Hey, it’s already a month into 2019! Can you believe it?
I bet you’re already crushing all of your New Years’ resolutions just like me, hahahaha *laughs and cries*
But seriously, if it’s been on your list to make that ~cash~, it’s time to take a look at your side hustles and see if it’s actually worth something. Who knows?!
Don’t have a side hustle? Maybe that should be your 2019 goal. Just saying.
But if you’ve built something and aren’t quite sure how much it might be worth, you’re in luck. A new site super creatively named “How Much is My Side Project Worth?” helps you calculate just that.
Using statistics like revenue (obviously), your type of site, email subscribers, and even Twitter followers, this tool will give you a ballpark estimate of what you might be able to sell it for, and even a nifty little chart of your estimated valuation in upcoming years. Score! +1 to the creator for adding, idk, like, 17 Silicon Valley terms this site, too.
And if you have a side hustle but aren’t sure what kind of KPIs to shoot for besides revenue, this will be helpful to give you some ideas to increase the value of your product, like email subscribers.
If you’ve built a random physical product, however, this site might not be for you. (Sorry, aspiring Scrub Daddy makers of the world.)
This tool will calculate the value of specific website categories like e-commerce, drop shipping, sites that require memberships, and SaaS companies. So Austin food truck owners: you’re probably out of luck with this one.
And if you haven’t built any websites like this, it might be good incentive to code in the new year. (But really, did you need more incentives to code in this job market?)
The creator of howmuchismysideprojectworth.com, Erik Pieters, is a legend when it comes to building side projects. He’s the man behind over 30 websites like HoodMaps, RemoteOk.io, and my personal favorite, Escape the Donald. It’s fair to say the dude who built this knows what he’s talking about.
But don’t get too excited: this site is not without its flaws.
Intangible stats like brand value, sector growth, and even domain names aren’t taken into account, so make sure to use this tool to give yourself only a general estimate.
Not sure where to start if you want to sell your product? If you want to do more market research, check out this article on the top five marketplaces for selling side hustles.
Get money, get paid.