Are you a coder looking to make a passive income in 2023 and beyond?
Look no further than these three easy ways to generate recurring revenue streams using chat GPT.
- The first method involves selling access to your API as a software service. By charging $99 per month and gaining 100 customers, you could earn a passive income of $10,000 per month. An example of this would be creating an API that automatically generates videos from URLs, which business owners would be willing to pay for.
- The second method is to use a freemium model, where you offer a free version of your tool, such as a solar return on investment calculator app, and a premium version that offers additional features for a fee.
- The third method involves giving away your tool for free and generating revenue through ad revenue. By attracting 100,000 visitors per month and earning $20 per thousand visitors, you could earn a passive income of $2,000 per month.
- Coder can make a passive income using chat GPT by selling access to their API, using a freemium model, or generating ad revenue.
- Offering a premium version of a free tool can generate additional revenue.
- Generating ad revenue through a free tool can be a viable option for generating passive income.
Passive Income Idea 1 – API Access as a Passive Income Stream
If you’re a coder looking to make a passive income, one of the easiest ways is by offering an API access to your software as a service (SaaS). By selling it for a monthly fee, you can make a recurring income without having to actively work on it every day.
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For example, you could create an API that generates videos automatically from URLs. Business owners are willing to pay for this kind of service, and if you have 100 customers paying $99 per month, you can make $10,000 per month passively.
To create this kind of service, you can use ChatGPT to help with the coding work. With its advanced machine-learning capabilities, ChatGPT can help you create complex algorithms that generate videos from URLs automatically.
By offering this service as a SaaS, you can easily scale your business and make a passive income without having to actively work on it every day. Plus, with ChatGPT, you can create a high-quality service that will attract customers and keep them coming back for more.
Passive Income Idea 2 – Freemium Model for Passive Income
If you’re a coder looking for ways to generate a passive income, the freemium model could be a great option for you. With this model, you offer a basic version of your product or service for free, but charge for premium features or additional services.
For example, let’s say you create a solar return on investment calculator app. 😎🌞 You could offer a free version of the app that allows users to input basic information about their roof and location to get an estimate of how much money they could save with a solar roof. However, you could also offer a premium version of the app that provides additional input opportunities or recommendations, generates a report, or gives users access to a community of solar enthusiasts.
By offering a free version of your product or service, you can attract a larger audience and build trust with potential customers. Once they see the value in your offering, they may be more willing to pay for additional features or services.
One key to success with the freemium model is to make sure the basic version of your product or service is still valuable on its own. If the free version is too limited or doesn’t provide enough value, users may not be interested in upgrading to the premium version.
Passive Income Idea 3 – Ad Approach for Passive Income
If you’re looking for a way to generate passive income as a coder, the ad approach may be the perfect option for you. With this approach, you can offer a tool or service for free and generate revenue through advertising.
The first step is to create a tool or service that people will find valuable. This could be anything from a solar return on investment calculator app to a video generator that automatically creates videos from URLs. Once you have your tool or service, you can offer it for free on your website.
To generate revenue, you can run ads on your website. The more traffic you have, the more revenue you can generate. For example, if you get 100,000 visitors per month and you earn $20 per thousand visitors, you can generate $2,000 per month passively.
One of the benefits of the ad approach is that you don’t have to worry about selling anything. You can focus on creating a tool or service that people will find valuable, and then let the ads generate revenue for you.
However, it’s important to keep in mind that the ad approach may not be the most lucrative option. You’ll need a lot of traffic to generate significant revenue, and you may need to invest in advertising to drive traffic to your website.
Congratulations! You have just learned three easy ways to create a passive income stream as a coder in 2023 and beyond. By using ChatGPT to help you with the coding work, you can create these income streams in just a couple of weeks.
The first way is to create an API and sell it as software as a service for $99 per month. With 100 customers, you can make $10,000 per month passively on a recurring basis. An example of this would be to create an API that generates videos automatically from URLs.
The second way is to use a freemium model. You can offer a free version of your tool, such as a solar return on investment calculator app, and then offer a premium version with additional features for a fee. This can include generating a report or giving a list of good providers for solar roofs.
The third way is to use an ad approach. You can offer your tool for free and run ads on your website. With 100,000 visitors per month, you can make $2,000 per month passively just from the ads.
By using these three methods, you can create a passive income stream that can potentially become a full-time income depending on where you live. So what are you waiting for? Start coding and create your own passive income stream today!
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While working as a researcher in distributed systems, Dr. Christian Mayer found his love for teaching computer science students.
To help students reach higher levels of Python success, he founded the programming education website Finxter.com that has taught exponential skills to millions of coders worldwide. He’s the author of the best-selling programming books Python One-Liners (NoStarch 2020), The Art of Clean Code (NoStarch 2022), and The Book of Dash (NoStarch 2022). Chris also coauthored the Coffee Break Python series of self-published books. He’s a computer science enthusiast, freelancer, and owner of one of the top 10 largest Python blogs worldwide.
His passions are writing, reading, and coding. But his greatest passion is to serve aspiring coders through Finxter and help them to boost their skills. You can join his free email academy here.