Niall Doherty's Blog, page 68
May 20, 2024
$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? 
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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
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.
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May 16, 2024
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.
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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.
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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?
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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…
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?
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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.
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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.If you see an income claim or estimate that seems off, please tell us so we can fix it.
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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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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.
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May 13, 2024
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
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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 onlineThere 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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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 MonthsOne 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
He Built a $70K/Month Agency in Only 3 Years
Ayush SanghaviFounder of Byldd $70,000 monthly revenue Published May 13, 2024 by Fardeen KhanReviewed and edited by Niall Doherty Ayush Sanghavi is the founder of Byldd, an agency that…
…works with founders and entrepreneurs to create a minimum viable product (MVP) as quickly and inexpensively as possible.
Words from Ayush in a recent interview…
I established Byldd as a side project in 2020. Beginning with just one engineer, we’ve grown into a team of more than 55 professionals, generating more than $70K in monthly recurring revenue and launching 2-3 products each month.
Ayush started his career as an electrical engineer in Dubai 
but then jumped to software entrepreneurship…
I always wanted to start my own tech business and software because I couldn’t afford to hire anyone else to write code for me. I ended up helping a bunch of early-stage companies, building two businesses of my own before Byldd and eventually starting Byldd to then help other non-technical founders who were in a similar position.
Sounds like he had some professional experience which he was able to leverage to start Byldd..
I’ve led several product teams and consistently noticed a common issue of founders spending excessive amounts on products that do not resonate with the market.
These founders often lacked strategic partners to guide them on what to prioritize, how to approach the market, or inform them about the typical challenges and traps associated with building tech products.
Finding their first clients…
I was pretty involved in the startup ecosystem in NYC – had been going to some events for a few years and got to meet many founders. The first few companies we worked with came from that network.
Most of our businesses still comes from referrals – either by clients who liked our service or by Angel and VC investors who send their portfolio companies to us.
Byldd’s pricing…
for an initial MVP is about $10-15K and takes about 1 to 1.5 months.
Ayush adds…
The other way we make money is by investing in our portfolio companies and acquiring equity. This ties us even further with the founders we work with – their success is our success.
I like how the idea for Byldd came from something Ayush noticed when working in the corporate world.
Can you think of any issues you noticed in past jobs that could be the basis of a business?
Also worth emphasizing that Byldd’s first clients came via local networking events.
We tend to have more trust in people we meet face to face, and offline events are unbeatable for creating those connections.
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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.
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These Side Hustles Earned Her $11,000 in 100 Days
Jackie MitchellTikTok Influencer $11,000 in 100 days Published May 13, 2024 by Niall DohertyContributor: Fardeen Khan A woman named Jackie Mitchell was recently featured in a CNBC article…
Jackie has a video on TikTok breaking down the different side hustles she tried and how effective they were 
Numbering them for easy reference…
1) Prolific
A survey site that Jackie claims pays $15-20 per hour 
She was on their waitlist for 8 months before getting access.
Focus group opportunities that pay around $100 an hour. You basically share your opinion on new products.
Jackie only got offered 2-3 during her month-long challenge.
3) Swagbucks
Another survey site but Jackie mainly recommends doing their Game Offers, where you get paid to play mobile games 
Don’t expect to earn much here though.
4) Data Annotation
With this you get paid to label visual data. Sounds quite tedious, you have to pass an assessment, and Jackie doesn’t highly recommend it…
the work is so boring and so hard sometimes
But people in the comments say you can earn up to $30/hour
DataAnnotation.tech seems to be one of the main sites for this.
5) Remotasks
Jackie didn’t try this one but wishes she did.
It’s a marketplace where you can get paid to do simple tasks like labeling images and transcribing audio.
Someone wrote in Jackie’s comments…
I love remotasks! They always pay just above $20 an hour for me
6) UGC / Brand Deals
Not sure how many followers Jackie had on TikTok when she started her 100-day challenge, but she has 127K now.
Apparently she started getting more attention on TikTok via the challenge, and brands then reached out and offered her sponsorship deals 
Jackie doesn’t say how much she earned from this, but I suspect it was a lot more than what she earned from 1-4 above.
However, you don’t need a big social media following to make money this way, as covered in a story we shared recently…
$8000/Month as a UGC Creator7) TikTok’s Monetization Program
TikTok offers creators a bunch of ways to monetize
Again, Jackie doesn’t go into details here, but I suspect she earned a good chunk of her $11,000 this way.
This is Jackie’s page on Amazon where she lists some of her favorite products and earns a commission if someone buys via that page.
She has it linked via her linktr.ee which is in turn linked from her TikTok profile.
9) Referral Links / Affiliate Marketing
You can also see these via Jackie’s linktr.ee.
She gets paid a commission for referring people to sites like Swagbucks.
My takeaways
First, it’s a pity Jackie didn’t give a breakdown of how much she earned from each side hustle 
But if I had to guess, I’d say she probably earned 80% or more of her $11,000 from 6-9 above.
And those income streams are much easier when you have an audience.
Still, the others are worth trying to earn a little extra cash in your free time.
Second, if you do want to build an audience, doing some kind of public challenge like Jackie and sharing your progress can be a great way to do it
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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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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 onlineThere 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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