Passive Income Ideas For Business Analysts [2024]
Interested in earning passive income as a business analyst in 2024?
We put together a few of the best passive income ideas you can start as a business analyst today. These will help you increase your quality of life by bringing in more income for yourself or your business.
For each income idea, we’ll show you real-world examples, revenue expectations for each idea, plus some things you might need to know before you start your passive income journey as a business analyst.
Here's the full list:
1. Make passive income with an online course sales business ($85K/month)
Starting an online course sales business could be a practical way for you, as a business analyst, to supplement your income. You have specialized skills and knowledge that others are eager to learn. By creating and selling a course on topics like data analysis, business intelligence tools, or project management methodologies, you could share your expertise with a wider audience.
The process is more straightforward than you might think. You simply need to identify your target audience, develop a course curriculum, and choose an online learning platform to host your course. With the e-learning market expected to be worth over $645 billion in the near future, this venture could turn into a significant source of passive income.
How much you can make: $100 — $300,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 180 days (?)
A multipreneur shares how she built a successful print on demand side hustle, generating $120,000 per year through multiple brands spread over various platforms.
2. Make passive income with an ai based business solution ($55.8K/month)
As a business analyst, you could leverage your skills and knowledge of business operations to create an AI-based business solution. This venture involves using artificial intelligence to automate tasks, analyze data, and enhance decision-making processes. With AI, you could help companies streamline customer service, manage inventory more efficiently, and tailor marketing strategies to individual customer preferences.
By starting an AI-based business solution, you could offer valuable tools that enhance operational efficiency and reduce costs for businesses. The great part is you don’t need extensive tech expertise to get started, as many AI platforms are designed to be user-friendly. The increasing demand for AI solutions presents a lucrative opportunity to supplement your income and explore new entrepreneurial avenues.
How much you can make: $4,000 — $120,000/month
How long does it take to build: 125 days (?)
Mikkelsen Twins grew an online education company from scratch with over 800 students, making over 6-figures in profit every month thanks to their successful program, Audiobook Income Academy 2.0.
3. Make passive income with an email marketing tool ($992K/month)
As a business analyst, your skill set aligns well with the data-driven nature of email marketing tools. By leveraging your analytical abilities, you could create a sophisticated email marketing application that helps businesses optimize their campaigns through detailed insights and performance metrics. This could be a valuable resource for companies looking to make data-informed decisions to improve their marketing efforts.
You could use your knowledge in data analysis to offer features like A/B testing, customer segmentation, and performance analytics in your tool. These features could make it easier for businesses to target their customers effectively, thereby increasing engagement rates and driving sales. Plus, the email marketing industry is growing rapidly, with a projected market size of $2.53 billion by 2028, providing ample opportunity for passive income.
Setting up an email marketing tool requires initial steps like purchasing a domain and hosting account, but the potential returns in terms of both financial gain and market impact are significant. This venture not only supplements your income but also allows you to apply your analytical expertise in a new and rewarding way.
How much you can make: $120 — $20,833,333/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 180 days (?)
H-supertools founder Hasan developed a set of free SEO and digital marketing tools generating $2k per month in profit using Google Adsense, affiliate marketing, selling ad spaces, and email, plans to launch a membership option, and has attained over 80k registered users and 300k monthly visits in less than two years.
4. Make passive income with a lead generation tool ($108K/month)
As a business analyst, you could use your skills to develop a lead generation tool that helps companies find new clients more efficiently. This tool could integrate with websites, social media networks, and other digital channels to collect valuable customer data such as email addresses and phone numbers. This would not only automate a time-consuming process but also allow businesses to focus on converting leads into paying customers.
Given the high demand for efficient lead generation solutions, businesses of all sizes might be eager to use your tool, making it a potentially profitable venture. Your experience in analyzing business needs and your tech-savvy nature could help you create a product that effectively bridges the gap between potential and actual customers. This venture could supplement your income and even grow into a significant passive income source over time.
How much you can make: $1,000 — $400,000/month
How much does it cost to start: $600 (?)
How long does it take to build: 90 days (?)
Dux-Soup is a LinkedIn automation tool that helps business owners and sales & marketing professionals generate more leads, increase efficiency, and save time; with over 70,000 users and revenue of nearly $5 million, it offers automated top-of-the-funnel LinkedIn outreach activities, targeted LinkedIn campaigns and multi-touch & personalized LinkedIn drip campaigns for lead generation.
5. Make passive income with a social media automation business ($139K/month)
As a business analyst, starting a social media automation business could be a natural fit for you. You could leverage your analytical skills to develop or integrate software solutions that schedule posts, automate interactions, and analyze social media data across various platforms. Your main clients would be small businesses and influencers who need help with managing their social media accounts but don't have the time or expertise to do it effectively themselves.
This business opportunity taps into the growing demand for systematic and strategic social media engagement. By keeping up with social media trends and building strong relationships with your clients, you could tailor your services to meet their specific needs, saving them time and helping them enhance their online presence. Given your background, you could find this both a lucrative and fulfilling side hustle.
How much you can make: $4,000 — $400,000/month
How long does it take to build: 50 days (?)
MeetEdgar, a bootstrapped social media automation tool founded in 2014 by Laura Roeder, has grown to $4 million in annual recurring revenue and more than 5,000 customers, with a team size of two dozen, achieved through content marketing, social media marketing, and organic search.
6. Make passive income with a cold email service business ($170K/month)
Starting a cold email service business could be a natural fit for a business analyst. You would help companies reach new clients directly via email, leveraging your analytical skills to understand client needs, research target audiences, and track metrics like open rates and conversions. With your ability to craft compelling narratives, you could design targeted email campaigns that engage prospects effectively.
This venture could be particularly rewarding because it blends your strategic thinking with essential marketing techniques, creating a high-demand service. You could begin with small businesses looking for lead generation and scale up as your success stories build your reputation. Over time, as your client base grows, this side hustle could turn into a significant source of passive income.
How much you can make: $4,000 — $450,000/month
How much does it cost to start: $200 (?)
How long does it take to build: 35 days (?)
GMass, an email marketing platform that allows users to send cold emails and email marketing campaigns with Gmail, has attracted over 500,000 user signups, including major tech companies like Uber, LinkedIn, and Google, and now generates over $200K in monthly recurring revenue through a successful content marketing strategy and focused ad spend.
7. Make passive income with a niche blog ($31.5K/month)
As a business analyst, starting a niche blog could be a rewarding side hustle that leverages your analytical skills and industry knowledge. You could focus on sharing insights, strategies, and trends related to areas you are already familiar with, such as data analysis, project management, or business intelligence tools. By carving out a specific niche, you could connect with an engaged online community that is hungry for the unique perspective and expertise you bring to the table.
Beyond sharing articles and how-to guides, you could monetize your blog through affiliate links, offering downloadable resources, or even collaborating with relevant brands. This could not only supplement your income but also establish you as a thought leader in your field. With consistent effort and engagement, your blog could become a reliable source of passive income while you continue to grow in your primary career.
How much you can make: $100 — $650,000/month
How much does it cost to start: $650 (?)
How long does it take to build: 60 days (?)
Starter Story grew to 1.4 million monthly visitors and millions in annual revenue by sharing the stories of entrepreneurs. Pat breaks down the early days and how he grew the business into something that changed his life.
8. Make passive income with a niche website ($107K/month)
As a business analyst, you could harness your analytical skills and market insights to build a niche website around a specialized topic you're passionate about. This kind of website provides valuable content to a focused audience, which could include tutorials, industry analysis, or guides related to your field. Your understanding of data and trends can help you select a niche with high interest and low competition.
Creating a niche website involves generating engaging content and driving traffic through SEO, which means time spent researching and writing can pay off over the long term. Monetization options like affiliate marketing, ad placements, or selling digital products can turn your specialized knowledge into revenue. Successful niche sites often grow into reliable passive income streams, making it a smart side project for entrepreneurial business analysts.
How much you can make: $400 — $250,000/month
How long does it take to build: 60 days (?)
DPW (Digital Procurement World) is a fast-growing conference and community in procurement that has more than tripled in revenue since launching in 2019, capping out the year at €1.8 million, with 95% of their growth coming from inbound traffic leveraging LinkedIn and applying social selling techniques.
9. Make passive income with an affiliate marketing business ($77.5K/month)
As a business analyst, starting an affiliate marketing business could be a smart way to supplement your income. You understand how to analyze data and identify trends, which are key skills for finding profitable products to promote. By leveraging your experience in data analysis, you could effectively choose and market products that have a higher likelihood of generating sales.
You could partner with an eCommerce store or a manufacturer, promoting their products or services and earning a commission for each sale made through your referral. Over time, this could build a steady stream of passive income as your marketing efforts continue to drive sales even when you're not actively working. This way, you can use your analytical skills to create an additional source of revenue, without needing to invest large amounts of time or money upfront.
How much you can make: $500 — $773,000/month
How much does it cost to start: $700 (?)
How long does it take to build: 60 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.
10. Make passive income with a podcast ($97.9K/month)
As a business analyst, starting a podcast could be a great way to supplement your income and make extra money. You could create content focused on topics like data analysis, industry trends, or project management—areas you're already knowledgeable in and passionate about. This kind of specialized content could attract a dedicated audience of fellow professionals seeking insights and advice.
To get started, you'd only need basic recording equipment like a microphone and headphones, and a hosting platform to publish your episodes. Promoting your podcast through social media and online communities could help you build an audience. Over time, this could lead to opportunities for sponsorships or advertisers, turning your podcast into a source of passive income.
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.
11. Make passive income with a costume rental business
As a business analyst, you could leverage your analytical skills to identify market trends and customer preferences in the growing costume rental industry. By analyzing data on popular events and seasonal demand, you could optimize inventory and pricing to maximize rentals. Your ability to forecast trends would be invaluable in stocking the right costumes for popular occasions like Halloween, themed parties, and festivals.
Additionally, your problem-solving skills could help streamline operations and enhance customer experiences, leading to repeat business and positive reviews. By investing initial time in setting up the business and creating an efficient system, you could eventually see the business generate passive income with minimal oversight. This venture could be a fulfilling way to use your business acumen in a fun and creative market.
12. Make passive income with a stock investing business ($30.3K/month)
Starting a stock investing business could make a lot of sense if you're a business analyst. You already have skills in data analysis and understanding market trends, which are crucial for making informed decisions in the stock market. By leveraging these abilities, you could analyze stock performances and make strategic investments to generate profit.
Beyond just buying and selling stocks, this venture could allow you to deepen your expertise in financial markets, offering both intellectual satisfaction and potential financial gains. Utilizing educational resources and trading platforms can equip you further, making it easier to navigate the complexities of stock investing.
While it's not a get-rich-quick scheme, your analytical skills and attention to detail could give you a significant edge. If you're ready to commit to continuous learning and keep a close eye on market movements, starting a stock investing business could be a rewarding way to supplement your income and earn passive revenue.
How much you can make: $4,000 — $160,000/month
How much does it cost to start: $3,500 (?)
How long does it take to build: 90 days (?)
Ticker Nerd is a monthly subscription service for investors that surfaces and analyzes trending stocks before the hype train arrives, and now has $4.5k in monthly recurring revenue from its newsletter without spending a single dollar on advertising, having validated the business via subreddits and organic Product Hunt launch strategy.
13. Make passive income with a mobile app ($70.3K/month)
As a business analyst, you could use your analytical skills to identify market gaps and create a mobile app that addresses specific needs. Turning your ideas into an app is more feasible than you might think. You don't need advanced coding knowledge; you could either learn the basics or hire a developer to bring your vision to life.
Your main responsibilities would include planning the user experience, designing engaging interfaces, and rigorously testing the app for functionality. Effective marketing is essential to make your app stand out and reach your target audience. With dedication and the right strategy, your app could attract significant downloads and generate substantial revenue, providing a steady stream of passive income.
How much you can make: $1 — $500,000/month
How long does it take to build: 180 days (?)
BACH, an app that plans and books bachelorette parties, has grown from $0 to >$1M net revenue run rate in less than 6 months, gained over 100,000 users in their first 60 days, and has over 40,000 parties using the app this month.
14. Make passive income with an AI writing tool ($255K/month)
As a business analyst, you could leverage your analytical skills and understanding of market needs to develop an AI writing tool. This tool would use artificial intelligence to help create content effortlessly, which is in high demand across various sectors such as marketing, blogging, and academic writing. Your expertise in data analysis could guide you in optimizing the tool to generate accurate, engaging, and error-free content.
Creating an AI writing tool could provide a reliable source of passive income by offering subscriptions or licenses to users who need consistent, quality content. Additionally, you could explore partnerships with companies that require regular content updates, thus creating ongoing revenue streams. Not only would this venture supplement your income, but it would also position you at the forefront of technological innovation in the content creation industry.
How much you can make: $4,000 — $1,000,000/month
How long does it take to build: 52 days (?)
Rytr, a new AI writing assistant developed by a startup platform and business incubator, has become a market leader, serving over 300,000 customers across the world and doing seven figures in ARR.
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.
