Passive Income Ideas For It Risk Managers [2024]

Pat Walls

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Updated: September 21st, 2024

Interested in earning passive income as a IT risk manager in 2024?

We put together a few of the best passive income ideas you can start as a IT risk 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 risk manager.

Here's the full list:

1. Make passive income with a marketing reporting software

As an IT risk manager, you possess a keen understanding of data integrity and system reliability, making you well-suited to develop marketing reporting software. This kind of software helps businesses track the performance of their marketing campaigns by providing clear, comprehensive reports on metrics like engagement rates, conversion rates, and ROI. By leveraging your expertise, you could create a valuable tool that simplifies these complex data tasks, allowing businesses to make smarter, data-driven decisions.

Venturing into this space not only allows you to supplement your income but also enables you to apply your skills in a new domain with high potential for impact. Given that businesses constantly seek ways to optimize their marketing efforts, your software could become an indispensable asset, resulting in consistent, passive income as companies subscribe to use your solution. Plus, your background in IT risk management ensures that your product maintains high standards for data security and system reliability—important factors for any business handling sensitive customer data.

2. Make passive income with an email marketing tool ($992K/month)

As an IT risk manager, you could supplement your income by developing an email marketing tool. Given your expertise in risk management and information technology, creating software that helps businesses automate email campaigns would be a natural fit. Email marketing is a booming industry, expected to reach $2.53B in market size by 2028, making it a viable and lucrative venture.

By leveraging your skillset, you could design an email tool that not only helps businesses generate leads and increase sales but also ensures robust security measures. This is a critical selling point, especially for companies concerned about data privacy and compliance. Starting an email marketing tool business might begin with something as straightforward as buying a domain and hosting account, but your IT risk management background will allow you to develop a highly specialized and secure product.

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 (?)

I Built A SEO Tool That's Completely Free For Users [From Lebanon]

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.

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3. Make passive income with an ai based business solution ($55.8K/month)

As an IT risk manager, you could explore starting an AI-based business solution to supplement your income. By leveraging your expertise in risk assessment and management, you could offer AI solutions that enhance efficiency and reduce costs in areas like customer service, inventory management, and data analysis. Many AI platforms now come with user-friendly interfaces, making it accessible even if you don’t have an extensive tech background.

The demand for AI solutions is growing rapidly, offering a significant market opportunity. You could create automated systems that predict market trends, provide valuable customer insights, and optimize business processes, helping companies make better data-driven decisions. By focusing on high-impact areas and having a solid implementation plan, your venture into AI-based solutions could be a strategic move to tap into this expanding market and boost your income.

How much you can make: $4,000 — $120,000/month

How long does it take to build: 125 days (?)

How We Launched A $120K/Month Audiobook Publishing Course

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.

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4. Make passive income with an AI writing tool ($255K/month)

As an IT risk manager, venturing into the creation of an AI writing tool could open up lucrative opportunities for passive income while leveraging your existing knowledge of technology and risk management. With your expertise, you could ensure that the tool is both secure and compliant with data privacy regulations, which is crucial for gaining users' trust. This engagement with cutting-edge technology meets a high demand for automated, error-free, and efficient content creation, catering to businesses, bloggers, and students alike.

The AI writing tool could generate income through various monetization strategies such as subscription models or one-time purchases, offering a steady stream of revenue with minimal ongoing effort. By creating a solution that addresses the need for constant, quality content, you could transform the writing landscape, making it more accessible and efficient for users. This innovative project could not only supplement your income but also allow you to make a significant impact on the digital content industry.

How much you can make: $4,000 — $1,000,000/month

How long does it take to build: 52 days (?)

I Built A Simple AI Writing Tool That Makes $60K/Year

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.

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Read by 6,768 founders

5. Make passive income with a lead generation tool ($108K/month)

As an IT risk manager, you could leverage your technical skills and familiarity with data security to develop a lead generation tool. This tool would automatically gather potential customer data such as email addresses and phone numbers from various digital channels, streamlining the client-acquisition process for businesses. By doing so, you could create a steady stream of passive income while helping companies efficiently identify and focus on converting high-quality leads.

Given your existing IT expertise, you could ensure that the lead generation tool adheres to strict data protection regulations, making it trustworthy and reliable. This could position your tool as a preferred choice in a market that values both efficiency and security. If you have an entrepreneurial mindset and an interest in marketing, this venture could open up new revenue opportunities seamlessly aligned with your current skill set.

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 (?)

How I Created A $5M/Year LinkedIn Marketing Automation Tool

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.

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Read by 8,923 founders

As an IT risk manager, leveraging your technical expertise and analytical skills to start a social media automation business could be a smart move. In this venture, you could create tools and services that help businesses and influencers manage their social media accounts more efficiently. This involves scheduling posts, automating responses, and analyzing engagement data, allowing your clients to focus more on their content and less on the administrative tasks.

You could use your knowledge of software development and data analysis to build reliable automation solutions that clients can trust. Moreover, staying up-to-date with the latest social media trends and tailoring your services to meet client needs could set you apart in a crowded market. This business not only has a significant demand but could also be a lucrative side hustle that complements your skills perfectly.

How much you can make: $4,000 — $400,000/month

How long does it take to build: 50 days (?)

How I Bootstrapped A Social Media Automation Tool To $2MM/Year

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.

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Read by 15,250 founders

7. Make passive income with a wordpress plugin business ($33.4K/month)

Starting a WordPress plugin business could be a natural fit for an IT risk manager due to your understanding of technical solutions and problem-solving skills. If you’ve identified common security issues or operational inefficiencies that many websites face, you could develop a plugin that addresses these problems. Creating and selling these plugins could provide a steady stream of passive income, especially if your plugins cater to specific, high-demand needs.

You could market these plugins on platforms like CodeCanyon, your blog, or even a dedicated website. The initial time investment in developing the plugin could pay off in the long run as more users download and install your solution. This business model lets you leverage your expertise to create valuable products that generate ongoing revenue.

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

How I Coded A Website Plugin Making $600 Per Month

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.

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Read by 18,985 founders

8. Make passive income with a mobile app ($70.3K/month)

As an IT risk manager, you could leverage your technical skills and industry knowledge to create a mobile app that addresses common issues within your field. For instance, an app that helps companies assess and manage IT risks more efficiently could be a valuable asset to many organizations. This venture would allow you to channel your expertise into a product that can generate passive income through app sales or subscriptions.

Developing an app doesn't mean you have to be a coding expert; you could hire a developer to bring your vision to life. Your primary role would involve planning the user experience, designing engaging and functional interfaces, and ensuring the app operates smoothly. With the growing reliance on mobile apps in both personal and professional settings, your app has the potential to reach a broad audience and create substantial revenue opportunities.

How much you can make: $1 — $500,000/month

How long does it take to build: 180 days (?)

We Started A $6M/Year Bachelorette Party App

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.

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Read by 11,017 founders