14 Passive Income Ideas For Product Managers [2024]
Interested in earning passive income as a product manager in 2024?
We put together a few of the best passive income ideas you can start as a product 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 product manager.
Here's the full list:
1. Make passive income with a podcast ($97.9K/month)
As a product manager, starting a podcast could be an exciting way to share your industry knowledge and insights while potentially earning passive income. Podcasts are a popular medium for entertainment and information, so you could create content that delves into product management topics, shares career advice, or discusses the latest trends and technologies. Your unique experiences and professional network could attract a dedicated audience interested in your niche.
To get started, you could select a specific focus for your podcast that you’re passionate about and that resonates with potential listeners. Basic recording equipment, like a microphone and headphones, and an affordable hosting platform are all you need initially. By promoting your podcast through social media and online communities, you could grow your audience and open up opportunities for sponsorships or advertising, gradually 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.
2. Make passive income with an email marketing tool ($992K/month)
As a product manager, you could leverage your skills in creating an email marketing tool to generate passive income. Given that email marketing remains one of the most effective marketing channels, there's a significant opportunity to tap into a growing market projected to reach $2.53 billion by 2028. By creating software that helps businesses automate and manage their email campaigns, you could attract a wide range of customers, from startups to real estate agents.
Starting an email marketing tool business is straightforward: you would need to secure a domain and hosting account. Your expertise in product management would be invaluable in identifying user needs, designing intuitive interfaces, and iterating on user feedback to make your tool indispensable to entrepreneurs and small business owners. This approach not only allows you to supplement your income but also positions you to capitalize on the increasing demand for effective email marketing solutions.
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.
3. Make passive income with an ai based business solution ($55.8K/month)
If you're a product manager looking to diversify your income, starting an AI-based business solution could be a promising avenue to explore. By leveraging artificial intelligence, you could optimize various business processes such as customer service, inventory management, and data analysis, making them more efficient and cost-effective. The added benefit is that AI can help automate repetitive tasks, provide valuable customer insights, and predict market trends with surprising accuracy.
Even if you lack a tech background, many AI platforms come with user-friendly interfaces and strong support, making it accessible for beginners. The growing demand for AI solutions offers a lucrative market, providing a competitive edge for businesses that implement these technologies effectively. With careful planning and a focus on high-impact areas, this could be a strategic move to not only supplement your income but also innovate in your current role.
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 mobile app ($70.3K/month)
As a product manager, you could leverage your skills to create and launch a mobile app. With your experience in planning, designing, and managing projects, you are well-positioned to identify a unique market need and develop an app that addresses it. Whether it's a productivity tool, a niche utility, or even a simple game, your expertise could guide the development process, helping you create a user-friendly and engaging product.
Starting a mobile app business doesn’t always require in-depth coding knowledge. You could collaborate with developers to bring your vision to life or even learn some basic coding yourself. The app market offers huge potential for passive income, as an innovative app that meets user needs could gain significant traction and generate substantial revenue over time.
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.
5. Make passive income with a lead generation tool ($108K/month)
As a product manager, you could develop a lead generation tool to help businesses find new customers more efficiently. This tool would automate the often tedious process of identifying and capturing potential leads by integrating with websites, social media channels, and other digital touchpoints to gather valuable data like email addresses and interests. By automating this process, companies could focus more on converting leads rather than finding them.
Given your skills in tech and marketing, creating such a tool could be a profitable venture. The demand for efficient lead generation is high, as businesses of all sizes are keen to streamline their marketing efforts. Developing a lead generation tool could not only supplement your income but also open up new opportunities for passive earnings as more businesses seek to grow their customer base.
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.
6. Make passive income with an online course sales business ($85K/month)
As a product manager, you could leverage your expertise and experience to create and sell online courses. If you're passionate about certain aspects of product management, like agile methodologies, user research, or road mapping, there's a good chance others would find your insights valuable. This allows you to supplement your income by sharing what you know and love.
In the rapidly growing e-learning market, expected to be worth over $645 billion soon, crafting an online course could turn into a significant passive income stream. You simply need to identify a target audience, design a quality course, and select an online learning platform to host your content. By taking these steps, you can create a sustainable side hustle that supplements your current career.
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.
7. Make passive income with a niche blog ($31.5K/month)
As a product manager, starting a niche blog could be an excellent way to share your expertise and insights on specific topics you're passionate about. By focusing on an underserved niche such as product management techniques, tools, or industry trends, you could attract a dedicated following interested in your unique perspective and practical advice.
You could create and share a variety of content, including how-to guides, product reviews, industry news, and interviews with other professionals. Over time, your blog could become a go-to resource for others in your field, opening up opportunities to monetize through affiliate links, collaborations with brands, or even speaking engagements.
Additionally, maintaining a niche blog allows you to build a personal brand and expand your professional network, potentially leading to more career opportunities and 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.
8. Make passive income with a wordpress plugin business ($33.4K/month)
Starting a WordPress plugin business could be a great way for you to make extra money as a product manager. Given your experience in identifying user needs and crafting effective solutions, you could develop plugins that address specific issues or enhance functionality for WordPress websites.
With your skills in project management and user experience, you could create high-quality plugins that meet the market's needs and sell them on platforms like CodeCanyon, your blog, or through a dedicated website. This opportunity allows you to leverage your existing expertise while generating passive income as people buy and use your plugins over time.
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.
9. Make passive income with a niche website ($107K/month)
If you're a product manager looking for a focused online business that offers both creative freedom and potential revenue, consider building a niche website. This involves selecting a specialized topic you’re passionate about and knowledgeable in, creating compelling content around it, and driving traffic to your site. You'll need to invest time in researching your niche, developing content, and applying SEO strategies to attract and retain a dedicated audience.
Once your niche website gains traction, there are multiple ways you could monetize it. Whether through affiliate marketing, ad placements, or selling digital products, your specialized content could generate income. Over time, a well-established niche website could become a reliable source of passive income, freeing up your future time and energy while still supplementing your income. If you have a specific interest and the drive to explore it deeply, starting a niche website could be an exciting and profitable side project.
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 an AI writing tool ($255K/month)
As a product manager looking to supplement your income, developing an AI writing tool could be an exciting and profitable venture. You could leverage your skills in managing projects and understanding market needs to create a tool that helps businesses, bloggers, and students produce high-quality content effortlessly. The tool could save users time and reduce errors, making their writing process more efficient and productive.
Given the constant demand for engaging and accurate content, an AI writing tool stands out as a practical solution. By creating this tool, you could address a significant pain point in various industries, tapping into a wide market and offering value to a broad user base. This entrepreneurial step could open new avenues for you while making a notable impact in the digital 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.
11. Make passive income with a cold email service business ($170K/month)
As a product manager, you could start a cold email service business to leverage your strategic mindset and attention to detail. By crafting and sending targeted email campaigns, you could help businesses reach new clients directly, positioning yourself as an essential service provider. This venture involves writing compelling emails, analyzing client needs, and tracking metrics like open rates and conversions.
Starting small with local businesses in need of lead generation, you could easily scale your business as your success stories grow. Your familiarity with marketing tools and your ability to engage through words positions you perfectly to manage and potentially automate this service. This opportunity combines marketing skills with technical knowhow, ensuring a consistent demand for your expertise.
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.
12. Make passive income with a social media automation business ($139K/month)
As a product manager, you could leverage your skills to start a social media automation business, effortlessly managing multiple social media accounts while driving engagement and growth. This involves creating tools and services to schedule posts, automate interactions, and analyze data across various platforms, which your clients—from small businesses to influencers—would pay for to save time and enhance their social media presence.
Given the increasing need for consistent and strategic social media engagement, there's significant demand for automation. You could focus on developing or integrating software solutions, staying updated on social media trends, and building relationships with clients to tailor services to their needs. With your expertise in technology and an eye for marketing, starting a social media automation business could be a lucrative and fulfilling side venture.
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.
13. Make passive income with a YouTube channel ($72.1K/month)
Starting a YouTube channel could be a great way for you as a product manager to share your expertise while earning passive income. You could create engaging content that delves into product management strategies, teaches project management tools, or offers career advice for aspiring product managers. These videos could attract a wide audience and open revenue streams through ads, sponsorships, and even branded merchandise.
To make your channel successful, you’ll need to consistently produce high-quality videos and actively engage with viewers. Leveraging your skills in planning and strategy will come in handy when creating content calendars and optimizing videos for SEO. While it requires effort and dedication, the financial and personal rewards from a thriving YouTube channel could make it well worth it for you.
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.
14. Make passive income with an affiliate marketing business ($77.5K/month)
As a product manager, you could leverage your understanding of products and market dynamics to excel in affiliate marketing. By promoting products and services that align with your professional knowledge, you could provide insightful recommendations to potential buyers and earn commission on each sale made through your referral links.
You could start by researching suitable brands and products that resonate with your expertise and target audience. For instance, you might partner with an eCommerce store or a manufacturer whose offerings you trust and believe in. This way, you could create a reliable stream of passive income while utilizing your existing skills and knowledge in a new and entrepreneurial way.
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.
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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.
