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I bought a side project from someone else that was doing 2K per month at the time and 4 years later, I have turned it into a 10+ person company (yes bootstrappe
by codegeek 8y ago
I bought a side project from someone else that was doing 2K per month at the time and 4 years later, I have turned it into a 10+ person company (yes bootstrapped so slow but controlled growth and I own 100% of the company). So pretty happy about it. It cost me 60K upfront though which I had saved by working a miserable Wall St. Tech. Job.
I just couldn't figure out how to get out of that routine. I had tons of ideas but could never work on any of them. So I decided to take someone else's validated idea and grow it further. The point was to get STARTED somewhere. Force yourself into it. I forced myself into it by buying that side project and then quitting my job 4 months later. My income went down but couldn't be happier.
EDIT: So a few of you asking how I found the project. It was flippa. Yes, I know it is needle in a haystack. That is where I guess the luck factor comes in. I was just browsing that day and came across that project for sale. It looked perfect for me and I talked to my wife and put a bid. Leap of faith really. I never met the seller but he was an excellent marketer. THe software was crap but he had already built a very small paying audience which I knew could do a lot more.
If anyone is interested, I wrote a blog post on how to buy an online business. Linked on profile.
- sigi45 8y agoWow nice. The first time i heard someone doing what you did. How did you find that project?
- jamisteven 8y agoLiterally in the same position (miserable WS tech gig). How'd you get the grit to make the jump?
- sjg007 8y agoThese miserable WS tech gigs pay well right?
- jamisteven 8y agoYea, the reason most of us stay put for a bit :-/ Typically tech jobs at big IB's and hedge funds pay more than your FB's and Google's of the world, and with way more time off per year.
- hello_moto 8y agoMind if I ask you what kind of work that you guys do? Hardcore Math modelling implemented in C++ or something?
- codegeek 8y agothere is no one way really. I just had enough of it and was lucky to have some money and timing on that flippa project. But I don't consider it just luck. I think of it as me being proactive because I have been browsing flippa type sites for years. So the key is: do something. anything. Even if small. But do it towards your goal.
- HeyLaughingBoy 8y agoI've found this is a/the key to being successful in anything. Just keep working at it even if you're only making small steps forward. Each step gets you closer to the goal and also puts you in a better position to take advantage of opportunities when they show up.
- lionpixel 8y agoCan I ask on which platform you bought the project? Would like to do something similar.
- tehlike 8y agoHow did youfind whay project to buy? Are you active on the project, or going more passively?
- codegeek 8y agovery active. I am not a flipper type of guy. I want to create a real bootstrapped company with hopefully multiple products in the future. This was just the start. I am all in.