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Tell HN: My Microstartups make $500/day while I'm sleeping

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Re: Tell HN: My Microstartups make $500/day while I'm sleeping

#31
post #10
post #6

Obviously everyone’s path is unique, but could you tell us the most important things you learned along the way? For example, my side project was not built for scale (was just a hobby at the time) and now needs rebuilding. I also wasted too much time perfecting things I thought mattered, but didn’t affect customers.

One thing which worked for me when i look back is, i spend less than 4 weeks to validate an idea, if it got traction, i worked on it more, if it didn't then i moved on. Validate and fail fast.

Can you elaborate on your success rate and how frequently you work on new ideas and retire failed ones? I'm curious how you decide to pursue an idea and how you measure if something is working now that you've done this for a while.

Re: Tell HN: My Microstartups make $500/day while I'm sleeping

#32

There has been a few posts recently on HN where people tell us about their success with side projects/small products that actually make them a decent living. It's inspiring to say the least. What's most attractive to me is the claim that the creators now spend little to no time on maintaining or fixing the products, and it just sits there and makes money. Is this actually a realistic representation? If I just think a…

You need to distinguish between what _can_ be done and what _needs_ to be done. Let go of perfection and only do the necessary, then you can realize maintainance with very little time investment.

This obviously does not work if you feel like all your code's libraries must always be on the newest version because simply keeping several projects' code running with the latest thing is quite a bit of work.

I have a profitable project that is still running on PHP 5 on Ubuntu 14 and it seems that now I finally will have to upgrade things, but it will be a single upgrade now after many years that may take 1 day instead of 20 separate little ones that may have cost 1/2 day each if I always had kept up to date.

Re: Tell HN: My Microstartups make $500/day while I'm sleeping

#33
post #28
post #17

Earlier quoted context omitted.

How would you mostly validate these ideas?

I would always try to do a quick launch, take no more than 4 weeks and launch it on PH, IH, Reddit, LinkedIn. The long term growth strategies are entirely different thing. But you will get basic validation. You are trying to fail fast.

I get that PH is Product Hunt but what is IH?

Re: Tell HN: My Microstartups make $500/day while I'm sleeping

#34

What was your process to monetize these? As to me they seem to be in very competitive verticals.

Its different for different for different microstartup. Everything i did is through organic channels for Visa List it SEO for Apps its ASO. Once i got the users, it was easy to tweak and optimise revenue generation.

Re: Tell HN: My Microstartups make $500/day while I'm sleeping

#35

What was your process to monetize these? As to me they seem to be in very competitive verticals.

Also very curious about this. I went to his websites with the goal of finding out how I could give him money. It was incredibly difficult for Visa List - and all I got to was a buymeacoffee page that couldn't possibly be the only source of income. If OP is making money off of these from users then they could make way more by having an obvious CTA in the nav to give him money.

Thanks for the suggestion mate, Appreciate your gesture.

Re: Tell HN: My Microstartups make $500/day while I'm sleeping

#36
post #28
post #17

Earlier quoted context omitted.

How would you mostly validate these ideas?

I would always try to do a quick launch, take no more than 4 weeks and launch it on PH, IH, Reddit, LinkedIn. The long term growth strategies are entirely different thing. But you will get basic validation. You are trying to fail fast.

[deleted]

Re: Tell HN: My Microstartups make $500/day while I'm sleeping

#37
post #28
post #17

Earlier quoted context omitted.

How would you mostly validate these ideas?

I would always try to do a quick launch, take no more than 4 weeks and launch it on PH, IH, Reddit, LinkedIn. The long term growth strategies are entirely different thing. But you will get basic validation. You are trying to fail fast.

[deleted]

Re: Tell HN: My Microstartups make $500/day while I'm sleeping

#38

Any hints on how others can do this? I am on disability but if I can earn more with Microstartups it would be better.

Not OP, but...completely bootstrapping it?

1) Learn the tools to build your product.

2) Research some product / markets, see what other products are out there. Chasing some noble idea, or "hidden gem" just to gain first-move advantage isn't all that, IMO. It's almost always better to join an existing market where proof of concept has already been done for you. Even better if the existing products are stagnant or lacking.

3) Figure out a business and marketing plan, doesn't have to be the most complex thing in the world - but it forces you to do some research before just diving into something blindly.

4) Start developing your MVP. Reach out to users in the relevant places, which means going to forums, twitter, subreddits, etc. Try your best to get user feedback, iterate your product on said feedback. Any money you get from donations, purchases, gifts, family, whatever should go towards infrastructure and marketing.

5) With enough users, look into how you want to monetize your product. Ads? SaaS? Purchases? Lots of ways, but they all have their pros and cons.

But, to be honest, it's a lot of work for a single developer. Especially if you're not already experienced with all the various aspects. You're basically gonna be doing everything on a smaller scale. Lots of things to learn, lots of things that can go wrong.

And importantly, it can take years to build up a userbase large enough to live off the project. Sometimes you never grow to that size, and the product life-cycle has peaked, on its way downwards.

The people that do this kind of stuff, have tried and failed multiple times before. But there's always something to learn, which you'll take to the next project.

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