As someone who loves a good domain name and collects them, your domain name just gave me a small brain aneurysm.
You shouldn't go into computer programming. Typical code looks way worse.
Startups that have hit more than $1K MRR in about 12-24 months
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Re: Startups that have hit more than $1K MRR in about 12-24 months
#42Earlier quoted context omitted.
Or it could just be that so many of them are fishing in the same pond? A lot of them seem like run of the mill productivity software, it is a crowded market with big incumbents. The ones with unique offerings may just be too marginal to garner a large enough customer base, business customers ultimately want full feature suite products.
I think the reverse is true in current days. Run of the mill doesn't work anymore I guess. Most products now needs some unique features or build something for a niche.
Entering a market that has economy of scale (serving 1000 users cost the same as serving 1 user) need a big marketing budget and a sales team and it can take years until you have enough users to become profitable.
So unless you have a lot of money beforehand compete at something that doesn't scale (for anyone right now). So it will cost the same ballpark to serve your first user as it will cost an established business to serve +1 user.
Re: Startups that have hit more than $1K MRR in about 12-24 months
#43$1k MRR is nothing to brag about. Seriously, we need to start aiming much higher. If this was "My 1hr a day side project hitting $1kMRR in 12months", then it's impressive. But I often see these non side projects and I just want to voice that it's absolutely not impressive. If you started a business mowing lawn, cutting hair, you better be way past $1K revenue in 6 months. If you're fully committed to building a start…
>> If you started a business mowing lawn, cutting hair, you better be way past $1K revenue in 6 months.
Depends. If you are doing the mowing, cutting then i'd agree -- because it isnt a "product/platform/marketplace business" as much as a service, so you should earn the market rate of the service, less your independence discount.
If you are not doing the mowing, cutting but instead have a scalable business that could grow beyond the 24hrs you can work yourself, then you may not have made $1k in 6mo because you're investing for growth.
Since the article is about MRR, i'm assuming they are talking about the second category, which is true MRR.
Re: Startups that have hit more than $1K MRR in about 12-24 months
#44$1k MRR is nothing to brag about. Seriously, we need to start aiming much higher. If this was "My 1hr a day side project hitting $1kMRR in 12months", then it's impressive. But I often see these non side projects and I just want to voice that it's absolutely not impressive. If you started a business mowing lawn, cutting hair, you better be way past $1K revenue in 6 months. If you're fully committed to building a start…
Well, you can't compare $10K/m day job and $1K MRR. Some time $1K MRR is better if you want more freedom. You must have heard of story of Daniel Vassallo.
Re: Startups that have hit more than $1K MRR in about 12-24 months
#45$1k MRR is nothing to brag about. Seriously, we need to start aiming much higher. If this was "My 1hr a day side project hitting $1kMRR in 12months", then it's impressive. But I often see these non side projects and I just want to voice that it's absolutely not impressive. If you started a business mowing lawn, cutting hair, you better be way past $1K revenue in 6 months. If you're fully committed to building a start…
> If you're that skilled and can't figure out how to make money fast, you really might be better of leetcoding and getting a job at one of the FAANGs or well paying SV companies. Unless of course, you prefer to have the freedom to work on whatever you want to work on.
I was just quoting the same in another comment where Daniel Vassallo quit his high paying job.
Re: Startups that have hit more than $1K MRR in about 12-24 months
#46In a sea of startups/products, where everything feels as if it is already created - how does one come up with a product idea? I feel that every problem I try to tackle is not a real problem. It’s a vitamin and not an ibuprofen. The real problems already have a solution - which means that I’d need to spend a few years and a few hundred thousand dollars to just get a chance to maybe make a profitable product.
Maybe create something of value first.
If you came up with a transporter you could make trillions in the shipping industry.
If you are part of a small group who knows the person who created a transporter you can be the first setting up services around that and make billions.
If you are the last person to discover you have to beat everyone before or discover something new.
Re: Startups that have hit more than $1K MRR in about 12-24 months
#47$1k MRR is nothing to brag about. Seriously, we need to start aiming much higher. If this was "My 1hr a day side project hitting $1kMRR in 12months", then it's impressive. But I often see these non side projects and I just want to voice that it's absolutely not impressive. If you started a business mowing lawn, cutting hair, you better be way past $1K revenue in 6 months. If you're fully committed to building a start…
>> If you started a business mowing lawn, cutting hair, you better be way past $1K revenue in 6 months. Depends. If you are doing the mowing, cutting then i'd agree -- because it isnt a "product/platform/marketplace business" as much as a service, so you should earn the market rate of the service, less your independence discount. If you are not doing the mowing, cutting but instead have a scalable business that could…
Agree. Yes, I am talking about a true MRR.
It always makes happy to get a MRR even if its a small amount when you are just starting up.
Re: Startups that have hit more than $1K MRR in about 12-24 months
#48$1k MRR is nothing to brag about. Seriously, we need to start aiming much higher. If this was "My 1hr a day side project hitting $1kMRR in 12months", then it's impressive. But I often see these non side projects and I just want to voice that it's absolutely not impressive. If you started a business mowing lawn, cutting hair, you better be way past $1K revenue in 6 months. If you're fully committed to building a start…
I had the same initial reaction. A SaaS product taking that long to get to $10K ARR is not exciting from an ambition perspective - maybe from a side-project POV, though, it would be.
While the traditional VC yardsticks* are both way too reductionist AND now well out-dated, they at least provide a rough sense of how good of an opportunity you have.
* I've heard these are the perquisites for VC SaaS funding rounds (note this is probably 5 years out of date, and they are likely much higher now): $10k MRR for Seed, $100k MRR for Series A, $500K - $1M MRR for Series B.
That all said, I like how Jason Lemkin talks about this. Basically, "I don't care how long it took you to get to $1M ARR - could be 10 years. But I need to see a clear path to getting to $100M ARR in 5 years from when you hit $1M". Paraphrasing. Obviously this is only for VC-scale businesses/approaches, not denigrating other ways of building a business.
Re: Startups that have hit more than $1K MRR in about 12-24 months
#49This is an awesome list!
$1k MRR may not sound impressive in Silicon Valley / New York etc., but 1) it's actually pretty good in other places in the world - the world is just too big, too diverse; 2) not many people have the skill to make $1k MRR without working for an established companies, and not many people have the time / energy to do side hustles or have guts to quit their job to find time to do so.
$1k MRR is a milestone. You can grow it to $2k, $5k, $10k down the road. Your efforts can directly affect the financial outcome.
Re: Startups that have hit more than $1K MRR in about 12-24 months
#50$1k MRR is nothing to brag about. Seriously, we need to start aiming much higher. If this was "My 1hr a day side project hitting $1kMRR in 12months", then it's impressive. But I often see these non side projects and I just want to voice that it's absolutely not impressive. If you started a business mowing lawn, cutting hair, you better be way past $1K revenue in 6 months. If you're fully committed to building a start…
Forgot to say in my other comment: a huge difference between those businesses and a SaaS product is margin. A $10k MRR SaaS product at 85%+ margins, requires no equipment other than a laptop to maintain, is vastly superior to a lawn mowing company IMO, which will have a truck, a mower, labour, etc. So from a margin perspective, you'd vastly prefer the SaaS product.