The $0-$10K/Day Case Study: Day 150

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It’s going to be a no for me.

In yesterday’s post, I talked about how my goal has now shifted. I need to continue to consult, for as long as possible, to help increase and drive revenue as high as possible to be able to afford both investment real estate and real estate for us.

With that in mind, it almost makes sense for me to sign up for whatever projects I possibly can to help increase that topline revenue number. And as luck would have it, someone reached out directly to me about a project.

It was a $1,000 project for a business plan. That’s low for a business plan, but it should take me just a few hours so the income per hour would be great.

After 30 seconds on the phone though, it was clear that the best decision would be to walk away from this gig.

When consulting, it’s important to look for someone who is going to be a true partner. Yes, there is always some component of a work relationship in that you are a vendor who provides services to the client. However, a good consultant should choose to work with people where there will be a strong working relationship, rather than a demanding boss who treats you like shit.

Think of it this way: you don’t want to work for a dick boss as a full-time employee. That dick boss is 10 times worse to a consultant because they believe they can get away with it. No consultant is writing upward feedback or going to report you to HR. A consultant is in line to get shit on.

This guy just seemed like a dick boss. It was a 10-minute conversation where he used the phrase 10+ times “Send me a work sample so I can make sure it’s good enough.”

That is a tell-tale sign the guy is going to be a dick to work for. If you’re a consultant, run away. Here’s why:

  • Asking for a work sample once or twice on a call is completely fair. Asking 10+ times on a 10-minute phone call shows he can fixate on something and be difficult
  • Repeated use of the phase “I can make sure it’s good enough” is purposefully putting you in a subservient role to him. If a client’s ego is that  fragile they need an  ego booster literally once a minute in the first  call, then that client will be a problem
  • Finally, this client reached out to me because I went to Wharton and worked at MBB. Since he is familiar with those names (I  know this because he reached out to me due to those), he should know that I am going to be far from the cheapest consultant. He seemed shocked that I wouldn’t work at $20 an hour. That means he believes he’s special enough that I would cut my rate by more than 10X for the privilege of working for him

These signs are not easy to pick up on when you start consulting. I made plenty of mistakes when I first started where I  took on projects for the wrong people.

The trick is this: a pitch call with a client is also an opportunity for you to interview them. Really listen to what they say and how they say it. If your instincts tell you that this could be a bad deal, then it’s worth passing on it.

I’d rather you not take a project with a shit client and miss out on that income than take a shit project with a shit client and stop doing consulting part-time.

 

Yesterday there were 1,597 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 7:19 am after going to bed at 11:13, for a total amount of sleep of 7 hours and 29 minutes. Recovery was 94%.

I was feeling good and definitely ready to attack the day.

Exercise

My fiancee and I walked together and I did some weights. Day strain of 7.6

Stress levels

I was at a 4/5, with 1 being the highest. I feel like I’m in control of all of the work I’m doing right now.

Diet

Diet was coffee, eggs, some noodles for lunch, and a light dinner of fried rice. 3/5 with 1 being the best.

My Day Job

Monday. I attended a few calls.

Investment real estate

Work should be going on at our six-unit now. I’m also figuring out when to buy that 24 unit we’ve been eyeing for forever.

Once that 6 unit is 100% occupied and cash flowing, I think it’s totally fair to ask for

Passive Websites

Nothing

My Actual Business

Still monitoring 99 Designs right now.

Side Consulting

Slow but almost done here.

Business plan

Done!

Financial modeling

I had a call with the client. This one is almost done now too

Frameworking

Quick call, but nothing crazy

Market Research & Customer  Interviews

I had 7 calls here today. It was an extremely long day here on the phone.

Sourcing new work

Two calls, one was for a deck that I sold and one was the one I talked about above.

$10K/day website

Daily post

Family

Long walks with  my fiancee

Miscellaneous

Nothing

Rescue Time Daily Screenshot

Weekend 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: $139.73

  • 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: $50

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: $302

  • 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 $169, which means….

Made $724 (pre-tax).

My plan for tomorrow

Tomorrow is Tuesday, and I need to do:

  • A couple calls for the project
  • A call for my framework project
  • Type up some notes from calls
  • Real Estate market research

 

1,596 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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