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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

#61

Post by upen946 »

corry wrote: post #50
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…

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.

Correct. And with everyone adopting cloud, serverless, managed services I wouldn't be surprised if its 90% margin.

Specifically if the architecture is purely written on front end, it would be much cheaper.

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

#62

Post by doc_gunthrop »

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…

Maybe it's nothing to brag about to some, but I'd say it's nothing to scoff at, either. Getting from zero to one is a major hurdle that many (perhaps most) people fail to achieve.

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

#64

Post by d33lio »

cj wrote: post #54
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…

> $1k MRR is nothing to brag about. Going from $0 to any number greater than $0 is an accomplishment IF your product is genuinely something new, where product market fit is unknown. It means you've found a customer. Which is very difficult. Many startups never find even a single customer. Obviously finding your first customers is nothing to brag about if you're mowing lawns, because everyone on the planet is aware th…

I have to side with the poster of the comment you're responding to. If $1k per month is pure profit and doesn't require more than 2hrs per week of work, bravo. However, if it's your main gig and you're dumping anything more than 15hrs a week into it... yeah I don't really see the purpose. You could make more selling "magic" rocks on Etsy.

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

#66

Post by read_if_gay_ »

SAI_Peregrinus wrote: post #53
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…

15$/hr * 40 hr/wk * 50 wk/yr / 12 months/yr = $2500 MRR. Assumes 2 weeks unpaid vacation. And that's assuming $0 expenses, so all revenue can go into your own crap salary. $1k MRR is $6/hr, below minimum wage anywhere in the US. If all you're getting is $1kMRR, you might as well just get a job at McDonalds, you'll have a nice pay raise.

> you might as well just get a job at McDonalds, you'll have a nice pay raise.

What you’ll also have: little opportunity for growth, barely any valuable experience, skills, or learning opportunities, an intellectually boring job, nothing to show off to potential future employers, and you’re giving up working for yourself to sell your time.

And that’s ignoring your massive assumption that all these startups are full time jobs.

What a simplistic viewpoint.

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

#67

Post by hungryforcodes »

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…

This seems like totally random and unfocused feedback. The fact is, for ANY business $1mm MRR is SOMETHING, which could be brought to the bank for a loan to continue business, as well as a proposal to investors. It's a sign that a least at some level your business is WORKING.

I fail to see the point of this negativity.

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

#68

Post by upen946 »

d33lio wrote: post #64
cj wrote: post #54

Earlier quoted context omitted.

> $1k MRR is nothing to brag about. Going from $0 to any number greater than $0 is an accomplishment IF your product is genuinely something new, where product market fit is unknown. It means you've found a customer. Which is very difficult. Many startups never find even a single customer. Obviously finding your first customers is nothing to brag about if you're mowing lawns, because everyone on the planet is aware th…

I have to side with the poster of the comment you're responding to. If $1k per month is pure profit and doesn't require more than 2hrs per week of work, bravo. However, if it's your main gig and you're dumping anything more than 15hrs a week into it... yeah I don't really see the purpose. You could make more selling "magic" rocks on Etsy.

In most case with SAAS, its 90% profits if you grew organically without spending hella lot of money on ads.

Now with everyone moving to cloud and managed services, the infra cost is too less.

If someone is able to automate most things and working like 1 hour a day and still makes $1K MRR, its still good assuming its growing slowly.

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

#69

Post by upen946 »

doc_gunthrop wrote: post #62
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…

Maybe it's nothing to brag about to some, but I'd say it's nothing to scoff at, either. Getting from zero to one is a major hurdle that many (perhaps most) people fail to achieve.

The hardest thing for indie hacker is to get the first sale. I echo with you.

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

#70

Post by d33lio »

upen946 wrote: post #68
d33lio wrote: post #64

Earlier quoted context omitted.

I have to side with the poster of the comment you're responding to. If $1k per month is pure profit and doesn't require more than 2hrs per week of work, bravo. However, if it's your main gig and you're dumping anything more than 15hrs a week into it... yeah I don't really see the purpose. You could make more selling "magic" rocks on Etsy.

In most case with SAAS, its 90% profits if you grew organically without spending hella lot of money on ads. Now with everyone moving to cloud and managed services, the infra cost is too less. If someone is able to automate most things and working like 1 hour a day and still makes $1K MRR, its still good assuming its growing slowly.

I agree, but in 2020 expecting to grow "entirely organically" or by word of mouth without ads is a falsehood. This is honestly one of my biggest qualms with Indie Hackers. They claim that design and marketing isn't needed if you just "try long enough" and tell dev friends about your project. Granted, this depends on your target audience, but if your product isn't targeting developers the calculus just doesn't quite compute.
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