I love building small tools which solve problems I myself face in my day to day life. Having been worked in different companies over the last 4 years, I feel I've acquired enough knowledge to develop big applications(big enough to make money) on my own.
I was wondering, how one can come up with side project ideas which can generate few hundred dollars per month on the side. Any inputs, resources and wisdom are appreciated!
1. Find a popular SaaS product. Like Intercom, Algolia, Segment. Make sure it doesn't have a free plan. This guarantees there's a market for the tool. Check out GetLatka for ideas. https://getlatka.com
2. Build your own take on the product. Find the minimum set of features that make it valuable. 10% of the work for 80% of the value.
3. Sell it at a 50-90% discount. There will be price sensitive customers that want the popular product, but don't want to or can't afford it.
4. Target bottom of funnel marketing channels: Targeted quora questions. Paid/organic search queries. Set up retargeting ads on Facebook. Product hunt launch it. That should get you a steady stream of customers.
I don't think this is a great way to build a million dollar business, but is a very easy way to make a few hundred. Shoot me an email if I can be helpful.