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Passive Income: Developer's Way For Automated Cash

Lesson's Master Action

  1. Choose 1 passive income strategy you're most comfortable with (product/partnership/teaching/thinking outside of the box)
  2. Make a plan on how you're going to execute the strategy in 14 days
  3. Make a plan on how you're going to monetize it in the following 14 days
  4. Execute the plans

Tired from selling your work hours for cash?

You're not the only developer who is dreaming about passive income.

It's not hard after all - let's explore how you can earn passive income too.

In this lesson, we will cover:

  1. How To Create Products
  2. How To Partner With Clients
  3. How To Teach
  4. Why Think Outside The Box
  5. Master Action
  6. Addressing Fears

How To Create Products

As Pieter Levels proved by his personal experience, having minimal programming knowledge allows you to build products that generate over $50,000 per month.

Building a product is not that hard and doesn't require much technical skill.

The truly hard part is switching your mindset from a technician to entrepreneur.

Have you ever felt excited about taking a new fancy technology and building something on it?

Yes, me too...

But sadly, fancy technology doesn't bring you money. You need to stop being excited about technology.

Customers don't give a shit about your technical stack.

Don't be like a child who is attracted to shiny balls 124 times a day.

To earn money, you need to ask people what they need and build products for them fast.

Think about:

  • What are the things that still take too much time to achieve online?
  • Why does booking an airfare still feels inefficient?
  • Why is scheduling a time with friends or business meetings is still inefficient?
  • What else is time-consuming on the web or on your phone? 

Are you embarrassed when your code looks crappy?

You shouldn't, because it doesn't matter. Your customers don't see your code.

You'll be the only one looking at your code in the beginning.

And when your business grows, there will be a team of developers who will refactor your code anyway.

As an Unbeatable Developer Academy student, I advise you to honor your time and only work with ideas that:

  1. can bring uncapped income
  2. doesn't make you location-dependent
  3. doesn't require you to sell your hours for cash

Avoid transactional business ideas (like Groupon), because you will have to deal with thousands of people to actually earn a dime. Dealing with many people will bring you headache. 

Also, avoid ideas that require human intervention, such as screening, 1:1, etc.

Remember: Build products that solve real problems, and people will pay for it. Don't focus on technical stack - it's not important at the beginning.

How To Partner With Clients

Are you still freelancing with an employee mindset? Do you still focus on selling hours?

Stop being a "business expense" for your client. Help your client make money.

If the client asked you to build something, it means there is monetary value in this. They definitely expect profit from that.

If you don't care about their profit - you're "just another business expense". Just another guy they're going to feed.

  • When I sell hours, I only care about the task I am doing and I just want to finish it as soon as possible, so that I can move on with the next project.
  • When I honestly care about the end result for my client - the actual profit they will - I get compensated with passive income, because we agree to share the end reward.

As I explained in my "How To Price Yourself" lesson, you need to:

  1. Ask your client what exactly they expect after they put your work (app/website/product) on action
  2. Set value-baced pricing agreements
  3. When you bring more profit than your client expected, you share the profit

That's how you're seen as an investment instead of "just another business expense".

As Dalai Lama explained: being a good human being is its own reward.

Why care only about your task, when you can expand your scope of awareness and bring much more value on the table?

How To Teach

Do you know the secret to becoming a rich developer?

Never hold anything just for yourself.

As a developer, you definitely have some knowledge and skills.

It doesn't matter if you're doing it for 1 month or 10 years - you always have to share something to the world.

There are so many courses about how to code. But almost none about how to actually be a good, productive developer.

And research shows that some developers are 25 times more productive than others. Why?!

Teach developers about:

  • How to handle physical health and stamina
  • How to increase mental productivity and awaken inner genius
  • How to connect job with spiritual mission
  • How to deal with relationships as a developer
  • ...

Do it, let it all go. Let the energy of Universe flow from you to the whole world.

Write books. Publish them on Amazon or do it yourself. Pieter Levels has already pre-selled his book for $41,000 and hasn't even published it yet. Demand is huge.

Build courses on Udemy. Be one of those instructors who became millionaires just from selling their courses on Udemy.

Start a podcast. People spend time listening to meaningless radio stations, stuffed with advertisements. Especially when commuting. 

What if just 1% of those people switched from radio to your podcast while driving to work? Congratulations, you're already a millionaire, and you gave exceptional value to the world.

Organize a seminar. Local coworking hubs are always open for events. They have plenty of space and a big mailing list of your target audience, because developers are usually the biggest part of coworking hub users.

You just need to think of a topic, build a presentation and pich it for a local hub. You won't reach millions of people, but you will develop strong connections. People who are connected to you will be more attracted to buy your other higher-priced products.

Why Think Outside The Box

Sometimes I build projects just for fun. Even if I don't know who is going to use it.

I just know that I planted a seed of good will for the Universe. And who knows - maybe tomorrow a million people will find out they need my product.

I remember one time I visited a website and it loaded blazing fast. I thought to myself: does it use Cloudflare? Yes, I know, only developers can ask such questions...

So I googled for a tool which can tell me if that website was using Cloudflare. To my surprise, I didn't find any!

So I built it myself. It's really simple and it took me just 1 day of work.

Was there a huge demand for it? Not really, but still - about 50 people now use it each month.

But I know Cloudflare is getting more popular, because it's a good service. So in the future, demand for my tool can increase and it will bring me passive income.

What's even more interesting - I started getting letters from people who wanted to work for me. These people were the very same developers who actually used my tool.

If you connect with other creators by building something useful - that's already a big achievement. Because together you can bring even more exceptional value to the world. Always think big.

Master Action

To enjoy immediate benefit from this lesson, do these steps in the next 30 days (start with first step immediately!) :

  1. Choose 1 passive income strategy you're most comfortable with (product/partnership/teaching/thinking outside of the box)
  2. Make a plan on how you're going to execute the strategy in 14 days
  3. Make a plan on how you're going to monetize it in the following 14 days
  4. Execute the plans

Addressing Fears

Do you feel uncomfortable with making passive income?

You might think passive income makes you reluctant to work hard, so you're fooling other people.

It's just your limiting belief.

Even if you don't think you have this belief - your subsconscious mind might have this habit of thinking.

In reality, passive income is just the result. It's the Universe rewarding you for the massive value you give to the world.

If you have fears about passive income - you're only fooling yourself, and not anybody else.

Small minds usually never achieve any passive income. Never subordinate to the small thinking around you.

As an Unbeatable Developer Academy student, your destiny is to be among the richest people on this planet.

Rich people don't sell their hours. Because they're too busy giving exceptional value to the world.

Tomas is former CTO and expert developer with 12 years of experience.

He helps developers uncover their full potential at Unbeatable Developer Academy.

His mission is to help 100 million people achieve more freedom in their lives.

LEARN MORE ABOUT TOMAS

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