How to Make 6 Figures As A Chief Technology Officer ? (11 Best Ways in 2024)
So you want to make six figures as a chief technology officer ? Good for you! Being a chief technology officer is a highly respectable and well-paid profession, and there's no reason why you can't earn a high income if you put your mind to it.
In this blog post, we'll look at some of the best ways to make more money as a chief technology officer - business ideas you can start to achieve such income. Keep reading to learn more!
1. Digital products ($242K/month)
As a Chief Technology Officer, supplementing your income through digital products could be a lucrative endeavor. With your technical expertise, you could create profitable digital solutions such as apps, software tools, or even a specialized online course. The beauty of digital products is that they require minimal overhead, eliminating the need for physical inventory and allowing you to market and sell globally from your own website.
Not only are digital products straightforward to produce, but they also offer limitless potential for scalability and passive income. Establishing a subscription-based membership site or an exclusive online community focused on the latest tech trends could further maximize your earning potential. By leveraging your professional knowledge and technical acumen, tapping into digital products could significantly bolster your pathway to making six figures and beyond.
How much you can make: $10,417 — $1,766,666/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 60 days (?)
FilterGrade is an eCommerce platform offering digital assets such as photo filters and video templates; attracting over 450,000 monthly users and generating approximately 30k a month, the founders worked hard to build a valuable marketplace for creators while focusing on digital marketing, partnerships, and content creation.
2. Start a youtube channel ($146K/month)
Starting a YouTube channel could significantly supplement your income and even pave the way to making six figures as a Chief Technology Officer (CTO). By sharing your deep technical insights, leadership experiences, and industry trends, you could attract a substantial following of tech enthusiasts and professionals. Achieving the minimum threshold of 1,000 subscribers and 4,000 watch hours within the previous 12 months can enable you to join YouTube's Partner Program, thereby opening up various revenue streams such as ad revenue, sponsorships, and affiliate marketing.
Given YouTube's established monetization system and vast popularity, your channel could become a lucrative side venture, generating extra income through high engagement. Additionally, leveraging your expertise could position you as a thought leader in the tech community, potentially leading to speaking engagements, consulting opportunities, and further career advancements. Your entrepreneurial mindset and passion for content creation could thus turn your YouTube channel into a robust revenue-generating platform.
How much you can make: $800 — $1,000,000/month
How much does it cost to start: $750 (?)
How long does it take to build: 90 days (?)
Time commitment per week: Min. 5 hours/week
Learn how this entrepreneurial couple made $5-7k a month by helping others find legitimate work from home jobs and creative ways to make money online through their blog and YouTube channel, as well as offering two flagship products designed to help beginner freelancers and new bloggers accelerate growth.
3. Become an affiliate marketer ($55.3K/month)
As a Chief Technology Officer, diversifying your income streams through affiliate marketing could be a lucrative side venture. By leveraging your technical expertise and industry insights, you could promote tech products or services that align with your professional interests.
This business model demands minimal upfront investment, allowing you to utilize your marketing skills to drive sales without the need to create or own the products yourself. Signing up for affiliate programs in niches relevant to your work could help you generate additional income through commissions, potentially adding up to a substantial six-figure sum.
Engaging in affiliate marketing can seamlessly complement your primary role by allowing you to capitalize on your existing network and knowledge of cutting-edge technology. This venture could offer not only financial rewards but also a means to keep abreast of industry trends and innovations.
How much you can make: $18,000 — $83,000/month
How much does it cost to start: $100 (?)
How long does it take to build: 150 days (?)
This case study explores how Spencer Mecham founded Buildapreneur, an affiliate marketing business, and has made over half a million dollars in profit with no employees, relying solely on content marketing through platforms like Facebook, YouTube, and TikTok.
4. Start a blog ($44.9K/month)
As a Chief Technology Officer (CTO), starting a blog could significantly supplement your income by sharing your expert insights on technology trends, leadership, and innovation. This location-independent venture not only provides a creative outlet but also allows you to reach a broader audience that seeks trustworthy insights—given that blogs are rated as the 5th most reliable source of online information.
With 77% of internet users reading blogs and 409 million people viewing over 20 billion pages monthly, your blog could attract a substantial following. By consistently sharing valuable content, you could build a loyal readership, create a mailing list, and explore monetization opportunities such as sponsored posts, affiliate marketing, or even premium content. This additional income stream could help you reach, or exceed, six figures, all while enhancing your personal brand and professional network.
How much you can make: $100 — $650,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 30 days (?)
Time commitment per week: Min. 5 hours/week
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
5. Start a podcast ($97.9K/month)
As a Chief Technology Officer, starting a podcast could be a unique way to supplement your income and diversify your revenue streams. By leveraging your expertise in technology, you could create content that resonates with a wide audience of tech enthusiasts and professionals, thereby attracting a substantial listener base.
With the right promotion strategies and dedication, your podcast could gain enough traction to attract sponsors or advertisers, generating significant income. Additionally, this venture could open up opportunities for consulting, speaking engagements, and even partnerships, further adding to your financial growth and helping you achieve that six-figure mark.
How much you can make: $400 — $1,020,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 2 hours/week
A successful podcast production company that grew from one client making $15/hour to a team of 10 contractors producing over 30 shows per week with revenue of over $10k/mo, primarily through referrals and with a focus on providing high personal touch and being picky about working only with clients who are a good fit.
6. Start a career coaching business ($48.5K/month)
Starting a career coaching business could be a lucrative way to supplement your income as a Chief Technology Officer. By leveraging your extensive industry knowledge and leadership experience, you could offer personalized guidance to clients aiming to navigate professional transitions and achieve growth in their careers.
Through custom coaching sessions tailored to resume building, interview preparation, and workplace advancement, you could empower clients to reach their professional aspirations while earning extra income for your expertise. The flexibility to conduct meetings virtually or in-person allows you to set your own schedule and easily balance this entrepreneurial venture alongside your CTO responsibilities.
With your speaking talents and human resources expertise, you could transform your motivational abilities into a powerful, profitable business that propels both your clients’ careers and your own financial success.
How much you can make: $1,000 — $235,000/month
How much does it cost to start: $1,500 (?)
How long does it take to build: 60 days (?)
Wall Street Oasis, the largest online community focused on careers in finance, has over 100 million visitors during its 14-year history and is currently receiving over 2 million visits per month, offering interview courses and mentorship services, in addition to building and investing in a thriving online community.
7. Create an online course ($82.8K/month)
Creating an online course could significantly supplement your income as a Chief Technology Officer by leveraging your specialized knowledge to fill educational gaps in technology. By identifying key areas where professionals or students need deeper understanding, you could develop engaging video lessons and additional materials tailored to these needs.
The flexibility of offering self-paced or cohort-based courses ensures you reach a wide audience, providing a scalable source of passive income. With minimal startup costs, launching an online course platform presents an entrepreneurial opportunity to monetize your instructional talents, benefiting those eager to access your expertise while diversifying your revenue streams.
How much you can make: $275 — $1,000,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 88 days (?)
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
8. Start a freelance writing business ($62.6K/month)
As a chief technology officer, starting a freelance writing business could significantly supplement your income and bring you closer to the six-figure mark. Given your expertise in technology, you could easily carve out a niche writing about cutting-edge developments, software innovations, and industry trends, which are highly sought after by many clients. Your strong writing skills and ability to meet deadlines could set you up for success in this flexible online job, allowing you to work from home at any time.
Furthermore, your entrepreneurial mindset and self-starting nature align perfectly with the demands of freelance writing. Staying up-to-date with current writing tools and trends could leverage your technical acumen, enabling you to produce high-quality content that stands out. By effectively communicating complex concepts in a relatable manner, you could establish a robust side business, thereby diversifying your income streams and enhancing your financial stability.
How much you can make: $700 — $500,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 56 days (?)
How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.
9. Start a social media marketing agency ($386K/month)
Starting a social media marketing agency could be an excellent way to supplement your income as a Chief Technology Officer and elevate your earnings toward six figures. Leveraging your technical expertise, you could create and implement robust social media marketing strategies tailored for businesses looking to enhance their online presence. The advantage lies in your ability to automate tasks using sophisticated social media marketing tools, allowing you to manage your time effectively and maintain focus on your primary role.
Additionally, developing a comprehensive agency portfolio will help showcase your services and attract potential clients, ensuring a steady stream of income. With your technical background, you could offer premium services that set your agency apart from competitors, contributing significantly to your financial goals, whether it’s clearing utility bills, financing a college education, or saving for a vacation.
How much you can make: $1,000 — $4,166,667/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 75 days (?)
Time commitment per week: Min. 30 hours/week
How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.
10. Start an ecommerce store ($287K/month)
As a Chief Technology Officer (CTO), starting an eCommerce store could present a lucrative side business opportunity, leveraging your technical expertise to increase your income substantially. The eCommerce sector offers numerous advantages, such as lower overhead costs, greater flexibility, and a broader reach compared to traditional brick-and-mortar businesses. This can be an ideal platform to generate a steady stream of passive income.
eCommerce is booming due to its convenience and efficiency, attracting a vast audience willing to shop from the comfort of their homes. You could capitalize on this trend by setting up a professional website, integrating payment processing, selecting suitable shopping cart software, and managing inventory effectively. Utilizing your technological prowess, you could streamline these processes, ensuring a smooth and profitable operation.
How much you can make: $350 — $13,500,000/month
How long does it take to build: 120 days (?)
Time commitment per week: Min. 5 hours/week
Southern Elegance Candle Company, founded by D'Shawn Russell, started as a side hustle making around $200 per weekend at a local Farmers Market, but now averages approximately $20,000 per month in sales across their retail site, wholesale site, and Faire.
11. Become a social media influencer ($57.4K/month)
As a Chief Technology Officer, leveraging your expertise and establishing yourself as a social media influencer could significantly supplement your income and put you on the path to earning six figures. By sharing your deep industry knowledge and insights on platforms like Instagram, YouTube, and LinkedIn, you could build a substantial following of tech enthusiasts and professionals. This gives you the opportunity to monetize your content through brand sponsorships, partnerships, and paid endorsements, as companies are eager to engage influencers with authentic connections to valuable target audiences.
Moreover, creating content in a popular niche such as emerging technologies, cybersecurity, or software development positions you as an authority in your field. This not only enhances your personal brand but also provides you with multiple income streams beyond your CTO role. With the right strategy and consistent effort, your influence could translate into a lucrative side business or potentially even a primary business venture.
How much you can make: $2,500 — $166,666/month
How much does it cost to start: $800 (?)
How long does it take to build: 155 days (?)
How one mother built a profitable frugal motherhood, life, and travel blog from scratch, using Instagram, Pinterest, and paid sponsorships to grow from 0 to 18.5K followers and generate $1,500-$3,000 per month in less than two years.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
