The 1 Year to $1 Million Project – Foreword
- Published 10th Jun 2017
Last edited 8th Sep 2017
Quick background of me – I’ve been a Web Developer for as long as I can remember. I’ve mostly been an employee or a full-time contractor throughout my career (I’m 33 years old turning 34 this year in 2017) until at the end of last year (2016), I decided to say goodbye to the 9 to 5.
So here I am, running my own business as a freelancer. I actually like to call my business a Micro-Digital Agency, which is basically a freelancer with a team of contractors. I build online stores, web / desktop / mobile apps etc. – anything that a Software Engineer can build pretty much. I have an 18 month old son and a loving wife from Korea. I’m Korean too but I’ve been living in Melbourne, Australia for the past 20 years, so I’m like this weird Asian guy with an Aussie accent.
I want to try an experiment / project / mission – to see if I can make $1,000,000 revenue in the next 12 months. There will be many late nights I’m sure, and sleep deprivation – maybe, but more importantly, I’m known to make a lot of pacts with myself and I break most, if not all of them.
This is why I’ve decided to document it in a series of public blog posts, 1 each month to let the world know how and what I’m doing. I’ll publish various interesting stats like exact revenue numbers for the month, number of cold showers taken, and also about how I’m scaling my business so that readers that are freelancers, running startups and small businesses etc. can pick up a growth hacking tip or two. Motivation is another theme I’ll be exploring. I hope to make this series of blog posts as industry agnostic as possible, but we’ll see how it pans out.
Skeletons in My Closet
- Make a million bucks in revenue in the next 12 months (by the end of May 2018).
- Make a million bucks net income in the next 12 months.
- Make a million bucks net income by the end of 2018.
- Make a million dollars net profit after tax in the next 12 months.
- Make a million dollars net profit after tax by the end of 2018.
- $250,000 revenue within 12 months.
- $500,000 revenue within 12 months.
- $750,000 revenue within 12 months.
$50,000+ revenue in a calendar month.
- $100,000+ revenue in a calendar month.
- 50 cold showers within 12 months.
- 100 cold showers within 12 months.
- 200 cold showers within 12 months.
- 365 cold showers within 12 months.
- $500,000 revenue by the end of 2018.
- $1,000,000 revenue by the end of 2018.
To make a half million in a year I need to make:
- $41,667 per month
- $9,615 per week
- $1,370 per day
- I should give up
To make a million in a year I need to make:
- $83,333 per month
- $19,231 per week
- $2,740 per day
- I give up
- Currency is AUD – bit cheaper than USD.
- Since starting out in January 2017, my revenue’s been averaging $21,320.66 per month.
- If I were to continue at the same rate, I’d at least make $250,000 in the next year.
- This means I need to make 4 times that, starting right now.
- Or it looks like I need to grow at 25% month-on-month.
- 25% month on month growth for a whole year = difficulty level 99
- I’ve got a bunch of SaaS ideas I want to build – maybe I could launch some?
- If I did create some digital products that had explosive user growth but no revenue, how would that count towards this project? Does valuation count?
- What if I receive investments? Some things to think about there.
- The 1 Year to $1 Million Project - Foreword
- Month 1 - June 2017
- Month 2 - July 2017
- Month 3 - August 2017
- Month 4 - September 2017
- Month 5 - October 2017
- Month 6 - November 2017
- Month 7 - December 2017
- Month 8 - January 2018
- Month 9 - February 2018
- Month 10 - March 2018
- Month 11 - April 2018
- Month 12 - May 2018