5 Biz Fri #0004: 60k MRR in two months by building around GPT
I’ve had a lot of requests to bring back 5 Biz Fri, a series where we go over 5 cool bootstrapped micro-businesses and side projects!
Check them out 👇
Chatbase → $60k MRR in 3 months
6 Months ago I got my new grad offer from my "dream company" rescinded with tech layoffs.
This had a big impact on my mental health and I was about to fall back into depression.
I always knew that I want to build a side project to make money online, so I decided that I won't… twitter.com/i/web/status/1…
— Yasser (@yasser_elsaid_)
May 10, 2023
Chatbase allows you to train a custom ChatGPT model for your website. It crawls your site for information, uploads it to a vector database (Pinecone in this base), and spits out a personalized Chatbot (by combining with Langchain).
Yasser Elsaid got customers for his product in a few key ways:
This first Tweet earned him his first 1k MRR despite having only 13 followers
Multiple Reddit Posts in r/CSMajors, r/SaaS, r/SideProject, r/indiebiz, etc.
Viral TikTok posts made by “influencers” surrounding top AI projects, useful sites, etc. Creator economy is strong and many people are willing to share trendy products in the AI space
AI Profile Pictures → 6-7 figure products
With the release of Stable Diffusion, AI profile pictures were the hottest wave a few months ago. ProfilePictureAI generated $50,000 in just 2 weeks.
Upload photos of yourself, pick your favorite styles, and the AI will generate your avatar!
🤯 Just hit $50,000 in sales, within 14 days.
📸 220,080 AI profile pictures were created for 2,436 customers.
❤️ Thanks everyone for trying out my little tool!
— Danny Postma (@dannypostmaa)
Nov 14, 2022
Despite the profile picture wave dying down, ProfilePictureAI now has over 20,000 customers and created over 7 million photos.
Pieter Levels has a competitor to ProfilePictureAI called PhotoAI, which has been also consistently earning well over 5 figures a month (currently at $53k MRR)
PDF.AI → $23k in 6 days
The AI wave is real right now.
Whether or not there’s a ton of platform risk, people are shipping fast and getting rewarded. (Here’s a list of Vercel/NextJS templates to help you get started)
Josh Schneider built PDF AI and within 48 hours he sold it for $20k to Damon Chen (founder of Testimonial).
Within 6 days, Damon returned his original investment and profited nearly $3,000. Since then, Damon’s taken PDF AI from 500 users to over 10,000.
He followed the indie hacker/SaaS playbook perfectly:
Acquisition announcement, Twitter Launch, then Product Hunt Launch (Rank #4 for the day)
Published to subreddits, FB groups, and AI directories
Launched limited lifetime deals shortly after the acquisition and before investing in new features
I spent $20k acquiring Looseleaf (rebrand to ).
It only took 6 days to make it break even; I also pocketed $2,891 in profits✌️
— Damon Chen (@damengchen)
May 11, 2023
$100,000 from Notion Templates
Thomas Frank made over $100,000 selling a collection of premium Notion templates around productivity, organization, and planning.
Since Notion generally has a higher learning curve compared to other applications, people will often purchase templates to save them hours of work.
Some things Thomas used to help drive sales:
Building a following on YouTube (he has two different channels but one is dedicated to Notion)
Free Notion Templates to drive over 50,000 email subscribers
Creating a community through Circle to avoid link-sharing which is a major problem when selling Notion templates
I just made $100,000 in a single month selling @NotionHQ templates through @gumroad. Here's how:
- Built an audience w/ tutorials and free templates
- Spent a LOT of time on the sales page
- Product bundles
- Upgraded the customer experience everywhere
Here are the details:
— Thomas Frank (@TomFrankly)
May 9, 2022
AI-based Courses → $52,000 in four months
The demand for AI is so hot right now that you can even just teach a ChatGPT Masterclass as a side project.
Lance Junk hosts a Udemy course titled “ChatGPT Masterclass: A Complete ChatGPT Guide for Beginners”.
Within the first four months, Junk earned over $50,000 and quit his job to pursue it full-time. Currently, there are over
🔥 Newsletter Update
Next week I’m introducing the start of a long-anticipated bi-weekly series, Insights, where I deep dive into new trends and business markets. The first issue will be all about starting a newsletter.
I’ll share the different types of newsletters, marketing, and monetization strategies, and how to generate good ideas for content.
I’ll also be launching a paid version which will feature more in-depth content such as case studies, go-to-market strategies to get your first 1000 subscribers, etc.
Thanks for reading, and I hope this helped you or you found it interesting! If you want to give some feedback, you can either respond to the poll or reply to this email. This greatly helps the newsletter!
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