I loved this discussion and I learned a lot from reading the responses.
I have a side project that is not profitable but has been around for almost 4 years. It's called Ben's Friends (http://bensfriends.org/) and we build patient support groups for people with rare diseases (here is our 60 second video: http://youtu.be/YBeRFnJkleU).
It's almost impossible to monetize a patient support site, especially for rare diseases, so I've known for a long time we wouldn't make money. However, we've become one of the largest patient support networks on the Internet. I've put a lot of my money into it and we've run out of money many time, but something good always happens and we stay afloat.
Here is some unsolicited advice:
-Keep your side project alive for as long as you enjoy it. You never know how things will change. When we started there was no such thing as crowdfunding. Last year we managed to pay all the bills through an IndieGoGo campaign: http://www.indiegogo.com/Bens-Friends-Builds-Support-Groups-... - we never dreamed Crowdfunding would exist, now it's our lifeblood. Reading through many of the responses below, they are public service projects. It's very likely you could do at least a small crowdfunding to pay the bills if you need it.
-Who cares if you don't make money? You get to do something you love. That makes you incredibly lucky. Also, almost every person here has tons of opportunities so you can make money on something else. Again, that makes you lucky.
-Change the way you measure success. Most people measure success with money. Since we weren't going to make any money on Ben's Friends, we started measuring how many thank you emails we received every day. I get about 25 thank you notes a day - completely unsolicited. Your measurement may be usage, or reach or whether your girlfriend likes your app. Whatever it is, focus on that. It will make you a lot happier than money.
-If you are going to do something that doesn't make a lot of money, do it with a partner. It will be more fun, you'll pick each other up when things are down, and with both of you brainstorming and iterating, there is a much better chance it will get traction and eventually become something. Ben's Friends never would have gone anywhere without my partner, Ben Munoz. Good partnerships turn into great friendships and they are one of the best things about starting something.
Hope this helps. thanks for posting a great question.
It's almost impossible to monetize a patient support site, especially for rare diseases, so I've known for a long time we wouldn't make money. However, we've become one of the largest patient support networks on the Internet. I've put a lot of my money into it and we've run out of money many time, but something good always happens and we stay afloat.
Here is some unsolicited advice:
-Keep your side project alive for as long as you enjoy it. You never know how things will change. When we started there was no such thing as crowdfunding. Last year we managed to pay all the bills through an IndieGoGo campaign: http://www.indiegogo.com/Bens-Friends-Builds-Support-Groups-... - we never dreamed Crowdfunding would exist, now it's our lifeblood. Reading through many of the responses below, they are public service projects. It's very likely you could do at least a small crowdfunding to pay the bills if you need it.
-Who cares if you don't make money? You get to do something you love. That makes you incredibly lucky. Also, almost every person here has tons of opportunities so you can make money on something else. Again, that makes you lucky.
-Change the way you measure success. Most people measure success with money. Since we weren't going to make any money on Ben's Friends, we started measuring how many thank you emails we received every day. I get about 25 thank you notes a day - completely unsolicited. Your measurement may be usage, or reach or whether your girlfriend likes your app. Whatever it is, focus on that. It will make you a lot happier than money.
-If you are going to do something that doesn't make a lot of money, do it with a partner. It will be more fun, you'll pick each other up when things are down, and with both of you brainstorming and iterating, there is a much better chance it will get traction and eventually become something. Ben's Friends never would have gone anywhere without my partner, Ben Munoz. Good partnerships turn into great friendships and they are one of the best things about starting something.
Hope this helps. thanks for posting a great question.