How this Soloprenuer made $40K per month from a Simple website
Who is Angus Cheng?
Before continuing the story lets know who is Angus Cheng and what is his background. So Angus is from Singapore. He completed his Bachlors of Computer Science from Charles Sturt University, Austrailia in 2009. After completing his Bachlors he got his first job in Datasmith as a Software Developer in Sydney, Austrailia. After for almost 3 years he came back to Honk Kong he founded his own gaming company (Baller Industries) where he developed many games for diffrent platforms like Xbox, android, IOS and Steam. Yes you heared it right before Bank statment converter started he was founder of a company. After 3.5 years he had to shutdown his gaming company andworked in many companies as a developer. In Nov 2020 he quit his job from the position of Senior Developer from tech company to start his own company.
Where did the idea come from?
It was very hard to get the data from pdf to excel and also banks were only providing statements in PDF format. It took him hours to get all the data. There was no tool at that time that can save him hours. The he saw a oppurtunity that same problem must be faced by many thousand or millions of people. So he decided why not I sholve this issue. And boom a Million dollar idea was born the BankStatementConverter.com.
The Initial Stage of Bank Statement Converter
As you know everything in this world takes time. For few months no one visted his websites he made 0 dollars also he had no job and all his reserved bank balance was going in negeative.
His first customer
So after launching his website had 0 revenue for few months. Even he faced loss like he told in a interview that he spent $1000 on ads and got $300 of revenue. He also thought to shut it down and find a job. But because of his entrepreneurial experience from his previus gaming company he waited patiently and changed some marketing strategy and booom all his patience paid off.He got his first paying customer in mid of 2021 and his website reached $6000 MRR (Monthly Recurring Revenue) in 2022 , In 2023 his website reached $14000 MRR, in 2024 $27000 and in 2025 BankStatementConverter.com crossed $4000 MRR. His website now have 75000 active users out of which 1000 users are paying for his service.
Tech Stack behind Bank Statement Converter
Angus wrote his whole code in Kotlin yeah you heard right Kotlin. Most of know that it is used to build only android apps. I was also shoked by that what? Kotlin?
But that not the complete part he used Kotlin for backend and Javscript for front end. He hosted his website on two platform Amazon Web Services for backend hosting and Netlify for frontend hosting
Netlify for front hosting
As earlier told Angus did every marketing tactics like Google Ads, cold mailing and posting in forums to get customers for his BankStatementConverter.com website but nothing worked. So what Angus did different. Angus realised few customers who were paying for the service were giving feedback by mail and these are coming back means they were also retaining customers. He replied to every mail or feedback he recieved even at late night. For 2 years he patiently did the same thing from replying the customers to improving the product according to feedback given by customers. And his website widely got popularised among the people and because of word of mouth he soon gain success and his customer base increased.
Amazon Web Services for backend hosting
and for payment processing he use Stripe.
Strategy Behind Sucess of Angus Cheng
Word of Marketing is the best form of advertising
What we can learn from Angus Cheng?
First lesson Angus taught us that you dont need a big idea, you just have to notice the problem around you even a simple solving simple problem make you rich. Converting a bank statement to excel data is simple thing, everyone faced the same issue, no one tried to solve it but he noticed the oppurtunity behind it when he faced the same problem. He didnt tell himself that why I should solve it because there was no tool to do the same thing. So notice every simple problem and try solve it and then sell it to others.
Second lesson we can learn form him that as soon as you see the problem solve it immediately. Angus faced the problem he made the tool within week in his own apartment with the help of only his friend, no big office, no big teams, no big funding. All by himself and his own money, completely bootstraped.
Some of you are thinking who donot come from tech backgorund like Angus. Because Angus knew how to code and he was Software developer so he did it all by himself. Even if I got idea how will I solve this I need team, for team I need office and I need lot of money for paying salary to the team and also to pay the rent all this. How?
In today's world many big tech companies are writing thier codes or making thier apps by using AI. Yeah, with th help of AI. Even many companies are replacing thier tech employees with AI. And many companies build thier million dollar company only by using AI. You can use Emergent, Replit or Google studio to code websites and Lovable AI to build mobile applications.
In today's world many big tech companies are writing thier codes or making thier apps by using AI. Yeah, with th help of AI. Even many companies are replacing thier tech employees with AI. And many companies build thier million dollar company only by using AI. You can use Emergent, Replit or Google studio to code websites and Lovable AI to build mobile applications.
How A.I. Helped One Man (and His Brother) Build a $1.8 Billion Company
You can read this article How A.I. Helped One Man (and His Brother) Build a $1.8 Billion Company This company still running by his founder and his brother genrating revenue over $500 million a year.
At the end I want to tell you go find a simple problem, build MVP immedialtely even if you dont know how to code use AI and sell it to the customers who need that solution. For tpday I am sigining off. Take care Byeeeeeee.
