How to Make 6 Figures As A Product Manager? (11 Best Ways in 2024)
So you want to make six figures as a product manager? Good for you! Being a product 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 product manager - business ideas you can start to achieve such income. Keep reading to learn more!
1. Start a career coaching business ($48.5K/month)
Starting a career coaching business could be a lucrative way to supplement your income as a product manager and help you achieve six figures. By leveraging your existing knowledge in resume building, interview prep, and workplace advancement goals, you could provide personalized guidance and strategy services to help others navigate their professional transitions.
With the flexibility to offer both in-person and virtual sessions, you could build a diverse client base, empowering breakthroughs through specialized advice and accountability. This venture could be particularly beneficial if you have talents in public speaking and expertise in human resources, allowing you to monetize your motivational abilities while setting your own schedule.
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.
2. Start a youtube channel ($146K/month)
Starting a YouTube channel could be a lucrative way for a product manager to supplement their income and potentially make six figures. By sharing industry insights, product management tips, and your personal career experiences, you could quickly build a dedicated following. This approach leverages your existing expertise and expands your influence, providing added value to your audience.
With YouTube's established monetization system, once you reach a minimum of 1,000 subscribers and 4,000 watch hours, you could begin to generate revenue. Additionally, sponsored content, affiliate marketing, and selling your own products like eBooks or courses could further boost your earnings. For those who love content creation, YouTube can be an excellent platform to capitalize on, turning your passion into a profitable side business.
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.
3. Become a social media influencer ($57.4K/month)
Becoming a social media influencer could significantly supplement your income as a product manager, helping you reach that six-figure mark. By leveraging your expertise in product management, you could share industry insights, best practices, and innovative trends on platforms like Instagram, YouTube, Facebook, and TikTok. Establishing yourself as a thought leader in your niche could attract brand partnerships, sponsorships, and advertising opportunities, providing a lucrative supplemental income stream.
Additionally, the growing trend of brands engaging with influencers means there's a high demand for authentic voices within specialized fields. As a product manager, your unique perspective and experiences could appeal to companies looking to connect with tech-savvy, business-oriented audiences. By creating valuable content and building your credibility, you could not only enhance your income but also expand your professional network and influence in your industry.
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.
4. Start an ecommerce store ($287K/month)
Starting an eCommerce store could be an excellent way to supplement your income as a product manager and potentially make six figures. Given your expertise in product management, you have a distinct advantage in understanding market needs, optimizing user experience, and streamlining processes, which are critical to running a successful online business. The flexibility and lower overhead costs of an online store allow you to manage this venture alongside your primary job, making it feasible to explore entrepreneurial opportunities without a significant initial investment.
eCommerce is booming due to its convenience and efficiency, offering consumers the ability to purchase products from the comfort of their homes. By leveraging your skills to identify trending markets and curate products that meet current consumer demands, you could build a strong and profitable online presence. The wider reach and scalability of eCommerce could allow you to grow your side business substantially, setting the stage for an additional, lucrative income stream.
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.
5. Start a podcast ($97.9K/month)
Starting a podcast could be a lucrative way to supplement your income as a product manager and potentially elevate your earnings to six figures. You could leverage your expertise and insights in product management to create a popular podcast that addresses industry trends, challenges, and best practices. This could attract a niche audience of fellow product managers or those aspiring to enter the field.
By consistently delivering valuable content, you could build a loyal listener base. This growing audience could open up opportunities for monetization through sponsorships, advertising, and even premium content. With minimal startup costs—only requiring basic recording equipment and a hosting platform—you could turn podcasting into a profitable side business or even a primary venture over time.
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. Start a social media marketing agency ($386K/month)
Starting a social media marketing agency could be an excellent way for you to supplement your income and potentially reach the six-figure mark as a product manager. Leveraging your strategic thinking skills, you could develop effective social media marketing strategies to attract and retain clients, all while maintaining your full-time role. With the help of automation tools, you wouldn't have to commit extensive hours, making it easier to manage both roles simultaneously.
Creating a portfolio to showcase your agency's services could help you draw in target customers, eventually building a steady stream of clients. This entrepreneurial venture could finance your significant expenses like utility bills, college education, or even savings for an extravagant vacation, ultimately boosting your financial independence and career growth.
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.
7. Create an online course ($82.8K/month)
Creating an online course could empower you to leverage your expertise and fill educational gaps by teaching specialized skills or knowledge pertinent to product management. As an entrepreneurial course creator, you could craft engaging video lessons and supplementary materials covering essential topics, from agile methodologies to strategic product roadmapping.
By offering these courses in flexible formats, such as self-paced or cohort-based structures, you could attract a wide range of students seeking to advance their careers, thereby generating passive income. This approach not only allows you to monetize your instructional talents with minimal startup costs but also helps build a dedicated student base eager for your insights, potentially pushing your earnings into six figures.
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.
8. Digital products ($242K/month)
Starting a digital product business could significantly boost your income as a product manager. Digital products are incredibly popular due to their ease of creation and distribution, and you could leverage your expertise to develop a software application, ebook, or online course. Given your background, you're well-equipped to identify market needs, plan product features, and execute a go-to-market strategy.
Another option is to establish a membership site or online community tailored to your industry. This approach not only allows you to generate recurring revenue but also positions you as a thought leader. With no inventory to manage and minimal overhead costs, the scalability of digital products means your side venture could easily scale to a six-figure income.
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 blog ($44.9K/month)
Starting a blog could significantly supplement your income and potentially help you reach six figures as a product manager. Blogging offers a creative outlet to showcase your expertise, share insights, and engage with a broader audience. Given that 77% of internet users read blogs and they are considered the 5th most trustworthy source of online information, establishing yourself as a thought leader in your industry could lead to multiple revenue streams like sponsored posts, affiliate marketing, and consulting opportunities.
Additionally, with approximately 409 million people viewing more than 20 billion pages each month, the reach is extensive. This broad audience can translate into passive income through ad revenue, online courses, and selling digital products. By strategically building a mailing list and maintaining a consistent posting schedule, you could not only enhance industry influence but also build a profitable side business or even transition to full-time entrepreneurship.
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. Start a freelance writing business ($62.6K/month)
Starting a freelance writing business could be a strategic way to supplement your income as a product manager and pave the path to six figures. With your existing skill set in communication, meeting deadlines, and staying on the cutting edge, you could easily transition into writing gigs that require a strong grasp of industry trends and product-related content. You have the flexibility to define your work schedule, allowing you to seamlessly juggle your primary role and freelance work.
Moreover, your insider knowledge and expertise as a product manager could make you a valuable asset in writing compelling, insightful content for tech blogs, industry reports, and product reviews. This side hustle not only diversifies your income but also enhances your professional brand, potentially leading to more lucrative freelance opportunities and even consulting gigs.
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.
11. Become an affiliate marketer ($55.3K/month)
Supplementing your income as a product manager through an affiliate marketing business is an enticing possibility. Given your skill set in managing products and driving business strategies, you could effectively leverage these talents to promote other companies' products or services and earn a commission for every sale made through your referral. This allows you to generate additional revenue without needing to create or own the products yourself.
Starting an affiliate marketing venture involves signing up for affiliate programs in your chosen niche and utilizing your marketing acumen to drive traffic and sales. Since it requires minimal upfront investment, you could easily integrate this side hustle with your current career. With dedication and strategic promotion, this business model could significantly boost your income, potentially paving the way to a six-figure annual income.
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.
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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.
