I started a side project last year and it's been a fantastic experience. It's an opportunity to "scratch an itch" that the day job can't provide (which for me is doing whatever I want).
I had some frontend dev skills but didn't have the backend chops, so I hired someone on Upwork. I'm pretty busy at work so getting someone else involved is key (If I was by myself I'm not sure I would have stuck with it).
It's been a year and the app is doing about $3k/mo in revenue.
They have a pricing consulting business that finances it (http://www.priceintelligently.com/) so the data feeds their consulting business (I'd imagine). I use Profitwell and love it.
Over the past year I've grown my own software company from 0 - $1250/mo in revenue in a highly competitive space (lots of VC-funded startups).
It's not enough to do full-time yet, but there are distinct advantages I have that VC-funded startups don't. For example, I can serve SMBs/smaller companies, but for a VC-backed company these organizations aren't worth their time.
Clearly they have advantages I don't have either (time, headcount, etc), but the presence of a market is a great thing, because I don't have to guess if companies are willing to pay for it.
I had some frontend dev skills but didn't have the backend chops, so I hired someone on Upwork. I'm pretty busy at work so getting someone else involved is key (If I was by myself I'm not sure I would have stuck with it).
It's been a year and the app is doing about $3k/mo in revenue.