Tell HN: I made $1000 with my app and now making $500/mo

Re:Tell HN: I made $1000 with my app and now making $500/mo by moosedev on Wednesday May 25, 2022 @02:50PM (#31508860)

Without taking anything away from OP's achievement, I'd caution against this kind of exuberant comparison without some qualification around it. The risks to that app's continuing to yield $500/month in perpetuity are quite different (and, I dare say, worse) than the risks faced by the kind of balanced portfolio that "safe withdrawal rate" implies (to me). I acknowledge that you didn't directly compare with such a portfolio, but you did say the app is "the equivalent of saving $150,000" - again, if this is true it's in a very limited sense only: the app and the cash face a very different set of risks.

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Re:Tell HN: I made $1000 with my app and now making $500/mo by xbar on Wednesday May 25, 2022 @03:01PM (#31509026)

This is fair, but as a milestone in long-term self-sufficiency, creating a $500/mo app is significant achievement.

Saving $150,000 is, too.

Which is more likely to lead to true self-sufficiency? Barring other possibilities, the savings. But given human response to positive feedback loops, a successful dev often becomes a more successful dev overtime. Hence, I favor the "first app I wrote that made $500/mo" is more significant.

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Re:Tell HN: I made $1000 with my app and now making $500/mo by xwdv on Wednesday May 25, 2022 @03:21PM (#31509281)

Didn’t really want to go down this route but since you guys wanted to I would also point out the OP likely hasn’t been making $500/mo for a full year yet so to make that kind of projection is premature. I think at best he will make that for a few months then it will taper off within the year as the app gets less popular.

You can’t just say your app makes $500/mo without giving the time period for how long it has been making that. Generally if it’s not revealed it’s because it hasn’t been very long.

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Re:Tell HN: I made $1000 with my app and now making $500/mo by strongpigeon on Wednesday May 25, 2022 @03:37PM (#31509477)

The app made $300 last month and $500 this month. It indeed hasn't been very long, and I agree that $500/mo is a bit of a generous take. However I do plan on adding extra paid features which I think will push that even further.

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Re:Tell HN: I made $1000 with my app and now making $500/mo by ghostbrainalpha on Thursday May 26, 2022 @07:46PM (#31524616)

I don't even know what 5/3/1 is but I was planning on joining a gym this month, so your getting my signup.

For the SEO could you go after Gym Noobs like me who know nothing about different programs, teach them what 5/3/1 is and then lead them to your app? Or is that too crowded and difficult?

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Re:Tell HN: I made $1000 with my app and now making $500/mo by strongpigeon on Friday May 27, 2022 @10:45AM (#31530255)

That’s a good idea. Basically having a blog saying what 5/3/1 is. It’s a narrow line to walk on as I didn’t write the book and want to respect the author, but I think that I could probably do something like that.

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Re:Tell HN: I made $1000 with my app and now making $500/mo by ghostbrainalpha on Wednesday June 01, 2022 @07:47PM (#31589587)

Have you reached out to the author? Since you have the best app maybe he would want to make you the "official app" for a revenue share. And his promotion of your app could grow the pie big enough that you make more even with a split.

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Re:Tell HN: I made $1000 with my app and now making $500/mo by meetups323 on Wednesday May 25, 2022 @04:02PM (#31509791)

The market is massive, play your cards right and this could be just the beginning. Do you speak to users in person much and have an idea of what people want?

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Re:Tell HN: I made $1000 with my app and now making $500/mo by strongpigeon on Wednesday May 25, 2022 @05:19PM (#31510707)

I speak to a couple of users directly through email. An Apple Watch companion seems to be what people want the most so that’s what I’ll be working on next

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Re:Tell HN: I made $1000 with my app and now making $500/mo by dapids on Saturday May 28, 2022 @11:27AM (#31541035)

So basically you have no idea.

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Re:Tell HN: I made $1000 with my app and now making $500/mo by maximus-decimus on Wednesday May 25, 2022 @04:35PM (#31510190)

Mandatory XKCD on the dangers of extrapolating : https://xkcd.com/605/

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Re:Tell HN: I made $1000 with my app and now making $500/mo by sjburt on Wednesday May 25, 2022 @03:46PM (#31509597)

I think a better comparison is what similar apps would sell for. 2-4x annual revenue seems to be common. So $12-$24k which is not bad!

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Re:Tell HN: I made $1000 with my app and now making $500/mo by DeathArrow on Thursday May 26, 2022 @12:51AM (#31514725)

Since $500 are almost 100% profit, I guess OP can sell it for about $30,000 which is not bad at all.

I made the valuation at 5x yearly profits.

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