What I did today
Today was an extremely impactful day!
There were two big developments today, and some work. First, on the work front, I had ~2–3 hours of work at night doing Excel for my big client. That’s a fair amount of Excel work actually, but I don’t really mind it because of development #1.
My big client, the one who pays the $700/day, asked to extend the contract for another month. It’s not 100% finalized yet, but I think the odds are good that will extend. I LOVE it! It’s been a fair amount of work, but I really like working with this team and it’s been a great boost to the income (as you guys know if you’ve been following along).
The other big development here today is that I bought a website! I used some of my income from my work to buy a website. This will be an Amazon affiliate website and it will take up a fair amount of time over the next year as I grow it.
However, it should be generating >$1,000/month by next summer. When that ends up being the case, I could do a couple of things.
The first, and most obvious, is to just keep it and keep making income from it. The other, and probably more likely scenario, is that I’ll flip it. Standard multiple for a website like this is ~30X monthly revenue.
A great goal would be ~$2K/month by next summer. If I hit that, and then sell the site for $60K, that would be a great outcome. That $60K would then go into real estate and other types of investment.
It’s going to be a long time until this site makes literally anything at all, but I’m excited about getting started.
What I made today
Interview Coaching: $0
Today’s pro-rated amount of monthly expenses
My plan for tomorrow
Tomorrow is the final meeting for my current big client. Once I’m done with that meeting, I’ll be pretty much done with big clients for a bit. At that time, I’ll start focusing more on building out this affiliate website. I’ll need to get more than 150,000 words on it by next summer.
Man, I guess I better get writing!
About the Author & The $0-$10K/Day Case Study
Dean’s goal is to create $1,000/day in passive income through entrepreneurship. Too many people write “success porn” that skates over the struggles many face in entrepreneurship
The hope is that this series of posts will inspire someone else out there to make their entrepreneurship dreams happen.
Dean Woods is currently a VC-backed startup executive by day and a bootstrapped micro-startup CEO by night. Prior to working in startups, Dean was at Boston Consulting Group. Dean graduated with honors from The Wharton School.