GTM Sauce

Starter Story · 2025-07-20

I make $40K/month with this one website

Angus Cheng, a Hong Kong developer, built Bank Statement Converter (PDF bank statements to Excel) after hitting the problem himself. He and a friend shipped an MVP in about a week and validated it with Google Search Ads. Ads never ran profitably ($1K spend for ~$300 sales), and blogging, building in public and cold email barely moved sales. After cutting ads he saw 2-3 organic sign-ups a day and focused on fixing what customers asked for. Solo and bootstrapped, it grew from $6K MRR (2022) to $40K MRR, ~$39K of it profit.

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6 tactics

Bank Statement Converter · PDF bank statement to Excel converter

Visitors started uploading bank statements immediately

Hit the problem himself (bank only gave PDF statements; he wanted years of data in Excel). Wrote a Kotlin console app for his own bank, generalized it by testing on his other banks and friends' banks, and had a friend build a Next.js UI. Built in about a week, bought a domain, launched, then bought Google Search Ads to send traffic. Shows it to the target audience, not friends and family ('they'll just lie to you'). If an MVP takes 1-2 weeks, just build it rather than validating first.

Workedvalidationpaid-search
Starter Story · 2025-07-20

Bank Statement Converter · PDF bank statement to Excel converter

Never profitable: ~$300 sales per $1,000 spent; cut after 6 months

Ran Google Search Ads from launch for about 6 months and spent a lot of time optimizing campaigns for profitability.

Failedpaid-search
Starter Story · 2025-07-20

Bank Statement Converter · PDF bank statement to Excel converter

Got attention but few users; customers don't read Twitter or the blog

Tried blogging and building in public on Twitter.

Failedfounder-brandcontent
Starter Story · 2025-07-20

Bank Statement Converter · PDF bank statement to Excel converter

One sale in three months, plus many angry replies

Sent cold emails for three months. Targets and volume not stated.

Failedoutbound-sales
Starter Story · 2025-07-20

Bank Statement Converter · PDF bank statement to Excel converter

2-3 organic sign-ups a day, growing to $40K MRR from $6K in 2022

After cutting ads, every visitor was organic, so he could see 2-3 new sign-ups a day arriving on their own. From then on he focused on the product: fixed whatever customers complained about by email, and used analytics (drop-off pages, unused features) to decide what to build or stop building. Advises skipping social media pages and followings entirely and focusing on the product.

Workedfeature-developmentword-of-mouth
Starter Story · 2025-07-20

Bank Statement Converter · PDF bank statement to Excel converter

Founder says early customers mattered a lot to MRR; no numbers

In the first two years, replied to customer emails as soon as possible, including dealing with a 3 a.m. email immediately, because each extra customer moved MRR noticeably.

Unknowncustomer-support
Starter Story · 2025-07-20

Numbers mentioned

WhoMetricValueContextWhen
Bank Statement ConvertermrrUSD 6,000/month
approximate
3:39
Bank Statement ConvertermrrUSD 14K/month
approximate
3:39
Bank Statement ConvertermrrUSD 27K/month
approximate
3:39
Bank Statement ConvertermrrUSD 40K/month
approximate
3:39
Bank Statement Converterusers75K users
approximate
3:39
Bank Statement Converterpaying users1,000 customers
approximate
3:39
Bank Statement Convertercount40K visits/month
approximate
Website traffic per month3:39
Bank Statement ConverterprofitUSD 39K/month
approximate
Of $40K monthly revenue8:26
Bank Statement Converterad spendUSD 1,000
illustrative
Typical Google Search Ads spend unit, returning about $300 in sales4:07
Bank Statement Converterroas0.3 x
illustrative
Google Search Ads: ~$300 sales per ~$1,000 spend4:07
Bank Statement Converternew customers1 salesSales from three months of cold emailing4:07
Bank Statement Converternew customers2–3 sign-ups/day
approximate
Organic sign-ups noticed after cutting all ads (~6 months after launch)4:07
Bank Statement Convertertime to milestone2–3 years
approximate
Time until revenue covered the founder's rent9:28
Bank Statement Convertertime to milestone1 weeks
approximate
Time to build and launch the MVP (with a friend)1:35