The $0-$10K/Day Case Study: Update 201

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Update 201

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

It’s a funny thing, this case study.

In a lot of ways, it’s exciting. After all, this site has now existed for more than a year. That’s slightly bonkers to think about. On the other hand, I’ve been a bit of a lazy shit (when it comes to this website) and haven’t posted.

I’ve said this before, but I’m going to make more of an effort to post here more frequently. I’ll also write about stuff that isn’t explicitly tied to this case study, but hopefully helpful in general for the entrepreneurial community as a whole.

The other thing worth emphasizing is that I’ve learned a lot over the past few months about what it means to be an entrepreneur. I’ll try to emphasize these messages more throughout the case study.

Yesterday there were 1,255 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 quick blurb about me and this case study (for new readers)

I go by Dean Woods in this case study, but that’s not my real name. This case study is a daily look at the real entrepreneur life. I don’t code and I’m not trying to build a unicorn and “change the world.” I’m trying to build a basic, boring business that makes significant money by going one step further than the competition. My wife and I use that money to buy multifamily real estate.

My goal is to show that entrepreneurship doesn’t mean coding, that wealth building means small business ownership, and that success is earned via a ton of work and not anything else.

The current phase of the plan

I need to re-write this article since my phases are different.

Wake up & sleep

On the Oura, I got a 74 sleep score with total sleep time of 6 hours and 23 minutes, resting heart rate of 58 BPM. Asleep 9:10-4:43am. Feeling OK. The baby has been waking us up super early.

Exercise

No exercise yesterday.

Stress levels

Stress was probably 4/5, with 1 being the highest. It was Sunday.

Diet

Fairly standard, nothing

Investment real estate

A couple updates here since last post.

First, my wife and I are selling one of our properties. That’s scheduled to close end of this week, so we might get a nice direct deposit from there.

Secondly, we ended up buying our own house for primary residence. It’s going to be great for renting afterwards though.

CCIO: My business

The business is off and running right now! MRR is OK and growing.

Sales

Nothing on the sales side, with it being a Sunday.

I am thinking about trialing Facebook ads. I might spend a few hundred here and do some research on how I’d want to run them

Fulfillment

A couple odds and ends tasks for customers. It probably took cumulatively 30min, but worth it so invest that time to differentiate ourselves as “we work on the weekends” when compared to our competitors.

Other

I really need some help. I’ve brought on Support Shepherd, a recruiter based in the Philippines for overseas talent. I’m excited to see the candidates they bring to me in a few weeks; I desperately need some help.

The biggest problem is I’m spending a fair amount of time on very low value-add tasks, like data entry. I need to make sure to not be doing that so I can instead focus on tasks like sales. My hope is that I can hire someone, make a ton of Loom videos on everything I’m doing, and then go from there.

The other update is that I’m interviewing a link building company tomorrow. The goal would be in hiring someone who can get a ton of links for my website very quickly, and hopefully have us rank for the key term. Even better, that key term is only a 7 difficulty on Ahrefs.

Side Consulting

I have three projects going on now. It’s too many; once I’m done with these in ~8 weeks, I’m going to focus 100% of my time on CCIO.

$10K/day website

Nothing

Family

Brunch with wife and friend, walks with the little baby.

Miscellaneous

Nothing

Rescue Time Daily Screenshot

Coming tomorrow

 

What I made yesterday

Current Income  Streams

  • Side consulting: $2,185.71
  • CCIO: $113.33 ($3,400 MRR divided by 30 days a month)
  • Rental cashflow income: $20 (~$100/unit/month)

Total:  $2,319.04

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

 

Life Expenses: $134.06

  • Mortgage, utilities, Internet: $116.66
  • Phone Bill (iPhone): $1.57
  • Ladder Life Insurance: $0.83
  • Car (2018 Audi Q5): $15

CCIO’s Expenses: $26.63

  • G Suite accounts (2x; one for cold outreach, one for everything else): $0.40
  • Lemlist for cold outreach: $1.97
  • Bluehost domain name: $0.16
  • Kinsta hosting: $0.82
  • Typeform: $1.66
  • Outreach.io: $4.10
  • Niche-specific software: $3.26
  • Recurly: $4.33
  • Hubspot: $1.66
  • Quickbooks: $0.33
  • Hiscox business insurance: $8.33

Health Expenses: $5.20

  • Peloton: $3.20
  • Tonal: $2.00

Productivity Expenses: $2.05

  • SuperHuman: $1.00
  • Rescue Time: $0.20
  • Evernote: $0.27
  • Grammarly: $0.38
  • BackBlaze: $0.20

Consulting Business Expenses: $6.10

  • Quickbooks (to track expenses): $0.40
  • G Suite email (for email): $0.20
  • Hiscox business insurance (for liability): $4
  • Gusto (to pay myself): $1.50

$10K a day: $1.59

  • 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

Real Estate Investing: $0.52

  • Legal Zoom Registered Agent (all LLC’s): $0.52

 

Today’s Income (pre-tax)

I made $2,319.04and spent $176.15 with a bottom line of:

$2,142.89 daily earnings (pre-tax)

My plan for tomorrow

Tomorrow is Monday. I have a fair amount of small fulfilment tasks for CCIO.

My big push will be around sales for CCIO. I’m going to scroll through Linkedin to find people hiring for this role, and then I’ll call/email them telling them about CCIO instead.

 

1,254 days until I turn $30. I’m making $10K a day by then

 

Dean Woods

Dean Woods

Dean has started multiple businesses, with two successes to date. Outside of starting businesses, Dean & his wife buy multifamily real estate and will soon start buying businesses. This case study is meant to cover the daily struggles it actually takes to be an entrepreneur & serve as a giant middle finger to the 'gurus' in rented Lamborghinis. Dean is an Alum of Boston Consulting Group and The Wharton School. He and his wife live in Chicago with their children

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