If you follow me on Twitter you’ll know that I’ve been building software to help identify and research dividend growth stocks worthy of your investment dollar.
My goal with the software is to do the following:
- Make screening on dividend growth criteria ridiculously easy
- Deep dive into a company’s financials and dividend history quick
- Track your own portfolio and watchlist and get notified of events on those as soon as we know about them
This is a passion project that I started a couple years ago as a way to help me research stocks for my own portfolio. In February I really got started with Twitter and realized I can help a lot of people with their own dividend journey. So I decided to restart the project.
My intention isn’t really to make money, although I’d happily do so. I’m more interested in the tool existing and letting me get back to what I’m really good at, building software for startups.
With that being said I’m going to be ridiculously transparent on the cost of operations and development. I may even make the code open source in the future so others can join in the fun.
Below are the monthly expenses to run the app.
|Item||Cost / Month|
|Gumroad Premium Membership||$10|
|Servers & Databases (Heroku + AddOns)||$50|
|Iex Cloud Data||$9|
In addition I’m plowing 100% of my Too Much Money eBook sales into accelerating development. I’ve hired an old friend to help me with this. As some of you may know, good software development talent isn’t cheap. So in the last two weeks I’ve spent $1,300 in development costs and will continue to do so until release.
At that point I have a decision to make. How much can I afford to spend out of book sales to fund continuous development?
I’ve targeted about 5 hours per week which would be roughly $2,000 per month at $100/hour for a maintenance contract / retainer.
That makes the fixed costs to run the app around $2,100 per month.
That means the app will need a little bit north of 200 dividend aficionados at $10/month to break even.
I think this is achievable, but you never know what will happen!
Stay tuned on this front.