As regular readers know, I’m beyond excited by the idea of starting up another business shortly. My regular consulting business has been a fantastic source of revenue: I grew it to $100K+ in less than 10 months after quitting my job. It’s now made considerably more than that.
Said differently, I’m not a first-time founder. Some really interesting work by HBR and referenced by Inc shows that the odds of success nearly double if you are a second-time founder who succeeded in their first business.
It would, therefore, be perfectly reasonable for me to sit back and relax and assume I’m going to succeed.
That is, to be blunt, fucking stupid.
I am grinding, all day every day, to get smart and understand my new business.
Here are just a few activities that I’ve done to get smart about my new business in the past ~24 hours:
- Joined and read every post in Facebook groups about my new business
- Watched a ton of Youtube videos from people who are in that industry, or talking about that industry
- Scraped thousands of target customer emails so I can reach out to them for an interview on what they think about the project
- Invested significant time with a designer to build out the appropriate branding
- Spent an hour on the phone with a sales expert I met to discuss how to sell this thing
Always be learning. Itt doesn’t matter if you were successful in your first business if you don’t double down on what worked for your second business.
Yesterday there were 1,592 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 6:36 after going to bed at 11:42, for total sleep of 6 hours 23 minuts and aa total recovery of 45%
My fiancee and I walked together for a few miles. Whoop had strain data high at 8.3
I was at a 4/5, with 1 being the highest. Things are relatively well right now. Not a lot of stress.
Relatively healthy. Breakfast was coffee, dinner with a salad with tofu. Call it 2/5
My Day Job
Friday. I did pretty much nothing.
Investment real estate
My Actual Business
Slow but almost done here.
I finished up the last bit here. This project is now done.
Market Research & Customer Interviews
A lot of calls here
Sourcing new work
Nothing really here
Long walks with my fiancee
Rescue Time Daily Screenshot
What I made today
Current Income Streams
- Job: $170
- Rental Income (13 rental units): $43
- Framework: $250
- Customer Interviews: $430
Planned income streams
- 15 websites
- My Startup
- Local Serviced Based Business (cleaning business)
- WordPress Maintenance Site
- Content sites
- Dividend Income (municipal bonds)
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: $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 $119, which means….
Made $774 (pre-tax).
My plan for tomorrow
Tomorrow is Saturday, and I need to do:
- Some touch up work here and there
- More research on my business
1,591 days until I turn $30. I’m making $10K a day passively by then