It’s day 101, and that’s a great day to get after it.
It’s now six weeks into COVID and I’m settling into a new normal/workflow with this virus situation. Taking a retrospective look and evaluation, here’s what I’m noticing:
- I’m waking up much later than I’d like, which I’m justifying because I have less day-job work (Negative)
- I’m eating less healthily because veggies are harder to come by during COVID (Negative)
- I’m working out less because I’m bored of doing jump squats in my apartment (Negative)
- I’m spending less than 90 minutes a day on my day job (Positive)
- Consulting clients seem generally more hesitant on hiring (Negative)
When I look at that list, that’s a lot of negatives to only one positive.
However, I’ve been mentally telling myself that COVID has generally been a positive impact on my life and business. This thought has been largely driven by the fact that I’m not going into the office and have very little “day work” time.
That’s an interesting realization because it very much goes to show that I’m not finding a lot of day-to-day value out of my day job and I prioritize not doing it more than health, exercise, and consulting clients being slow on hiring.
That is a strong, crazy realization when you think about it!
I took my day job because it’s a venture-backed startup. The opportunity to work in that space, knowing that I will eventually be going into starting a business space myself, has been extremely valuable and a fantastic learning opportunity.
It’s also allowed me to do side consulting, which I couldn’t have done while in big consulting. I doubt BCG would have looked kindly on me competing with them by trying to sell my own consulting work! That side consulting has also been a huge learning opportunity and a huge revenue stream because it’s given me enough to afford my half of the down payments on the 13 investment units my finance and I own.
There are also a bunch of people I’ve met at this startup that I believe are extremely talented and from whom I’ve learned a lot. There are also a bunch, unfortunately in key positions, who I don’t think are as talented!
I think maybe it’s that last bit that makes me excited to not have as much work for them during COVID?
Or, maybe it’s the fact I can concentrate on the side work that has me so excited.
Or, maybe it’s a combination of all of the above?
Either way, I’m excited.
What I did today to make $10K a day at 30
The current phase of the plan
I’m in Phase #1: The Job & Side Hustle Phase. You can read more about the phases and my plan to get to $10K/a day at 30 here.
Wake up & sleep:
I went to bed at 11:08pm and woke up at 7:29 for a total of 7 hours and 28 minutes of sleep. If you’ve been following along with these posts, then you’ll notice that I’ve fallen into this sleep pattern, as also mentioned above.
I’m trying to decide if it’s worth getting up early to get stuff done. On one hand, I don’t need to get up early because I don’t have to get hours of work done before going into the office. On the other, discipline matters and I feel like it’s worth it, just to develop that discipline.
One additional data point: I’m only at 52% recovery on the Whoop. That’s low, and it needs to be better
I closed my laptop at roughly 5:30 yesterday (early, I know) and then walked around the apartment for an 90 minutes to get to 10,000 steps. While walking, my fiancee and I listened to How I Built this for S’well. Absolutely worth a listen, and it shows the value of internal hustle.
Diet was very simple. I had morning coffee while reading my morning rituals and doing the real estate scrolls. I took a break at lunch for my only real meal of the day, which was a ton of pasta with spinach.
I wasn’t hungry the rest of the day, which I think is because I’m not moving that much anymore! My body needs less food. Is that how that works?
My Day Job
It was a Wednesday. I had two or three calls, but that was it. I spent maybe 90min working on day job work.
Investment real estate
I scrolled the standard real estate scrolls. I really like this property I found in North Dakota. It’s near a university, but underpriced because it’s North Dakota. I firmly believe property outside of the “coasts” is under priced.
I’ll buy it once I pick up the 24 unit and 25 unit I’ve been talking about.
I also spoke via phone today with the property manager for the 7 unit. They’ve been a bit slow on getting things done, to the point that property only has 3 of 7 units occupied with paying tenants. That’s not enough to cover expenses.
We’ve tried a couple of different strategies to motivate them, but that hasn’t worked. I told them this go around that we have a baby coming and can’t afford to be losing money on the property.
That did work because now they’re getting stuff done. My goal is to have two more units rented ASAP, then evict the non-paying tenant (who hasn’t paid in 6 months), then get someone new in.
Then, the cash flow will be great!
I have two projects going.
I’m helping a team with an augmented reality start up now. My work yesterday was a couple of hours spent on building out a go to market strategy. What’s fortunate about this business is I think there is a very logical GTM built into it, based on the user base. I don’t know who will try to execute this plan, but it’s easily a million dollar business.
There’s ~2 weeks left in this project.
The other project is for a private equity firm. They’re trying to evaluate a specific market and want me to do a diagnostic of that market to help them better understand if the market is growing or declining, and where the opportunity is.
We had a kick-off call yesterday for ~15min, and I have a week to get this done, with a first check-in on Friday of this week. I need to move, quickly.
Well, now that my Amazon Affiliate business is gone, but I have paid for a bunch of web tools, I’m going to focus on growing this website. I spent an hour or two sketching out a re-design for the site that I sent over to my Fiverr guy.
My fiancee and I walked around the apartment today and spent some time just chatting about COVID and life. I love her.
This wouldn’t be possible without her….you need a partner in life to get done what you want to get done.
Nothing misc done today; it was a pretty straight forward day.
What I made today
Rental Income: $33
Today’s pro-rated amount of monthly expenses
Once I pay off my debt, I’ll break out expenses into a line by line as well.
My plan for tomorrow
Tomorrow is going to be:
- Call with my business plan client to make sure that he’s happy with the direction I’m taking things
- A few calls with the day job
- Probably 3-5 hours on my private equity diagnostic to get smart on the industry real fast.
I have a VA I love on Fiverr who does research for me. I paid him $20 to compile all the market studies, analyst reports, and white papers on the industry. I’ll read them myself and start to generate hypothesis very quickly on the industry from there!
About the Author & The $0-$10K/Day Case Study
Dean’s goal is to create $10,000/day in passive income through entrepreneurship. Too many people write “success porn” that skates over the struggles many face in entrepreneurship. His goal is to create something real that highlights the lack of sleep, disappointment from family, and setbacks you really face in entrepreneurship.
To read more about how this case study is set up, check out the ground rules here.
The hope is that this series of posts will inspire someone else out there to make their entrepreneurship dreams happen.
Dean Woods is currently an executive by day and a bootstrapped micro-startup CEO by night. Prior to working in startups, Dean was a management consultant. Dean graduated with honors from The Wharton School.