This is a case study of Bank Statement Converter, a very simple product that converts Bank Statement PDFs into CSV. The hypothesis of this video is that the best startups are the ones you never hear about, and that building a boring product is more sustainable than following conventional advice. I personally believe that Bank Statement Converter is an excellent example of what to do when creating a product.
References
Bank Statement Converter: https://bankstatementconverter.com
Angus Cheng’s Book: https://bankstatementconverter.com/book/
Timestamps
0:00 – The Perfect Startup
1:15 – Origin Story
4:15 – Outsourcing
5:38 – Validation
7:00 – Tech Stack
7:53 – Development Process
9:36 – Scaling
12:05 – Customer Success
15:55 – Markettng
16:44 – Final Thoughts
> his friend DOM
I see wut u did there 😁
Could be an opensource project surpriaing no one does this for free with only ads on their site
Wow, what a wonderfully boring video with alot of content and information and well narrated, you just got a new sub. keep them coming bro
more videos like this please
14:15
Mo’ Money, Mo’ Problems
I think you’ve way understated a very important point: the technical moat he has. I haven’t used bank statement converter, but if it works well enough to be trusted by businesses then the technical challenge this guy overcame is huge. He has a massive technical moat that basically nobody is going to be incentivized to overcome for $20k a month. The fact that he came up with a DDL to specify pdf parsing behavior goes to show the depth of the moat and how much faster he can move than any potential new competitor.
I just needed this kind of app as well to convert my bank statements
Nice content, keep it up brother
Ive seen people making a lot of money by creating simple website that is doing simple tasks
Boring days are peaceful days