The $0-$10K/Day Case Study: Day 95

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Day 95 of the $0-$10K/day case study

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When I first got started on the side, I went straight to UpWork.

It’s an online platform where you can find freelance work. The platform gets a bad rap, and perhaps deservedly so, for being demanding clients and low paying jobs. It’s international, so American-based freelancers are often competing against individuals in low-cost countries.

For example, my go-to virtual assistant is amazing. He’s located in Bangladesh, where a dollar in American has the purchasing power of roughly $30/there. Note, that’s not the currency exchange rate but purchasing power parity.

I pay him $5/hour because he’s great, even though his “rate” is $4/hour.

That’s a great deal for me because it’s only $5. It’s a great deal for him because, based on the purchasing parity, he makes the equivalent of $150/hour working for me.

But, for that reason, Americans often don’t like working on UpWork. Many ask: how can you compete when you bid ~$50/hour and someone offshore bids $5/hour?

Let me be very clear: that is bullshit and not only the wrong mentality, but it’s also just straight-up wrong.

In my first month on UpWork, I made $5K through the platform.

As you can see from my daily recaps, I no longer do a ton of work through UpWork. The reason why is projects are often lower dollar value (say $200), so I need to have a lot more clients. On my consulting clients, I made $5,000 per client, so it’s a lot easier to manage.

But, I’m finding that those $5,000/project clients are much less likely to hire during this recession.

Which is completely understandable.

But, it looks like UpWork clients aren’t going away as much as the bigger consulting clients.

So, even though I  hate the idea of it, I need to strap up and go pitch some UpWork clients

What I did today to make $10K  a day at 30

Wake up & sleep:

The numbers were objectively really good yesterday from a sleep perspective. I went to bed at 10:28  and woke up at 7:38 for a total of 8 hours and 40 minutes asleep. Even better, the Whoop says I am 98% recovered, which I’ll absolutely take.

Exercise

Limited. I walked back and forth across my apartment for an hour, which should be roughly 3 miles. Standard quarantine workout.

Diet

Coffee in the morning then munched on some random food throughout the day. That includes a few biscuits at night, which wasn’t that great of an idea.

My Day Job

Not a lot done here today. I, of course, had some work to do, but nothing crazy ended up happening

Investment real estate

I saw a fantastic 10 unit hit the market in North Dakota. It’s a new market for us, so I like the diversification. It’s across the street from a university, so there will be a tenant base. The price is great. And they’re putting it on the market now, which tells m they’re desperate to sell now.

This is why I need to do UpWork. I need to keep income coming in so I can afford to buy these deals when they hit the market.

Kindle

Nothing here. I have a freelancer formatting a book for me, but that’s it.

Amazon Affiliate Websites

5,000 words published or so!

I hired two people who are going to write for me.

I also sold something, but won’t get the commission until that product ships.

Consulting

Didn’t sell anything, which led to my growing realization that I needed to go on UpWork.

Family

Lots of time with my fiancee, the love of my life.

There is nothing more important than being with the right person.

What I made today

Job: $170

Rental Income: $33

UpWork: $0

KDP: $0

Consulting: $0

Medium: $

Amazon Affiliate sites (2 sites): $0

Youtube: $0

Total: $203.

Today’s pro-rated amount of monthly expenses

Expenses: $250

Once I pay off my debt, I’ll break out expenses into a line by line as well.

Today’s Income

Lost $47

My plan for tomorrow

Tomorrow is:

  • A post for a client
  • an ebook publish
  • Writing!

About the Author & The $0-$10K/Day Case Study

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

The hope is that this series of posts will inspire someone else out there to make their entrepreneurship dreams happen.

Dean Woods is currently an executive by day and a bootstrapped micro-startup CEO by night. Prior to working in startups, Dean was a management consultant. Dean graduated with honors from The Wharton School.

What I did yesterday to make $10K a day at 30

The current phase of the plan

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Wake up & sleep:

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Exercise

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Stress levels

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Diet

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My Day Job

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Investment real estate

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My Actual Business

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Side Consulting

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$10K/day website

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Miscellaneous

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Rescue Time Daily Screenshot

Today’s pro-rated amount of monthly & yearly expenses

Today’s Income (pre-tax)

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My plan for tomorrow

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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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