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As a counterpoint, I avoid adding a revenue figure to some of my businesses. Why? There’s certain niches that you can make a killing on for short periods - the
by serjester 4y ago
As a counterpoint, I avoid adding a revenue figure to some of my businesses. Why? There’s certain niches that you can make a killing on for short periods - the last thing I want to do is attract attention.
As an example, during the last refinancing boom I stumbled into an opportunity and a couple weeks later I had an MVP. Very quickly we had customers willing to pay 5 figure sums for our product. There’s no incentive for me to go around bragging and attracting copy cats.
How do I know this? Because I have no shame in launching a competitor if I see someone’s making money and I think I can outcompete them.
As a second point, most indie hackers are cycling through ideas until they either give up or stumble into something. If your business fails, you quickly move on.
Across 5 years you could have tried 10 things and only the last one made money. But it doesn’t matter since business revenue follows a power law. So (theoretically) you retire on the last idea while your batting average remains below 10%. Not necessarily a bad outcome?
Regardless I do agree the overwhelming majority of indie hackers are wantreprenuers that will never make a dime. Just don’t discount the professionals.
- nomdep 4y agoBut how do you know someone is making money?