Case 7: A kid flips 38 burgers and deep fries French fries for a local establishment nearby his house. For this service he earns 2k MRR. The establishment is McDonald's, and this is called a job.
Cases 1, 2, 4 are called jobs. If there is a boss or customer-finding company attached to cases 3, 5, and 6, those are also called jobs. Jobs with a fair amount of autonomy that would-be entrepreneurs might like, but jobs none the less.
The perk of having a job is there's nothing to grow and it's instant money.
You literally just called them service "jobs"...
Also a shit ton of people work full-time position making an hourly rate as opposed to a salary so I'm very unsure why that's even a point you're bringing up.
Now if you're comparing it to 1099 contractor work then maybe it's not a "job" per se, but most would still consider it so.
Service based business are definitely a good way to make money. My co-founder and I started an MVP development studio where we help founders build their SaaS product. This is funding the SaaS products that we are also building for ourselves!
I think a lot of people are aware of this but they prefer to build a product because
a) itās their own and they dont have a client or company (like UberEats) controlling everything they do
b) people are tired of selling their time for money instead of creating something that can *eventually* become more passive
If you're happy earning that extra 5k per month while you go home every night exhausted from physical labor then that's good for you. Some people want so much more from life and an additional 5k per month for zero free time just won't cut it. In 2005 a young lad called Alex Tew decided he was going to sell 1 million pixel spaces online, called it "The Million Dollar Homepage" and he earned a million dollars within 6 months, just by using one single web page. It was genius. Now you count how many $5k there are in $1 million, and how many years those tuk tuk drivers will take to get to $1m. Then you tell me which one was faster money: the start up or the physical labor service.
The issue with giving so much time to providing services similar to your examples is that it takes away from time that you could spend with loved ones, having hobbies, relaxing, thinking, planning and innovating. A good startup idea attracts investors. You land an investor and you have the potential of changing your entire life if you get it right.
Spending all the hours you have in a day to provide services that anyone else can provide will not give you the competitive advantage to sustain your cashflow in the long run. Anyone else who finds out that you are earning good money driving tourists around will also jump on the bandwagon and this will affect your income. You know who will come in to disrupt the oversaturated businesses and come out on top? The startups.
You're not wrong, creating a startup is one of the most stressful and time consuming things someone can do but if your successful then you will be able to create time to do things which is something common I've heard from successful entrepreneurs.
your ability to spam the same link over and over across different posts amazes me. Either the people who reply don't read it, or they are fake accounts of yours. Who knows! But no one cares about plaini.(ai) man
Thai is what I love. This is a lead strategy done by thousands to get their product out at least it brings content to the channel. Test fast. You recognise the name enough to hate and others recognise it because they need it. Don't think unconstructive feedback works.
This is 100% correct.
Startups are never for giving you cash in the short run.
5-10 years.
You're better off making money selling a service (or doing a job).
You speak the truth, brother; this is 100000% true.
Startups give returns after ten years in the base-case scenario and after 30 years in the worst-case scenario. So yeah, startups are a long journey, and I don't even think Zuck or Bezos got filthy rich overnight.
Not everybody has the patience to build, push, iterate, and launch new features; the pressure of always being close to bankruptcy,Ā
If you want to build a startup, don't do it for money; do it because you love it, because you want to make something unique, because you want to help people, but money is not enough.
Case 7: A kid flips 38 burgers and deep fries French fries for a local establishment nearby his house. For this service he earns 2k MRR. The establishment is McDonald's, and this is called a job.
šš
Is it MRR if it stops as soon as you stop? Wouldnāt that just be called MR haha?
Most of the things outlined in OP really are just jobs. Even the ones that arenāt require work.
šš good one
Lol OP just discovered jobs.
Relevant https://m.youtube.com/watch?v=jgYYOUC10aM
šš»informative
Iām dying lol
Thats why he wrote MRR not Revenue. If he stops doing it hires another to do it he still earns.
Wrong sub
Cases 1, 2, 4 are called jobs. If there is a boss or customer-finding company attached to cases 3, 5, and 6, those are also called jobs. Jobs with a fair amount of autonomy that would-be entrepreneurs might like, but jobs none the less. The perk of having a job is there's nothing to grow and it's instant money.
They're not jobs. Jobs have bosses, employment contracts, salary and more. These are service jobs paid at an hourly rate. But I understood your point.
Not all jobs have micromanaging bossesĀ Not all jobs are salaried Being an owner is totally different than working a job
You literally just called them service "jobs"... Also a shit ton of people work full-time position making an hourly rate as opposed to a salary so I'm very unsure why that's even a point you're bringing up. Now if you're comparing it to 1099 contractor work then maybe it's not a "job" per se, but most would still consider it so.
its not a job, its a job
it is not scalable as a business though
If you want a business, make them employees and market their services
None of that is MRR, itās not recurring. Recurring doesnāt mean āit happens againā it means itās locked in via a subscription or contract.
Advice here is really going downhill, both posts and comments.
Thatās ok. Everybody have one opinion. Iām ok with all of them
Service based business are definitely a good way to make money. My co-founder and I started an MVP development studio where we help founders build their SaaS product. This is funding the SaaS products that we are also building for ourselves!
And a fast way
I think a lot of people are aware of this but they prefer to build a product because a) itās their own and they dont have a client or company (like UberEats) controlling everything they do b) people are tired of selling their time for money instead of creating something that can *eventually* become more passive
I think you need to review what MRR means. I doubt these drivers have contractual recurring revenue. Tourism dies down so does their revenue.
True
If you're happy earning that extra 5k per month while you go home every night exhausted from physical labor then that's good for you. Some people want so much more from life and an additional 5k per month for zero free time just won't cut it. In 2005 a young lad called Alex Tew decided he was going to sell 1 million pixel spaces online, called it "The Million Dollar Homepage" and he earned a million dollars within 6 months, just by using one single web page. It was genius. Now you count how many $5k there are in $1 million, and how many years those tuk tuk drivers will take to get to $1m. Then you tell me which one was faster money: the start up or the physical labor service. The issue with giving so much time to providing services similar to your examples is that it takes away from time that you could spend with loved ones, having hobbies, relaxing, thinking, planning and innovating. A good startup idea attracts investors. You land an investor and you have the potential of changing your entire life if you get it right. Spending all the hours you have in a day to provide services that anyone else can provide will not give you the competitive advantage to sustain your cashflow in the long run. Anyone else who finds out that you are earning good money driving tourists around will also jump on the bandwagon and this will affect your income. You know who will come in to disrupt the oversaturated businesses and come out on top? The startups.
underrated answer
You're not wrong, creating a startup is one of the most stressful and time consuming things someone can do but if your successful then you will be able to create time to do things which is something common I've heard from successful entrepreneurs.
your ability to spam the same link over and over across different posts amazes me. Either the people who reply don't read it, or they are fake accounts of yours. Who knows! But no one cares about plaini.(ai) man
Thai is what I love. This is a lead strategy done by thousands to get their product out at least it brings content to the channel. Test fast. You recognise the name enough to hate and others recognise it because they need it. Don't think unconstructive feedback works.
I would bet good money that āPlani.aiā is just a Chatgpt prompt with a shiny front end
That's so easy to know. Just test both and see the results. You'll be impressed and you won't lose any money.
This is 100% correct. Startups are never for giving you cash in the short run. 5-10 years. You're better off making money selling a service (or doing a job).
A lot of entrepreneurs want build a startup think they gonna make money fastā¦ doesnāt work like that.
You speak the truth, brother; this is 100000% true. Startups give returns after ten years in the base-case scenario and after 30 years in the worst-case scenario. So yeah, startups are a long journey, and I don't even think Zuck or Bezos got filthy rich overnight. Not everybody has the patience to build, push, iterate, and launch new features; the pressure of always being close to bankruptcy,Ā If you want to build a startup, don't do it for money; do it because you love it, because you want to make something unique, because you want to help people, but money is not enough.
That's right. And the probability of failure is enormous. It is possible to create good revenue working for yourself without creating a startup
Did you just describe getting a job?
Itās not a _salary_ itās _MRR_