Less than a week to go...

The $10 Million, 10 Year Challenge: My Journey Begins

Time is ticking...less than a week before my birthday (25 August), the official starting date of the $10 million, 10 year challenge.

Mixed Emotions and Anticipation

Generally, I'm excited about it! It's been great talking about the challenge with people and getting their take on it. The reason I say 'generally' excited is that I do have some fears around it: fear of failure, fear of executing, fear of the public accountability I plan to use as a tool to keep me motivated.

I can't wait to get into it though! It feels like I've been talking about it for a while now and it's time for the rubber to hit the road.

Operating Under Pressure: My Approach

The way I operate best is under pressure. I was thinking today about how a different type of personality would likely be more organised, have a clear plan, be ready to 'hit the ground running', but we're all different and I just don't operate like that. I need to be thrown in the deep end versus studying swimming, watching videos, going to lectures, etc. As an analogy.

The Strategic Framework

I'm not completely reckless though. I do have a rough plan for the first 3-6 months, broken down into primary and secondary focuses, with primary being money-related and secondary being support-related.

Primary Financial Focus Areas

My primary focus centres on Goleman Group, my current main source of income. I'm also managing a West Coast property with a long-term tenant and developing Weka Retreats, a boutique short-term accommodation project. Additionally, I'm involved in shares trading and dividends, plus holding a minority stake in a local business for future dividends. I'm exploring other income streams too, such as part-time work, contracting/consulting outside my day job, Uber/Uber Eats driving, and buying and selling on TradeMe/Marketplace.

Secondary Support Systems

Sleep is fundamental to my strategy, as it seriously affects productivity. I'm prioritising quality sleep through technology and conscious practices. I'm continuing through phases 2 and 3 of 75Hard, maintaining clean nutrition, and limiting alcohol to special occasions and trips away. Physical fitness remains crucial, incorporating gym, running, yoga, and walking. Ongoing reading and education complete my support framework.

Transparency and Future Content

I'm still deciding on the level of detail I'll share regarding numbers. A significant part of me wants to be fully transparent and reveal everything - it's likely the path I'll take, though there are some considerations and sign-offs pending. It's important to me that others can relate to this journey, and without disclosing the numbers, it might feel too abstract and less real.

I'm currently working on several draft articles covering topics such as budgeting and lifestyle balance, productivity and time management, my starting point details as of 25 August 2022, and forecasting how I could reach $10 million.

Would love to hear any suggestions you've got.

David