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Ask HN: Making $3000+ residual income monthly? Any tips/advice for a beginer?

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Ask HN: Making $3000+ residual income monthly? Any tips/advice for a beginer?

#1

Post by wilsonfiifi »

Hello HN. I’m a self-taught developer (currently doing an Msc in CS). I mostly do freelance web development. My UI skills aren’t good enough to label myself as a full-stack developer but I’m getting there. However I’m comfortable with server side development (Python and Golang mostly), client/server side Javascript and I also have enough system admin knowledge to run my own server (metal/VM).

Are there any revenue streams I could tap into with my current skill set that would enable me to generate (eventually) recurring monthly income of $3000 and above. I don’t mind putting in the work/time to build it up.

Re: Ask HN: Making $3000+ residual income monthly? Any tips/advice for a beginer?

#3

Post by MattBearman »

I'm actually on the same path, I've built a SaaS website feedback tool, which started 4 years ago as a side project, but since Sept this year I've been working on it full time, hoping to reach around $3,000 MRR (currently at $900)

So far it's working, I'm way ahead of my target 7% month on month growth, so I'd recommend doing something similar - build a SaaS app that you can manage by yourself, and invest as much time as you can in learning marketing.

If you're interested I'm doing a completely transparent blog series about my progress - https://blog.bugmuncher.com/2015/10/22/from-side-project-to-...

Good luck!

Re: Ask HN: Making $3000+ residual income monthly? Any tips/advice for a beginer?

#6

Post by sharemywin »

The problem with most Saas problems is capital. If most investors suggest a LTV of 3x CAC and if your average customer is $30 per month and your LTV is $360(3 yrs) then you need $120 per customer or $12,000 to invest in advertising to match what other Saas companies are doing to reach your goal.

Re: Ask HN: Making $3000+ residual income monthly? Any tips/advice for a beginer?

#8

Post by cridenour »

citiguy wrote: post #7
SQL2219 wrote: post #2

Solve problems for small businesses, they have lots of them. If you can save a business owner time or money, they'll give you money!

Sounds reasonable. How to find small businesses who have problems?

Go out and talk to them!

Re: Ask HN: Making $3000+ residual income monthly? Any tips/advice for a beginer?

#9

Post by me_bx »

citiguy wrote: post #7
SQL2219 wrote: post #2

Solve problems for small businesses, they have lots of them. If you can save a business owner time or money, they'll give you money!

Sounds reasonable. How to find small businesses who have problems?

Personally I got connected to a lot of small businesses with problems by working at a coworking space. Found clients, but also providers there, all in a friendly atmosphere.

Otherwise, you can try to do some networking at events targeted to business owners...

Re: Ask HN: Making $3000+ residual income monthly? Any tips/advice for a beginer?

#10

Post by wilsonfiifi »

MattBearman wrote: post #3

I'm actually on the same path, I've built a SaaS website feedback tool, which started 4 years ago as a side project, but since Sept this year I've been working on it full time, hoping to reach around $3,000 MRR (currently at $900) So far it's working, I'm way ahead of my target 7% month on month growth, so I'd recommend doing something similar - build a SaaS app that you can manage by yourself, and invest as much tim…

Thanks for sharing this, great stuff! Good luck to you too!
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