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Bootstrapping a side project into a profitable seven-figure business

projectionlab.com

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Re: Bootstrapping a side project into a profitable seven-figure business

#161

Post by jonkuipers »

anentropic wrote: post #126
jonkuipers wrote: post #29

Earlier quoted context omitted.

I found him and he originally told me to get lost ;)

What attracted you so much to the project at that time?

I was a customer first. It was the product I had been searching for in my own financial planning, so I immediately saw the potential. When Kyle and I finally met, we hit it off right away. We aligned on the important things and shared a clear vision for where it could go. I’d always had the itch to bootstrap and help build something meaningful and sustainable, so I knew pretty quickly it was the right next move for me.

Re: Bootstrapping a side project into a profitable seven-figure business

#162

Post by scubakid »

optymizer wrote: post #151
teiferer wrote: post #115

Earlier quoted context omitted.

> I will put a few more extra hours today in my project thinking about you. And that's the recipe for failure right there. Your passion side project needs to be fueled by passion, not thinking about somebody else's success that you are trying to replicate.

> Your passion side project needs to be fueled by passion Maybe he's in that valley of despair right now that the article shows occurs many times. Passion is fleeting and at times you just need a little inspirational jolt to get back into it and regain some of that passion. Also, to share a personal experience, passion is not sufficient. You need favorable conditions as well (or the ability to create them). For examp…

I was definitely fortunate to attempt this in a compatible stage of life (no kids yet).

I'd like to think there will still be room for craft/creation if I become a parent someday. But I doubt this level of sustained focus (obsession?) over multiple years would have been possible or responsible in that scenario.

Re: Bootstrapping a side project into a profitable seven-figure business

#163

Post by adkaplan »

Amazing – congratulations. I've been using the demo version of your product every six months or so since I first saw your post here. I Really appreciate that you've kept it available, and hope you will continue to do so even as the cash continues to pour in. If I was anywhere close to retirement, I'd be a subscriber instantly, but I just like financial planning as a hobby. I recommend it to family and friends. You've created a great, intuitive product and absolutely deserve your success.

Re: Bootstrapping a side project into a profitable seven-figure business

#164

Post by scubakid »

themdonuts wrote: post #160
scubakid wrote: post #158

Earlier quoted context omitted.

Ah so with this business model there was minimal impact to existing customers? That's fortunate. Out of curiosity, what kind of transactional product has a substantial production database that would be daunting to re-build in a 4-6 mo window given you still had the source code during that time? And I hope you've taken your wife out for some nice dinners (or whatever she likes). Totally agree that having a supportive…

The business is a car rental platform for niche destinations https://bonjourpaco.com/ At the time I was working with maybe 30 providers and it would be doable to rebuild the server and reconfigure all providers, cars, insurance, etc. Content would probably take longer, but also doable. But at the time I took it as a sign to shift to something else. Glad I didn't and that the project came back from the ashes, literall…

Neat, someday I'd like to see the Azores. I've heard good things.

FYI if you click on a destination name, it's currently throwing a 500 error.

Re: Bootstrapping a side project into a profitable seven-figure business

#165

Post by commodorepet »

How do you differentiate between persistence or stuborness. I have been developing a SaaS product since 2020 which currently is at 3K ARR with a very slow growth (20%). It's a B2B and are we are still missing a bunch of features to make us on par with competitors. We did survive a couple of competitors that came and go as we still have our day jobs and running it costs peanuts ($$$).

It often feels I should give up but having had customers who used us for years makes me think we have something that one day will make serious money.

Re: Bootstrapping a side project into a profitable seven-figure business

#166

Post by commodorepet »

How do you differentiate between persistence or stuborness. I have been developing a SaaS product since 2020 which currently is at 3K ARR with a very slow growth (20% YoY). It's a B2B and are we are still missing a bunch of features to make us on par with competitors. We did survive a couple of competitors that came and go as we still have our day jobs and running it costs peanuts ($$$).

It often feels I should give up but having had customers who used us for years makes me think we have something that one day will make serious money.

Re: Bootstrapping a side project into a profitable seven-figure business

#167

Post by k1t »

jonkuipers wrote: post #101
k1t wrote: post #98

What I'd really appreciate is a demo/sandbox version where I can try out the functionality without having to enter anything personal. I appreciate that you have a (generous looking) free tier and various screenshots - but it just seems like something I'd want to play around with before taking the time to create an account and start entering personal data into.

We do offer a sandbox with preset examples that lets you explore the app. No need to enter any personal data, but you will need to sign up.

Thanks - I'll check it out then!

Re: Bootstrapping a side project into a profitable seven-figure business

#168

Post by jonkuipers »

adkaplan wrote: post #163

Amazing – congratulations. I've been using the demo version of your product every six months or so since I first saw your post here. I Really appreciate that you've kept it available, and hope you will continue to do so even as the cash continues to pour in. If I was anywhere close to retirement, I'd be a subscriber instantly, but I just like financial planning as a hobby. I recommend it to family and friends. You've…

Thanks so much. Really appreciate that. We’ve always wanted the tool to be accessible to anyone interested in financial planning, even just as a hobby, so it’s great to hear the basic version has been useful.

Do you think it strikes the right balance between free access and a sustainable paid model?

Re: Bootstrapping a side project into a profitable seven-figure business

#169

Post by scubakid »

commodorepet wrote: post #165

How do you differentiate between persistence or stuborness. I have been developing a SaaS product since 2020 which currently is at 3K ARR with a very slow growth (20%). It's a B2B and are we are still missing a bunch of features to make us on par with competitors. We did survive a couple of competitors that came and go as we still have our day jobs and running it costs peanuts ($$$). It often feels I should give up b…

Are your existing customers vocal about what they love or wish you'd add? Do you know how they found you and what made them choose you over competitors? Is there a niche/segment within your larger TAM with a specific pain point you're solving really well? And how big is that segment?

Either way, if your existing customers don't all come from paid channels, and they're loyal, and you've outlasted multiple competitors, that already sounds like a real achievement to me. My progress was slow for years before things started to really pick up, so don't discount signs of traction if there are some meaningful ones.

Re: Bootstrapping a side project into a profitable seven-figure business

#170

Post by mattfrommars »

Amazing stuff. I think I'm in the boat as you OP except I just can't get myself to commit to a project since 1) no idea if it works or is unique 2) look for better opportunity and spend time doing LC/apply for job.

There is only so many hours after work.

> Once you’ve validated your idea,

Could you really break this down. I feel you overlooked this part. How do you filter through tons of ideas into idea that for sure or has good chance for success. For example, to build a yet another crypto exchange is both super technical and far too regulated. What is a known strategy how founder/dev nail down and commit to a project?

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