Daniel Bourke shares his second week running an online business, breaking down his daily routine of client work, reading, and learning. He emphasizes Customer Lifetime Value through client feedback loops and highlights remote communication as an underestimated skill. He's reading Deep Medicine and The Personalized Diet, exploring nutrition as a potential future venture.
Chapters
Week 2, running a business. So we've got the whiteboard set up for today, the notes from Sunday, plan out the week on Sundays on the notepad. Boom. This is my personal assistant, Bordy. This is the other one, Patty. So today we're keeping it nice and simple, same as Mondays to Wednesdays, the same as last week. We're going to ride to the cafe, read, write, then come home, client work in the afternoon. Thursday, Friday, Saturday will be learning, creating/project work. Simple. Let's do it. It's cloudy. This microphone isn't suited for the wind. That's a good metaphor. Still beautiful. But even if you don't have the best equipment or it isn't the best day for it, you can still create. Let's come back when it's sunny. Yeah, home just in time. Starting to rain. Reading done, riding done. Time for some client work. Morning. It's nice and early this morning. I got a call with the US. Now, when you wake up early, or actually any time you wake up, it's important to replenish the water in your body. Why? Because if you've done well and you've got 8 hours of sleep, you've just been asleep for 8 hours and you haven't drunk a single gram of water. This is to start your morning off. 500ml to a liter of water and take it in a bath. Alright, I got a call with the US. These time zones, man. Bang! Test. Yo, yo, yo. All right, out of office notification. I must have messed up with the calendar. These things happen. That's life. It goes on. We're going to do today as normal. So you know what that means? Whiteboard, ride to the cafe, read, write, client work. I hit a little roadblock yesterday, but we'll try and fix that today. Well, we will fix that. Keep your eyes on the road, Daniel. It was rainy the other day, not today. The 4017 is putting on a show. Check that out, just check that out. That's what it's about, nature, baby. Morning! I've decided every morning I'm going to do about 10 minutes of physical activity slash a little bit of dancing. Why? Because you feel good after dancing. Put your favorite tune on, get a little bit of grooving, get moving. It won't wake up. Very big day on Tuesday. As usual though, we got reading, writing, and then tonight I'm actually really excited for is we're doing an Ironman roll at jiu-jitsu, which means an hour long, half an hour with the gi, half an hour without the gi. But actually today's Thursday, I'm supposed to be getting into fast AI and a bit of Swift, but I got some client work I need to tidy up, right? Because deadlines are real. What is good? Woo! Little bit puffed from that ride up the hill. Alright, we've got to change the plan for today. Oh, P.S. I finished— where is it? I finished Deep Medicine. Can you see that? There we go. Deep Medicine, amazing book. How artificial intelligence can help make healthcare human again. If you want to check it out, there'll be a link in the description. My favorite chapter was Deep Diet and Deep Empathy. And as a follow-on to the Deep Diet, we have another book, The Personalized Diet. In a sense, I'm reading that because I want to work out how technology can help me figure out what I should eat. Because I did a nutrition degree in 2015 and I don't know what to eat. So yeah, maybe I'll just build a company to figure it out. More on that later. But change of plan today, um, I was planning today to go through the Fast.ai course, homework, etc., etc. However, I did touch base with some of the clients that I'm doing some of the work, got some feedback. My, my stuff is good, but it could be improved. And so what are we going to do? We're going to spend today improving it. Why? Because there's this thing called lifetime value. Paper, Sharpie. Lifetime value, now or LTV. Now this concept is very underestimated, right? So a lot of people, what they get mistaken with is thinking— well, this is you here— that you do your work, say you charge $1,000 for it, this number is arbitrary, you get customer 1 and customer 2 for $1,000 and then you're done here, right? No, that's not the case. What you really want to think about is the long term. This transaction, this one here, This is only one transaction. If you want to generate something over the long term, you want to be focused about transaction 2 and transaction all the way down to X. Why? Well, look at here. So we've got you, you produce something, your work 1, you get customer 1, customer 2. They're both $1,000 customers. Then say for example, you got your work 2 and you charge $10,000 for this. Customer 1 decides to follow on. Now, Customer 1 is an $11,000 customer, right? And if this kept going, Customer 1 could turn into potentially a $100,000 customer after 10, 20, 30 years. Alright, so how does any of this relate to me? Well, if I'm setting my business up for the long term, in order to ensure that deals keep coming through to me, because that's the ideal place that you want to be, right? You want deals to be coming your way. I need to ensure that the work I'm doing in the short term, I enjoy it and I put it out as high quality so that it builds for the long term. This is where all the value comes from. It's compound interest. Those gains you gain over a long period of time. So when I get an email saying that, hey Daniel, the project you're working on, everything looks great. However, there's these small tweaks that would make it better. Of course I'm going to implement those small tweaks. So that's this afternoon's project, but I'm gonna have some lunch first and then we'll get into doing the actual work. All right, it's a bit dark here. Let me get some light on. Much better. Now, never underestimate the power of communication or the importance of communication. Why? Well, because all the changes that I just implemented then are a result of me following up going, "Hey, is what I submitted correct? Is it ready to go for the next stage?" So if you have a remote client or a remote project, never be afraid to touch base, right? And just to make sure everything's going okay. 'Cause communication, I mean, although the technical challenge, like I've solved those, communication is still incredibly hard challenge to solve, right? So you can never over-communicate too much. But that's enough. I gotta go get ready for a jiu-jitsu Ironman tournament. I'm excited. Ah, well, if it isn't my arch nemesis, Gordon Ryan, AKA Devo. Look, guys, this is going to be my opponent for the night. We've got an hour roll, no gi and gi. You excited, mate? What's your tactic? I'm looking forward to being able to teach you some stuff. So we think. So— Round 1. How'd you feel, big boy? Oh mate, the effort required to rub right now. Hahaha. And this thing has a clutch and a half. Got you on the foot locks, baby. Hahaha. What was the count, Davo? Mate, my bet, I think you got me by a couple for sure. Got you by a couple? Did you hear that? 75 kilo rig, still got it. Oh, whoa, whoa, whoa, whoa. See you tomorrow. Alright, reading done. Writing can wait till later tonight because I've cut off everything else. You see here? Now, I said yesterday that the deadlines are real, and so that's what I'm doing all today is just making sure that the project is done because today's Friday and I want to have it done so that my mind is free to just work on my own things over the weekend. So I'm going to finish it today. So I'm saying no to everything else. That's kind of what I have to do. So fix ACG project, that's A Cloud Guru. No to everything else. I'm going to do some yoga later because I work out every day. That's by default. Woo! That's what it's about. I got the feedback at the start of the day, all implemented and submitted. Well, actually it was kind of yesterday, but long story short, all implemented and submitted by the end of today. There we go. Second draft. Boom, boom. Intro, outro, full video. That's uploading now. That'll be submitted. I need to send through an email to update them on what I've done. So proud. Look at this setup. I got lights. I moved all my stuff from my desk to my bed. Another light. We're getting fancy in here. And I've left myself a note as a reminder. My ability to stay in business depends on my ability to iterate and deliver. That is the most important part. Woo! What a big week on tour. Second week in business. It's good fun. It's good fun. My brain is absolutely racked from working on stuff today, but It's worth it. You know what, we're only 2 weeks in, but I can't help but think I'm doing something wrong. I've kind of got an idea what it is, but we'll save that for the next video. Anyway, you know the drill. Keep learning, keep creating. We'll see you next week. Oh yeah, I forgot to say, if you have any questions, leave a comment below. I'll get back to you all. Otherwise, we'll see you next week. This is for real this time.
