How to Start a Profitable Business While Working a Full-Time Job? My story

-Hi, I’m Tony Tang, a software engineer who works full-time and owns a few profitable businesses.

The short answer is: Yes, you can absolutely do both! But here's a nuance people often overlook: you can first establish a profitable business and then secure a full-time job. It's not always about juggling both simultaneously.

My Story:

In June 2021, I was working full-time, earning around $4,000 USD per month. At the same time, I co-founded a startup with two partners to develop a mobile app called “Tipsme,” a football live score and tips-sharing app. My partners had extensive knowledge of this niche market and believed it was validated (also there were no similar apps in our city, and we knew where to find potential users).

It took me six months to finish the MVP because I had no prior experience in mobile app development. I learned everything from scratch using the “Flutter” framework, which was quite new at the time.

After launching the app, my partners led some attractive marketing campaigns, and the app saw 6,000 downloads at the first month. Initially, it didn’t generate profits because our revenue model depended on users posting their tips. If their tips were accurate and profitable, it would attract users to buy them. By the second month, we acquired some good tipsters and started making profits by extracting commissions from them. The app generated $500-$800 per month—a remarkable start!

I cannot believe the journey just started…

Feeling overconfident, I thought I could get rich by working on this app full-time. I had some savings and investments that could cover my expenses for two to three years. So, without much thought, I quit my full-time job to focus solely on the app.

In the third month, I poured all my passion into the app, working at least 12 hours every day. Despite shipping lots of new features, the profits didn’t increase right away. It’s normal—it takes time for users to understand new features. As time went on, we realized we needed to create more value for our users. We gathered feedback and added more useful football data like head-to-head stats, odds, and handicap data. We also started incorporating ads.

The app's user base grew by 200-300% in two months, and revenue increased to around $1,000-$1,500 per month. However, the revenue had to be split among the three of us, leaving each of us with only $500.

Dilemma: Partnership problems…

Things got rough, and one of my partners decided to search for a full-time job to stabilize his income. I was upset but understood his decision.

At that point, I faced a dilemma: Should I stop working on the app and get a full-time job, too? I was still passionate about the app and didn’t want to give up. I believed I could easily find a job, but such opportunities are rare. I decided to work even harder, dedicating myself to the app for another year.

I told myself there was no room to quit right now. I keep learning and striving every aspect of my skills

I read numerous entrepreneurial books like “Lean Startup,” “Zero to One,” and “Hooked,” trying to understand how to gather user feedback, acquire new users, retain them, and improve app performance and user experience. I believed the market was validated, so I kept pushing forward. Day by day, the app started to grow and generate more profits, but still below my full-time salary.

I burnt out finally in exactly one year

My mental health deteriorated over that year. I couldn’t find enough money and constantly compared myself to others. I doubted my entrepreneurial mindset and felt like a failure. After talking to good friends, they suggested I find a job. During the COVID-19 pandemic, many remote job opportunities opened up. Despite my struggles, I had acquired valuable skills in system design, cloud computing, UI, and UX. My new employer appreciated my skills and offered me a good salary. I wrote a new apps called “Panic Killer” based on my experience

Lessons learned

1. Believe in Yourself: Confidence is important, but resilience and the belief that what you're doing is valuable are crucial. Don’t be disheartened by initial setbacks.

2. Time and Discipline: Balancing a full-time job and a startup requires immense discipline and effective time management. You need to put in the hours and stay committed.

3. Adapt and Evolve: Continuously gather user feedback and adapt your product to meet their needs. Innovation and responsiveness can drive growth.

4. Failure is a Stepping Stone: Failure in business can lead to significant personal and professional growth. The skills and knowledge you gain are invaluable and can open new opportunities.

5. Mental Health Matters: It’s easy to get caught up in the grind, but taking care of your mental health is essential. Seek support from friends and mentors when needed.

6. Never Stop Learning: Reading, researching, and learning from other entrepreneurs can provide insights and strategies that help you overcome challenges.After securing a new full-time job, I didn’t become complacent. I continued dedicating most of my time after work to the app. Over time, we developed two core functions that significantly boosted our app's Monthly Recurring Revenue (MRR). Today, the app is quite popular and generates stable revenue.

Starting a profitable business while working full-time is challenging but achievable

It demands hard work, resilience, and a willingness to learn and adapt. Even if the business doesn’t succeed immediately, the journey imparts invaluable skills and experiences that can benefit you in other areas of your life. So, if you have a dream, go for it—just be prepared for the ride.

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Apps as in 2024-06-16: