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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

#31

Post by upen946 »

carnivor wrote: post #30

I've seen a similar website before with IndieHacker or ProductHunt verified revenues (forgot which). Maybe I missed it here but how are these reoccurring revenues verified, and as others mentioned here, are they audited?

As mentioned in my other comments,

Yes. This is all real data. No false data. All data taken from various sources like stripe, paddle, baremetrics data. Only thing to note is - this is before expenditure deduction.

Its revenue. Not profit. But with most of these typically sass and lean startups, I would say 80%-90% would be profits, may be.

Re: Startups that have hit more than $1K MRR in about 12-24 months

#32

Post by bkovacev »

In 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.

Re: Startups that have hit more than $1K MRR in about 12-24 months

#35

Post by callamdelaney »

bkovacev wrote: post #32

In 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.

If Zuckerberg said that because myspace existed, where would he be?

Re: Startups that have hit more than $1K MRR in about 12-24 months

#36

Post by upen946 »

bkovacev wrote: post #32

In 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.

I agree with your vitamin vs painkiller analogy.

There are successful products that started catering to a finite set of audience and still making a lot of money.

For example, one from my list is ChurchCo making $45K/month just by doing websites for Churches. Can you believe?

So, just by picking unique features and niching down the audience, you can still place a safe bet without spending a few years and hundreds of dollars.

Re: Startups that have hit more than $1K MRR in about 12-24 months

#37

Post by segmondy »

$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 startup and 100% vested in it, even $10k a month isn't impressive after 24 months. MY OPINION. 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.

Re: Startups that have hit more than $1K MRR in about 12-24 months

#38

Post by upen946 »

throw03172019 wrote: post #27
sho wrote: post #6

Wow. There's a lot of projects here that must have taken a lot of work - and look really good - but the MRR is just dismal. There's one there that's pretty close to a side project of mine - not even a grand. Somewhat offputting. Does this mean that many of these projects could stand to put a lot more effort into sales? Would that make a reliable difference? Or is it really just this hard? Or a bit of both? I feel lik…

Depends on what the price point is. I don’t think it makes sense to do sales for a product under $49-99/mo. Huge time sync. Better off marketing self service and scale from there.

In my view, until you make $500-$1K MRR, do it safe without burning a lot of money. Once you hit your sweet spot of $1K MRR, doubledown on sales/marketing either by brining in someone or allocating more time yourself.

Re: Startups that have hit more than $1K MRR in about 12-24 months

#39

Post by upen946 »

callamdelaney wrote: post #35
bkovacev wrote: post #32

In 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.

If Zuckerberg said that because myspace existed, where would he be?

Perfect example. There couldn't be a better example.

Re: Startups that have hit more than $1K MRR in about 12-24 months

#40

Post by amelius »

segmondy wrote: post #37

$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.

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