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I Created a $60K/Month App That Collects In-Person Payments Through Stripe

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Re: I Created a $60K/Month App That Collects In-Person Payments Through Stripe

#81

Post by dvko »

rscherf wrote: post #54
dimino wrote: post #19

Earlier quoted context omitted.

It seems like startup advice is based on the repeatable observations that people who've worked with a lot of startups have discovered. That means there are a bunch of situations that don't get covered because they don't come up a lot. When playing an odds game like startups, you want to do all the maximally viable things possible, but that doesn't mean other decisions aren't also viable, they're just not observed to…

I’m definitely not trying to peddle advice, I was just approached about my story. I think there are tons of micro niche things like this that can be built to earn a living (I have a list of 5 I’d build on top of just Stripe if I had the time). Large companies can’t do everything, and I think Stripe owns that. Not to mention, they still get all their same fees and don’t have to maintain the app.

I fully agree with this sentiment. I myself piggy-backed my product (or rather: feature) on a much langer company which was growing like crazy and have been able to grow it to a comfortable $40.000 per month over the last 6 years. It’s just me doing the bulk of the work with 2 friends helping out to handle 1st level support.

Now that it is a mature product and as long as the company I depend upon does not overhaul their API, it’s really just a 10hr/week job, affording me more freedom than is good for me.

I’d say there are loads of opportunities like this out there, especially in places developers do not want to go because they are not deemed cutting-edge or fun.

Re: I Created a $60K/Month App That Collects In-Person Payments Through Stripe

#82

Post by jventura »

rscherf wrote: post #47
filleokus wrote: post #9

Earlier quoted context omitted.

Well, isn't that advice also mostly given to founders aiming to create a potential ≈unicorn and not a lifestyle business like this? Don't get me wrong, what this guy has done is impressive. Growing a company while staying profitable all the way, and being able to support himself is great. I would switch places with him (ex post facto) in a heart beat. But still, this company will probably never be bought by anyone (b…

Hey, Ryan here. I don’t want to be bought. And in the end if Stripe decides to shut off the source, there are plenty of other things to build. Not to mention, tons of companies to work for. Just fortunate to be in this time and place right now.

Care to share any other “profitable” ideas? :) By the way, nicely done, some of us do really appreciate family and quality time in front of work time..

Re: I Created a $60K/Month App That Collects In-Person Payments Through Stripe

#83

Post by jventura »

dvko wrote: post #81
rscherf wrote: post #54

Earlier quoted context omitted.

I’m definitely not trying to peddle advice, I was just approached about my story. I think there are tons of micro niche things like this that can be built to earn a living (I have a list of 5 I’d build on top of just Stripe if I had the time). Large companies can’t do everything, and I think Stripe owns that. Not to mention, they still get all their same fees and don’t have to maintain the app.

I fully agree with this sentiment. I myself piggy-backed my product (or rather: feature) on a much langer company which was growing like crazy and have been able to grow it to a comfortable $40.000 per month over the last 6 years. It’s just me doing the bulk of the work with 2 friends helping out to handle 1st level support. Now that it is a mature product and as long as the company I depend upon does not overhaul th…

> I’d say there are loads of opportunities like this out there, especially in places developers do not want to go because they are not deemed cutting-edge or fun.

Any suggestions?

Re: I Created a $60K/Month App That Collects In-Person Payments Through Stripe

#84

Post by zerr »

rscherf wrote: post #52
ttraub wrote: post #23

He's getting 80% of the gross = 48,000/month. That's impressive income, half a million a year for what amounts to a good idea implemented at the right time. I love reading stories like this, and it demonstrates that there are still many opportunities out there. I don't understand some of these comments which seem to resent his success or belittle his company as "not a unicorn". That's good money, he works for himself…

Thank you! I’ll be first to admit it was perfect timing (which wasn’t planned at all). The freedom is what I was looking for; if nobody buys it, I’ll happy just keep running it. If Stripe launches the same features, I’ll figure out how to pivot. Or, build something completely new. Who knows what the future holds.

> had just built a new house in the suburbs

I'm more interested in this topic - any relevant posts? :)

Re: I Created a $60K/Month App That Collects In-Person Payments Through Stripe

#85

Post by buzzkillington »

slimed wrote: post #74
buzzkillington wrote: post #64

Earlier quoted context omitted.

You do you man. But if you have the skills you have it will be a lot easier to make that much money in corporate than on your own. That said I'm buying some specialized equipment for a synthetic biology startup I'll be trying my hand at before my next contract. I expect to spend most of the money I made and get no where, again.

Thanks, BuzzKillington. Have you considered that your definition of "easy" might be different than that of OP's?

There are many more opportunities to make net middle six figures being a cog in a machine than doing it out on the market.

Is that pedantic enough?

Re: I Created a $60K/Month App That Collects In-Person Payments Through Stripe

#87

Post by slimed »

buzzkillington wrote: post #85
slimed wrote: post #74

Earlier quoted context omitted.

Thanks, BuzzKillington. Have you considered that your definition of "easy" might be different than that of OP's?

There are many more opportunities to make net middle six figures being a cog in a machine than doing it out on the market. Is that pedantic enough?

I don't find the distinction pedantic at all.

There are plenty opportunities to be a janitor but there are aspects of that job I find unpalatable. Even if you paid me six figures.

Re: I Created a $60K/Month App That Collects In-Person Payments Through Stripe

#88

Post by guynamedloren »

rscherf wrote: post #53
taneq wrote: post #44

Earlier quoted context omitted.

$60k/month is a hell of a “lifestyle”.

Agreed, but spent most of it on the business and buying out my partner in the first 4 years.

I'm sure buying out your partner was an incredibly difficult decision to make.

Good on you for leaning into what you've built by putting your money where your mouth is. I hope it pays off for you, and thanks for sharing your story with us.

Re: I Created a $60K/Month App That Collects In-Person Payments Through Stripe

#90

Post by dimino »

rscherf wrote: post #54
dimino wrote: post #19

Earlier quoted context omitted.

It seems like startup advice is based on the repeatable observations that people who've worked with a lot of startups have discovered. That means there are a bunch of situations that don't get covered because they don't come up a lot. When playing an odds game like startups, you want to do all the maximally viable things possible, but that doesn't mean other decisions aren't also viable, they're just not observed to…

I’m definitely not trying to peddle advice, I was just approached about my story. I think there are tons of micro niche things like this that can be built to earn a living (I have a list of 5 I’d build on top of just Stripe if I had the time). Large companies can’t do everything, and I think Stripe owns that. Not to mention, they still get all their same fees and don’t have to maintain the app.

Advice is good, I don't want to seem like I'm critical of the post or anything, I just thought it's worth pointing out the differences in goals of the folks who tend to give the most popular startup advice from your specific situation.

That difference might help explain why there might be a perceived gap in what's here vs. what's on pg's blog, for example.

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