Developers can be sitting on an untapped source of revenue. If they work for an organization, it’s clear that the code they develop does not precisely belong to them. However, working on personal projects or having a passion for building their portfolio can be a goldmine. Your code and knowledge can turn into revenue. The most straightforward path would be developing a mobile application or computer program. Yet, you can start generating money without fully releasing any products.
Selling software
Your project can gradually become a product you can market and sell. You can release it on the Google Play Store, Steam, or GitHub Marketplace if that happens. Of course, you can sell it without offering it at a popular store. Yet, it does require more effort to help potential clients find your product (through organic search or ads).
It’s also crucial to settle on a way to monetize apps. You could choose to put it as a paid app, meaning users need to spend money to download it. However, you can explore monetization strategies like ads, affiliate marketing, freemium models, tiered subscriptions, microtransactions, or more unique options. For example, you can allow users to access the app’s premium version by sharing unused internet bandwidth. It’s one of the seamless ways to use app monetization to make money off your free user base.
White-labeling
White-label products mean that you have a highly customizable and flexible project. You can sell it to multiple people and companies. Each buyer can customize your product according to their needs (like adding logos and some styling choices). You retain your rights as the creator by ensuring specific legal protections and agreements.
Publishing educational content
Besides selling code or building apps, you can earn money from your experience and skills. That could mean offering paid lessons for people wishing to learn particular topics. Furthermore, you can choose less demanding options, like releasing online courses on platforms like Udemy. After the release, you’ll continue earning money if people buy the course. If it does well, you can release more and improve your tech (like microphone, camera, or presentation skills).
Open-source contributions
You can publish your projects as open-source code on platforms like GitHub. Then, people can support you via donations or sponsorships. Additionally, some open-source projects pay developers for their contributions. Thus, you can look at the projects that might pay you for your ideas.
Selling SDKs
You can build SDKs (Software Development Kits) for other developers. SDKs are everyday helpers when achieving certain app functionality without writing code. Of course, the aim is to build features that are less frequently available (in other SDKs). Then, you have a valid selling point by offering something that other providers do not.
Conclusion
Developers have the potential to earn significant revenue from their code. All it takes is picking your preferred path, whether releasing an app or educating others. Whichever the case, consider the market demand. For example, if you are considering developing an application, see what new and improved options you can offer. The same applies to anything: your product must be better than others or introduce something users have reported needing to be added to the current applications.
