72 karma · joined March 3, 2011
1. Starts off with "working on a profitable side project" but then goes into "see what happens."
2. You quit your day job, work 10-20 hrs a weeks with the goal of $500 a month within 3 months. Doesn't sound like a sound biz move if that's the goal.
3. "A side project" denotes lack of commitment to turn it into a business.
I think the process of pulling together a team to make and launch a product from here makes a lot of sense. There's a lot of really smart people on here and that creates a lot of good possibilities.
Would love to do something like this as well. However I'd start it in a different direction. Keep your day job, lets make it into a real business, and we may fail, quite a few times and it may not succeed. Me: Cofounded a web dev company in business for 14 yrs. started a little photo sharing site. Cofounded one of the largest sites in the SEA region. Looking to start other businesses with other like minded folks when the time and product makes sense.
The comment lost its value with that one statement. Was there even info stated by the OP that this was the case? I know a few very high priced restaurants in NY that serve high priced "ethnic" food and the owners are both foreign but NOT from the region the food is from. They're branding is pretty strong.
For our retainer (maintenance) agreements, it's based on a black of time per month. We usually have a few options proposed with one of them recommended. The client determines which tier they go with based on their budget. Otherwise we charge a flat per hr fee (rounded to nearest 15 min). Hourly is more expensive since it may fluctuate from month to month. For our clients having a fix fee means no surprises for them and they get faster support. For us, it's a guaranteed rev per month.
As far as structure it will vary per customer based on their needs.