On New Years Day, slightly hazy from the night before, a notification bonged and let me know that Downtime Monkey had 2 new paying subscribers. The 100th and 101st to be precise.
When I first started Downtime Monkey I ran some predictions to estimate the income the would be generated with various numbers of subscribers. I remember thinking two things at the time:
that these predictions were pretty much guesswork - I wasn't convinced of their accuracy
that 100 subscribers would be a Champagne uncorking point - a point where I feel like the project had succeeded.
I still have the figures and hindsight brings up a few interesting things:
The inaccuracy is easily explained: in response to customer requests I added a bunch of new micro plans which are smaller and cheaper that the original plans. With that in mind I'm actually pretty happy with how the predictions held up - they are not orders of magnitude out.
You can see the verified revenue here: https://www.indiehackers.com/product/downtime-monkey/revenue
This is down to users on annual plans which make up a significant proportion of Downtime Monkey's customer base.
I don't think that this is only because the income is lower than predicted. I cant see myself cracking a bottle of plonk when we reach $585 either.
Maybe the idea of success changes as a project progresses - it's always the next milestone that we really want to achieve.
Congrats Ryan - you're making money and that's more than can be said for many (most) of my projects! :D
I still think it's a milestone worth celebrating. it looks like you had growth of 10-15x since last year - with that trajectory you'll be at something like $5,000 - $10,000 MRR by this time next year. Is the project taking much of your time? If it isn't, then I'd class that as an absolute win :)
Thanks @ChipD - appreciate it! I'll be surprised if it's making $5000 by next year but if that does happen I will be celebrating big time!
The good thing about this project is that it has more or less run itself for the past couple of years. I have occasional customer support emails to deal with and I write the odd blog post but apart from that it just ticks over. There are a bunch of things I'd like to do with it but I have a very full plate right now and for the near future.
Ah well that's nice. You got some beer money rolling in for minimal effort. The dream! 😂