Niall Doherty's Blog, page 66

She Built a $33K/Month Side Hustle in Only 4 Years

Chisom OkwulehieCo-founder of Juntero $400,000 annual revenue Published May 23, 2024 by Fardeen KhanReviewed and edited by Niall Doherty

Chisom Okwulehie is the co-founder of Juntero, a productised interior and graphic design company

Per a recent interview, she started the business with her husband and in 2021…

I made about $55,000 that year and over $200,000 the next. Then, in 2023, I exceeded $400,000.

Back in 2017…

I started working at the Port Authority of New York and New Jersey, where I design and manage infrastructure projects.

She’s still working that 6-figure job while running Juntero as a side hustle

Chisom’s motivation for starting her own thing…

At the height of the pandemic in 2020, I’d had my first child and was told we wouldn’t receive a merit-based pay increase at work, so I wanted to find ways to supplement my income.

How she decided what to focus on…

I watched a lot of YouTube tutorials to prepare and experimented with my different talents — web design, photo editing, graphic design, architecture design and interior design. People gravitated towards my architecture and interior design services.

Initially for traction…

it all started with me taking on small projects on different platforms and charging as little as $20…

I kept my prices low to build a portfolio and accumulate strong testimonials. That credibility is the greatest currency and helped me increase my visibility; for every 10 pieces of positive feedback, I’d raise my hourly rate by $20. Eventually, I learned not to trade my time for money and switched to fixed rates.

Then

Near the end of 2021, I realized that I couldn’t help as many clients as I wanted, so I had to put my ego aside and trust other people. I started hiring other designers on a project-based model. They’re not employees; they’re contractors. So, since 2022, I’ve outsourced more than 90% of the work.

Juntero now charges from $4-10K per month for their interior and architectural design services.

Pretty incredible that Chisom has been able to build such a business while still working a day job and being a new mom

She mentions 3 things that seem to be the keys to her success…

If you have the patience, due diligence and organization skills, you should figure out ways to monetize your talents.

My key takeaway here though is how she started out charging $20 per project, and now just a few years later she’s pulling in $400K/year

Big things can come from small beginnings.

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We treat all income claims we find online with skepticism.We don’t report incomes that seem especially controversial or unrealistic.We cite our sources and/or share our calculations so you can see where the numbers come from.If there are uncertainties about an income claim or estimate, we tell you what those are.

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$120K/Year Being The Help He Didn’t Have

Stephen SteersSales Consultant $120,000 approximate annual revenue Published May 20, 2024 by Fardeen KhanReviewed and edited by Niall Doherty

Stephen Steers is a sales consultant who has “consulted, advised and led workshops for more than 750+ companies from 30 countries”

In a recent interview, he reveals…

Consulting revenue can be streaky at times but it averages out to about $9-10k per month with 70+% profit. Consulting is good business – especially for part time.

How Stephen got started…

I worked as a sales rep at a startup in NYC. I chose to take a bottom-of-the-barrel sales job so I could learn the ropes and what it took to build a business. Even at that early stage, I knew that if you have sales, you have a business.

Unfortunately, that company struggled and Stephen was laid off

He felt support was lacking at that job and it inspired him to become a consultant…

my goal became to help founders to be stewards of their sales reps’ careers. This feeling inspired me to start the business. I now had a mission: To be the help that I didn’t have.

Stephen started consulting on the side in 2015 while working another full-time sales gig.

How he found his first clients…

I made it known to folks in my NYC startup network that I was looking to do consulting. I dipped my toes in the water with some consulting projects. I didn’t care if they were free. I just wanted to get going. I gave advice, networked, and built things to get my sea legs. I didn’t go full-time until the fall of 2019.

Nowadays, paid groups are key…

The most fruitful strategy for my business is joining paid networking groups. BY FAR…

I’ve made great friendships from my groups. I have CEO friends of 8 and 9-figure companies… Oh yea, they throw a few referrals my way every once in a while as well.

Stephen’s business went through a rough patch during the pandemic…

There were a few months where zero dollars came in. Luckily I’d saved some funds and six months of runway. The stress started to mount inside my apartment and out, so I decided to do something drastic…

I moved to Playa del Carmen, Mexico to wait things out.

It was one of the best decisions I’ve ever made. As a sign from the universe, I hit the highest earning month of my career shortly after my move.

Two ideas from Stephen’s story

First, what hard-earned experience or skill have you developed?

Could you now “be the help you didn’t have” and become a consultant like Stephen?

Second, if you’re struggling to find clients, consider joining a paid group relevant to your industry. 

Even better if it’s an offline group, where you can meet other members in person

First time seeing our Online Money Maker profiles? Click here for a quick intro.

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Our goal at eBiz Facts is to give you accurate information about online business so you can gain clearer insights, make better decisions, and achieve your own success.

With that in mind, we strive to ensure the accuracy and transparency of the income claims and estimates that you see on this website.

Here’s how:

We treat all income claims we find online with skepticism.We don’t report incomes that seem especially controversial or unrealistic.We cite our sources and/or share our calculations so you can see where the numbers come from.If there are uncertainties about an income claim or estimate, we tell you what those are.

If you see an income claim or estimate that seems off, please tell us so we can fix it.

Is this kind of business right for you?

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$6000/Month From Her Niche Crochet Blog

Arunima GoelFounder of KnitterKnotter $6000 monthly revenue Published May 20, 2024 by Fardeen KhanReviewed and edited by Niall Doherty

Arunima Goel is the founder of KnitterKnotter, a website all about Tunisian crochet

In a recent interview, she reveals…

On average, I make around $6,000 per month, with most of it coming from pattern and course sales.

The origin story…

I learned how to crochet when I was in high school but I didn’t really do much with it until about 15 years ago, when I picked it up again and re-taught myself using YouTube videos.

Then…

KnitterKnotter happened by accident, when my husband and best friend encouraged me to share my crochet work with others.

I’ve been a full-time crochet designer for a little over 5 years now. I focus on Tunisian Crochet, which has been picking up in popularity lately.

Arunima started sharing her work on social media, and her audience began to grow

Before she monetized…

The next step was to pick a niche, and I found that the crochet community had a lot of well-established designers. Finding an audience in that space would not be impossible, but it would be very hard, so I decided to focus on Tunisian Crochet instead.

To make money…

I considered selling crocheted products, but I quickly realized that it wasn’t a very scalable business model, so I shifted my focus to creating and selling crochet patterns instead.

However…

I didn’t make any money for the first 3 years, but the business has grown significantly in the last two years.

To the point that it’s now a $6k/month business

Arunima’s main marketing strategy is…

… building relationships and keeping customers engaged. Repeat customers are most valuable to me. I focus on connecting with my audience as much as possible…

One strategy that has been very successful over the years is to host a yearly crochet (called a Crochet Along, or CAL) event, where people crochet a product together over the course of a year.

Her advice for others…

Prioritize progress over perfection. It’s okay to start small and improve over time.

I like how Arunima’s business is built on something she enjoyed doing as a teenager, and got back into as an adult.

Could you do something similar with an old hobby?

First time seeing our Online Money Maker profiles? Click here for a quick intro.

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Our goal at eBiz Facts is to give you accurate information about online business so you can gain clearer insights, make better decisions, and achieve your own success.

With that in mind, we strive to ensure the accuracy and transparency of the income claims and estimates that you see on this website.

Here’s how:

We treat all income claims we find online with skepticism.We don’t report incomes that seem especially controversial or unrealistic.We cite our sources and/or share our calculations so you can see where the numbers come from.If there are uncertainties about an income claim or estimate, we tell you what those are.

If you see an income claim or estimate that seems off, please tell us so we can fix it.

Is this kind of business right for you?

Check out our framework to see the 19 types and 6 levels of online business, and discover which is best for you.

Other ways to make money online

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Zero to $40K/Month in Less Than 6 Months

Eric SmithFounder of AutoShorts.ai $40,000 monthly recurring revenue Published May 20, 2024 by Fardeen KhanReviewed and edited by Niall Doherty

Check out AutoShorts, self-described as… 

Faceless Videos on Auto-Pilot. Our powerful AI video creation platform allows you to fully automate a faceless channel.

See their YouTube channel for impressive examples of videos made with their software

I gave it a try myself and was able to generate an impressive demo video in about 3 minutes.

And channels like Steller Sagas (405K subscribers) show that there’s an audience for this kind of content

AutoShorts founder Eric Smith recently shared how the business has grown…

Dec 20th: Idea formed.
Feb 1st: First subscriber.
Feb 28th: 1K [monthly recurring revenue].
March 16th: 2K MRR.
…
May 5th: 30K MRR.
May 13th: 40K MRR.

I had no idea Autoshorts would be this popular during the first ~$1k MRR… then it snowballed all of a sudden. Keep grinding

How Eric came up with the idea…

It was something I wanted for myself. So I just built a quick and dirty MVP that I would use and then built features for customers as they trickled in.

Gaining traction…

Initially it was Facebook ads, then more recently it has been through affiliates and word of mouth.

Also…

As we got more users they started making YouTube videos sharing the SaaS, which sorta snowballed on its own.

He’s likely referring to videos like these

This AI TOOL can automatically create YouTube Shorts, reel & Tiktok video… How I Make Viral Faceless Youtube Videos for ELI5 Niche…

Eric’s business expenses…

Costs come in at about $10k per month. Biggest part of this are server costs, costs to run AI models, and Fb ads.

So he went from $0 to $40k with AutoShorts in less than 6 months, with a 75% profit margin

While you could try growing a channel like Steller Sagas with this software, methinks a more reliable way to make money here would be to offer AI video creation as a service.

Armed with this software, it’s pretty easy to crank out shorts for clients

You could even create a demo video for them in a few minutes, use that to pitch them on your service.

First time seeing our Online Money Maker profiles? Click here for a quick intro.

The goal of our Online Money Maker profiles is to show you all the different ways people make money online. We strive to ensure that each profile is realistic – no hype, no scams – so you can see what it really takes to build each type of business.

If you'd like to hear when we publish new profiles, subscribe to our free newsletter below. Each edition is packed with tips, insights and opportunities to build your online business. We send it out every Tuesday and Friday to 22,744 legendary subscribers.

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Learn more about income claims and estimates on this website

Our goal at eBiz Facts is to give you accurate information about online business so you can gain clearer insights, make better decisions, and achieve your own success.

With that in mind, we strive to ensure the accuracy and transparency of the income claims and estimates that you see on this website.

Here’s how:

We treat all income claims we find online with skepticism.We don’t report incomes that seem especially controversial or unrealistic.We cite our sources and/or share our calculations so you can see where the numbers come from.If there are uncertainties about an income claim or estimate, we tell you what those are.

If you see an income claim or estimate that seems off, please tell us so we can fix it.

Is this kind of business right for you?

Check out our framework to see the 19 types and 6 levels of online business, and discover which is best for you.

Other ways to make money online

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Sold His Site For $102,000 After 2 Years

Georgi TodorovFounder of Thrive My Way $102,000 sale price Published May 16, 2024 by Fardeen KhanReviewed and edited by Niall Doherty

Georgi Todorov is the founder of Thrive My Way, a blog that teaches digital marketing and how to make money online

Per a recent profile, Georgi started the site in 2021 and grew it to 300,000 visitors per month, then sold it two years later for $102,000.

It wasn’t his first experience with SEO…

Georgi worked in digital marketing and link building as a freelancer, plus a one-year stint at Semrush.

The time at Semrush was a valuable experience for Georgi, but wanting to build something of his own, he left to pursue his own business.

Building a profitable content site from scratch can take years, so to kickstart things…

Georgi invested $50,000 of his own money into the business. He did extensive keyword research and created a content strategy for the site… Then, he hired freelance writers to create hundreds of articles from the drafts.

After the articles were written, virtual assistants optimized them for search engines by following a simple checklist and documentation that Georgi created.

Sounds like he spent a lot of that $50,000 hiring help and possibly building links

Come 2023…

With the traffic still growing, Georgi decided to sell the website. He wanted to cash out and start something new…

After talking with a representative from Flippa… Georgi decided to list it there. The Flippa listing generated interest from more than 200 potential buyers and concluded with a sale for $102,000.

An article on Flippa reveals…

The website sold for $102K at a 2.2x annual profit multiple

So that means it was earning a profit of about $46,000 per year (almost $4000/month) at the time of sale

More on monetization…

Initially, Thrive My Way was monetized with display ads. But later Georgi used affiliate marketing, sponsored content, and an online course to increase and diversify revenue.

So Georgi probably earned another $50k or so while running the site (he probably earned very little the first year).

Subtracting his investment and adding the sale proceeds, it sounds like he ended up $100,000 in the green after 2 years of work.

Pretty good

And that’s probably the best-case outcome when building a niche site these days – at least in the short term – even if you’re bringing some valuable skills and experience to the table as Georgi did.

Sounds like Georgi lost interest in Thrive My Way, but financially he likely would have been better off to keep the site and continue growing it.

Because the mega niche site success stories usually happen after several years, not two.

Last thing from Georgi

When asked about the recent Google updates and their effect on web publishers, he replied…

Now, I would take a different approach and diversify traffic sources.

First time seeing our Online Money Maker profiles? Click here for a quick intro.

The goal of our Online Money Maker profiles is to show you all the different ways people make money online. We strive to ensure that each profile is realistic – no hype, no scams – so you can see what it really takes to build each type of business.

If you'd like to hear when we publish new profiles, subscribe to our free newsletter below. Each edition is packed with tips, insights and opportunities to build your online business. We send it out every Tuesday and Friday to 22,754 legendary subscribers.

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Learn more about income claims and estimates on this website

Our goal at eBiz Facts is to give you accurate information about online business so you can gain clearer insights, make better decisions, and achieve your own success.

With that in mind, we strive to ensure the accuracy and transparency of the income claims and estimates that you see on this website.

Here’s how:

We treat all income claims we find online with skepticism.We don’t report incomes that seem especially controversial or unrealistic.We cite our sources and/or share our calculations so you can see where the numbers come from.If there are uncertainties about an income claim or estimate, we tell you what those are.

If you see an income claim or estimate that seems off, please tell us so we can fix it.

Is this kind of business right for you?

Check out our framework to see the 19 types and 6 levels of online business, and discover which is best for you.

Other ways to make money online

There are many other ways to make money online, to work from home or anywhere in the world.

Full list of ways to make money onlineMore profiles of online money makers Subscribe to eBiz Insider

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Business Failure to $3800/Month Only 4 Months Later

Snow LeeFounder of PlugBear $3,800 monthly recurring revenue Published May 16, 2024 by Fardeen KhanReviewed and edited by Niall Doherty

PlugBear is a tool that lets you integrate AI into daily use software like Discord, Slack, Hubspot, etc.

Founder Snow Lee recently revealed that the business is doing $3,800 in monthly recurring revenue (MRR)

But they got off to a rocky start…

Last October, OpenAI held an event called OpenAI DevDay…

This event caused serious problems for thousands of startups, including ours. Our original product was an AI assistant for technical support.

However, because OpenAI introduced new products that made it easier for people to build their own custom AI, we realized we would have to compete with our customers’ engineering teams instead of other service providers.

So they had to ditch their initial product idea and start over.

Ouch

But four months later, they had launched PlugBear and were close to hitting $4000 MRR.

Gotta love their attitude and approach…

One of our principles is “Launch fast and learn from users.” We built the basic service within just one week and then launched it on Product Hunt…

We used most of our social media accounts and connections. We asked friends and family members to upvote our product… Thanks to that, we were ranked as the #5 developer tool that week on Product Hunt.

We also shared posts on Reddit, especially in communities related to OpenAI.

We found people in those subreddits who wanted to use AI within their familiar tools. We posted some videos that ended up going viral.

And…

We love building our service in public view. It helps us interact with users, stay motivated, focus on the core features, and attract more users. We share weekly updates with users via changelogs and emails.

Snow’s story is a good reminder that building a business is tough. 

You might think you have it all figured out one day, only to be knocked completely on your ass the next

That rollercoaster is unavoidable, unfortunately.

One idea before wrapping this up

Learn how to use PlugBear and build custom GPTs, and you could start a service business helping businesses integrate AI into the tools they use daily (eg. Slack, MS Teams, etc.)

But ask yourself first: how could you test if there’s demand for such a service?

First time seeing our Online Money Maker profiles? Click here for a quick intro.

The goal of our Online Money Maker profiles is to show you all the different ways people make money online. We strive to ensure that each profile is realistic – no hype, no scams – so you can see what it really takes to build each type of business.

If you'd like to hear when we publish new profiles, subscribe to our free newsletter below. Each edition is packed with tips, insights and opportunities to build your online business. We send it out every Tuesday and Friday to 22,754 legendary subscribers.

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Learn more about income claims and estimates on this website

Our goal at eBiz Facts is to give you accurate information about online business so you can gain clearer insights, make better decisions, and achieve your own success.

With that in mind, we strive to ensure the accuracy and transparency of the income claims and estimates that you see on this website.

Here’s how:

We treat all income claims we find online with skepticism.We don’t report incomes that seem especially controversial or unrealistic.We cite our sources and/or share our calculations so you can see where the numbers come from.If there are uncertainties about an income claim or estimate, we tell you what those are.

If you see an income claim or estimate that seems off, please tell us so we can fix it.

Is this kind of business right for you?

Check out our framework to see the 19 types and 6 levels of online business, and discover which is best for you.

Other ways to make money online

There are many other ways to make money online, to work from home or anywhere in the world.

Full list of ways to make money onlineMore profiles of online money makers Subscribe to eBiz Insider

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Father + Son + Personalized Gifts = ​​$100K/Month

Taha YavuzCo-founder of Luca’s Gift $100,000 monthly revenue Published May 16, 2024 by Fardeen KhanReviewed and edited by Niall Doherty

Taha Yavuz is the co-founder of Luca’s Gift, a site which makes and sells personalized gifts like wallets and pens

Per a recent interview, the business does $100,00 in monthly revenue.

It all began when Taha’s father migrated to the US from Turkey

He couldn’t find a job so he started making personalized keychains and selling them on Etsy.

Taha says…

We first started selling using marketplaces such as Etsy and Amazon. It is easier to take a place on a saturated marketplace rather than opening a website. So, we have chosen that way. It took about 2 weeks to get orders.

They finally set up their own website in 2020, after Taha joined his father in the US…

we joined forces and started selling online more seriously. I have added more items like leather wallets, wooden pen & pen sets, jewelry…

Sounds like Poppa Yavuz was doing everything by hand at first.

But as a trained mechanical engineer, Taha was able to set up machines that improved their production process

Then…

​​we connected with manufacturers abroad to bring finished products and only do the personalization here… manufacturing is a painful process but after a couple of samples and feedback, we were able to bring quality items to our shop.

Marketing…

To attract traffic, we used Instagram ads, Youtube ads, Google ads, you name it, we tried all. It was a painful and costly lesson for us and [it didn’t work out]…

Currently, almost 95% of our business is running through Etsy and Amazon.

From what I can tell, they operate one store on Amazon and two on Etsy…

TAMEDUS (55,000+ sales)LucasEngravingStore (24,000+ sales)

Profits…

I believe we are still in the standard profit margins like 15%… we make personalized items and competition is considerably low, but the profit margins are not huge.

So out of that $100,000 monthly revenue, they’re profiting $15,000.

Which is still pretty good

However, Taha also notes that their growth on Amazon and Etsy has stagnated…

We are… decreasing efforts on marketplaces and waiting to attract more customers to our website. Because marketplaces have not grown much for the last 2 years…

Two ideas from this story

First, it’s clear there’s still a big demand for handmade and personalized gifts.

Do you know any craftspeople who are already creating these kinds of products? 

Could you help them scale their operation, similar to how Taha helped his father?

Second, I suspect someone could find success here by going more niche.

How about personalized gifts for golfers, pet owners, etc?

First time seeing our Online Money Maker profiles? Click here for a quick intro.

The goal of our Online Money Maker profiles is to show you all the different ways people make money online. We strive to ensure that each profile is realistic – no hype, no scams – so you can see what it really takes to build each type of business.

If you'd like to hear when we publish new profiles, subscribe to our free newsletter below. Each edition is packed with tips, insights and opportunities to build your online business. We send it out every Tuesday and Friday to 22,754 legendary subscribers.

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Learn more about income claims and estimates on this website

Our goal at eBiz Facts is to give you accurate information about online business so you can gain clearer insights, make better decisions, and achieve your own success.

With that in mind, we strive to ensure the accuracy and transparency of the income claims and estimates that you see on this website.

Here’s how:

We treat all income claims we find online with skepticism.We don’t report incomes that seem especially controversial or unrealistic.We cite our sources and/or share our calculations so you can see where the numbers come from.If there are uncertainties about an income claim or estimate, we tell you what those are.

If you see an income claim or estimate that seems off, please tell us so we can fix it.

Is this kind of business right for you?

Check out our framework to see the 19 types and 6 levels of online business, and discover which is best for you.

Other ways to make money online

There are many other ways to make money online, to work from home or anywhere in the world.

Full list of ways to make money onlineMore profiles of online money makers Subscribe to eBiz Insider

Every Tuesday and Friday we email 22,754 people like you with top tips, insights and opportunities to build your online business. No hype, no scams, no fake gurus. Sign up below to get the next one.

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Earning $60K in 30 Days From Facebook Traffic

Hasib AlicFounder of Strevio $60,000 revenue in 30 days Published May 16, 2024 by Fardeen KhanReviewed and edited by Niall Doherty

Hasib Alic tweets…

Over the past 30 days, I’ve made $60K from Facebook traffic, successfully completing my challenge.

13 months ago, I created a Facebook page for one of my websites and decided to challenge myself to grow the revenue from 0 to $50K per month within 12 months.

Unfortunately, I didn’t meet my goal within the first year, but just a month later, I succeeded.

He doesn’t reveal the site but says it’s monetised with display ads

Also important to note: Hasib started the challenge with a $50K budget.

He documented his whole journey in several blog posts over the past year

From his first update…

I manage over 15 content sites that collectively attract 10M+ visits each month and generate $120K+ in monthly revenue through ad monetization.

Throughout my journey in building these sites, I’ve always aimed for diversification, with traffic coming from organic search, Pinterest, and, of course, Facebook.

From a recent update…

I won’t get into the current state of SEO, which is tough for small publishers. For over six months, I’ve been saying that Facebook is the best platform for publishers right now. Last year, we moved 95% of our content production to focus on Facebook, which turned out to be one of my best business decisions in the last ten years.

To show you what I mean, the website where I’m running a $50K challenge made $16,331 in the last 30 days.

… half of our revenue for the past month came from just the last week. Right now, we’re making just over $1,000/day on average, which is an amazing achievement.

I’ve invested just under $4,000 on Facebook ads in the last 30 days, experimenting with two types of ads.

So he earned $16,331 on a $4K ad spend

But of course he must have other expenses as well, especially the cost of content production.

Still, it’s an impressive feat and Hasib seems to have refined his FB ads strategy to become more and more profitable over time

In his most recent update he shares some tips that are working right now…

1. Posting pictures with the link in the first comment.

2. Text posts with a background and the link in the first comment.

3. Facebook ad arbitrage can be effective if you find articles with good RPM and create ads with low enough CPC.

4. Investing in likes to generate organic traffic has proven to be an excellent strategy.

5. Creating additional Facebook pages for the same website is a practical option.

Another article from Hasib…

How to grow your Facebook traffic to your website (ULTIMATE GUIDE) 

Worth noting that he posts all that info on Strevio.com.

Strevio is “a tool for bloggers and media publishers looking to drive more traffic from their Facebook Pages to their Websites.”

Hasib owns that business as well, and it seems that software is a key part of his strategy

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Learn more about income claims and estimates on this website

Our goal at eBiz Facts is to give you accurate information about online business so you can gain clearer insights, make better decisions, and achieve your own success.

With that in mind, we strive to ensure the accuracy and transparency of the income claims and estimates that you see on this website.

Here’s how:

We treat all income claims we find online with skepticism.We don’t report incomes that seem especially controversial or unrealistic.We cite our sources and/or share our calculations so you can see where the numbers come from.If there are uncertainties about an income claim or estimate, we tell you what those are.

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Database of Hard-To-Find Info Sold For $25 Million

Sharon GillenwaterCo-founder of Boardroom Insiders $25 Million sale price Published May 13, 2024 by Fardeen KhanReviewed and edited by Niall Doherty

Check out Boardroom Insiders, a business that sold for $25 million in 2022

Per a recent profile, Boardroom Insiders is…

a database of vetted executive profiles designed to help C-suite sellers and marketers access key decision makers and build stronger relationships — and ultimately close bigger deals faster. C-level recruiters could also use the dashboard to find the best C-level job candidates.

It was started by Sharon Gillenwater when she was consulting with tech companies back in 2008…

I started really listening to my consulting clients, which were some of the biggest tech companies in the world… 

I started noticing that they all have the same challenge… Salespeople didn’t know how to talk to senior executive customers. They didn’t know how to sell into the C-suite or what to say to those people or what the story should be.

So she began building…

Each executive profile was one to five pages and included insights into an executive’s background, business priorities, business challenges, social media profiles and even hobbies. 

Think of the database like a curated, searchable, up-to-date Rolodex that contains pages of notes for each contact.

So she basically curated hard-to-find info into an easy-to-use database.

Could you do something like that for another industry?

Sharon has a video on TikTok where she talks about a key turning point in her business. 

She was a couple of years in, already feeling burned out, and wanted to find a business partner to share the workload.

To find that person…

I made a commitment to myself that I was going to call one person every single day of August, one person who I thought could help me or needed to hear about my business or who could refer me to someone who could help me.

So I made all these phone calls and I kept getting introduced to more and more people, and that’s how I met my business partner.

What’s one thing you could do every day for the next month that would transform your business?

Lastly, let’s talk numbers

By 2022…

The database had grown to more than 29,000 profiles.

Boardroom Insiders operated on an annual license model… Most deals fell within the $50,000 to $300,000 range depending on several factors, including the size of the company and number of users.

That’s a big price tag, which apparently their target customer was happy to pay.

To the point that the business was doing $5 million in annual revenue at the time of sale

But it was many years before Sharon saw the fruits of her labor…

For a long time, Gillenwater and [her co-founder] didn’t take salaries. When they finally started paying themselves, they each took around $2,000 to $4,000 a month. Over time, they scaled and finally reached market-rate salaries about two or three years before they sold.

In the end she says…

I personally walked away with around $9 million on the $25 million sale of a company I founded back in 2008 and then ran for 14 years.

Sounds like it was a tough grind, but ultimately well worth it

First time seeing our Online Money Maker profiles? Click here for a quick intro.

The goal of our Online Money Maker profiles is to show you all the different ways people make money online. We strive to ensure that each profile is realistic – no hype, no scams – so you can see what it really takes to build each type of business.

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Learn more about income claims and estimates on this website

Our goal at eBiz Facts is to give you accurate information about online business so you can gain clearer insights, make better decisions, and achieve your own success.

With that in mind, we strive to ensure the accuracy and transparency of the income claims and estimates that you see on this website.

Here’s how:

We treat all income claims we find online with skepticism.We don’t report incomes that seem especially controversial or unrealistic.We cite our sources and/or share our calculations so you can see where the numbers come from.If there are uncertainties about an income claim or estimate, we tell you what those are.

If you see an income claim or estimate that seems off, please tell us so we can fix it.

Is this kind of business right for you?

Check out our framework to see the 19 types and 6 levels of online business, and discover which is best for you.

Other ways to make money online

There are many other ways to make money online, to work from home or anywhere in the world.

Full list of ways to make money onlineMore profiles of online money makers Subscribe to eBiz Insider

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Is Your Business Idea a Painkiller or a Vitamin?

You might remember this story from a few weeks back…

Their No-Code Tool Earned $60,000 in 6 Months

One of the founders, Dan Kulkov, has this tweet pinned to his X profile

I am tired of answering the same questions.

Here is my ultimate marketing self-help guide.

[link]

It’s free (literally a Google Document)

The doc is packed full of his best marketing tips, plus a few links to videos and products Dan has made.

It’s a nice way to add value and build trust on social media

Could you write and share something like this to showcase your expertise?

My favorite tip in Dan’s doc is to build painkiller products, not vitamin products…

Painkiller ideas
– Sound boring
– Your customers will face major negative consequences if they don’t solve the problem your product aims to solve (lose money, legal problems, wasted time)
– Mostly B2B (but can be B2C too)
– Your customers use it weekly / daily
– It’s hard to explain this product to your parents

Vitamin ideas
– Sound hype
– Your customers will face minor negative consequences (fewer likes on Twitter, you didn’t get a new habit)
– Mostly B2C
– Your customers use it annually / monthly

That’s a nice quick filter to run your ideas through