Passive Income Ideas For Solutions Consultants [2024]
Interested in earning passive income as a solutions consultant in 2024?
We put together a few of the best passive income ideas you can start as a solutions consultant 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 solutions consultant.
Here's the full list:
1. Make passive income with an email marketing tool ($992K/month)
As a solutions consultant, you could leverage your experience in problem-solving and technology to create an email marketing tool. Your deep understanding of client needs and business processes could guide you in designing a tool that addresses the specific pain points your clients face with their email campaigns. This unique perspective could set your tool apart in a rapidly growing market projected to reach $2.53 billion by 2028.
By starting an email marketing tool, you could generate passive income through subscription fees from users. Additionally, your consulting skills could help you identify opportunities for value-added features that customers would be willing to pay extra for, increasing your overall revenue. Given that email marketing is one of the most effective channels for lead generation and customer engagement, your tool could attract a wide audience, including entrepreneurs, startups, and real estate agents, further increasing your potential earnings.
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 a social media automation business ($139K/month)
As a solutions consultant, you could easily translate your problem-solving skills into a social media automation business. Imagine managing multiple social media accounts effortlessly while driving engagement and growth for various clients. This involves creating tools and services to schedule posts, automate interactions, and analyze data across different platforms.
Your clients, from small businesses to influencers, would pay you to save them time and boost their social media presence. Given the high demand for consistent and strategic social media engagement, this could turn into a steady stream of passive income. By leveraging your knack for technology and understanding of business needs, you could build tailored solutions and foster long-term client relationships.
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.
3. Make passive income with an ai based business solution ($55.8K/month)
As a solutions consultant, you could consider starting an AI-based business solution to supplement your income and tap into the expanding market for smart technologies. An AI-based business automates repetitive tasks and provides valuable insights, making it easier for companies to manage customer service, inventory, and data analysis efficiently. This could be particularly appealing to businesses looking to reduce costs and make better decisions without a hefty investment in technology know-how.
Even if you don’t have a tech background, many AI platforms are designed with user-friendly interfaces and offer robust support. With demand for AI solutions growing rapidly, a well-implemented AI tool could provide significant competitive advantages to your clients. This makes it a promising avenue for enhancing your entrepreneurial portfolio while leveraging your expertise in optimizing business processes.
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)
Starting a lead generation tool could make perfect sense for a solutions consultant looking to supplement their income. This business idea involves creating software that helps companies find and gather potential customer leads, easing the often laborious process of client acquisition. By automating the identification and capture of new client data, such as email addresses and interests, businesses can focus more on converting these leads into actual sales.
For a solutions consultant, this aligns well with your expertise in problem-solving and technology. You could leverage your knowledge to integrate the tool with websites, social media channels, and other digital platforms, helping businesses streamline their marketing efforts. With the high demand for efficient lead generation, developing a tool like this could become a profitable entrepreneurial venture.
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 niche blog ($31.5K/month)
As a solutions consultant, you could start a niche blog to share your deep knowledge and insights on specific tools and technologies you work with daily. By identifying an area you're both passionate and experienced in, such as a particular software solution, you could provide valuable content like how-to guides, product reviews, and industry trends. This would allow you to engage with like-minded professionals and create a loyal audience.
To make money from your blog, you could include affiliate links to products you recommend, partner with relevant brands for sponsored content, or even grow a YouTube channel to expand your reach. With regular updates and engaging articles, you'll steadily build an audience, increasing your blog's value over time.
Ultimately, starting a niche blog allows you to turn your subject matter expertise into a passive income stream while building your personal brand in the industry. This could open up new opportunities, like speaking at conferences or consulting gigs, further supplementing your 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.
6. Make passive income with a YouTube channel ($72.1K/month)
As a solutions consultant, you could start a YouTube channel to share your expertise and insights into industry best practices, troubleshooting tips, and software solutions. This platform offers a unique opportunity to build a library of helpful content that can draw in viewers who are interested in your field. Over time, your channel could generate revenue through ads, sponsorships, and even selling products or services related to your content.
Creating a YouTube channel does involve commitment. You’ll need to regularly plan and create engaging videos, manage editing, and interact with your audience. However, the effort you put in could pay off significantly as your channel grows and gains more followers. If you’re passionate about sharing your knowledge and willing to invest some time, starting a YouTube channel could be a rewarding side hustle.
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.
7. Make passive income with a stock investing business ($30.3K/month)
As a solutions consultant, starting a stock investing business could be a practical way to supplement your income. Given your analytical skills and familiarity with problem-solving, you could find it quite manageable to analyze market trends and make informed investment decisions. By leveraging educational resources and trading platforms, you can gain the necessary knowledge to navigate the financial markets effectively.
Stock investing offers the potential for high returns, although it requires continuous learning and a strategic approach. Your background in providing tailored solutions to client problems might give you an edge in creating sound investment strategies and managing risks. If you have an interest in finance and are willing to commit some time to learning the intricacies of the market, a stock investing business could be a fulfilling and profitable entrepreneurial venture.
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.
8. Make passive income with a real estate investment firm ($398K/month)
As a solutions consultant, you could find starting a real estate investment firm to be an effective way to supplement your income and build wealth. The core activities, such as scouting for valuable properties, negotiating deals, and managing renovations, align well with the problem-solving and strategic planning skills you already possess. Your knack for identifying opportunities and assessing risks can be directly applicable to making informed real estate investments.
Investing in properties like homes, commercial buildings, or even vacant land offers the potential for significant appreciation over time. Additionally, rental properties could provide a steady income stream, offering financial stability and eventual passive income. By leveraging your analytical skills and commitment to thorough market research, you could excel in this new venture and achieve impressive financial returns.
Starting a real estate investment firm might require some initial learning and setup, but it positions you well to tap into the lucrative profit potential of the real estate market. With diligent planning and a strategic approach, your entrepreneurial mindset could lead to success and substantial monetary benefits in the long run.
How much you can make: $10,000 — $1,500,000/month
How long does it take to build: 210 days (?)
Equity Residences is a luxury real estate investment fund that has raised $40 million from over 200 investors, offering them access to a portfolio of luxury vacation homes for investment and personal use, with a minimum investment of $161,500 and plans to acquire a further twenty residences ranging from $1.5M to $4M.
9. Make passive income with an affiliate marketing business ($77.5K/month)
As a solutions consultant, you could consider starting an affiliate marketing business to supplement your income. Since your role often involves recommending products and solutions to clients, you already have the expertise and credibility that can be leveraged to promote relevant products. By partnering with companies that offer tools and software solutions, you are familiar with, you could earn commissions for recommending these products to your professional network.
Getting started is straightforward. You could focus on finding products that align with the solutions you typically recommend in your consultancy work. For example, if you often suggest specific software or tools to your clients, you could become an affiliate for those brands and earn a commission on each sale made through your recommendation.
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.
10. Make passive income with an online course sales business ($85K/month)
As a solutions consultant, you could supplement your income by starting an online course sales business. You have specialized knowledge and problem-solving skills that others find valuable, so creating courses that teach these skills could be a great way to make extra money. Whether it's about implementing software solutions, optimizing workflows, or improving client communication, your expertise could be transformed into engaging and educational content.
By choosing a target audience that aligns with your professional insights and using a suitable online learning platform, you could easily reach people eager to learn from your experience. The e-learning market is projected to grow significantly, making it a timely opportunity for you to dive in. With the right approach, your online courses could become a steady stream of passive income, allowing you to share your knowledge while boosting your earnings.
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 podcast ($97.9K/month)
As a solutions consultant, you could leverage your expertise by starting a podcast focused on industry insights, problem-solving techniques, and the latest trends in consulting. Discussing case studies, challenges, and innovative solutions can attract a dedicated audience interested in your field. This not only helps reinforce your personal brand but could make you a trusted authority in the consulting community.
Starting a podcast can be budget-friendly; with basic recording equipment like a microphone and headphones and a free or affordable hosting platform, you could easily create and publish your episodes. Promoting your podcast through social media and online communities can help grow your audience. Over time, as your listener base expands, you could attract sponsors or advertisers, providing a steady stream 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.
12. Make passive income with a mobile app ($70.3K/month)
As a solutions consultant, you have a knack for identifying problems and crafting effective solutions. This skill can translate well into creating a mobile app. You could take one of the common challenges you encounter in your work and turn it into a mobile app that simplifies tasks for your clients or addresses a specific need in your industry.
Starting a mobile app business might require you to learn some basic coding or partner with a developer. Planning the user experience and designing an engaging interface will be crucial steps. If successfully developed and marketed, your app could become a valuable tool for professionals in your field, providing passive income while helping others solve their problems more efficiently.
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.
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.
