The $0-$10K/Day Case Study: Day 147

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Day 147

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Today is a 100 day. There are 1,600 days left until I turn 30. That’s 1,600 days to build up my income to $10,000 a day (passively).

I feel like I’m on track to get there. I’m making ~$700 per day right now, although most of that is not passive.

The reason why I feel like I’m on track though is because I understand how to start a business (I bootstrapped my consulting firm to $200K+ in income). I feel a lot of confidence in bootstrapping a business because I’ve now done it before.

Do you  know where the majority of the confidence comes from?

The internet.

The internet is the greatest learning  source of all time

If you have access to the internet, then you have all the information you need on how to start a business.

Here’s a bold claim: if you don’t feel ready to start a business, then you haven’t done your homework. All the information you need is online. Go find it.

I feel ready, because I’ve spent years finding it.

Yesterday there were 1,601 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 8:42 am after going to bed at 11:58, for a total amount of sleep of 8 hours and 8 minutes. Recovery was 56%

I’m not sure why my recovery was only 58% despite a ton of sleep. I think there’s some components here of needing to eat better and stretch more, but I’m not sure.

Need to keep the energy levels up.

Exercise

I took an hour walk outside with my fiancee to stretch the legs, and I did a couple of pushup breaks throughout the day. It kept things energized.

Stress levels

I was at a 4/5, with 1 being the highest. Consulting work slowing down is a big value-add.

Diet

Diet was coffee, and then chicken kabob  for dinner. 3/5 with 1 being the best.

My Day Job

Nothing

Investment real estate

Confirmation from our property manager that the gas guy is getting started on Monday for us, but that was it.

Passive Websites

Nothing here

My Actual Business

I did a couple of things here.

First, I put a post on UpWork to see how much it would cost for someone to build the software I need. My guess is $20K, but I wanted to know for sure to help my planning a bit better. I ended up speaking with a great firm based in Texas and they are getting me a quote today.

Similarly, I talked with a design firm that specializes in UX to understand how much it would cost to do branding and design a website. The price I got from them was $40K to do so. I’d love to hire them, but probably will need to wait a year or two before investing there. For now, I’ll probably use 99 Designs or something similar to get the web design and branding done.

Finally, I figured outmy sales automation Stack:

  • Leads from LeadFuze will automatically be sourced for me. That’s 500 leads for ~$150
  • Those leads will get automatically sent to Woodpecker who auto emails them for $50 a month.
  • I’d expect ~3% conversion from Woodpecker to booking a meeting. They’ll book a meeting with Plann3r.
  • Booked  prospects show up in my Pipedrive CRM for $50 a month

All in, at a 3% conversion rate, I’ll have 15 pitch meetings a month. Cost to schedule those meetings will be $250 or $16.66 per. If I sell at a 30% rate, I’ll sell 5 prospects a month, which would be a CAC of $50.

Not too bad

I’m also rewatching the YC class on “how to start a startup.”

Side Consulting

Business is still slowing down a bit here.

Business plan

Done-waiting on final payment.

Financial modeling

My guy is running with the modeling

Frameworking

Couple meetings yesterday on this

Summary presentation

Nothing, I’ll need to do this tomorrow.

Market Research & Customer  Interviews

A couple of interviews.

Sourcing new work

Heard from someone who sends work my way. She might have a $1,200 project for me that I can get done  for $50 and a few hours of work. Hopefully this comes through because that would be fantastic!

$10K/day website

Daily post

Family

Walk and dinner with my fiancee.

Miscellaneous

Nothing

Rescue Time Daily Screenshot

Less than  my standard 10 hour  day

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 Friday, and I need to do:

  • A couple more interviews for the market research project
  • Summary project
  • Modeling project

 

1,600 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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