The £100 game — startup edition
What I failed to mention in my last post on digital products and passive income was that I took up a challenge with a friend as motivation to put out some of the PPMs (project per month) I mentioned for 2017.
The game is simple:
The first person to earn £100 profit, from a new project, after costs, wins.
The loser buys the winner a curry.
The point is obviously to motivate us to actually build and launch.
The friend in question has started a job recruitment site with a twist. I’ve started a wedding directory. Also with a twist.
Today I’ve had another service idea based off an internet comment I thought was clever. The edge I think I have with this idea is how low-cost and quickly I can set up the site, despite it being quite technically challenging. I have most of the infrastructure in place. So few people would be in this position. I still need to check out the competition, but I don’t think I’ve heard of anything positioned as this will be. Checking there’s a big enough market for this is also an important first step.
This will set me back another £15 in the revenue challenge, for the domain name, but that’s a relatively small investment for the potential payoff. I’ll finish testing and early promotion of the wedding directory first, then look into it further.
My ‘opponent’ hasn’t started coding yet, unless he’s bluffing, and has quite a lot of work ahead of him. I think I’m currently in the better position, with two simple service offers and most of the code already done. On paper I should also have more sales and marketing experience, but it’s a close race there. He could come out with another project based on the codebase of the first. In that case we’d be neck and neck, but more projects don’t necessarily mean better odds, as we spread ourselves ever thinner.
So the race is on to generate revenue. I’d need around £120 at the moment to win. £135 if I set up the other project. A race at snail’s pace, really, as we both have day-jobs, but a race it is. I’d hope on my end to start selling within the next 3 months. I can’t see him doing any faster than that at his current rate, so I think it’s a fair target.
Want to join in? Play along by posting your project link in the comments. Let’s say for fairness that it must have been first registered in the last 30 days.
Disclaimer: The prize for those not in the original game is the much-coveted No-Prize.
EDIT: Before publishing this post my friend told me he’s relaunching a former project, an events site. That puts us pretty much even if we’ll allow picking up an old project.