2020 Is Going To Be Monumental
I have spent the last few years of my life creating the building blocks for this year. All of the late nights building prototypes, time spent building my social media presence on Twitter and Youtube and time spent networking has all culminated to this year. All the pieces are here and it is time to put it into action.
With my apps in place I am not creating any NEW projects in 2020, all my time will be spent augmenting and improving the apps I already have on my servers and Android developer account. This includes spending more time blogging on this very website. This website will serve as a central hub for my progress this year on all my entrepreneurial endeavors in 2020 it’s all about ownership and controlling the narrative.
CloudMed Billing, Trusts Generator, QF Credit, TMAH, 401K Apps
These are the apps that I am focused on for 2020, all of them have brought me income or are in the position to bring income in 2020. CloudMed Billing was the first app that ever brought me residual income and is the center piece in my article from a couple years ago. It is a web app used by healthcare clinics to collect post-insurance payments on medical collections. It’s still going strong and I haven’t made any improvements to the app in about a year. My goal for 2020 is to make it a PWA and gather at least 3 additional clinics as clients. I actually do not plan on this being a long term asset that I scale up, right now it’s just a cool residual stream. If anything my exit strategy is to try and sell the app once I acquire 10 clinics.
Trusts Generator has done VERY well in its first few months of existence, I am really proud of the progress it has made and even prouder that I have created a product that directly helps the lives of people. Trust Generator is a PWA and Android application that allows for anyone to create a trust. The feedback I have gotten from those who have used my service is heart-warming. Especially in the black community we lose a lot of what little wealth we have to death and probate so to be able to provide a solution to that and make it affordable is a win-win. In 2020 my plan is to improve the UI/UX and do some targeted marketing campaigns.
QF Credit was the last app I put out in 2019. It too is a web app and Android application that assists with removing fraudulent and negative items from your credit report. Simply fill out the form and we will take care of reaching out to your creditors for you! All for the low cost of $9.99! The feedback for this has also been phenomenal and as a result I will be focused on rebuilding the UI/UX and doing heavy marketing campaigns.
Treat Me At Home took a back seat this year as I was figuring out legality issues with service providers in specific fields. Now that that has been sorted out I am spending this year growing my provider list in the Louisville area and FINALLY rolling out the product. The PWA and Android app are live and the iOS app will be finished soon.
Lastly there is 401K Apps! This is probably going to be my long term baby! It’s an investment app that allows you to own percentages of apps and websites and will be verified on the blockchain! It will be open to accredited and non-accredited investors! The app is being developed currently and more details will emerge over this next 2 quarters.
I feel like I have finally mastered this codelife thing 🙂 I will be keeping everyone posted on here and my Youtube page as well as Twitter. If I can live this life, you can too and I want to serve as motivation, here is to a clear 2020!
I Want To Quit My Job And Work Full Time On My App!
This is the number one comment I receive from app entrepreneurs. Many people have read my article describing my decision to pursue residual income full time and want to live that same lifestyle. I understand the allure and the desire for this however I always give them the same answer…it depends. In my most recent Tech Talk I discussed what those variables are but here is a synopsis.
How Much Do You Make A Year?
This is the first question I ask aspiring app entrepreneurs. Your lifestyle always adjusts depending on your income. With that being said if you make $100,000 USD a year and you have an app that makes $50,000 a year it might not make sense to quit your main gig just yet IF that $50,000 cannot provide the same standard of living that you are currently living.
What Is Your App’s Time/Income Ratio?
Back to the concept of app income, one of the next questions I ask app entrepreneurs is “What is your app’s time/income ratio?”. Meaning how much time are you having to put in to this app to generate the income you are receiving. Going back to the example of making $50,000 a year from one of your apps, if you have to spend 200 hrs/week just to maintain that $50,000 then it might make more sense to keep your $100,000 main gig and outsource development for your app (let’s say $10,000) and collect the rest and supplement income.
What Is The Life Expectancy Of The App?
Not all applications are meant to be around long term. If your app isn’t going to be around for more than 5-10 years. Don’t quit your main gig, it just does not make sense. There is ONE exception and that is if your app is making crazy amounts of money like Flappy Bird money
For A More In Depth Discussion Check Out The Tech Talk
Don’t forget to join my Tech Talk live broadcasts on Tuesdays and Thursdays and join the conversations in real time! If you enjoyed this content like and share this video and subscribe to my Youtube channel!