First, you can sell your hours to a company as an employee and earn its stocks. Eventually, you can get a lot of stocks, sell them, and become rich. This can work, but it is gambling. Why? Because you will only earn a significant amount of money if you join the right company at the beginning. No one will give you many Twitter-like company stocks today.
The second option is to build your own company and make an exit. Only 6% of companies make it to an exit. So if you are ready to play the big game, you can try. A try costs 7 years and 999 pounds of stress Enjoy!
There is a big downside that makes those 2 ways to become rich fail by design. They offer you to earn a pile of money. Then you will need to become a financial expert ASAP because your money will start to melt. Chances are, you will lose all your capital in 5-10-20 years.
Thus, you need to build streams of revenue, not a pile of cash.
Fine. You can create a plugin for a platform such as WordPress, or Shopify. Cool, but according to Shopify, the average app revenue is $2,138 monthly per app. Count on the risk of a platform going away and you will understand that this way will never give you financial freedom.
Making SaaS get recurring revenue from subscriptions sounds like an option. But eventually, 90% of all products fail. Does not sound like a bulletproof way to become rich either.
The ideas above may sound demotivating. This is because they are. The world does not have an acceptable way for developers to build their own financial freedom yet. A developer must be a strong person with great motivation to go through the stress and become rich.
So how will a smart developer do that in the nearest years? By creating micro-apps
Any modern developer has thousands of lines of code that they reuse. Those lines can be wrapped up into a full-stack module aka micro-app and sold to people who create apps for clients or for themselves for a monthly fee. For a developer, it will look like building 100 SaaS products but with less hustle. And with no need to market besides publishing them on the marketplace.
Some of your micro-apps will die unnoticed, some will be used by others and bring you cash. As years pass and you as a developer create more code and wrap it into micro-apps, your revenue stream grows. You will be paid not by a single employer, but by thousands of them. Which is way more sustainable.
Thoughts???
