Hey! Are you waiting for another interesting story to get some business ideas? Then, you’re in for a treat. Today, we have a story that will push you to think about starting something like this.
But before we dive in, let me ask you something.
If I told you that you could earn $10,000 a month by converting PDF bank statements to Excel, what would you say? Sounds too simple, right? That’s exactly what Angus did: turn an everyday hassle into a fully automated business.
Well, let me tell you the story of Angus. How he turned an everyday problem into a thriving business using nothing more than a common problem and a bit of smart marketing. A bank statement converter.
This isn’t just another startup story. It’s about identifying a problem that millions of people face daily and solving it in the simplest way possible. Angus’ journey is one of persistence, creativity, and minimalism. A reminder that you don’t need a complex solution to build a successful business.
The best part? He didn’t chase all the shiny new social media trends to market his business. Instead, he chose one proven strategy that worked like magic. This could inspire you to think about other everyday problems you could solve—and turn into a business, too.
Meet Angus Cheng
Angus wasn’t always a successful entrepreneur. Like many of us, he was a regular guy with a knack for technology.
Angus wasn’t born with a silver spoon in his mouth, nor did he have a tech empire handed to him. He was simply an internet marketer with a background in developing small online games and side projects.
On a good month, he was making between $500-$1,000. It wasn’t much that could give him the financial freedom he craved.
One day, Angus decided to take a closer look at his finances. Little did he know that this simple act of financial responsibility would lead him down a path to entrepreneurial success. Like many of us, Angus had a ton of questions about his finances. He wanted to see how much he was spending and saving each month.
He did what any sensible person would do. He requested a bank statement from his bank, and he received it in PDF format. 🧾
Now, if you have ever received a bank statement, you know an issue that’s common for everyone. You know how frustrating it can be to calculate expenses using a PDF. PDFs are great for viewing but not so much for number crunching.
A Simple Solution and Spark of an Idea
As Angus sat down to analyze his spending habits, he encountered the same problem that countless individuals face daily. Angus, who already had some coding skills, decided to solve the problem for himself.
What did Angus do?
He did some coding and built a simple software program that would convert PDF bank statements into Excel or Google Sheets files. A format that made it easy to perform the calculations he needed. This was a tool just for him, at least at first. It took him just two days to code the software.
The Birth of an Idea: Bank Statement Converter.
Once Angus had successfully converted his bank statement, he realized something. He started thinking that if he needed this tool, surely others would, too. He wasn’t alone in his frustration with PDF bank statements. Could this simple tool be the basis for a business?
That’s when Angus had his spark moment.
He decided to turn his personal tool into a product that could solve this common problem for others. So, Angus took the next step and created a website: BankStatementConverter.com.
A boring-looking website. Where people can upload their bank statements in PDF format and instantly receive a downloadable Excel or Google Sheets file. And just like that, what started as a personal side project became a product with market potential.
Now, that’s one part of the madness. Next comes the main problem.
How to find customers who need this?
Finding the Right Audience
At this point, Angus had something valuable—A product. But like many newborn entrepreneurs, the challenge was far from over. Angus needed to figure out how to find customers who would pay for his service. Angusknew he had to get the word out, but he wanted to keep his marketing efforts simple and focused.
Where entrepreneurs often feel pressured to be everywhere at once like – social media, content marketing, email lists, and more – Angus took a refreshingly simple approach. He identified where his potential customers were already looking for solutions.
He could have built a social media presence, created content for a YouTube channel, or even started a blog. But Angus decided to take a different path that could deliver fast results.
Angus went to Google Ads and bought some ads for keywords like “bank statement converter”, convert PDF into Excel, etc. and that was it.
This mindset shift was crucial for him. Instead of trying to be everywhere at once, Angus focused on the one place where people actively search for solutions. And this targeted approach paid off.
Soon, Angus started getting customers. His simple, practical solution resonated with people facing the same problem. Within a year, Angus’s little business was making $10,000 a month. The best part? It was 99% automated, requiring minimal time investment from him. Angus had struck gold with a straightforward, everyday solution.
Let’s break down some key statistics to put this success in perspective:
According to a recent survey by Zapier, 40% of Americans have a side hustle, but only 10% make over $1,000 per month from it. Angus’s business has far surpassed this benchmark.
The global document management market, which includes PDF conversion tools, is expected to reach $11.47 billion by 2026, according to Market Research Future. Angus has tapped into a growing market with significant potential.
This story of Angus is compelling for several reasons:
Relatability: We’ve all faced the frustration of dealing with PDF bank statements.
Simplicity: Angus didn’t overcomplicate his solution or his marketing strategy.
Scalability: The business became almost entirely automated, requiring minimal ongoing effort.
One of the main reasons Angus’s story is so inspiring is its simplicity. He identified a common problem, developed a straightforward solution, and marketed it effectively. He didn’t overcomplicate things with unnecessary features or marketing channels.
Lessons for Aspiring Entrepreneurs
Angus’s story is not just a tale of financial success; it’s a lesson in identifying and solving everyday problems. Here are some key takeaways from his journey.
Solve Real Problems: Angus’s success came from addressing a common, everyday frustration. As entrepreneur and author Tim Ferriss often says, “The best businesses solve problems that the founders themselves have.”
Start Small: Angus began with a simple solution and a basic website. Don’t let perfectionism hold you back from launching.
Focus Your Marketing: Instead of trying to be everywhere, Angus concentrated on one effective channel. This aligns with the advice of marketing expert Seth Godin, who advocates for finding your “smallest viable audience.”
Leverage Automation: By automating his business, Angus freed up his time to focus on other ventures or simply enjoy his newfound financial freedom. Automation is a powerful tool for scaling a business without increasing workload.
Share Your Journey: Angus documented his experience on his blog, potentially opening up new opportunities and helping others learn from his success.
A Model for Everyday Innovation: The IDEA Framework
Angus’s success story provides a blueprint for aspiring entrepreneurs. Let’s break it down into a framework we’ll call IDEA:
Identify an everyday problem
Develop a simple, effective solution
Execute with focus
Automate for scalability
This framework can be applied to various industries and problems. As noted by Peter Thiel, co-founder of PayPal, in his book “Zero to One “: “The best projects are likely to be overlooked, not trumpeted by a crowd; the best problems to work on are often the ones nobody else even tries to solve.”
Your Turn to Identify an Opportunity
Angus’s story is inspiring, but it’s also replicable. The key is to open your eyes to the everyday problems around you. Here are some questions to ask yourself:
What tasks do you find tedious or time-consuming in your daily life?
Are there inefficiencies in your workplace that could be solved with a simple tool?
What complaints do you frequently hear from friends, family, or colleagues?
Are there analog processes in your industry that could be digitized?
What simple technologies could be combined in new ways to solve a problem?
Remember, as Reid Hoffman, co-founder of LinkedIn, once said, “An entrepreneur is someone who jumps off a cliff and builds a plane on the way down.” Your idea doesn’t need to be revolutionary; it just needs to solve a real problem effectively.
Climax and Resolution
The beauty of Angus’ business lies in its simplicity. The website wasn’t fancy, the product wasn’t revolutionary, and the marketing strategy was basic. Yet, it worked. Why? Because Agnus had found a way to solve a real problem that many people face every day.
Instead of trying to reinvent the wheel, Angus focused on solving a specific problem in a highly efficient way. His experience teaches a valuable lesson: sometimes, the simplest solutions to everyday problems are the most lucrative.
And what’s even more remarkable is how little effort it took to maintain the business. Angus didn’t need to work 80-hour weeks or manage a huge Team. Everything was streamlined and automated, freeing up his time while the revenue rolled in.
So, are there any everyday problems you can solve? Start thinking about solutions. Take a moment and give yourself 48 hours to brainstorm. Who knows, your next big business idea might be right under your nose.
If Angus can do it, so can you.
BusinessPrelite is here to help you start your Entrepreneurial Journey.
Because we believe anyone can start a online business with the right Guidelines.
Stay tuned to our blog for more tips, success stories, and expert advice. And don’t forget to share your thoughts and experiences in the comments below! 👇
