As we approach day 100 of this case study, it’s worth it to stop and look back/take inventory of everything going on.
Income streams in flight:
- Day Job: ~$80K/year, but not the goal
- Consulting: ~$250K/year (when not in COVID!), but highly manual, not passive income
- Investment real estate: ~$12K/year (is passive)
- Affiliate websites: currently aggressively investing here to grow a more passive income
- eBooks: currently aggressively investing here to grow a more passive income
The past 100 days or so have really been great in terms of growing an income. I’m happy with that progress, but obviously not close to being where I want to be yet.
The other thing that has been on my mind a lot is that there isn’t really great business.
Yes, real estate is how I’ll make the bulk of the passive income necessary to get to $10K/day.
The downside though is that requires a ton of capital necessary to buy that real estate! The consulting is going to be a big part of building up that capital.
BUT, here’s the secret: real estate alone won’t get me there. Affiliate websites + real estate might, but I also don’t have control over the affiliate sites. Amazon could shut me down at any point, and then I’m screwed.
I need to launch a business, preferrable a SAAS business, to get to where I need to be.
And I think I came up with it.
What I did today to make $10K a day at 30
Wake up & sleep:
I was washing my Whoop strap so I don’t have it on me. Sorry about that!
Barely any movement today. Absolute crap.
Even worse today when combined with a really horrible exercise day. I had bread, pasta, and pizza for dinner. Tomorrow needs to be damn good.
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
Still waiting on being able to purchase that 24 unit.
I emailed the property manager today of the 7 unit. I’ve been super disappointed with how that one is being run, so I’d love to see some more success there.
Nothing done here.
Amazon Affiliate Websites
I literally didn’t publish a thing today.
But, I made money from sales.
So, I’m pumped and I’ll take it!
Up and down kind of day.
I think I’m going to sell at $5,000 project, and all of my pitching on UpWork is actually what gave me the business idea.
I’m really excited right now about that idea.
Here’s the other nifty thing going on right now: I actually realized that I might qualify for PPP. I do my consulting through an LLC and my income for it went from a lot to essentially nothing because of this virus.
I spent a fair amount of time doing research on that as a result.
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
Rental Income: $33
Amazon Affiliate sites (2 sites): $0
Today’s pro-rated amount of monthly expenses
Once I pay off my debt, I’ll break out expenses into a line by line as well.
My plan for tomorrow
- A post for a client
- an ebook publish
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.