Being a IT risk manager 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 IT risk manager - business ideas you can start to achieve such income. Keep reading to learn more!
1. Digital products ($242K/month)
As an IT risk manager, you could supplement your income and even make six figures by creating and selling digital products. Due to the digital nature of your field, you have the expertise to develop software-based products like apps or security tools that can attract a broad user base. Alternatively, you could produce information-based products such as ebooks, courses, or membership sites focusing on risk management best practices or cybersecurity frameworks, leveraging your knowledge to educate and inform others in the industry.
The beauty of digital products lies in their simplicity and scalability. With no need to manage physical inventory, you could easily launch these products from your website and continually generate passive income. By tapping into this opportunity, you could significantly boost your earnings while sharing your expertise with a wider 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.
2. Become an affiliate marketer ($55.3K/month)
As an IT risk manager with an entrepreneurial mindset, you could explore the potential of becoming an affiliate marketer to supplement your income and work towards making six figures. By promoting other companies' products or services and earning a commission for each sale made through your referral, you could leverage your analytical skills and industry knowledge to effectively target and reach your audience.
Starting an affiliate marketing business is low-cost due to the minimal upfront investment required. You'll simply need to sign up for affiliate programs, obtain unique tracking links, and utilize your marketing expertise to drive traffic and sales. This side venture could complement your IT risk management career, offering financial growth opportunities without the need to create or own any products.
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 be a lucrative side business for an entrepreneurial-minded IT risk manager looking to make six figures. By leveraging your technical skills, you could set up an efficient and secure eCommerce website, broadening your income streams and utilizing your expertise in managing risks and securing online transactions.
With lower overhead costs and the ability to reach a global audience, an eCommerce business offers a flexible and scalable opportunity. As online shopping continues to boom, you could capitalize on the increasing consumer preference for convenient and efficient purchasing experiences. This could potentially supplement your income significantly, allowing you to achieve or exceed a six-figure annual 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 ($386K/month)
Starting a social media marketing agency could be a strategic way to supplement your income as an IT risk manager. Leveraging your analytical skills and understanding of digital landscapes, you could create effective marketing strategies for businesses, helping them boost their online presence and engagement. By utilizing social media marketing tools, you could automate many routine tasks, allowing you to efficiently manage your agency without compromising your primary career responsibilities.
Additionally, building a robust agency portfolio could attract potential clients, further increasing your earning potential. This entrepreneurial venture not only offers financial benefits—like clearing your utility bills or saving for a vacation—but also enhances your business acumen and diversifies your skill set. With minimal initial time investment, a social media marketing agency could be a lucrative side business, propelling you toward a six-figure income.
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.
5. Start a blog ($44.9K/month)
Starting a blog could be an excellent way for an IT risk manager to supplement their income or even transition into a full-time entrepreneurship role. Given the industry's demand for trustworthy information, your insights and experiences in IT risk management could attract a substantial audience, allowing you to monetize through advertising, sponsored posts, or premium content.
With blogs being among the top five most trusted sources of online information, you could leverage your professional expertise to build credibility and a loyal readership. By consistently posting relevant and insightful content, you might tap into the pool of 77% of internet users who regularly read blogs, thus positioning yourself at the forefront of a highly lucrative and location-independent business.
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.
6. Create an online course ($82.8K/month)
Starting an online course could be a lucrative way to supplement your income as an IT risk manager. Given your specialized knowledge in IT risk management, you could identify educational gaps in this niche and create engaging video lessons and supplementary materials to help others in the industry.
By offering self-paced or cohort-based courses, you could build a strong student base and create passive income with minimal overhead costs. This side business not only leverages your expertise but also allows you to share valuable information with eager learners, potentially paving your path to a six-figure income.
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.
7. Become a social media influencer ($57.4K/month)
Supplementing your income by becoming a social media influencer is a viable option for IT risk managers aiming to make six figures. By leveraging your specialized knowledge and expertise in IT risk management, you could establish yourself as a credible figure in this niche, attracting brands eager to connect with your targeted audience. Engaging regularly on platforms like LinkedIn, YouTube, or Twitter allows you to share insights, tutorials, and risk management strategies, potentially garnering a substantial following.
Brands interested in the tech and cybersecurity space often collaborate with influencers to promote their products or services, thereby providing you opportunities for sponsored content, paid promotions, and partnership deals. With the right strategy—selecting a niche, producing high-quality content, and interacting with followers—you could significantly enhance your income, establishing a profitable side business as a social media influencer. Establishing yourself in this growing field is not only lucrative but aligns well with your entrepreneurial mindset, fulfilling both financial and professional aspirations.
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.
8. Start a podcast ($97.9K/month)
Starting a podcast as an IT risk manager could significantly supplement your income and potentially lead you to making six figures. By creating audio content tailored to risk management, cybersecurity strategies, and industry insights, you could attract a dedicated audience eager to learn from your expertise.
After establishing a niche and gathering a loyal listener base, you could monetize your podcast through sponsorships, affiliate marketing, and premium content subscriptions. Additionally, this platform could enhance your professional brand, leading to consulting opportunities, speaking engagements, and collaborations that further boost your earnings. By leveraging your specialized knowledge in a growing, popular medium, the podcast could become a lucrative side business or even a full-time 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.
9. Start a freelance writing business ($62.6K/month)
If you are an IT risk manager looking to boost your income, starting a freelance writing business could be a viable side hustle. With the flexibility to set your own work schedule and work from any location, you could manage freelance writing tasks around your existing job commitments. This could include writing about IT risk management, cybersecurity, and other technical topics, leveraging your industry expertise to command higher rates.
As a freelance writer, your strong writing skills and ability to meet deadlines would be crucial. Staying up-to-date with current writing tools and trends would also give you a competitive edge, allowing you to produce high-quality content for a variety of clients. By tapping into your entrepreneurial mindset and self-starter attitude, you could build a sustainable writing business that significantly supplements your income and helps you reach the six-figure mark.
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.
10. Start a youtube channel ($146K/month)
Starting a YouTube channel could be an excellent way to supplement your income and make extra money as an IT risk manager. By sharing your expertise and insights on IT risk management, cybersecurity, or industry trends, you could attract a dedicated audience interested in your niche. With YouTube's established monetization system, reaching at least 1,000 subscribers and 4,000 watch hours within 12 months could qualify you to join the YouTube Partner Program, allowing you to earn ad revenue.
Beyond ad revenue, you could explore sponsorship opportunities, affiliate marketing, and even offer paid online courses or consultations. Success stories abound on YouTube, proving that with consistent, high-quality content and targeted promotion strategies, you could turn your channel into a lucrative side business, possibly even generating six figures in income. This entrepreneurial approach not only diversifies your income streams but also allows you to build a personal brand and influence within the IT community.
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.
11. Start a career coaching business ($48.5K/month)
Starting a career coaching business could significantly supplement your income as an IT Risk Manager, helping you to reach that six-figure milestone. As a career coach, you would provide personalized guidance and support to clients navigating professional transitions and growth opportunities. Your expertise in IT and risk management could be invaluable, offering specialized advice that helps others advance in their own careers.
You could design custom sessions focused on resume building, interview preparation, and workplace advancement, tailored to each client’s unique aspirations. Flexibility for in-person or virtual meetings enables you to build a diverse client base and monetize your motivational and human resources expertise. This entrepreneurial venture allows you to set your own schedule, ensuring a lucrative and rewarding side business or even a full-time career transition.
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.
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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.
