4 Fast Business Ideas To First $1,000 MRR

If you're just getting started with your first online business, getting to $10,000 MRR, $20,000 MRR, or even $83,333 MRR can seem incredibly overwhelming—almost impossible to imagine. If you’re already on track to hit these goals, that’s awesome! Keep doing what you’re doing. But if you’re not, maybe you haven’t made your first dollar online yet. Then this article is for you!

When you're just starting out, you should focus on hitting your first milestone of $1,000 monthly recurring revenue (MRR). I'll show you four ways that might not be big, million-dollar ideas, but they will get you to $1,000 MRR much easier and faster than most other approaches. Let's dive in!

1. Build a "Wrapper" Tool

Let me start by showing you a few popular indie tools. If you take a look, you might spot that they all share one commonality: they’re essentially cutting-edge AI tools. But there’s a catch! They work as what we call "wrappers." This means they take existing technology (like OpenAI, Replicate, and Eleven Labs)—tools created by some incredibly smart people—and use their APIs to wrap them in a unique user interface (UI).

In short, these tools primarily act as a front end. Many of these founders are great at spotting business opportunities and then marketing them on social media. Some of these tools are generating tens—even hundreds—of thousands of dollars monthly!

Advantages

• Easy to build and maintain.
• Can tap into emerging AI technology.
• Potential for high revenue with low initial investment.

Considerations

• Dependence on third-party tools.
  They will eat into your profit margins.

If you’re looking for something easy to build that can get you to that $1,000 MRR range quickly, consider building a wrapper tool!

2. Create Boilerplates and Starter Kits

The next approach involves something that takes a bit more time to set up initially and usually requires some technical knowledge. However, once created, it has the potential to generate revenue passively. I’m talking about selling boilerplates and starter kits.

Now, I know there are tons of boilerplates on the market already, but the market is always evolving. Many existing boilerplates are outdated, bloated, or lack key features for today’s tech stacks. If you can identify a niche, there’s almost always room for another tool.

Examples of Niche Boilerplates

• A boilerplate specifically for startups with integrations like Stripe.
• A template for an AI-powered app leveraging OpenAI.
• A boilerplate that helps others build wrappers faster.

Once built, these can become passive income streams. Just ensure your boilerplate solves a problem and is well-documented.

3. Develop Custom AI Chatbots

Now let’s explore something a bit more futuristic. A year ago, OpenAI announced custom GPTs, presenting a huge business opportunity. However, interest quickly waned because many of these custom models simply don’t perform well.

However, the concept itself still holds promise! If you have specialized knowledge, you can create a custom AI model trained on your expertise. For example:

Potential Custom AI Applications

• A lawyer specializing in a specific domain could train a chatbot to provide legal advice.
• A fitness coach might offer guidance that's tailored to specific dietary needs.
• A financial advisor can share investment advice with clients through an AI agent.

Specialized knowledge will always have value! While you can't use OpenAI’s custom GPTs effectively, you can fine-tune your models and create something worthwhile.

4. Productize Your Services

When most of us hear "monthly recurring revenue" we think about Software as a Service (SaaS). But what if you could capture repeat clients in an actual subscription model, just like SaaS? This concept is gaining traction among digital agencies of all kinds—whether it's design, web development, marketing, or social media management.

Here's the key: you need to productize your services. This means turning what you offer into a packaged deal with clear deliverables that clients can expect each month. For instance, you might provide a set number of designs or regular updates to a website.

Benefits of Productized Services

• Helps avoid burnout by systemizing your work.
• Streamlines the delivery process.
• Offers clients peace of mind and ongoing support.

If you charge $500 per month, you only need two clients to hit that $1,000 mark!

Conclusion

The focus for these four approaches is to achieve a monthly recurring revenue of $1,000, but none of these ideas are limited to that! Most examples can lead you to make much more. While they are beginner-friendly, there's no barrier that stops you from scaling to $10,000 or even $20,000 MRR!

If you’d like me to expand on any of these approaches, let me know in the comments! If you found this information valuable, please like this article and subscribe for more insightful content. See you soon for another post!