Side Business Ideas For Software Engineers – Maybe you want to experience the freedom of simply having enough money to never have to worry about finances or losing your job again.
The reasons why you might want additional income to your salary are many and vary from person to person.
Side Business Ideas For Software Engineers
In this article, I will share with you some side income ideas that will help you increase your income without quitting your full-time job.
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It’s a very simple thing. You will receive the salary in your bank account. You spend part of it and save the rest.
As long as you spend less than you earn, your net worth will gradually increase over time.
The problem is that leaving cash in your bank account isn’t ideal because idle cash doesn’t generate any returns.
If you just started your programming career right out of college, you probably don’t know much about investing in the stock market.
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Here is a beginner’s guide that will teach you everything you need to learn about investing in the stock market.
To be clear, I’m not talking about day trading and spending all your free time buying and selling stocks! That’s work in itself, and you won’t have the time or energy to do it.
I mean invest your savings in good companies and let your portfolio grow slowly over time.
You can invest in ETFs, mutual funds or individual stocks of good companies using any of the available online brokers.
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It used to be that you would pay fees to online brokers when buying or selling shares, but those days are long gone :).
One important thing, though, is that you must always be on top of all your investments, your 401s, Roth IRAs, RSUs, and the stocks you invest in.
Pro Tip: Sign up with Robinhood today and get free inventory right away. They pioneered commission-free trading, and then all the major brokers followed suit.
These days, there are actually more positions for skilled programmers than there are people to fill those positions.
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With that in mind, it’s easy to conclude that programming is in incredibly high demand now and will continue to be for years to come.
With such high demand, you can not only make money programming, but also make money teaching programming.
There are literally hundreds of thousands of people in the world who want to learn what you already know.
Make it easy to create and monetize courses. All you have to do is create a quality course.
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I make an extra $1,500 to $2,000 a month just from this blog, which helps pay a large portion of the expensive rent in Silicon Valley. If you want to start your own blog, I wrote a detailed article on how and why you should start one.
The advantage of this method is that you will not only earn money, but also make a name for yourself in the programming community.
Marketing yourself as a software engineer and having a strong internet presence is extremely important and will open doors to many opportunities in your career that you wouldn’t otherwise have.
Aside from building your personal brand, I’m a firm believer that you can’t fully learn until you learn.
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With a programming blog, you will teach others about programming while improving yourself as a programmer. All while making money at the same time. How awesome is that?!
And it doesn’t have to be expensive, you can start your WordPress blog today for the price of a cup of coffee
Google allows you to place Google ads on your site and get a share of the ad revenue every time one of your readers clicks on the ad.
If you choose to monetize only with ads, you should always aim to grow your readership because your ad revenue is directly proportional to the size of your readership.
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When you sign up, Amazon will give you an referral link that you can use on your blog. If your readers go to amazon through your referral link and buy anything from amazon, you will get a commission.
Since your readers are interested in programming, you should always suggest products that are valuable to programmers, such as programming books and software.
Unlike monetization with ads, when you monetize through affiliate, you may be tempted to recommend expensive products even if you have never used those products.
Never compromise that mutual trust for a few extra dollars. Make sure you recommend good and valuable products that you use yourself. If you don’t use the product, don’t recommend it. Period.
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Selling your own products on your blog takes the most work, but brings in the most money.
Once you set up the products you want to sell and do everything on your end, your blog will continue to earn you passive money.
Among other things, you will need to learn about online marketing and the right ways to promote your products.
One of the easiest ways to start earning a few bucks on the side is to freelance on Fiverr.
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If you don’t know what Fiverr is, it’s one of the largest online marketplaces for freelancers with services starting at five dollars.
These services can be in a wide variety of categories including programming, business, marketing, design, writing, translation, video, music and many more.
So whether you want to use your existing programming skills to make money on the side, or you have other skills that you’d rather monetize, Fiverr can be your gateway to the world of freelancing.
And besides making money on Fiverr by being a freelancer, you can also use the site to outsource some of the tasks you’d rather have someone else do, freeing up your precious time to do something more valuable with it.
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I have personally hired freelancers on Fiverr for various tasks, especially logo and graphic design.
One side income idea could be to grab a piece of this pie and start your own e-commerce business.
Setting up your online store and even finding products to sell is very easy these days with platforms like Shopify.
The hardest part is NOT actually creating your store (you can literally do it in a few hours), but what will require more effort and time on your part is being able to market and sell your products.
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You have to be creative about the different ways you can market your products. How do you find your target audience? Paid ads or organic traffic? How competitive is your niche?
Being creative and having a solidly thought out strategy is what will set you apart from your competition.
Like the other side income ideas in this post, this one takes work, but if you do it right, eCommerce has the potential to completely replace your current job.
Here’s a step-by-step guide from Shopify on how to build and grow your online eCommerce business.
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If you want a more personal interaction with your audience and have a likable friendly personality, you can start your own YouTube channel.
Being able to work on your speaking and communication skills can be very beneficial for you and your career.
So even if we completely ignore the potential income (which could be significant), starting your youtube channel is still worth it.
Because Youtube allows you to build a much stronger relationship with your audience on a much deeper level than a programming blog would.
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Now when it comes to monetization, making money on youtube is not much different than making money on your blog.
Rounding out the list is the strategy that requires the most work of all – building your own software to sell.
This requires more than just your programming skills, you need to develop an eye for business needs and opportunities.
Build a software product that the market needs or that helps other people solve their problems and you’ll be in good shape.
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You will also need to work on your marketing skills to promote your software.
All of these skills, while extremely important, are skills that the average programmer does not have, and if you learn and use these skills, you will be at a huge advantage.
In fact, the probability is quite small. However, if your product takes off, it can be very lucrative.
Besides Fiverr, Upwork is another way you can use your programming skills and that is to freelance on Upwork.
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Upwork allows clients from all over the world to find and hire you if you have the skills they are looking for.
Programming is definitely one of the most in-demand skills in demand, and if that’s what you want to do, you should definitely consider freelancing.
Karim holds a PhD in Computer Science from the University of California, Santa Barbara. He has had more than three years of experience teaching CS to undergraduates, more than 5 years of research experience, and is
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