Passive Income Ideas For Digital Transformation Consultants [2024]
Interested in earning passive income as a digital transformation consultant in 2024?
We put together a few of the best passive income ideas you can start as a digital transformation consultant 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 digital transformation consultant.
Here's the full list:
1. Make passive income with an AI writing tool ($255K/month)
Starting an AI writing tool could make sense for digital transformation consultants because you already understand how to integrate technology into business processes. By developing a tool that generates accurate and engaging content with the help of artificial intelligence, you could provide a solution that's in high demand by businesses, bloggers, and students who need quality content quickly and efficiently.
As a consultant who already advises on technological advancements, you could leverage your expertise to create a tool that stands out in the market. Not only would this innovation supplement your income, but it could also establish you as a thought leader in the rapidly growing field of AI technology. Imagine helping writers around the globe ease their workload and boost productivity, thereby leaving a significant mark on the digitized world.
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.
2. Make passive income with an ai based business solution ($55.8K/month)
As a digital transformation consultant, you could consider starting an AI-based business solution to supplement your income. This venture leverages artificial intelligence to improve business operations in areas like customer service, inventory management, and data analysis. AI tools can take over repetitive tasks, offer valuable customer insights, and forecast market trends accurately, making them incredibly useful for companies looking to enhance efficiency and cut costs.
With the growing demand for AI solutions, there are many opportunities to offer value to businesses seeking a competitive edge. You don't need to be a tech expert to get started; many platforms provide user-friendly interfaces and strong support systems. By focusing on high-impact areas and creating a solid implementation plan, you could tap into this expanding market and innovate in ways that boost business performance.
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 a lead generation tool ($108K/month)
As a digital transformation consultant, you could find great value in developing a lead generation tool. This business idea involves creating software that identifies and captures potential customer leads for other businesses. Imagine automating the tedious process of finding new clients, allowing companies to focus more on converting leads into sales.
By integrating with websites, social media channels, and other digital touchpoints, your tool could collect valuable data like email addresses, phone numbers, and interests. The demand for efficient lead generation is high, as businesses of all sizes are eager to streamline their marketing efforts and grow their customer base. If you have a knack for technology and marketing, this could be a lucrative way to supplement your income.
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.
4. Make passive income with an email marketing tool ($992K/month)
As a digital transformation consultant, you could leverage your technical expertise to develop an email marketing tool that simplifies the way businesses manage their email campaigns. By creating a user-friendly platform that helps companies produce, send, and automate bulk emails, you could address a common pain point for busy professionals who lack the time or skills to engage in effective email marketing.
With the email marketing industry expected to grow significantly, this could be an excellent opportunity for you to tap into a booming market. Moreover, as a consultant, you already possess insights into the needs of businesses undergoing digital transformation, making it easier to tailor the tool to suit various industries and help your clients achieve better results. By adding this tool to your portfolio, you could not only generate passive income but also enhance your reputation as a holistic digital solutions provider.
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.
5. Make passive income with a social media automation business ($139K/month)
As a digital transformation consultant, you could leverage your technical skills and understanding of business processes to create a social media automation business. This involves developing tools and services that help clients manage their social media accounts effortlessly, such as scheduling posts, automating interactions, and analyzing data.
With the increasing importance of a consistent and strategic social media presence, small businesses and influencers are willing to pay for automation solutions that save them time and enhance engagement. By staying updated on social media trends and building strong client relationships, you could tailor these services to meet your clients' specific needs, creating a steady stream of passive income.
Overall, your expertise in technology and marketing makes you well-suited to develop and offer these automation services, allowing you to tap into a growing market while supplementing your income.
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)
As a digital transformation consultant, you could leverage your expertise by starting a cold email service business. This venture involves crafting and sending targeted email campaigns to help companies reach new clients directly via email. If you’ve got a strategic mindset and can write compelling emails, you could help businesses generate leads and grow their customer base.
Given your background, you’d already be familiar with analyzing client needs and utilizing software to track metrics like open rates and conversions. This combination of marketing skills and technical know-how can make this business quite rewarding. The potential for scaling is real: you could start with small businesses and, as your success stories grow, attract larger clients, thereby supplementing your income and expanding your professional portfolio.
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 an online course sales business ($85K/month)
As a digital transformation consultant, your expertise is invaluable to businesses undergoing change. You could leverage this knowledge by creating and selling online courses. Your courses could cover topics like digital strategy, process automation, and the latest tech tools, providing valuable insights to those looking to navigate the digital landscape.
By launching an online course, you could create a steady stream of passive income without needing to be actively involved every day. With the e-learning market set to be worth over $645 billion in the coming years, there's a significant opportunity for earning potential. All it takes is choosing your target audience, developing your course content, and selecting an online platform to host and sell your course.
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.
8. Make passive income with a niche blog ($31.5K/month)
Starting a niche blog could be a smart move as a digital transformation consultant. By sharing your specialized knowledge on topics like the latest technology trends, case studies, and digital tools, you could engage a passionate online community. Your insights would be valuable to businesses looking to navigate their own digital transformation journeys.
To get started, you could identify a unique aspect of digital transformation that's not widely covered, creating content that addresses specific challenges or solutions. By writing informative articles, sharing how-to guides, or even conducting video interviews with industry leaders, you could build credibility and attract a loyal audience.
Monetization opportunities include affiliate links for software tools, sponsored posts from tech companies, and collaborations with relevant brands. As your blog gains visibility, you might also be invited to speak at industry events or collaborate on YouTube, further increasing your passive income streams.
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.
9. Make passive income with a niche website ($107K/month)
If you're a digital transformation consultant looking for a focused online business that offers both creative freedom and potential revenue, consider building a niche website. A niche website centers around a specialized topic you are passionate about and knowledgeable in, serving a dedicated audience with targeted content and products. This venture allows you to tap into your existing expertise while exploring creative content that aligns with your professional skills.
Starting a niche website involves creating compelling content and driving traffic to your site. You'll need to invest time in research, content creation, and SEO to attract a loyal following. Once your site gains traction, various monetization options like affiliate marketing, ad placements, or selling digital products could turn your specialized content into a reliable source of passive income.
If you have a specific interest and the drive to dive deep, a niche website could be a rewarding project that supplements your income as a digital transformation consultant. By leveraging your skills and industry knowledge, you might find this entrepreneurial venture both personally satisfying and financially beneficial.
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.
10. Make passive income with a pop culture blog ($3K/month)
As a digital transformation consultant, you could leverage your expertise to create a profitable pop culture blog. Your analytical skills and tech-savvy nature would help you quickly identify trending topics and optimize your blog for search engines, drawing in a larger audience. By writing engaging articles about movies, TV shows, music, and celebrity news, you could attract readers who share your interests and build a loyal following.
Additionally, your knowledge of digital tools could streamline content creation and marketing, making it easier to manage the blog alongside your consulting work. Over time, you could monetize your blog through ads, sponsored posts, and affiliate marketing, creating a steady stream of passive income. This venture would allow you to turn your passion for pop culture into a rewarding side hustle, while still focusing on your primary career.
How much you can make: $2,000 — $4,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 10 days (?)
Innovations and More's founder George launched the company in 2018 with "Essentials you never knew you needed" such as the UStop Pee Stopper and the Cell Phone Holder, with sales increasing by up to 50% each month since March 2020 with a range of different products at various stages of development.
11. Make passive income with a knife sharpening service ($101K/month)
As a digital transformation consultant, you could explore the opportunity of starting a knife sharpening service to supplement your income. Since every household has knives that need sharpening, this simple service could be a practical way to earn extra money. You could easily fit knife sharpening into your schedule by using your existing skill set in organization and efficiency to manage your time effectively.
Imagine driving through neighborhoods, offering to sharpen dull knives for homeowners on the spot. The initial market is already there; all it requires is a bit of your free time and minimal setup costs. This hands-on side hustle is an excellent way for entrepreneurial-minded consultants to diversify their income streams without needing specialized expertise.
How much you can make: $2,000 — $200,000/month
How much does it cost to start: $5,000 (?)
Knife Aid, a mail-in knife sharpening service, has seen a steady increase in sales month over month since launching in early 2019 and is now trading at $250,000 per month largely due to the service being "something every American home is in need of," gaining huge PR boosts, and offering a unique supply-and-repair service that requires very low investment.
12. Make passive income with a stock investing business ($30.3K/month)
As a digital transformation consultant, you could venture into a stock investing business to supplement your income and make extra money. With your analytical skills and problem-solving abilities, you might find it exciting to analyze market trends and make informed stock-picking decisions. The same precision and strategic planning used in digital transformation projects could be applied to trading, helping you manage risks and seek out profitable opportunities.
Moreover, with plenty of online educational resources and user-friendly trading platforms, you could easily get started while continuing your consulting work. Stock investing requires dedication and continuous learning, but if you’re prepared to immerse yourself in the world of market movements, the potential for high returns makes it a promising side hustle. This way, you’re not only diversifying your income streams but also exploring a new, intellectually stimulating endeavor.
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 stock photography business ($14.6K/month)
As a digital transformation consultant, you could leverage your understanding of digital tools and platforms to start a stock photography business. You might already have the skills to create high-quality visuals, which can be a valuable asset in the stock photography market. By investing in good photography gear and learning the best practices for taking stock photos, you could build an impressive portfolio.
This portfolio could then be uploaded to stock photography websites, where businesses and marketers frequently seek images for their projects. With the right online presence, your photos could sell faster and at profitable margins, providing you with a steady stream of passive income. In essence, your expertise in the digital realm could give you an edge in understanding market needs and optimizing your stock photography sales.
How much you can make: $1,200 — $45,000/month
How much does it cost to start: $3,500 (?)
How long does it take to build: 60 days (?)
Pro Photo Studio founder Tsour Lee Adato shares how she turned a $5k investment into a business that services over 500 clients annually and makes approximately $350k per year with plans to expand and become a 7-figure business while offering advice to fellow entrepreneurs to always be innovating, learning and growing, and not to undervalue themselves.
14. Make passive income with a podcast ($97.9K/month)
Starting a podcast could be a smart way to supplement your income as a digital transformation consultant. You could discuss topics you're passionate about, like the latest trends in digital transformation or share success stories from your work to attract an audience interested in tech and business innovation.
With some basic recording equipment and a clear, focused topic, you could easily get started without breaking the bank. As your podcast grows, you might attract sponsors or advertisers, turning your passion into a steady stream of extra income while enhancing your reputation as a thought leader in your field.
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.
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.
