The Side Project, or how I went from $0 to $1K MRR.
It’s been a while since I’ve posted to this blog, but today I am excited to start a new chapter and begin a series on, The Side Project.
“What in the world is he talking about?!”
Glad you asked! I’ve decided to go all in on a side project and want to document the process from start to finish. It’s something I’ve thought about for a long time, and I will put it off no longer.
Like most of you, I read a lot of blogs, listen to podcasts and always dream what it would be like if I were the driver’s seat.
In the spirit of Journey to $500K, the excellent business blog by the good folks at Groove, and the new direction that the boys at Thoughtbot have taken with their Giant Robots podcast, I want to document and share my journey of trying to build a viable business online.
The posts will consist of code, successes, failures, and the resources and products I use. My goal is to build a community to help hold each other accountable in our ventures, and provide usefull feedback to help us all achieve our goals.
Short term goals
My goal by January 1st, 2017 is to have a side project launched and have at least 1 paying customer. As a side project, I cannot devote 100% of my time to it, and we all go through periods of varying activity. I think several months from now is a reasonable expectation to have a product launchged.
Long term goals
As you may have guessed by the title, my goal by January 1st, 2018 is to have a net $1,000.00 in monthly recurring revenue. I can hear a lot of you at there already…
“That’s not really a lofty goal for a year and a half from now…”
You are right! But, it’s also what I consider realistic for a side project, and an extra $12,000.00 a year can make a big difference in most of our lives.
For me, I’d like to use the new money to fully fund my Roth IRA and contribute to our son’s 529 education account. I also think that a $1K MRR business has proved to be viable, and could potentially grow into more, but I don’t want to put the cart before the horse, as they say.
I will post weekly updates on what I’ve done, what I’ve learned, and what comes next. I’m going to blatantly steal from the Giant Robots podcast and answer these questions every week:
- What did you do this week make the business better for your customers?
- What have you done to acquire more customers than last week?
- What did you do well that you should repeat?
- What did you do poorly that you should reduce?
- What do you hope to do by next week?
- What is your MRR?
What can I do to help?
The number one thing to help me is to be engaged, offer feedback, and share with your friends. The only way I can hope to succeed in my goal of learning more and bettering myself is to hear from others. I promise to read all emails, and respond to most.
I’d also love to have you keep me accountable to answering the 6 questions above. If you haven’t heard from me by Friday, find out why!
I want to hear from you! I want to know where you struggle, what you want to hear about, what you think of my idea. Anything you’ve got, I want to hear it.
I have the idea for my product, and that will be shared with people on my mailing list later this week. If you’re not already, please sign-up for the list below.
I’ll be offering exclusive material and engagement with those on the list, and have a couple of other benefits in mind that I don’t want to disclose just yet. I promise to keep your email to myself, and never SPAM you with anything.
Hope to hear from you all soon!