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.
Play the episode6 tactics
Numbers mentioned
| Who | Metric | Value | Context | When |
|---|---|---|---|---|
| Bank Statement Converter | mrr | USD 6,000/month approximate | 3:39 | |
| Bank Statement Converter | mrr | USD 14K/month approximate | 3:39 | |
| Bank Statement Converter | mrr | USD 27K/month approximate | 3:39 | |
| Bank Statement Converter | mrr | USD 40K/month approximate | 3:39 | |
| Bank Statement Converter | users | 75K users approximate | 3:39 | |
| Bank Statement Converter | paying users | 1,000 customers approximate | 3:39 | |
| Bank Statement Converter | count | 40K visits/month approximate | Website traffic per month | 3:39 |
| Bank Statement Converter | profit | USD 39K/month approximate | Of $40K monthly revenue | 8:26 |
| Bank Statement Converter | ad spend | USD 1,000 illustrative | Typical Google Search Ads spend unit, returning about $300 in sales | 4:07 |
| Bank Statement Converter | roas | 0.3 x illustrative | Google Search Ads: ~$300 sales per ~$1,000 spend | 4:07 |
| Bank Statement Converter | new customers | 1 sales | Sales from three months of cold emailing | 4:07 |
| Bank Statement Converter | new customers | 2–3 sign-ups/day approximate | Organic sign-ups noticed after cutting all ads (~6 months after launch) | 4:07 |
| Bank Statement Converter | time to milestone | 2–3 years approximate | Time until revenue covered the founder's rent | 9:28 |
| Bank Statement Converter | time to milestone | 1 weeks approximate | Time to build and launch the MVP (with a friend) | 1:35 |