This would be in addition to holding down a 40 hour work week full-time job.
I'm working on a book as well, but for the Frontend. I'm very curious to know more about how you marketed this?
I know it's a different niche, but is there any globally applicable advice you'd give?
Would you mind writing a bit about how you got it in the market, do you run ads for it, etc?
Since then I've continued to take pre-orders and have just been doing facebook ads. I expect that when people start getting their books, that will help drive a lot more traffic, and then I hopefully won't have to be so reliant upon facebook ads.
My kids will love it.
How did you take it from idea to production? Do you have a design or print production background?
I am really interested in learning more about this and your journey
No, but in general:
"The desire to get rich fast is pretty dangerous."
- Charlie Munger
What he means by this is that a lot of dumb things are caused by the desire to get rich fast. On average, slow but steady strategies outperform quick but risky strategies. See also the nice book The Dhandho Investor which talkes about placing "heads I win, tails I don’t lose much" bets. And yes, investment advice applies here because the question is about where to invest time (and possibly other resources too).
- Try to used them for a few weeks
- Carefully talk to users and read feedback online about what it doesn't work good
- Build an MVP which solve really well that particular feature and it's 10x easier to use.
- Crete a landing page with Webflow/Umso and try to sell it
Ask your previous employer if they need any work done. You can easily bring in $50k+ by renting our your time.
Friends charge anywhere from $80-250/hr.
If you don’t have a previous employer, then try Upwork. Start with a low rate then work your way up.
This is actually a great idea!
I’ve hired lots of people through Upwork. Most of them have been with me for years and I’d say all have made $5-25k with me annually depending on need.
The trick is to generate leads and have multiple sources for lead generation.
These kinds of problems are found by talking to people, and really digging in. They probably are everywhere.
Full disclosure, however...I bought it (on Microacquire) for ~$100k. But there's no reason I could not have/you cannot build something with similar economics, though you will need to frontload many more hours to get it going.
I have not recouped yet, obviously. Profit margins are like 80-85%. But it’s no riskier than buying a biz elsewhere IMO
I used to think I was pushing the limit when I was working in the UK as an individual contributor and started working with US companies (which I don't recommend, terrible SJW culture and insane workload). Eventually I found European companies are happy to pay as well, you just need to find the right circle and sell your skills well.
I agree it's not as easy as the states and there are a bunch of "bean-counting" roles in Europe. At the same time, you're not living in the states which is a big pro, if you ask me.
If you're looking for something better with a similar climate, quality of life but way more money maybe you should try the north side of Switzerland.
Also, you could have probably done better with job hopping every 2 years, that seems to be the norm to maximise salary raises. When you job hob you try to aim for a 20% raise which probably beats getting 5k every year at your current job.
The general method would be to open a cash back credit card with lucrative bonuses/incentives and then figure out a way to spend money on the credit card yet have it return back to you at a lower cost than the rewards rate.
I am not aware of anyone successfully pulling off that trick at scale anymore. And even if it were possible, I believe it might cause tax headaches.
Gamging credit card sign up bonuses works well for say an international vacation or two a year, but beyond that I'm not sure it's worth the time.
Given your alias that includes the name bitcoin, I tend to believe there are still arbitrage strategies in crypto markets that would meet the goal easier. The problem with both credit card churning and crypto trading is that when the 'alpha' is shared, it's generally competed away -- so successful strategies aren't often shared.
Most of the people that I see pulling in 5 figures from churning are doing a combination of that plus bank account bonus churning. I'm talking about the kind of deal where you put in 200k for a few months and get a 2k bonus - hence the question about how much cash is around. It's a little active but you'll get closer to ~10% APY chasing those bonuses. That is taxed as income, though. Still, it's pretty straight forward on taxes since everything comes in as a 1099.
I also believe there are arbitrage strategies in crypto markets that would meet the goal easier. On the spectrum, though, that's going to be the most tax headache approach.
Happy to share some alpha with you. DM me on Twitter!