9 ways to make money coding (and the combo strategy I recommend)

TL;DR

Explore nine coding income streams and a recommended strategy.

Transcript

this video is sponsored by grammarly but more about them later in the video hey guys how's it going welcome back to another video so in this video we're going to talk about the different ways of making money online i just want to point out right now that this is not some like get rich quick scheme there are no ways really of making money that is su... Read More

Key Insights

• Freelancing is accessible and can be started easily by listing services on platforms like Upwork or Fiverr, or by networking within online communities.
• Technical writing offers a passive income stream but requires time to build a brand and consistent article output to generate significant income.
• Tutoring in coding is relatively easy to start and can quickly generate income, especially if you leverage personal networks or join local tutoring centers.
• Creating templates or plugins for platforms like WordPress or Shopify can be a lucrative passive income stream, requiring moderate effort to start.
• Starting a YouTube channel focused on coding can be easy but requires time to build an audience and generate significant income through views and sponsorships.
• Building and selling a coding course can be passive and profitable, especially if partnered with established platforms, though it requires significant upfront effort.
• Developing an app can be a challenging venture with high initial effort but offers passive income potential once established in the market.
• Securing a traditional coding job provides stable and consistent income but requires significant effort to enter the field through applications and interviews.

Questions & Answers

Q: What are the criteria used to evaluate different coding income streams?

The video evaluates coding income streams based on four criteria: ease of getting started, difficulty in earning a hundred dollars per month, stability of the income stream, and how passive the income stream is. These criteria help viewers understand the effort and potential return associated with each method.

Q: How can freelancing be a viable income stream for coders?

Freelancing is viable for coders as it is relatively easy to start by listing services on platforms like Upwork or Fiverr. Coders can also find clients through personal networks or online communities. Freelancing offers flexibility and can quickly generate income, especially for those with in-demand skills like web development.

Q: What challenges are associated with earning money through technical writing?

Technical writing poses challenges such as the time required to build a brand and audience. Initially, income is low, often less than a dollar per article per day. However, as writers gain reputation and produce more content, opportunities for sponsorships and higher-paying writing gigs can arise, making it a worthwhile pursuit over time.

Q: Why is tutoring considered an accessible way to earn money coding?

Tutoring is accessible because it requires minimal startup effort and can leverage existing personal networks. With coding being an in-demand skill, finding students is usually not difficult. Tutors can earn income quickly, with rates often surpassing minimum wage, making it a practical option for those looking to supplement their income.

Q: What are the benefits and drawbacks of creating coding courses?

Creating coding courses offers the benefit of passive income once the course is completed and marketed. It can be lucrative, especially when partnered with established platforms. However, it requires significant upfront effort in planning, creating content, and potentially collaborating with others, which can be time-consuming and challenging.

Q: How does developing apps compare to other coding income streams?

Developing apps is more challenging to start compared to other income streams due to the complexity of app creation and market competition. While it offers passive income potential once successful, initial sales can be difficult to achieve without effective promotion. The income stability depends on app popularity and market trends.

Q: What is the recommended strategy for making money from coding?

The recommended strategy involves securing a stable income through a traditional coding job while simultaneously building a content-based brand through platforms like YouTube or technical writing. This dual approach allows for immediate income and long-term passive income growth, leveraging freelance opportunities and audience engagement.

Q: How does the video suggest balancing immediate and long-term income opportunities?

The video suggests balancing immediate and long-term income by combining a stable job with content creation. This approach provides a reliable income while building a brand for passive income and freelance opportunities. By documenting and sharing experiences, coders can attract additional opportunities, creating a snowball effect of income growth.

Summary & Key Takeaways

• This video explores nine different ways to make money through coding, evaluating each method based on ease of entry, income potential, stability, and passivity.

• Freelancing, technical writing, tutoring, and creating templates are discussed as accessible ways to start earning, while YouTube, app development, and course creation offer passive income opportunities.

• The recommended strategy combines stable income from a traditional coding job with building a content-based brand to leverage freelance and passive income opportunities.