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Til bankruptcy do us part
Starting a business with your partner might sound extra risky, as you could end up losing both the business and the partner should it not be successful.
Did you know that in the UK 1.4M businesses are run by couples? Also, 43% of businesses in the US are family-run.
Will you start a business with your couple?
This couple did it and now pull in $1M/year selling stuff you'd find in your kitchen.
Some more examples:
- Joe and Megan pull in $6M/year with their unique take on protein powder
- This real estate couple makes $6M/year
- Kelan and Brittany's courses make $240K/year
Want even more examples? Check out these 18 successful business ideas started by couples.
Why you should care
Did you know that 65% of startups fail due to conflict among co-founders?
Even if you can find a potential co-founder with the right skills, you may not vibe with them on a personal level.
Why not choose someone you already trust and vibe with? The perfect co-founder may be closer than you think.
By the numbers
- $47M -> the combined yearly revenue of these 18 businesses run by couples
- 5 million -> customers PDD Falcon has served
- 1.5 million -> YouTube views of their Shark Tank appearance
Can't find a co-founder?
We know how hard it is to find the right co-founder, so we did a deep dive into our case studies and found the 13 most common ways people find co-founders.
5 other stories worth checking
💰 This guy bought 40 businesses in 3 years. I love the idea of buying businesses instead of building them. Why spend years trying to get traction when you can have customers and generate revenue from Day 1. More examples: Jake bought this website and tripled revenue in 6 months, and Christopher bought this business and took it from a few hundred dollars to 5 figures per month.
💸 Speaking of acquisitions, this guy just sold a business that he built in high school. He was struggling with growth, selling the business and cashing out was a smart move in that situation.
📦 This company is building an alternative delivery system. More than 50% of online shoppers abandon their carts at checkout because of the high cost of shipping, which means that the current system doesn't work for lots of people. Their solution results in an 8% to 34% increase in conversion rates.
👠 This company grew its revenue to $8K/month by starting an online community. Instead of relying solely on individual consultancies, now they have a recurring revenue stream. Online communities are hot, Discord recently reached 300 registered users. You can build a profitable community around pretty much any niche: indie founders ($2K/month), fighting fake news ($10K/month), remote workers ($1K/month), or learning to code ($25K/month).
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Billions will be made off this API
Although that's cool, let's take a step back and remember the last product they launched, GPT-3.
One thing I did not expect from the GPT-3 launch: that companies would make a killing off that API...
An entire industry was built on top of the GPT-3 API.
- Copy.AI, a simple tool built on top of the API raised $11M Series A (we use it and love it)
- This AI chatbot builder makes $2M/year
- An AI content enhancement tool just closed a $10M investment round
- A $360K/year AI writing app built by a self-taught programmer
Why you should care
This is only the beginning for AI. Whenever these new AI tools come out, I can think of hundreds of businesses that can be created.
For the new Dall-E 2, here are some potential business ideas: logo generator, mascot creator, album art creator, book cover creator, blog post image creator (I would love that), design mockups, and the list goes on...
I would get on that waitlist if I were you.
By the numbers
- 10 -> top industries will be disrupted by AI before 2030
- $3M -> Copy AI yearly revenue with just 5K customers
- $100K -> generated in just 2 months by this self-taught programmer
One last thing...
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P.S. Again, a huge thank you to Klaviyo - our sponsor at Starter Story. Try Klaviyo today!
Want to start your own business?
Hey! 👋I'm Pat Walls, the founder of Starter Story.
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