The $0-$10K/Day Case Study: Day 132

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Day 132

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My fiancee and I had a phone call yesterday with a friend. This is “Person B” below. During that conversation, we noticed a bit of an interesting comparison between two different people that we know.

Person A: 

Person A is in his mid 20’s and attended a top-ten university and a top-five  MBA program. He has above-average intelligence and shows a diligence that has helped him obtain academic success in his career. He has accepted a job at a good, but non-MBB, consulting firm. He will comfortably make $200K+ per year over the next few years as a consultant. He’ll work 80 hours a week and follow the rules over the next few years.

He is the epitome of a well-credentialed person who will enjoy a solid career in client services while working a shit ton of hours.

Person B:

Person B is in  his low 20’s and does not have the academic background that Person A has. He graduated from a below-average state school after transferring from a small school not viewed for it’s academics. While I wouldn’t call him “dumb”, he is not nearly as naturally intelligent or as diligent as Person A. He has a 9-5 job doing strategy for a company.

He’s just a regular guy who couldn’t get the $200K+ a year job that Person A has.

So why is this an interesting comparison?

From the resume, it’s pretty clear that Person A should have a more successful career than Person B.  It actually shouldn’t even be close.

However, my fiancee and I 100% believe that Person B will end up living a better life.

The biggest reason why is awareness.

Person B does not understand all the nuances of real estate investing and other passive income strategies. If he invested in real estate now, he would end up losing money as part of the process.

However, Person B is aware that there are other ways to approach life than a 9-5 job. He understands that what matters is adding value, and that you can add value to someone other than your corporate boss.

So, he’s looking into a specific type of tutoring he is qualified to do. He’s looking into investing in real estate. He’s looking into other side hustle type businesses.

He will probably fail, a lot, because he isn’t the hardest worker. But, he is young and at least trying.

Person A might make $200K a year in corporate, working 80 hours a week.

Person B might make $100K, but will work 20 hours a week.

My fiancee and I both think Person B will end up having a better life.

Which person are you?

What I did yesterday 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 woke up at 7:12 am after going to bed at 10:59, for a total amount of sleep of 7 hours and 4- minutes.

Recovery was at 70%, which is one of the highest scores I’ve had in a while. I think it’s because I ended up taking the day relatively slowly.

It’s time to ramp back up and have a more difficult and busy day now.

Exercise

I did about 30 minutes of weights and abs in my apartment.

Stress levels

I was at a 4/5, with 1 being the highest. It was Memoria day.

Diet

Diet was coffee and eggs for breakfast, some noodles and vegetables for lunch, and dinner was pork chops and rice.

Fairly normal day, but I’d much prefer a lot more vegetables in there.

3/5 with 1 being the best.

My Day Job

Nothing, it was Monday of Memorial  Day Weekend.

Investment real estate

Nothing here today.

My Actual Business

I have my business plan written. I’m going to begin executing on it in August.

Side Consulting

I’m getting busier and busier and busier. I  need to slow down and get some time back before my head explodes. There’s just a bit too much going on right now,

Business plan

I followed up with this client but still haven’t heard back from him. I’m hoping he doesn’t have COVID!

Private Equity

Final payment just came through. I’m excited about that being done

Financial modeling

I have an hour or two of tweaks to do tomorrow, which should be a lot of fun. I’m looking forward to finishing up.

Financial modeling #2

The client above asked me to do some more modeling for them. I said yes, which was stupid. I’m hopeful this doesn’t get too crazy and this is kept to just a week.

Frameworking

A  couple of meetings tomorrow.

Summary presentations

I have a bunch to do here tomorrow. This is a pain because it’s more time that I  want. They also asked me for more time but I said no. I’m  slammed

Market Sizing

I have someone reach out directly from Australia to ask for help in sizing a market. It’s a quick project and right up my alley.

Market Research & Customer  Interviews

I have a company reach out to request market research and customer interviews work to make sure that they are targetting the right customer with their offering and that the market isn’t too crowded. This should be a $10K  project and take about a month to complete, so I’m pretty excited about this one.

Sourcing new work

I’m also negotiating with a Fortune 500 right now to work with them in a strategic capacity. If this one sells, I will have 9 projects going on at once. I need to throttle that back down.

$10K/day website

Daily case study post

Family

My fiancee and I took a couple walks together

Miscellaneous

Nothing misc today

Rescue Time Daily Screenshot

My Memorial Day Weekend

What I made today

Current Income  Streams

  • Job:  $170
  • Rental Income: $33
  • Upwork: $540
  • Consulting: $394

Total:  $1,137

Planned income streams

  • My Actual Busines
  • Local Serviced Based Business
  • Affiliate
  • WordPress Maintenance Site
  • Dividend Income
  • Micro-SAAS’s
  • Hotels

Today’s pro-rated amount of monthly & yearly expenses

 

Life Expenses: $204.73

  • Rent, utilities, Internet: $63.33
  • Phone Bill: $1.57
  • Heath Insurance: $8.90
  • Ladder Life Insurance: $0.83
  • TrueBill for Budget tracking: $0.10
  • Car: $15
  • Groceries: $115

Health Expenses: $12.00

  • Peloton: $3.20
  • Gainful Protein Powder: $1.80
  • Care/of Vitamin pack: $3.00
  • Whoop fitness tracker: $1.00

Productivity Expenses: $2.05

  • SuperHuman to save time on email: $1.00
  • Rescue Time to keep me honest on my productivity: $0.20
  • Fantastical as my main calendar: $0.20
  • Evernote to track everything: $0.27
  • Grammarly to keep my emails looking okay: $0.38

Consulting Business Expenses: $2.30

  • Gusto to pay myself: $1.50
  • Quickbooks to track expenses: $0.40
  • Google Business Email Account: $0.40
  • Fiverr for virtual support: $0

$10K a day: $12.42

  • Kinsta for hosting: $1.00
  • Bluehost for domain names: $0.03
  • WP Rocket for speed: $0.14
  • Link Whisper for SEO: $0.14
  • Elementor for site design: $0.14
  • Astra for theme: $0.14
  • Rhino Rank for SEO: $10.83

Real Estate Investing: $0.52

  • Legal Zoom Registered Agent (all LLC’s): $0.52

Today’s Income (pre-tax)

Topline of $1,137, spent $234, which means….

Made $963

My plan for tomorrow

Tomorrow I need to:

  • Do all 9 of my damn consulting projects
  • Talk to a lawyer about my business
  • Do my day job

I’m tired

1,616 days until I turn $30. I’m making $10K a day passively by then

Dean Woods

Dean Woods

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. The hope is that $10K a day swill inspire someone else out there to make their entrepreneurship dreams happen. Dean Woods is side hustling and working a full time job to kickstart his entrepreneurial path. Prior to this life, Dean was a management consultant. Dean graduated with honors from The Wharton School.

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