The $0-$10K/Day Case Study: Day 154

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Day 154

DISCLOSURE: THIS POST MAY CONTAIN AFFILIATE LINKS, MEANING I GET A COMMISSION IF YOU DECIDE TO MAKE A PURCHASE THROUGH MY LINKS, AT NO COST TO YOU. PLEASE READ MY DISCLOSURE FOR MORE INFO

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%

Exercise

My fiancee and I walked together for a few miles. Whoop had strain data high at 8.3

Stress levels

I was at a 4/5, with 1 being the highest. Things are relatively well right now. Not a lot of stress.

Diet

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

Nothing

Passive Websites

Nothing

My Actual Business

I did all the stuff I talked about above!

Side Consulting

Slow but almost done here.

Business plan

I finished up the last bit here. This project is now done.

Financial modeling

Nothing

Frameworking

Nothing

Market Research & Customer  Interviews

A lot of calls here

Sourcing new work

Nothing really here

$10K/day website

Daily post

Family

Long walks with  my fiancee

Miscellaneous

Nothing

Rescue Time Daily Screenshot

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: $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

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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