3 ms·
I'm looking for people who want to partner on side projects. For the last year or so, I've been trying to grow my business almost entirely by doing partnership
by tonystubblebine 6y ago
I'm looking for people who want to partner on side projects.
For the last year or so, I've been trying to grow my business almost entirely by doing partnerships with people who were looking for revenue generating side projects. So I love this. And also I've learned a lot about people who are doing side projects.
One of the things that I think makes a side project work financially is having two impulses that are maybe really just the same thing.
One impulse is to launch very early. People have all sorts of ways of explaining what this means, things like "Launch when you're still embarrassed."
But I think the better way to look at it is to have a single "job to be done" milestone and launch as soon as you are doing that job. I mean immediately. You can add billing later. You can tweak the design later. You can add a more compelling answer to a different "job to be done" later.
The reason is that you'll be more motivated once there is someone using your tool.
The other impulse starts earlier which is to filter your ideas by whether you have access to early users. Most people with the impulse to start side projects have lots of ideas. So throwing one idea into the trash because you don't already know someone who would pay for it is no great loss. You'll have another idea shortly.
These two impulses are maybe just the YC motto: "Make something people want."
The thing that then let me find a few side-project-people to partner with was that a lot of them are really just looking for the joy of building and maybe don't want to do that work of filtering or finding customers. So I've been able to talk to someone about the world of things they want to do and then filter it down to the things where I think I might be able to plug in distribution and revenue. Basically, I ask myself, can I grow this to $5-10k in revenue inside of three months. If the answer is at least probably, then that's a good idea. I call these bets singles. They are low risk, with good average payoff and we've managed to connect on about half of them.
Sometimes too, I'll have some immediate need too where I can fund the early development and then we can own the project 50/50 afterward. (50/50 is it's own whole philosophical tangent which basically boils down to not knowing at the start who is going to provide the key value that puts a project over the top and so it's better just to optimize for making it easy to start and launch projects).
I'm just starting to talk publicly about this model so I'm not sure if it makes sense yet. I'm not claiming it's optimal entrepreneurship, but so far I like the tradeoffs of working with partners over employees and then also optimizing for things that are useful over things that might IPO.
I'd be really keen to talk to people about this model, either to actually partner or just to explain how you might adopt it yourself. My email is in my profile.