I will be creating one startup each month until they will reach $1,000,000 in total income. Once I reach that I will stop creating new startups and focus on existing ones.
The rules are simple:
- Each month create a semi-automatic, MVP style Startups, that can run without much maintenance
- I will invest no more than $500 of my own money distributed between those startups each month. I can re-invest the revenue though (without going crazy). Re-invested revenue do not adds to income goal.
- I assume income is anything that I take from Startups and do not re-invest or use to pay hosting, license etc. fees.
- My time costs $50 per hour spent on developing, marketing and running startups. This will be added as a cost. The cost “adds” to income total.
- I will be posting income reports each month with all the data, like user and traffic stats, revenues, income and technologies used.
- I will try to post a blog post each week with either details regarding my work progress, or useful things. I will try to write about my experiences, hacks and struggles, so others can learn from it.
- All startups will be web-based and will require no physical presence.
Why I am doing it?
During my life I was few times in a really tough spot and I have learned that helping others let us help ourselves. I feel that my knowledge, skills and will to build greater things is dusting because of me focusing on less important things. After traveling world, working with giants like Dell, IBM, PwC and Symantec, I want to move ahead and give. I have observed magnitude of potential entrepreneurs and seen that they would forfeit their dreams, because they were mis-informed, scared and feeling like walking in the dark. I hope that this blog will shed a bit of light, real live light that will help some people. I hope that I will manage to help at least one person.
The shadow cabinet.
While I will be donating my own time to this project, I will be hoping to actually, at least at the beginning, get some contracts thanks to visibility of this blog. I need one proper contract each month to be able to focus on creating startups. Unfortunately I do not have savings large enough to sponsor me through this journey, so I will need to work until my startups can sustain my life. I can probably invest around 100 hours a month in to regular development time and 100 hours a month in each startup I create. Hopefully the proportions will change soon.
While I assume there will be a lot of skepticism – I think I am experienced enough to get this journey to the end.
Creating one project each month is not to much for seasoned developer (we do this all the time for customers). Coming up with ideas? I was fortunate enough to start as a humanist and marketer, so ideas are not a problem to me. During last 6 months I have created over 50 startup ideas, that I have filtered down to around 5.