The $0-$10K/Day Case Study: Day 145

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Day 145

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Is it officially the end of my consulting career?

If it is, then it’s been a good run. It was about a year-long, led to $200K in income, and taught me a shit ton about how to bootstrap and build a business. I got to learn and meet some awesome people and companies. I have my big client providing a lot of positive feedback and compliments on my work.

All in all, it’s been a blast and a half.

Now, it’s time to advance to a new world full of other income strategies.

I’m so excited about my business. I can’t stop thinking about it. I haven’t felt this excited for a business before.

I’ve successfully scraped 5,000 email profiles from Linkedin. I ran them through Neverbounce and got  3,500 returned as legit emails. I’m in the process of warming up my email inbox right now. In a month when family obligations are done, I’ll hook up that email inbox with Woodpecker and start soliciting expert interviews.

That’s the business. I’m planning on bootstrapping that to success. But, we’ll see what happens and where we need to go. I’m optimistic, and excited, that we could do something really awesome there. Stay tuned!

But, with consulting being done, I can also think about other revenue streams.

For me, I need revenue streams to require consistent work. The problem with consulting is that I’m not doing the same thing every day. I need other revenue streams to be the exact same every day. That way, I don’t have one thing go long and then screw up my entire day.

So, here’s my idea. I’m going to launch 15 websites.

A website can make $10 in advertising per 1,000 visitors when using something like Ezoic. A website can then make $1,000 a month, relatively passively once set up with 100,000 visitors a month.

Now, it’s hard to get a site to 100,000 visitors. It will take 18 months at least of consistent publishing. But, if I can do that, I could have 15 diversified streams of income that make money from display ads. It’s just straight-up passive income at that point!

I think it would be a lot of fun. Since these sites that 18 months, I think it’s time for me to start working on them.

Yesterday there were 1,603 days until I turn 30 and need to make $10K a day passively. Here’s how I spent it in pursuit of that goal

The current phase of the plan

I’m in Phase #3:  The Business Phase.  You can read more about the phases and my plan to get to $10K/a day at 30 here.

I still consult, and  I still have a job. I’m looking forward to removing both of those ASAP.

Wake up & sleep:

I woke up at 8:22 am after going to bed at 10:56, for a total amount of sleep of 8 hours and 22 minutes. Recovery was 71%

I felt more energy through the day, which helped me run through a lot of work

Exercise

I did a 20 minute strength workout. That didn’t really change things for me though as strain was still relatively low at 5.3

Stress levels

I was at a 3/5, with 1 being the highest. I felt in control during the day and excited.

The excited piece was important. I haven’t felt this excited in a long, long time.

Diet

Diet was coffee, chickpea salad for lunch, and then a protein shake for dinner.

2/5 with 1 being the best. Played a non-small role in why I felt good and had energy.

My Day Job

Blah. Meeting or two.

Investment real estate

Heard from our property manager. Our 6 unit is renting at $385 a month. However, the building isn’t wired for gas and there isn’t any stove/ovens in the units. We got a quote to run the gas line to the building for $3,000, and we can add in 6 ovens for $2,500.

All in, it will cost $5,500. However, we will be able to rent for $585 a month then. That’s $200 more per unit per month, which would be $1,200 a month across all units or $14,400 more per year. That’s close to 300% ROI on our $5,500 investment.

That also doesn’t factor in that occupancy will be substantially higher with the ovens than it would be without.

It’s a hit right now, but it’s a no-brainer.

Passive Websites

I talked with my WordPress guy. He can build 15 websites for $750 ($50 per). I don’t think I want to pay that much, so I might just have him build me one and then I’ll duplicate and clone that site, just changing  the domain name.

I also gave my writer the heads up to expect more work coming! He’s good, and reasonably priced at $150 for 10,000 words. If he can pump out 1,000,000 words per year (4,000 words a day, if he works 250 days a year), I’d be extremely tempted to hire him full time to do that for me. That would be $15,000 on the year for 1,000,000 words.

My Actual Business

I found a Facebook group of people who are all in the industry I want my business to be in. I joined the group  and got accepted yesterday.

As part of that process, I learned:

  • The biggest problems people  face in this industry (which will go directly into my marketing)
  • The software and tools people use to solve the problem (my competition, or software I can use)
  • The workload one person can reasonably handle (how many people I will need to hire)
  • What competitors are pricing at (I was pricing at $300 a month, but I now realize that’s low. Adjusting up to $500 now; which is a 66% increase in revenue right there)

There is one huge takeaway here for people: the information you need to start a million-dollar business already exists and is out there. You just need to do the work to find it

I checked industry Forums, Reddit, Quora, and all types of sites looking for information. Turns out the Facebook group is where I needed to be

Side Consulting

Business is slowing down, and I’m pumped about it.

Business plan

This is now done!

Financial modeling

I sent a bunch of documents and guides over to my model guy to take it and run with it.

Frameworking

Nothing right now

Summary presentation

Nothing

Market Research & Customer  Interviews

A couple more interviews  and some more research.

Sourcing new work

Nothing. I  don’t know if I want to be growing things here!

$10K/day website

Daily post

Family

Time with my fiancee

Miscellaneous

Nothing

Rescue Time Daily Screenshot

Surprised that was a 10 hour day yesterday. Will take it though.

What I made today

Current Income  Streams

  • Job:  $170
  • Rental Income (13 rental units): $43
  • Framework: $250
  • Customer Interviews: $430

Total:  $893

Planned income streams

  • 15 websites
  • My Startup
  • Local Serviced Based Business  (cleaning business)
  • Affiliate
  • WordPress Maintenance Site
  • Content sites
  • Franchises
  • Dividend Income (municipal bonds)
  • Micro-SAAS’s
  • Hotels

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

 

Life Expenses: $89.73

  • 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

My Startup’s Expenses: $0.16

  • Bluehost Domain name: $0.16

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: $2.25

  • 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
  • BackBlaze to keep my files backed up: $0.20

Consulting Business Expenses: $2

  • 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 $893, spent $119, which means….

Made $774 (pre-tax)

My plan for tomorrow

Tomorrow is Wednesday, and should be better

  • Couple updates to my property manager
  • Couple updates to Stessa to make sure it’s tracking things correctly
  • Do 3 interviews with people for my market scan project
  • Schedule more  interviews for market scan

 

1,602 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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