Can you achieve success in entrepreneurship while still being a university student? Today, let’s find the answer through the story of Muhammad Taimoor, who achieved that very dream. He started six side projects over six months and successfully sold five of them, earning $20,000. Are you curious about his secret? Let’s find out together.
The Challenge of a University Entrepreneur
Muhammad Taimoor has nurtured the dream of entrepreneurship since childhood. His first attempt at a side project at the age of 12 ended in failure, but it provided him with valuable lessons. Entering university, he became even more passionate about entrepreneurship, starting six different side projects over six months, successfully selling five of them. Each project generated monthly revenues of $50-$170, with total sales amounting to approximately $20,000.
The Magic of Fast Building and Selling
Muhammad believes that creating and selling multiple small items quickly is more effective than focusing on one idea for years. He explains that [by quickly making and selling products, you can learn from the market and customers, validate your ideas, and make money fast]. He emphasizes the importance of having a solid foundation that allows you to move on to other items if one fails.
Managing Projects with a 3-Step Model
Muhammad divides his entrepreneurial model into three stages. Each stage is based on the market niche, problem size, and potential profitability.
- Lower Level: Issues in very niche markets, specific targets, market gaps
- Mid Level: Fairly niche but big problems that can easily generate profits over the next five years
- Upper Level: Large markets, huge problems, easily profitable over the next five years, with at least 5-8 different use cases across various targets
Muhammad aims to conceptualize and launch products quickly, starting improvement work if things go well, or moving on to another idea if they don’t. He strives to complete each project from conception to launch within a month.
The Secret to Finding Ideas
To discover new ideas, Muhammad always visits communities to find bad reviews of products. His strategy is to explore existing markets and add value to verified items. He emphasizes the importance of analyzing competitors’ features and user flows to add his unique value.
Marketing Strategy
Muhammad’s marketing strategy varies according to the tier model. Lower-level products are introduced to his community, where he recruits beta testers for feedback. Mid and upper-level products are promoted through platforms like Product Hunt, Indie Hackers, and Hacker News to attract organic users. Once MRR reaches a certain level, he either sells the product or continues to grow it.
Two Important Things for Success
To successfully launch projects, Muhammad emphasizes two important things.
The first is to build your own community group. Following various people allows you to quickly understand market changes.
The second is to launch products as quickly as possible. He states that quickly launching and validating with users is effective.
Conclusion
Muhammad Taimoor’s secret to success lies in systematic planning, strategy, and rapid execution. Be inspired by his story and realize your entrepreneurial ideas. You can find new opportunities through quick trials and learning.