Passive Income Ideas For It Vendor Managers [2024]
Interested in earning passive income as a IT vendor manager in 2024?
We put together a few of the best passive income ideas you can start as a IT vendor 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 vendor manager.
Here's the full list:
1. Make passive income with an email marketing tool ($992K/month)
As an IT vendor manager, you could leverage your expertise in vendor management and technology to create and run an email marketing tool. This tool will help businesses automate their email campaigns and easily reach their audience, allowing you to tap into a rapidly growing market that is expected to reach $2.53 billion by 2028.
Launching an email marketing tool can provide a steady stream of passive income from subscription fees. You could also benefit from your existing network by offering specialized features tailored to the needs of your clients and contacts in various industries. With initial steps like buying a domain and hosting account being relatively simple, you could soon find yourself running a practical and profitable side business.
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 based business solution ($55.8K/month)
As an IT vendor manager, you could consider launching an AI-based business solution to supplement your income, capitalize on your industry knowledge, and leverage cutting-edge technology. By offering AI tools that streamline processes like customer service or inventory management, you could help businesses become more efficient and reduce operational costs. This can make your solution attractive to potential clients, giving you a competitive edge in the market.
With AI, the possibilities are vast—you could develop software that automates repetitive tasks or provides insightful data analysis. Even without a deep technical background, user-friendly platforms exist to support your venture, helping you focus on high-impact areas and business strategies. The growing demand for AI solutions means a significant opportunity to tap into a lucrative market and earn passive income while driving innovation in your field.
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 AI writing tool ($255K/month)
As an IT vendor manager, you could supplement your income by creating an AI writing tool that leverages your expertise in technology and vendor coordination. This tool would help businesses, bloggers, and students easily generate accurate and engaging content, addressing the growing demand for quality writing in today's fast-paced digital world.
Your background in managing technology vendors positions you well to navigate the technical and business aspects of this venture, ensuring that the AI tool is both functional and marketable. This enterprise could not only ease the workload for writers but also provide you with steady, passive income as more users subscribe to and use your tool. Imagine embarking on a journey that not only enhances your financial portfolio but also makes a significant impact on content creation globally.
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.
4. Make passive income with a lead generation tool ($108K/month)
As an IT vendor manager, you could leverage your expertise in tech solutions to develop a lead generation tool, making it easier for businesses to find potential customers. This tool could automate the time-consuming task of identifying leads, allowing companies to focus on converting them into paying clients instead. By integrating with websites and social media platforms, your tool could gather crucial data like email addresses and interests, providing businesses with valuable insights into their target market.
The high demand for effective lead generation tools means that businesses of all sizes are eager to streamline their marketing efforts. If you're tech-savvy and interested in the marketing landscape, starting a lead generation tool could be a profitable side venture. With your background in managing vendor relationships, you already have a foot in the door to make connections and pitch your tool to potential clients.
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 vendor manager, you could leverage your expertise in managing technological tools and systems to start a social media automation business. By creating or integrating software that schedules posts, automates interactions, and analyzes engagement data, you could help small businesses and influencers save time while effectively growing their online presence.
This business idea taps into the growing demand for consistent social media engagement, allowing you to build on your existing skills in technology and client management. You could also keep yourself updated on social media trends and customize your services to meet the unique needs of each client, making it a potentially 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)
As an IT vendor manager, you already have a knack for building relationships and understanding client needs. Starting a cold email service business could allow you to leverage these skills in a new, potentially lucrative area. By helping companies reach new clients directly via email, you could offer a valuable service without needing to change careers entirely.
You would need to be good at writing compelling emails and familiar with using email marketing tools to track metrics like open rates and conversions. With your strategic mindset, you could start by working with small businesses that need help generating leads. As you build your portfolio and gather success stories, you could easily scale up and attract larger clients.
Overall, a cold email service business combines your existing expertise with a practical new skill set, creating a side hustle that is both manageable and rewarding. This could offer you the opportunity to earn extra income while still excelling in your current role.
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 wordpress plugin business ($33.4K/month)
As an IT vendor manager, you could leverage your understanding of technology to start a WordPress plugin business. Given your experience in managing IT solutions and vendors, you likely have insights into common pain points and inefficiencies that businesses face. You could create plugins that address these issues, helping website owners solve specific problems more effectively.
Starting a WordPress plugin business allows you to generate passive income by selling your plugins on platforms like CodeCanyon or your own website. By focusing on a particular need, you could create highly valuable plugins that attract a steady stream of customers, supplementing your current income and providing financial stability. This venture would enable you to utilize your technical skills creatively and entrepreneurially.
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.
8. Make passive income with a mobile app ($70.3K/month)
As an IT vendor manager, you might have identified gaps or inefficiencies in the tools and processes you oversee. You could turn these insights into a mobile app that provides solutions, whether it’s enhancing vendor management, streamlining communication, or offering better reporting tools. Your industry knowledge gives you a unique advantage in understanding what features would be valuable to users in similar roles.
Starting a mobile app doesn’t necessarily require advanced coding skills. You could hire a skilled developer to bring your vision to life. Focus on planning out a user-friendly experience and ensuring your app performs well during testing. With effective marketing, your app could reach a wide audience and become a source of passive income, generating revenue through ads, in-app purchases, or subscription models.
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 online course sales business ($85K/month)
As an IT vendor manager, you could leverage your deep industry knowledge by creating online courses that teach others about vendor management, procurement strategies, or even IT-related topics. With countless businesses seeking ways to improve their vendor relationships, you could provide valuable insights that help others succeed, turning your expertise into a steady stream of passive income.
Creating an online course is simple and requires just a few steps: choose your target audience, create engaging content, and select an online learning platform to host your course. With the e-learning market projected to reach over $645 billion, this is a great time to share your knowledge and potentially earn extra money.
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.
10. Make passive income with an affiliate marketing business ($77.5K/month)
As an IT vendor manager, you could leverage your industry knowledge to start an affiliate marketing business. By promoting products and services relevant to the tech sector, like software tools, hardware, or even cloud services, you could earn a commission for each sale made through your unique affiliate links. This aligns well with your existing expertise and network within the IT industry, making it easier to identify the right products and brands to partner with.
For example, you could choose to promote eCommerce stores or become an affiliate for manufacturers whose products you are already familiar with. By sharing insights and recommendations through online platforms, blogs, or social media, you could create a steady source of passive income while continuing your regular job responsibilities. It’s a practical way to monetize your knowledge and connections in the tech world without significant upfront investment.
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 podcast ($97.9K/month)
As an IT vendor manager, starting a podcast could be a great way to share your industry insights, tips, and best practices, potentially attracting a dedicated audience. You could focus your podcast on topics like vendor management strategies, technology trends, or effective communication with suppliers. By providing valuable content regularly, you may attract listeners who find your expertise useful and engaging.
Getting started doesn't have to be expensive or complicated. You could begin by choosing a niche you’re passionate about that aligns with your professional experience and then invest in basic recording equipment like a microphone and headphones. By using affordable hosting platforms and promoting your podcast through social media and online communities, you could gradually build an audience.
As your podcast grows, there could be opportunities to monetize through sponsorships or advertising, offering you a potential stream of passive income. Plus, sharing your knowledge could also establish you as a thought leader in the field, possibly leading to new career opportunities.
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.
12. Make passive income with a niche website ($107K/month)
As an IT vendor manager, you could leverage your industry expertise by starting a niche website focusing on IT vendor management best practices, tools, and trends. By sharing your knowledge through articles, tutorials, and reviews, you'll be able to attract a dedicated audience of professionals in your field who are seeking reliable information.
This venture could also offer several monetization opportunities. You could earn extra money through affiliate marketing by recommending relevant tools and software, place ads related to IT services, or even create and sell digital products like eBooks and online courses. With some initial effort in content generation and SEO, your niche website could evolve into a consistent passive income source.
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.
13. Make passive income with a niche blog ($31.5K/month)
As an IT vendor manager, you could start a niche blog focusing on your expertise in managing vendor relationships, streamlining processes, and implementing efficient IT solutions. This would allow you to share your insights and experiences with a passionate online community, offering practical advice through articles, how-to guides, and top product lists.
By creating unique and informative content, you could attract a dedicated audience interested in IT vendor management. You could monetize your blog by incorporating affiliate links to relevant products, collaborating with IT brands, and eventually speaking at industry events. By consistently engaging with your readers and providing valuable content, your niche blog could become a steady source of passive income.
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.
14. Make passive income with a YouTube channel ($72.1K/month)
Starting a YouTube channel could be a great way for you to supplement your income as an IT vendor manager. With your unique position, you have the knowledge and experience to create valuable content such as how-to guides, product reviews, and industry insights that could attract a dedicated following.
By sharing your expertise, you could earn money through ad revenue, sponsorships, and even selling branded merchandise. As long as you are consistent with your content and interact with your audience, your channel could grow and lead to substantial passive income over time. This not only provides a creative outlet but also leverages your existing skills in a new and profitable way.
How much you can make: $2,000 — $333,333/month
How much does it cost to start: $5,250 (?)
How long does it take to build: 30 days (?)
This case study follows the journey of a young entrepreneur from Nigeria who started a profitable blog generating a monthly revenue of $1,500+ through sales of advertising space, sponsored posts, and information products, and shares his strategies for success including a Twitter growth challenge and guest post pitches.
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.
