Practically, it’s such an internet community of entrepreneurs, who are devoted to making profitable internet businesses, hence the indie hackers. An indie hacker is an individual who creates and launches a product or business freely without in demand of the support of a big company or team.
Usually, they are driven by their own passions, interests, and ideas.
Based on a study by Salary Official Website, the reasonable annual salary is around $82,024, with most salaries reaching the range of $72,704 to $91,576. Another study from Reddit states, that nearly 5% of indie hacker products only earn more than $100k a year.
Essentially, indie hackers monetize their websites through advertising, merchandise, and newsletters. Also, indie hackers can make money by exploiting several different techniques or diverse ways. To clarify, some notable options for indie hackers include Apps on Grid, MakerLog, and Weekend Club.
Two outstanding methods are discussed below:
How Do Indie Hackers Make Money In General
If you hope to succeed in indie hacking, you need a combination of technical skills, creativity, marketing savvy, and a profound knowledge of target visitors understanding.
Let’s dive deep into the ocean to gather knowledge for better understanding:
Indie hackers employ various strategies to make money, and here are some common approaches:
Product Sales:
Digital Products: Indie hackers often create and sell digital products such as e-books, online courses, software, or mobile apps.
Physical Products: Some indie hackers delve into creating and selling physical goods, either through eCommerce platforms or crowdfunding.
Subscription Models:
SaaS (Software as a Service): Building and selling software on a subscription basis is a popular model. Indie hackers may offer tools or services that eliminate typical troubles for their target visitors.
Membership Sites: Creating exclusive communities or providing premium content on a subscription basis can generate recurring revenue.
Affiliate Marketing:
Indie hackers are eligible to earn commissions through affiliate marketing by promoting other distinctive individual’s products or services. This often involves recommending products within their niche or industry.
Freelancing and Consulting:
Some indie hackers leverage their skills by offering freelancing services or consulting within their expertise. This can feed a steady income while enabling them to perform on individual unique projects.
Ad Revenue:
If indie hackers run blogs, podcasts, or YouTube channels, they may generate income through advertising. These social media channels deliver including sponsored content, partnerships with advertisers, and demonstrate advertising.
Crowdfunding:
Platforms like Kickstarter or Indiegogo enable indie hackers to grow capital through pre-sales before the product or service is entirely manufactured.
Open Source Contributions:
While not a direct source of income, contributing to open-source projects can enhance an indie hacker’s reputation, leading to job opportunities, consulting gigs, or sponsorships.
eCommerce:
Selling physical goods through eCommerce platforms is another avenue. This could involve creating and selling custom merchandise or curating products related to a specific niche.
Event Hosting:
Some indie hackers organize events, webinars, or workshops, charging attendees or partnering with sponsors to generate revenue.
Content Monetization:
Indie hackers who produce valuable content may monetize it through platforms like Patreon. On a quick note, supporters are eligible to contribute to that purpose on an ongoing basis.
Licensing and Royalties:
If an indie hacker creates intellectual property such as music, art, or design, they can license it to others or earn royalties from its use.
Niche Market Sales:
Identifying and catering to niche markets allows indie hackers to create products or services tailored to specific needs, potentially leading to a dedicated customer base.
Indie hackers often combine multiple revenue streams to create a diversified income portfolio and extinguish the threats associated with depending on a solitary source of revenue.
How Do Indie Hackers Make Money With Side Hustling
Here is how do indie hackers make money online with side hustling:
Selling on Etsy
It goes without saying, that Etsy is a prevalent and reputable online marketplace that enables the sale of creative, vintage, and handmade products. So, if you think you have the expertise, competence, and strong willingness to produce extraordinary and enticing products.
In this case, Etsy will be your best platform to make money among other side business ideas.
Etsy simply empowers you to build and set up your distinct store with ease. After confidently building and setting up your store beautifully, you can start selling your eye-catching, top-notch products to a wide, global audience.
Offer Freelance Services
Upwork, Freelancer, Truelancer, and Fiverr are the prime platforms that help freelancers join the best organizations, firms, or even individuals who desire the services. Suppose, you have the competence, or expertise in fields like design, development, editing, and writing.
In this case, you can earn money by offering your services on these platforms as one of the passive income ideas. These platforms empower you to search and apply for many distinctive freelance opportunities. On a quick note, you will also have the power to set your unique rates and working schedule.
Build and Sell eLearning Courses
Yet another indie hacker’s possible method to achieve money is to use online eLearning platforms.
If you search, you can find many platforms that empower you to make and sell online courses. Online eLearning platforms, for example, Skillshare, Udemy, Teachable, and many others offer paid coaching, courses, and downloadable content.
These platforms are the best options to reach a vast number of visitors and gain passive income. Besides, these platforms have several unique features that make it comfortable to build and sell a variety of courses on demand, including course bundles, customizable landing pages, and membership options.
Selling Products on Amazon
It will not be a lie to say, that one of the most popular and largest online marketplaces is Amazon in the world. This is an awesome platform where you can sell products as a physical, digital, or print-on-demand side hustle.
Just make a seller account and start selling the desired product to a wider audience globally. Amazon’s platform is wrapped with various useful tools and resources to assist you get started, including advertising options, customer support, and fulfillment services.
Propose Consulting or Coaching Services
Another powerful method to make money is to use consulting or coaching services platforms. There is an extensive library of platforms for consulting or coaching services online, but once you find the platform you want, you can connect specialists with individuals and businesses who require advice and guidance.
What’s more, you can offer various services on that platform and achieve passive income through side hustling. On an important note, it is very comfortable to locate and prepare consulting or coaching sessions. Also, you will have the power to settle your diverse rates and availability.
It is important to remember that, it is crucial to amplify and maintain various projects that drive reliable income, to achieve a wonderful living from indie hacking. And it is also vital to develop recycling systems and approaches to make it sustainable.
Final Thought
Indie hackers employ a range of strategies to monetize their ventures independently. Through product sales, including digital offerings like software and online courses, and physical goods via eCommerce, they tap into niche markets and cater to specific needs.
On the other hand, subscription models and membership sites provide recurring revenue, while affiliate marketing and ad revenue offer additional streams. Freelancing and consulting services leverage their expertise, and crowdfunding platforms enable them to raise funds for projects.
Indie hackers often diversify their income, combining these approaches to create a sustainable and resilient revenue portfolio. By embracing a multi-faceted approach, indie hackers can navigate the challenges of entrepreneurship, build a dedicated customer base, and achieve financial sustainability while operating on their terms.
