Passive Income Ideas For It Procurement Specialists [2024]
Interested in earning passive income as a IT procurement specialist in 2024?
We put together a few of the best passive income ideas you can start as a IT procurement specialist 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 procurement specialist.
Here's the full list:
1. Make passive income with an email marketing tool ($992K/month)
As an IT procurement specialist, creating an email marketing tool could be a feasible way to supplement your income. Given your expertise in evaluating and sourcing software, you have a unique perspective on the needs and preferences of corporate users, which can help you develop a tool that stands out in the market. You could leverage your existing relationships with software vendors and IT departments to identify key features that other tools lack, making your product more competitive.
The email marketing industry is growing rapidly, projected to reach $2.53 billion by 2028. This means there is a strong demand for effective tools, providing a significant opportunity to generate passive income. Even with a modest start, the potential for this side hustle to grow into a substantial revenue stream is considerable, especially if your tool can meet specific business needs better than existing options.
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.
2. Make passive income with an AI writing tool ($255K/month)
As an IT procurement specialist, you could leverage your understanding of technology to develop an AI writing tool. This tool could help create accurate and engaging content quickly, benefiting businesses, bloggers, and students who need efficient writing solutions. By embedding artificial intelligence into content creation, your tool could offer automated, error-free content generation, saving valuable time for users.
Considering the increasing demand for quality content, venturing into this area could meet a significant market need and provide a steady stream of passive income. Moreover, your expertise in procurement and technology could help you identify the best tools and resources to make your AI writing tool both effective and competitive. This could not only diversify your income but also position you at the forefront of technological innovation in content creation.
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.
3. Make passive income with an ai based business solution ($55.8K/month)
As an IT procurement specialist, you could leverage your insider knowledge of technology and vendor relationships to create an AI-based business solution. This could involve developing or partnering with platforms that use AI to optimize business processes such as customer service, inventory management, and data analysis. By offering these solutions, you could help businesses enhance efficiency and reduce costs, making it easier for them to make data-driven decisions.
The beauty of AI solutions is that they can automate mundane tasks and provide valuable insights without requiring extensive tech expertise. Many AI providers offer user-friendly interfaces and robust support, making it easier for you to implement these solutions. With the growing demand for AI in business, starting an AI-based business could be a lucrative side hustle or even a full-time venture, given your background and understanding of procurement and technology.
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.
4. Make passive income with a lead generation tool ($108K/month)
As an IT procurement specialist, you could leverage your technical skills and understanding of business needs to create a lead generation tool that helps companies find new customer leads more efficiently. By developing software that integrates with websites, social media channels, and other digital platforms, you could collect valuable data such as email addresses, phone numbers, and customer interests. This could significantly streamline the often tedious process of identifying potential clients, allowing businesses to focus more on conversion and less on hunting for leads.
Since your background gives you insight into what businesses look for in efficient tools, you can tailor the lead generation tool to meet specific needs, making it highly marketable. The demand for such software is high as companies continuously seek ways to improve their marketing and reach more customers. This could be an exciting and profitable side venture, allowing you to turn your technical expertise into a passive income stream.
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 an IT procurement specialist, you could leverage your technical expertise to start a social media automation business. This venture involves creating tools and services that help businesses and influencers schedule posts, automate interactions, and analyze data across various platforms. By offering these automation solutions, you could help your clients save time and boost their online presence, which is in high demand.
Your experience in sourcing software solutions may give you a unique edge in developing or finding the best tools for this purpose. You could also establish strong relationships with clients to tailor your services to their specific needs, enhancing their satisfaction and your business success. This not only supplements your income but also taps into your technical and marketing skills for a rewarding 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 wordpress plugin business ($33.4K/month)
As an IT procurement specialist, you're already familiar with how software tools and solutions can address specific needs within an organization. Starting a WordPress plugin business could be a practical way to leverage your expertise by developing plugins that solve common challenges faced by businesses. For example, you might create a plugin that simplifies the procurement process or enhances supply chain management on WordPress websites.
Given your experience in identifying and evaluating software solutions, you could explore gaps in the market and design plugins that offer significant value. Once developed, you could sell these plugins on popular platforms like CodeCanyon, on your own blog, or even a dedicated website. This venture allows you to tap into a vast user base and earn a steady passive income by continuously updating and supporting your plugins.
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.
7. Make passive income with a web scraping API ($34.2K/month)
As an IT procurement specialist, starting a web scraping API could be a smart way to supplement your income. By leveraging your technical skills, you could create an API service that helps businesses automate their data collection processes, whether for market research, competitor analysis, or content aggregation.
The key benefit is that your service would save companies substantial time and effort, providing them with automated tools to easily gather the data they need. This versatility means your web scraping API could cater to multiple industries, opening up a broad range of potential clients.
Given the growing reliance on data analytics in business, building a reliable and efficient web scraping API could be a profitable side venture. For those with strong coding skills and an understanding of web protocols, this could be an appealing entrepreneurial path.
How much you can make: $50 — $125,000/month
How much does it cost to start: $900 (?)
How long does it take to build: 105 days (?)
PlanIt is a travel recommendation and planning platform that has seen compelling growth in database coverage and user growth, covering every country in the world with several thousand users and a large SEO focus as well as a growing interest from travel and lifestyle businesses to list their details.
8. Make passive income with a mobile app ($70.3K/month)
As an IT procurement specialist, you could leverage your industry knowledge to identify gaps and inefficiencies that can be addressed with a mobile app. By turning these insights into a viable app idea, you could create a tool that streamlines processes, making it a valuable addition to other professionals in your field. Whether it's a productivity tool that helps track procurement tasks or an app that simplifies vendor management, your expertise gives you a unique edge.
Developing a mobile app may seem daunting, but with a clear vision and the right approach, it's entirely manageable. You could start by planning the user experience and designing intuitive interfaces. If coding isn't your strong suit, hiring a skilled developer can bring your idea to life. Once developed, effective marketing will be key to attracting users and driving downloads, potentially turning your app into a lucrative source of passive income.
Mobile apps have become an essential part of everyday life, which means there's considerable potential for success. If you have an idea that solves a problem for your industry or offers entertainment, you could stand out in the crowded app marketplace. With dedication and strategic planning, your app could gain traction and lead to substantial financial rewards.
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.
9. Make passive income with an ecommerce reselling business ($83.3K/month)
As an IT procurement specialist, you could leverage your expertise in sourcing and acquiring products by starting an ecommerce reselling business. You already have the skills to identify good deals and understand market trends, which are essential for finding popular items to resell. This is a fantastic way to launch an online business without worrying about production costs since you only purchase goods for resale.
You could start small and build your business on social media platforms, bypassing the initial need for a dedicated website. As your reselling business grows, you might choose to create a website to reach more customers. This approach allows you to gradually enter the world of ecommerce and supplement your income efficiently.
How much you can make: $4,000 — $150,000/month
How much does it cost to start: $2,999 (?)
How long does it take to build: 75 days (?)
Empyre Off-Road, an e-commerce business founded by Greg Shuey which sells aftermarket parts for Toyota Tacomas, Tundras, and 4Runners, generated approximately $100,000 a month in revenue and was able to expand its product offering, focusing on content marketing, email marketing campaigns, and organic social media to attract and retain customers.
10. Make passive income with an online course sales business ($85K/month)
As an IT procurement specialist, you could leverage your industry knowledge to create and sell online courses. This could include subjects like contract negotiation, vendor management, or software procurement strategies. By sharing your expertise, you could help others advance in their careers while generating passive income for yourself.
Creating an online course doesn’t require advanced technical skills; you just need a laptop, a microphone, and some software to record your lessons. The e-learning market is booming and expected to reach over $645 billion in the coming years, providing a substantial opportunity for extra income. By setting up your course and using a platform to sell it, you could make money even while you sleep.
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.
11. Make passive income with a niche blog ($31.5K/month)
Starting a niche blog could be an excellent way for you as an IT procurement specialist to supplement your income and share your unique expertise. You could focus on areas like software procurement, cost-saving strategies, supplier evaluations, or the latest trends in tech purchases. Given your specialized knowledge, your blog would attract readers interested in making informed decisions about IT procurement.
By creating how-to guides, top product lists, and expert commentary, you could build a loyal audience. To monetize your blog, you could provide affiliate links to products or services you recommend, collaborate with relevant tech brands for sponsored content, or even expand into video tutorials and interviews by growing a YouTube channel. With your passion for the topic and regular engagement with your followers, you could turn this blogging venture into a steady passive income stream.
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.
12. Make passive income with an affiliate marketing business ($77.5K/month)
As an IT procurement specialist, you have a unique insight into the tech products and services that companies need. By starting an affiliate marketing business, you could leverage your expertise to promote relevant products and services to other IT professionals and decision-makers. This could involve partnering with tech manufacturers or eCommerce stores and earning commissions for every sale your recommendations generate.
With your industry knowledge, you know what solutions are reliable and necessary, which makes you a credible source of recommendations. You could start a blog, create social media content, or even write detailed reviews to share your insights. This way, you could build a passive income stream while helping others make informed purchasing decisions.
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.
13. Make passive income with a niche website ($107K/month)
As an IT procurement specialist, starting a niche website could be a smart way to supplement your income and tap into your industry expertise. You could build a site focused on IT procurement best practices, tools, and trends. By sharing your knowledge, you attract a dedicated audience interested in the same field.
Creating compelling content such as blog posts, how-to guides, and product reviews could drive traffic to your site. Once established, you could monetize it through affiliate marketing, placing ads, or selling digital products like eBooks or online courses. This venture not only uses your existing skills but also has the potential to become a steady source of passive income over time.
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.
14. Make passive income with a dropshipping business ($414K/month)
As an IT procurement specialist, you possess the skills to evaluate and select suppliers, which could be a great asset when starting a dropshipping business. You could leverage your ability to assess cost-effective and reliable suppliers from platforms like AliExpress, ensuring that you choose quality products for your online store. Your background in negotiating and managing vendor relationships might also help you secure better deals and build trustworthy connections with third-party suppliers.
In setting up your dropshipping venture, you could easily navigate the digital tools and platforms, such as Shopify or WooCommerce, thanks to your tech-savvy nature. You'd also excel in analyzing data to track sales, manage expenses, and monitor profit margins, making strategic adjustments to maximize your earnings. By focusing on a specific product niche and employing strong marketing and customer service skills, you could build a sustainable passive income stream alongside your main career.
How much you can make: $6,000 — $3,000,000/month
How much does it cost to start: $8,500 (?)
How long does it take to build: 90 days (?)
Time commitment per week: Min. 10 hours/week
Entrepreneur Kamil Sattar has developed multiple six-figure drop shipping businesses, and his company, e-commerce mentoring, specializes in helping others create their own successful companies, with favorite platforms including using Shopify and apps such as Loox reviews and SMSBump.
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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.
