How to Make 6 Figures As A Software Development Manager? (11 Best Ways in 2024)
So you want to make six figures as a software development manager? Good for you! Being a software development 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 software development manager - business ideas you can start to achieve such income. Keep reading to learn more!
1. Start a youtube channel ($146K/month)
Starting a YouTube channel could be an excellent way to supplement your income as a software development manager and potentially help you reach a six-figure salary. By sharing your expertise in software development and management through engaging and informative videos, you could attract a loyal audience and leverage YouTube's established monetization system. Once you reach the minimum requirements of 1,000 subscribers and 4,000 watch hours, you could join the YouTube Partner Program and start earning revenue from ads.
In addition to advertising revenue, your channel could open up further income streams such as sponsorships, affiliate marketing, and selling your own digital products or courses. These opportunities could significantly augment your income, especially if you build a strong follower base. If you love content creation, YouTube's immense popularity could be a fruitful platform for both personal fulfillment and financial gain.
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.
2. Digital products ($242K/month)
Supplementing Income with Digital Products
As a software development manager, you could leverage your technical expertise to create and sell digital products, such as software applications, online courses, or eBooks. Given the rising demand and ease of sharing digital products, this can be an excellent way to supplement your income.
Digital products are straightforward to create and don't require the logistics associated with physical products, such as inventory management. By selling these products directly from your website, you could generate additional revenue streams, propelling you closer to a six-figure income while minimizing risks and operational hassles. The endless possibilities in the digital product space provide ample room for entrepreneurial growth.
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.
3. Become an affiliate marketer ($55.3K/month)
Starting an affiliate marketing business could significantly supplement your income as a software development manager. By leveraging your existing technical skills and network, you could promote industry-related products or services through blogs, webinars, or social media, earning commissions on every sale made via your referral. This high-potential venture is attractive due to its low start-up costs; you don't need to create or own the products you promote.
Simply sign up for affiliate programs in niches you are passionate about and start driving traffic using unique tracking links provided to you. Given that you're already adept in analytical thinking and problem-solving, creating effective marketing strategies could come naturally, maximizing your earnings potential without the need for a large initial investment. This side venture could propel you toward the six-figure mark while allowing you to maintain your current role and responsibilities.
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.
4. Start an ecommerce store ($287K/month)
As a software development manager, you could supplement your income and move towards a six-figure salary by starting an ecommerce store. Leveraging the lower overhead costs and increased flexibility of an online business, you could sell products or services to a broader audience without the limitations of a brick-and-mortar establishment.
The booming ecommerce market provides the convenience that consumers crave, allowing them to purchase items from their favorite brands without leaving their homes. This widespread accessibility can significantly boost your sales potential, offering a viable way to generate additional revenue alongside your primary career in software development. By setting up a user-friendly website, integrating payment processing, and efficiently managing inventory, you could create a sustainable side business that complements your professional expertise.
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. Create an online course ($82.8K/month)
As a software development manager, starting an online course could be a highly effective way to supplement your income and work towards making six figures. By identifying key educational gaps in your field and developing engaging video lessons, you could create a resource that addresses the needs of aspiring developers and managers seeking advanced knowledge. This entrepreneurial venture not only allows you to share your expertise but also opens up the potential for passive income.
Given the low startup costs associated with creating and selling digital classes, the financial risk is minimal while the possible rewards are substantial. Whether you opt for self-paced or cohort-based structures, an online course business lets you serve a diverse audience of lifelong learners. This can be a highly rewarding and lucrative way to monetize your skills and instructional talents on your journey 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.
6. Become a social media influencer ($57.4K/month)
Supplementing your income as a software development manager by becoming a social media influencer is a compelling opportunity. Given your expertise in technology and management, you could create content focused on software development, project management, or industry trends. By providing valuable insights and tips, you could build a large following and attract brands looking to engage with your audience.
With your established credibility and knowledge, you could secure sponsorships, affiliate deals, and advertising partnerships. This could significantly boost your earnings and help you achieve a six-figure income. Moreover, your presence as an influencer in the tech space could further solidify your personal brand and generate additional career opportunities.
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.
7. Start a blog ($44.9K/month)
Starting a blog could be a rewarding way for you to earn extra income or even transition to a full-time business while sharing your expertise in software development management. With blogs being rated as the 5th most trustworthy source of online information, you have the potential to build a loyal readership by writing high-quality content that addresses common challenges in your field. This increased visibility could lead to monetization opportunities through advertisements, sponsored posts, or affiliate marketing.
Moreover, with approximately 77% of internet users reading blogs and 409 million people viewing over 20 billion pages each month, there's a vast audience waiting to be tapped. By strategically growing your blog and creating engaging content, you could attract a steady stream of traffic, which translates into revenue. Whether you choose to blog as a side hustle or as a full-time endeavor, the key is to select a niche you are passionate about, develop a solid content strategy, and maintain a consistent posting schedule to keep your audience engaged.
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.
8. Start a career coaching business ($48.5K/month)
Starting a career coaching business could be a lucrative avenue for a software development manager looking to make six figures. Your extensive industry knowledge and firsthand experience with professional growth could position you as a highly effective coach. By providing personalized guidance for resume building, interview preparation, and workplace advancement, you could help others navigate their careers while supplementing your own income.
With the flexibility to conduct sessions virtually or in-person, you could build a client base without significantly disrupting your current job. This venture allows you to leverage your expertise and motivational abilities, offering specialized advice and accountability that could bring meaningful breakthroughs to your clients. Plus, setting your own schedule and running a side business could offer fulfillment and financial reward, pushing you towards that six-figure income goal.
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.
9. Start a freelance writing business ($62.6K/month)
Starting a freelance writing business could be a strategic way to supplement your income as a software development manager, enabling you to increase your earnings and potentially reach six figures. With strong writing skills, you could leverage your technical knowledge to write insightful articles, whitepapers, and blog posts on software development, tech trends, and project management. This not only boosts your income but also positions you as an authority in your field.
Freelance writing offers the flexibility to define your own work schedule, allowing you to work from home at any time that fits your primary job responsibilities. By meeting deadlines and staying on the cutting edge of writing trends, you could build a client base and enjoy a steady stream of writing assignments. This entrepreneurial venture could grow into a substantial side income or even a full-time business, providing financial stability and professional growth.
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 social media marketing agency ($386K/month)
A social media marketing agency could be an exceptional way to supplement your income as a software development manager, helping you achieve six figures. With the flexibility to automate many processes using social media marketing tools, you do not need to commit a significant amount of time to this side business. By developing a solid social media marketing strategy, you could effectively serve a diverse range of clients.
To get started, you'd need to create an agency portfolio to showcase your services and attract potential customers. With your expertise in software development, you could leverage your understanding of technology to offer innovative and efficient social media solutions. Whether you're aiming to cover your daily expenses, save up for a vacation, or finance your further education, running a social media marketing agency could provide the additional income and financial freedom you're seeking.
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.
11. Start a podcast ($97.9K/month)
Starting a podcast could offer you a unique avenue to supplement your income as a software development manager. By creating a podcast focused on topics you're passionate about, such as software development trends, management strategies, or industry insights, you could attract a dedicated audience and gradually build a loyal listener base.
Once your podcast gains traction, you could monetize it through sponsorships, advertisements, or even premium content subscriptions. These revenue streams, combined with your expertise, could significantly enhance your earning potential and help you reach that six-figure milestone.
In addition to direct financial benefits, running a podcast could also increase your visibility and professional credibility, potentially leading to consulting opportunities, speaking engagements, or other lucrative side projects.
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.
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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.
