$1k per month? Is that revenue? Doesn't sound like it's doing too great.
For example, rent in Michigan for a three bedroom apartment is about $1,200 a month [1], meaning your rent would be $400. Let’s say you spend $200 a month on groceries, and spend $400 a month on insurance, gas, bills, and other mandatory expenses.
Congratulations: you’re short term net financial neutral!
In theory, as long as your acquisition rate is neutral or positive compared to churn, you now live for free, without a boss and without an expectation of a 40 hour workweek. In theory, you can now retire. In practice, you can grow revenue, and nothing’s stopping you from starting business two and increasing your “retirement’s” margin.
For the right person, these conditions are life-changing.
[1] https://smartasset.com/mortgage/the-cost-of-living-in-michig...
Right. Also, it's not very obvious, but it looks like the creator is from Australia, likely lives there (as the address listed in about page is also an Aussie address).
Not sure about Cost of Living, but definitely gotta be less than Bay Area / Silicon Valley...
James ( Jimmy?), if you are reading this, you might wanna update your about page with some story about you (builds trust), instead of a testimonial from a random user... https://contentsnare.com/about/
Cost of living in Australia isn't always great (real estate close to Sydney is nuts, and there was even a brief period where SF looked like a bargain a few years ago). But Brisbane isn't that bad.
And for some context, I currently can't hire any mid-to-senior software developers in Sydney for less than $150k/year package.
[1] https://www.businessinsider.com.au/average-australian-weekly...
But can't ignore this. Removed testimonial and will update on Monday.
Cheers guys
Oh and yeah, 1k in Australia buys you a couple of pairs of socks and some McDonalds
(only half kidding)
Plus expensive power, fuel, telecommunications, food, etc due to oligopolies in each of those spaces.
What I'm getting at, is that $1000/month doesn't go very far in any of our capital cities (and most people here live in or directly around our capital cities).
Melbourne and Sydney maybe, but Brisbane is drastically cheaper. When I was studying in Brisbane a few years ago my rent was in the ballpark of $300-400 AUD per week for 2-3 bedrooms, even at the higher end of $400/w that's only $1700AUD/m. You can even buy a two bedroom apartment for under $300k in Brisbane, compared to the $1m or more the same would run you in Sydney or Melbourne.
In contrast, when I graduated and moved to Sydney for work we lived a similar distance from the city as we did in Brisbane and yet were paying $500/w for 1 bed and much less total room.
I suspect Darwin, Perth, and Hobart are similarly cheaper. Generalising and saying all our capitals are expensive is incorrect, though I can understand why perceptions are driven by what happens in Melbourne and Sydney since nearly 50% of the population lives in one or the other.
And the populations of the regions around those three cities makes up more than half the population of Australia.
Getting from $1k to $10k/month is much easier. You have momentum, traffic, and some authority.
It's been a pretty hard slog to get from 1k to 5k but something seems to have happened in the last month and growth has ramped up considerably. Wish I knew what actually caused that ¯\_(ツ)_/¯
If you launched an hour ago and you have $1k/mo run rate that is mind blowing.
If you launched a year ago, its decent.
If you launched 10 years ago, its abysmal.