August 8, 2023

MDC Update #2: Growth & Steps

Seven days. As in exactly seven days later I went from zero to something.

Whilst I wrote plenty already about the Million Dollar Challenge in my intro post and a first progress update, it’s going much faster than expected.

Current total: $2585 out of a million

This is actually insane when one goes from zero to something in seven days where restrictions were placed.

How?

Well, after kicking off last week, there was a growth spur on my X account and people started to join the Discord channel to track the challenge closer.

I primarily opened up a channel for two main reasons:

  • Connect with some true supporters on a closer level, rather than just X.
  • Post updates, progress and actual results that can be verified/confirmed by either them as a third party.

I think it’s important to showcase every dollar made, or lost in a public space which can easily be verified.

But that’s not the primary reason how I added $1080 on top of the earnings.

It came through organic growth, and people DM-ing me on Discord from other channels I am a member of.

Because I shared what my plans are and the current challenge.

They didn’t just DM me out of goodwill. It’s because I am sharing experience in different fields without thinking about sales or leads.

By organically showcasing what you’re capable of, I let them come to me. (without intention to actually sell products or services)

Fast forward, I racked up two people that are looking for advice/consulting in different fields totalling $1080.

Build & Plans

In a span of the last 48 hours I went from zero to show to something to work on.

And here is what happened:

Land Of Oos

Yup, it’s a real domain. Land Of Oos

And here is the reasoning:

When you don’t have a lot of resources available, you gotta hustle more than going straight into business.

A few days back, it hit me. My primary channels of communication are Discord and Twitter.

Often more than not, I see valid and interesting questions popping up in either communities on Discord or X/Tweets.

That led me to believe I could capitalize on it long term and short term in various ways.

The goal of Land Of Oos is simple: 

Write short blog posts based on questions asked in public which I would write up based on my own experience and insights.

How will that help you reach a million?

Because I am banking on the fact that one would show gratitude buying a coffee, join the public Discord or goes straight up for the consulting.

Chances of conversion or $ value: almost none.

But I can organically grow my Twitter account, share the content to an individual I gave my insights to and will most likely share it with their own circles.

My primary goals are expanding network I can leverage into the challenge to obtain growth and personal branding.

And branding, is where the money is (at the moment)

I think most solopreneurs and Indies are not banking enough on personal branding and are now aware how brand equity can reach their goals. So here is what I did to strengthen it:

Personal Brand Equity

Last few days, I was hard pressed on finding a name to start a consulting firm (for the challenge). Main reasons are:

  • Need cash and aggressive short term growth
  • Can beat variance when taking hits in more experimental ideas I lined up
  • Serves as a hedge against upcoming day trading activities (once I start)
  • Has currently only upsides once I am able to increase the hourly rates

After 4 days of going back and forth, I finally pulled the trigger on the brand name:

Ok, both websites are still a WIP as in modifications, logos and what not but I still managed to launch them in less than 48 hours.

Going back to personal brand equity and my reasoning.

  • Twitter: Outofsigma / Oos
  • Main Website: Out Of Sigma (this one)
  • Website A: Land Of Oos – X insights and opinions
  • Consulting Brand: Insight Sigma: Combo of both, with resonance to Land Of Oos and my overall personal brand.
  • Discord Channel: Land Of Oos

By consistency in naming and connect either one of them with another, I felt that is the best way to go to increase personal brand equity.

And capitalizing on it is right now the best choice going from zero to something.

I felt, Insight Sigma was the best fit as a consulting brand. With an immediate definition of audience and target.

ICPs & Reach

Look around you. Any consultant or startup consulting firm has troubles finding clients.

They often defined their target audience by vertical or type (SMEs, startups etc)

But I felt that is NOT going to work currently. I don’t see myself running around pitch the same boring things to the same audience.

And I would often end up in the same boat like the rest of the individual consultants.

So I decided to go for a clearer path (for myself at least):

Consult for people on Twitter and Disord.

What am I supposed to say as a headline on a consulting website?

The same like anyone else?

Problem is, that I am active in a LOT of fields and just like some mentioned to me before: it’s hard to define your actual skill or field.

So I swept that problem immediately under the rug by using a headline that is clear for an audience/circles I am active in and have the biggest reach for the challenge. 

It serves a lot of purpose for me, but the primary reasons are:

  • I am restraining myself to go traditional like most firms or consultants
  • It helps me to focus on growing Discord and Twitter only and takes away all the noise around me
  • It’s part of the MDC and I want make sure that earnings can be verified in public or obtain public testimonials which would be part of the ‘consulting in public’
  • It connects the dots with Land Of Oos, Twitter account and so on

Once I realized that I picked my channels of distribution and growth over a specific audience it makes the job easier.

You can see it for yourself, but at this very moment, the website is NOT finished yet as in content, copy etc. (Stripe links work tho 😀 )

Looking back and compiled at stuff in 48 hours was already a huge milestone where I can finally see a clearer path with lesser resistance than before.

But it’s not stopping me on mapping out/puzzling my next bet.

Plans

I share the ideas, and upcoming creations in the channel. And currently I am working on:

  • Faceless YT channel – niche is decided
  • Niche blog – niche is still going back and forth, but will decide today
  • Merch -WIP
  • E-commerce store – WIP as in drafting ideas and probabilities of success
  • Preparing day trading account – with is a deciding factor for liquidity

Nothing has been left out, and I am going full transparent on builds, niches and process. 

So feel free to join Discord and subscribe to the newsletter (which needs work)

Close

That is the MDC update #2.

Next one, I have to adjust the amount spent, since I am adding a few tools to the stack and will explain my reasoning of the spent.

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