Passive Income Ideas For It Asset Managers [2024]
Interested in earning passive income as a IT asset manager in 2024?
We put together a few of the best passive income ideas you can start as a IT asset manager 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 IT asset manager.
Here's the full list:
1. Make passive income with an online course sales business ($85K/month)
As an IT asset manager, you could leverage your expertise to create and sell online courses that teach others about efficient IT asset management, software lifecycle management, or even the basics of IT infrastructure. Given your deep knowledge in this area, you could break down complex topics into easy-to-understand modules that offer real value to individuals and businesses looking to improve their IT asset management practices.
Creating and selling online courses allows you to tap into the rapidly growing e-learning market, which is projected to exceed $645 billion in the coming years. By targeting a specific audience interested in IT asset management, you could start earning passive income with minimal ongoing effort once the course is developed and launched on an online learning platform. This way, you could turn your expertise into a consistent revenue stream without sacrificing your day job.
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)
If you're an IT asset manager looking to make extra money, starting an AI-based business solution could be a smart move. AI can optimize business processes like customer service, inventory management, and data analysis, helping companies become more efficient and cost-effective. You could use your existing knowledge of IT systems to identify key areas where AI can make a difference and offer solutions to businesses in need.
One possibility is to provide AI tools that automate repetitive tasks, freeing up employees to focus on more important work. You could also offer data analysis services, using AI to provide valuable customer insights and predict market trends. With demand for AI solutions on the rise, this could be a lucrative opportunity to supplement your income while helping businesses improve their operations.
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)
If you're an IT asset manager looking for a way to supplement your income, developing a lead generation tool could be a smart move. By creating software that helps businesses find and capture potential customers, you would be leveraging your technical skills to solve a common business challenge. This tool would automate the process of gathering leads, freeing up time for companies to focus on converting those leads into sales.
Your expertise in managing IT assets means you already understand the importance of efficient, reliable systems. Bringing this to lead generation, you could design a tool that integrates smoothly with websites, social media, and other digital platforms. As businesses are constantly seeking ways to improve their marketing efficiency, a lead generation tool that collects data like email addresses and phone numbers could be in high demand, providing you with a steady stream of passive 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 an IT asset manager, you could leverage your technical skills to create an email marketing tool, opening up new streams of passive income. An email marketing tool is a software application that helps you create, manage, and automate email campaigns, allowing users to reach large audiences efficiently. With the email marketing industry projected to grow to $2.53 billion by 2028, there's a significant opportunity to tap into this booming market.
You could start by acquiring a domain and hosting account, which are relatively simple steps given your technical background. From there, you could develop a tool that caters to specific needs, such as lead generation or sales, attracting various clients ranging from entrepreneurs to real estate agents. By automating email campaigns, users of your tool could achieve better outreach and engagement, making your product highly valuable.
Creating an email marketing tool might initially require some effort, but once established, it could generate a steady stream of passive income. Your knowledge in IT asset management would be instrumental in ensuring the tool is both reliable and scalable, giving you an edge in this competitive market.
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 an AI writing tool ($255K/month)
As an IT asset manager, you could leverage your technical expertise to develop and deploy an AI writing tool, providing an innovative solution for content creation. This tool, powered by artificial intelligence, could automate the writing process, offering businesses, bloggers, and students a means to generate accurate and engaging content quickly and efficiently. By addressing the growing demand for high-quality content, you could tap into a lucrative market and earn passive income.
Creating an AI writing tool is not only about providing a service but also about implementing a product that can revolutionize how content is produced. With your background in IT asset management, you could ensure the tool is both reliable and user-friendly, making it an indispensable resource for many professionals. This venture presents an exciting opportunity to meld your technical skills with entrepreneurial aspirations, opening the door to new income streams.
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.
6. Make passive income with a mobile app ($70.3K/month)
As an IT asset manager, you bring a wealth of knowledge about technology and efficient resource management, making you well-poised to venture into developing a mobile app. You could create an app that simplifies IT asset tracking, maintenance schedules, or resource allocation—tools that you know firsthand are in high demand in your field. With your background, you might find it easier to identify gaps in the market and design a solution that addresses specific needs within the IT industry.
Starting a mobile app business does require some initial learning or collaboration. If coding isn't your strong suit, you could hire a skilled developer to bring your vision to life. Your main focus would be on planning the user experience and ensuring the app functions smoothly, drawing from your daily problem-solving experience. Effective marketing will be essential to attract users, but with a targeted approach, your app could quickly gain traction and offer you 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.
7. Make passive income with a niche website ($107K/month)
As an IT asset manager, you could leverage your industry knowledge to start a niche website focused on IT asset management tips, tools, and best practices. This venture would entail creating content that appeals directly to IT professionals looking for advice on managing hardware and software assets efficiently. Think blog posts, how-to guides, product reviews, and even video tutorials that provide real value to your audience.
With traffic flowing to your site through well-researched content and effective SEO, you could monetize your niche website via affiliate marketing, ad placements, or even selling your own digital products, such as eBooks or courses on IT asset management. This could turn your industry expertise into a steady stream of passive income while allowing you to help others in your field. If you have a passion for sharing your knowledge and a knack for writing or creating content, a niche website could be a fulfilling and profitable sideline.
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.
8. Make passive income with a social media automation business ($139K/month)
As an IT asset manager, you could easily leverage your technical skills to start a social media automation business. This side hustle involves creating tools and services that help businesses and influencers schedule posts, automate interactions, and analyze data, saving them substantial time and effort.
Given your background in managing and optimizing IT resources, you could develop or integrate software solutions that cater to the growing demand for consistent and strategic social media engagement. Additionally, your ability to stay updated on tech trends and build strong client relationships will be essential in tailoring these services to meet specific needs.
Starting this kind of business could offer a lucrative and fulfilling way to supplement your income, aligning well with your technical expertise and interest in technology-driven solutions.
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.
9. Make passive income with a wordpress plugin business ($33.4K/month)
As an IT asset manager, you already possess the technical skills and problem-solving capabilities essential for creating effective solutions. If you've identified a recurring issue or inefficiency within IT asset management, you could develop a WordPress plugin to address it. This approach allows you to leverage your professional expertise to build a tool that others in the field might also find valuable.
Once developed, you could sell your plugin on online platforms like CodeCanyon or even through your own website or blog. By doing so, you could create a passive income stream that continues to generate revenue as more people discover and purchase your plugin. This way, you're not only supplementing your income but also contributing valuable tools to your industry.
How much you can make: $120 — $120,000/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 120 days (?)
Time commitment per week: Min. 5 hours/week
Wheely Sales CEO Josh created a lucky wheel popup that has grown revenue from $0 to $600/month in just 4 months since getting started and has attracted over 1.1 million users to his customers’ websites, all while proving that when it comes to creating a product, competition is validation.
10. Make passive income with an affiliate marketing business ($77.5K/month)
As an IT asset manager, you could start an affiliate marketing business to supplement your income by leveraging your knowledge of tech products and services. By promoting and reviewing software, hardware, and other IT-related products, you would use your expertise to recommend solutions that provide real value to your audience. This way, every time someone makes a purchase based on your recommendations, you would earn a commission.
You could partner with tech companies or eCommerce stores, promoting products that you are already familiar with in your professional life. This not only keeps your content relevant and trustworthy but also ensures you can provide genuine insights, which can attract more followers and potential buyers. Starting an affiliate marketing business could be a seamless way to turn your industry knowledge into a steady stream of passive income.
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.
11. Make passive income with a volleyball accessories business
As an IT asset manager, you could leverage your organizational skills and technology knowledge to start a volleyball accessories business. By utilizing your experience in project management, you could efficiently handle the logistics of designing, manufacturing, and selling products like knee pads, wristbands, and portable ball pumps. This business would tap into the growing market of recreational sports and meet the consistent demand for high-quality volleyball gear.
Additionally, your familiarity with data analysis could help you conduct market research to identify trends and tailor your products to meet customer needs. With your tech-savviness, you could also create an effective online presence to reach a broader audience. This side hustle not only generates passive income but also allows you to combine your professional skills with your passion for volleyball.
How much you can make: $1,000,000/month
CROSSNET, the world's first four-way volleyball game, went from $74,000 in revenue in 2018 to $2,250,000 in sales in just one year by attracting customers through social media, email marketing, and exclusive distribution agreements with retailers like Target.
12. Make passive income with a stock investing business ($30.3K/month)
As an IT Asset Manager, you possess a strong analytical mindset and an eye for detail, both of which are crucial when diving into a stock investing business. By leveraging your existing skills in data analysis and technology management, you could successfully analyze market trends and make informed decisions about buying and selling stocks. This business avenue allows you to diversify your income sources while utilizing competencies you already have.
Starting a stock investing business could also cater to your entrepreneurial spirit by turning your interest in finance and markets into a profitable side gig. The availability of numerous educational resources and user-friendly trading platforms makes it easier to gain the necessary knowledge and tools needed to succeed. While it's important to understand that this is not a rapid pathway to wealth, a committed approach to learning and strategic planning could lead to substantial long-term financial rewards.
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 podcast ($97.9K/month)
Starting a podcast could make sense as an IT asset manager because you already have a unique perspective on the industry. By creating episodes that focus on IT asset management, best practices, and industry trends, you could attract listeners who are looking for insights and advice in your field. Sharing your experiences and expertise could help establish you as a thought leader, which could open up additional monetization opportunities such as sponsorships or ads.
You could produce content on a budget by using basic recording equipment like a microphone and headphones and publishing episodes on an affordable or free hosting platform. Promoting your podcast through social media and online communities specific to IT professionals could help grow your audience over time. As your listener base increases, you could begin to attract sponsors or advertisers, turning your podcast into a steady 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.
14. Make passive income with a stock photography business ($14.6K/month)
As an IT asset manager, you could supplement your income by diving into the world of stock photography. With businesses constantly needing visuals for marketing and advertising, your high-quality photos could be in demand. You might start by investing in some good photography gear and learning the basics of taking compelling stock photos.
By building an impressive online portfolio, you could attract buyers who need exclusive images for their websites, blogs, and other marketing materials. This venture could offer you a flexible way to earn passive income while leveraging your skills in managing digital assets. All it requires is a little time and creativity to get started.
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.
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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.
