1. To start
I will have nothing but:
2. To start
I can’t use any of my resources.
Everything I own will be put in a storage unit and my personal bank account will be drained to $0.
I can’t use anyone in my network for any help or advice. I’m cutting everyone off. Business relationships, friends, family, everyone I know professionally. Any person I’ve talked to before July 10th will be cut off from helping me for 12 months.
4. New Identity
Everyone I meet will not know anything about me or this project. My new name is Scott, I have no college degree and I’ve worked in a restaurant for 10 years. I’m an aspiring videographer (to justify why i might be shooting videos.) I will create new social accounts on facebook and linkedin reflecting this.
5. No Unfair Advantage
I will immediately cut off anyone I meet that finds out my true identity or that finds out about this project through any of my social channels. I’ll cut them off for the duration of the project, I don’t want any unfair advantages.
The $1 million in 12 months can ONLY come from revenue generated from businesses I start during the project or money I make working. Any revenue generated as a result of the youtube series will not count towards the $1 million goal. That means:
All of my personal expenses over the 12 months will only come out of my personal bank account with $0 in it and any business bank accounts I open during the project. None of my personal expenses will be covered by outside sources other than these.
At the beginning of this project I can’t use any credit cards or loans. I’m assuming my credit score is really low and no one will lend me money. As I generate income I’ll be allowed to get a credit card but will make educated guesses based on research about how much of a line of credit someone in my position would have access to.
9. Making Money
I can make money however I decide except:
10. Health Insurance & Phone
I pay for my health insurance and phone bill through my business. If I didn’t have my business these expenses wouldn’t be covered. To make this project as realistic as possible I will take $200/m out of my personal account starting Aug 10. $100/m for my phone bill and $100/m for my health insurance. I’m assuming that starting where I am with this project my healthcare would be $100/m and I will make an educated guess and increase it as I make more money throughout the 12 months.
1. Producing/Marketing This Project
Anything related to producing and marketing this project is fair game to use my current network and resources. This includes:
2. My Company
I still have some obligations at told media like team meetings, client meetings etc. Any of these conversations I have will only be about business and I won’t be having any conversations that would help me grow my new company.
I mentor a lot of entrepreneurs for free and I have mentoring commitments I’m not going to drop. I won’t be talking about this project or asking for advice from anyone I talk with.
I will be checking in with family from time to time to say hi but they’re aware of these rules and that they can’t help me in any way unless it involves growing the project’s social channels.
I do have a girlfriend that I’m moving away from to work on this project. Once I’m on my feet and have my own place to live she will be moving in with me. She’s aware of the project and the rules. She knows she is not allowed to give any advice or help me with anything related to building the business I start, supporting me financially, or helping me with day to day things in any way. This includes but is not limited to things like:
2. Cutting People Off
If anyone I meet finds out my true background or about any of my social channels/this project the rule is I have to cut them off for the duration of the project so I don’t have an unfair advantage. The only time I might break this rule is if I end up finding people to live with later in the project and they find out later after I’m already living with them. If I determine it won’t have an impact on giving me any type of unfair advantage I might not move/cut them off. If this happens I’ll let all of you know.
There are two people in my network that I might communicate with later in the project for a specific reason. I also might not though. IF I do decide to communicate with them you will all be made aware and it will make a lot of sense as to why these two individuals would be the only exception to the network rule.
It’s a possibility that just like anyone else I could catch covid or someone i’m living with catches covid. If this happens I might have to break some of the rules and use money from a source outside of my personal bank for this project to rent an airbnb to avoid spreading the disease to other people. I’ll have to play this by ear in the unfortunate case that this occurs.