Live data from Hacker News

How I Built a $5K a Month Side Project

campfirelabs.co

71–80 of 261 posts

Re: How I Built a $5K a Month Side Project

#71

I created a successful side project back in 2014. It is still running and making 20 times more than I would get with a normal job. But i was lucky. Lucky to be born in a rich country. Lucky because I was given a computer at the age of 5. Lucky because I had unlimited education opportunities. Lucky because I had a friend who gave me access to something I needed for my business. And many other lucks. I will never deny…

I worked for a mom + pop Amazon seller (manufacture + ship from China to America, stick packaging on it, send it in to Fulfillment by Amazon, collect a check) He's probably worth $50m as one of the top 250 sellers. Probably ~20 SKUs. Tons of competitors trying to bring him down but his product has so many reviews that it is just a money printer. He was smart to be at the right place at the right time. He undercut the…

This is a very common belief amongst successful people. In fact, you might recall a few years ago in US politics there was this big "I Did It" thing where successful business owners defiantly claimed they earned their successes without the help of anyone (or any publicly funded infrastructure).

I'm sure sociologists have a name for this, but to me it represents people who have a big hole to fill regarding self-worth. By believing they accomplished something because they are extra-uniquely special is a way to try to fill that hole.

If you take a formerly successful person and have them start over, their stature (titles, money, contacts) can often give them starting benefits that can indeed make their following ventures successful - or at least more likely successful than if they had started with little more than their skills.

There are old, wealthy people who have made a life out of repeating "successes". Some find their way into positions of great global power, and they unfortunately believe they know more than anyone else (and will state such without any shyness).

Re: How I Built a $5K a Month Side Project

#72

Earlier quoted context omitted.

I worked for a mom + pop Amazon seller (manufacture + ship from China to America, stick packaging on it, send it in to Fulfillment by Amazon, collect a check) He's probably worth $50m as one of the top 250 sellers. Probably ~20 SKUs. Tons of competitors trying to bring him down but his product has so many reviews that it is just a money printer. He was smart to be at the right place at the right time. He undercut the…

I am curious. I live in a place where ecom is just taking off. While there are lot of brand dependency I see a chance to actually to do private/white label stuff. So curious if you know some tips on how to get started on Amazon FBA.

Unsolicited random suggestion I would do if in your position: Find the most popular household/kitchen item being sold on amazon - and whitelable that.

And source the most popular kids items from Alibaba and use language to market it to whomever your locale is.

Re: How I Built a $5K a Month Side Project

#73
post #16

I created a successful side project back in 2014. It is still running and making 20 times more than I would get with a normal job. But i was lucky. Lucky to be born in a rich country. Lucky because I was given a computer at the age of 5. Lucky because I had unlimited education opportunities. Lucky because I had a friend who gave me access to something I needed for my business. And many other lucks. I will never deny…

In hindsight, all these stories seem to have a clear thread running through them which can be replicated by anyone with reasonable intelligence, drive, and time. In practice that particular thread likely required all kinds of environmental details to occur - details the entrepreneur might not have noticed at the time, might have forgotten about later, or might be discounting as unimportant.

It’s immensely easier with hindsight. Everything’s laid out right in front of people. This is like a sports fan sitting at home saying, “How could they miss that? I could see it right here. Even I could do that.” The difficulty is deceiving when it’s all seeing and no doing.

Re: How I Built a $5K a Month Side Project

#74
post #27

Earlier quoted context omitted.

Replying for mike2477 who wrote the article and responded to this post, but his comments are dead. Mike - it looks like you got shadow banned, but it’s not clear why? Maybe dang can help.

I vouched for the dead comments. The story might need to have a missing date on it (4 years old?), but the two comments that the author of the post made don’t seem to violate the terms or spirit of HN rules. If someone can show me how the rules were broken in his comments, I will gladly unvouch.

Maybe because it’s advertising, wrapped in an old article.

Re: How I Built a $5K a Month Side Project

#75
post #71

Earlier quoted context omitted.

I worked for a mom + pop Amazon seller (manufacture + ship from China to America, stick packaging on it, send it in to Fulfillment by Amazon, collect a check) He's probably worth $50m as one of the top 250 sellers. Probably ~20 SKUs. Tons of competitors trying to bring him down but his product has so many reviews that it is just a money printer. He was smart to be at the right place at the right time. He undercut the…

This is a very common belief amongst successful people. In fact, you might recall a few years ago in US politics there was this big "I Did It" thing where successful business owners defiantly claimed they earned their successes without the help of anyone (or any publicly funded infrastructure). I'm sure sociologists have a name for this, but to me it represents people who have a big hole to fill regarding self-worth.…

>I'm sure sociologists have a name for this, but to me it represents people who have a big hole to fill regarding self-worth.

Fundamental attribution bias? "Everything bad that happens to me is because of external factors beyond my control. Everything bad that happens to you is your fault." And the opposite: "I'm skilled, you're just lucky."

Nothing teaches this better than a game of Dota2.

Re: How I Built a $5K a Month Side Project

#76
So how did he got customers?

> As I mentioned, my first lead/opportunity came from an introduction. That was made possible when I took a couple friends (who are salespeople) out for drinks to tell them what I was working on. Afterwards they both said they would try to think of people to refer me to.

> My next two customers came from a less obvious channel. A friend told me about a service called Growth Geeks and suggested I create a profile for my service. I was hesitant at first because it seemed like a distraction, but I signed up nonetheless.

So basically he sent an email to the founder of that website like this https://static1.squarespace.com/static/5706d181b09f95e331b21... saying that the author (a bit confusing to figure out as both are called Mike/Michael) can grow your sales with no marketing.

Then this happened:

> He responded that day and asked if I had time to speak on the phone.

> On the call I learned that he had a customer who needed 2,000 leads a month and they needed 2,000 leads a month for themselves. I used the same sales process as my first call and closed two deals in 30 minutes worth $3,000 / mo (25% of the $4,000 in revenue went to Growth Geeks). Suddenly I went from $1,000/mo to $4,000 / mo.

My question is now, how he manages to make 4k leads?!

> Later that week I decided it was time to double down on this side project. I spent a couple nights writing email templates and planning outbound email campaigns. By May of 2015 I had sent over 30,000 sales and marketing emails so I knew how to get high response rates (see play #1).

So now he says he sent over 30000 emails (I assume he has a mailing list of 30000 and sent an email, but that doesn't match what he says, he seems to have sent multiple emails). So let's say he has 30000 email list and a click-through rate of 13.3% (which I think is very very high, maximum I got was around 3-4% and was only once) then he would make 4000 leads.

First thing I think is strange, is how he got 30000 emails? That's kind of the most important part of the guide, without this he couldn't make any lead.

Then he says this:

> I sent emails to about 500 people over the course of a month which resulted in ~20 free trial sign-ups. Two of those free trials converted within the month and by the end of June, I had $5,000 in booked MRR.

Note that this is another customer acquisition source. So he has an additional 500 emails.

I mean how can a person reproduce this guide without these mailing lists?

So even if he says how he did it, you can't really do the same unless you have:

- Friends that can sign up for your product or refer other people - Big email lists - Create leads from ???

I feel like all these missing points leads directly to his startup https://getsimpledata.com/ - So I guess is more about marketing.

Anyway, I think the post was interesting, but not too much I can do about it because I probably know about:

- Focus on a problem that already exists - Work on your pain point - Outsource to a cheap country - Positioning in the market

Some types for the author: Philipinnes

Re: How I Built a $5K a Month Side Project

#77
The truth is, there is no 5-10 hour work week for 99% of people. Even if you make something like this person did, if you don't continue investing a lot of time into it, eventually competition will break you to pieces. Why? Because your competitor is hungry and working a lot more than 5-10 hours a week.

I know this, because I've built two side income businesses, sat back and collected money only to find competitors had taken me over. They weren't big by any means but the $3,000 a month I made off one and the $1,000 a month off another was quite nice. I could've quit my job and traveled, but instead I paid down my mortgage and banked/invested the rest. This left me with a lot of money (for me). I eventually sold both businesses when I saw the writing on the wall with various competitors and industry changes.

I did end up traveling for a while though. I did that with a remote job. Sure I had to work during the day, but that left plenty of time to explore whatever city I was in at night and do bigger adventures on the weekend.

TLDR; 5-10 hour work week doesn't last.

Re: How I Built a $5K a Month Side Project

#78
post #62

Earlier quoted context omitted.

What is this new trend of belittling accomplishments down to luck? At the very least, thousands of people had the same opportunity to do what your boss did. And that's if we take your word that this is all he did, and he didn't negotiate at all or spend any time researching what products to sell, or take a loss in the beginning to provide good customer service for future gain. Even seeing the opportunity is a skill i…

I don’t see how it’s belittling to acknowledge luck as a factor among many in success while also acknowledging the non-luck factors. You can be proud of your accomplishments while still acknowledging the influence of luck your success.

I think it's the difference between what comes first, the work or the luck and what's the dominant force.

If you study hard and get good grades, you might find yourself in a position where someone needs to hire for a role that you're already prepared for. Sure, there's luck in bumping into that person, but you worked hard to be able to take advantage of opportunities, so I'd say luck had very little to do with your success. If it wasn't this lucky break, there would be another one.

If you brush off school and happen to get hired by a boss that could care less if you do work of any quality, that's mostly luck and probably not repeatable.

Sure, Gates and Bezos experienced luck during their careers, but I'd be willing to bet that the dominant trait in their growth was hard work and intelligent decision making. Some people like to think of them as happening to be in the right place at the right time, but I think they worked hard to prepare themselves with the skills necessary to see those massive opportunities and were obsessed with moving as fast as possible towards their goals.

Re: How I Built a $5K a Month Side Project

#79

Goes into good details about the tactics used to come up with an idea and then recruit the first few customers. After signing up $5k/month revenue it meant he needed to generate 5,000 leads per month for those customers. That is the hard bit, how did he do that on a side project? He says that the income was passive, so how did he generate 5,000 targeted leads passively? That is the magic, not the ability to recruit s…

Based on when this product was created, I can almost guarantee they are just manually scraping LinkedIn (plus a few other places - Facebook, twitter, Bloomberg, maybe even Pitchbook). There are custom Google search portals you can use to search LinkedIn via keyword that not everyone knows about. From there one can use a bunch of services that will provide you (mostly)valid emails at various companies. I imagine he ma…

This is the problem with articles like this, they never really go into specifics. Generally fluff. Look at me I did this, but I won't give any specifics how except for vague self-help pamphlet jargon like "Monetize your brain".

Re: How I Built a $5K a Month Side Project

#80
This project is shady as hell.

I am making better money working at FAANG for relatively ethical work better by hundreds of lawyers and moral force.

I just look down on these people who have no programming skill to get paid higher at top companies.

Resorting to cheap tricks at us.

Post reply on HN