Screw Passive Income, I Want Active Income • Hacker News Board

Re: Screw Passive Income, I Want Active Income

#11

Post by codegeek » Fri, Aug 26, 2016, 11:25 PM UTC

kevinrpope wrote: post #10

codegeek wrote: post #9

Some options: 1. Build a product (SAAS) in a niche domain. Charge between $50-$100/Month. Get 75 customers. 2. Buy an existing SAAS in a domain that you have interest in (experience a bonus but not required). It should bring in profits of 5k/month (give or take). If the business is rock solid and at least 3 years old with a sustainable rate of revenue, then expect to pay 3X (3 years of profits) upto 5X (depends on ma…

Where did you research sites to buy? Places like flippa seem sketchy, though I remember patio11 recommended feiinternational.com when he sold his business.

Yea i found one rare gem on flippa. Feinternational is also ok but both are limited. Flippa is mostly low end and fe is mostly 50k or more range. Honestly, look for word of mouth if possible too. Niche online communities are a good way to find potential sellers/sales

Re: Screw Passive Income, I Want Active Income

#12

Post by vi1rus » Sat, Aug 27, 2016, 12:19 AM UTC

codegeek wrote: post #9

Some options: 1. Build a product (SAAS) in a niche domain. Charge between $50-$100/Month. Get 75 customers. 2. Buy an existing SAAS in a domain that you have interest in (experience a bonus but not required). It should bring in profits of 5k/month (give or take). If the business is rock solid and at least 3 years old with a sustainable rate of revenue, then expect to pay 3X (3 years of profits) upto 5X (depends on ma…

This is a pretty good set of options. Especially the first option broken down by customers / price.

Re: Screw Passive Income, I Want Active Income

#13

Post by AznHisoka » Sat, Aug 27, 2016, 12:34 AM UTC

chatmasta wrote: post #3

Find an SaaS in a medium sized market where most competitors are one man shops with low switching costs for customers. Replicate the best competitor, improve on features, and undercut prices. Identify their advertising channels and insert yourself into the mix.

Offering proxies as a service is a great example of this. As well as most Wordpress plugins.

Re: Screw Passive Income, I Want Active Income

#14

Post by taprun » Sat, Aug 27, 2016, 2:15 AM UTC

kevinrpope wrote: post #10

codegeek wrote: post #9

Some options: 1. Build a product (SAAS) in a niche domain. Charge between $50-$100/Month. Get 75 customers. 2. Buy an existing SAAS in a domain that you have interest in (experience a bonus but not required). It should bring in profits of 5k/month (give or take). If the business is rock solid and at least 3 years old with a sustainable rate of revenue, then expect to pay 3X (3 years of profits) upto 5X (depends on ma…

Where did you research sites to buy? Places like flippa seem sketchy, though I remember patio11 recommended feiinternational.com when he sold his business.

I think you meant http://feinternational.com right?

Re: Screw Passive Income, I Want Active Income

#15

Post by wwalser » Sat, Aug 27, 2016, 6:57 AM UTC

Here is a good podcast on this subject: http://thestartupchat.com/ep126/

A significant number of the self-funded startup people that I come across used the stair-step approach that's described in the podcast.

Re: Screw Passive Income, I Want Active Income

#16

Post by bbcbasic » Sat, Aug 27, 2016, 9:49 AM UTC

We're working towards that by paying the mortgage of asap. Just boring old living frugally while trying to maximise income. One twist is to rent our place out and rent somewhere cheaper.

Re: Screw Passive Income, I Want Active Income

#17

Post by bbcbasic » Sat, Aug 27, 2016, 9:49 AM UTC

We're working towards that by paying the mortgage of asap. Just boring old living frugally while trying to maximise income. One twist is to rent our place out and rent somewhere cheaper.

Re: Screw Passive Income, I Want Active Income

#18

Post by jordansmith » Sat, Aug 27, 2016, 5:14 PM UTC

Honestly, I slowly moved away from being a developer. Anyone with an idea can hire a developer to make their SaaS project, or whatever the idea is. The money is in the marketing of the project.

I switched to affiliate marketing and making ecommerce stores. Less time developing and more time just selling. Facebook Ads & Instagram are a godsend.

This is both active and passive income. Once things are rolling you can hire a VA for super cheap to make sure things keep running smoothly. This lets you take time off while keeping keeping the machine running. If you want to be active you can push out new products, niches, and just scale what is already working.

Re: Screw Passive Income, I Want Active Income

#19

Post by tedmiston » Sat, Aug 27, 2016, 5:23 PM UTC

Become a founder building projects that scratch your own itch. The 37signals (neè Basecamp) guys have written quite a bit about this.

Consulting is probably a faster way to financial independence than founding is, but founding is more about lifestyle independence, which seems important to you too.

Re: Screw Passive Income, I Want Active Income

#20

Post by csallen » Sun, Aug 28, 2016, 6:17 AM UTC

Check out my site: IndieHackers.com. There are some great examples there. After conducting the interviews found there, I agree with people who emphasize marketing over development. You need to work on something that solves a well-defined and valuable problem for a segment of people, and you need to know channels through which you can share it with these people.