1–10 of 27 posts
I don't want that. I want to escape my 9-5. Reach financial independence. I don't care about expensive cars, houses with multiple rooms I won't use.
I just want to work for myself and live my life.
How do I do that?
Skill set: Average Developer, understand marketing, SEO, exceptional Project Manager
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.
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.
What's your definition of medium sized?
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.
What is the monthly take home income (after tax) you aim for to be comfortable enough for your lifestyle
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 many factors). You may even find gems for less than 3X multiplier.
3. Start a "Service" based freelance business but offer a specific skill. For example, "I will help you host wordpress sites for $x/month and fully manage it for you". Charge a flat monthly fee. Kinda like Step 1 but "service" based instead of "product" based. The trick is that you don't deviate too much from the scope otherise it will be difficult to do it as one man show and you will end up going towards a "agency" type model.
4. If you are really good at something and have the skills to create a good tutorial, start something like https://www.laracasts.com and provide solid content regularly to your subscribers. Charge a flat fee per month.
All these 4 things are extremely difficult to start with BUT very possible to do. I have done #2 myself fyi and already grown it 6 times in 2 years.
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…