Comments on: 4 days into office life http://www.debtkid.com/4-days-into-office-life Debt Kid - I'm Getting Out of Debt Sat, 21 Nov 2009 02:42:10 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: DebtKid: The last 3 years in 17 posts http://www.debtkid.com/4-days-into-office-life/comment-page-1#comment-15976 DebtKid: The last 3 years in 17 posts Fri, 02 Jan 2009 23:04:36 +0000 http://www.debtkid.com/4-days-into-office-life#comment-15976 [...] Living in my office, getting a bit crazy [...] [...] Living in my office, getting a bit crazy [...]

]]> By: MoneyDork.com » Blog Archive » The VideoLife of DebtKid http://www.debtkid.com/4-days-into-office-life/comment-page-1#comment-1240 MoneyDork.com » Blog Archive » The VideoLife of DebtKid Mon, 16 Jul 2007 21:01:29 +0000 http://www.debtkid.com/4-days-into-office-life#comment-1240 [...] at www.debtkid.com there is a video fo the basic living arrangements of office-squater Debt-Kid.  The video shows where he is sleeping, where he is storing his clothes and a brief [...] [...] at http://www.debtkid.com there is a video fo the basic living arrangements of office-squater Debt-Kid.  The video shows where he is sleeping, where he is storing his clothes and a brief [...]

]]> By: Enough Wealth http://www.debtkid.com/4-days-into-office-life/comment-page-1#comment-1003 Enough Wealth Fri, 06 Jul 2007 15:18:21 +0000 http://www.debtkid.com/4-days-into-office-life#comment-1003 I know it's your "Best Case Scenario Ever", but it looks unlikely since you appear to have been stuck around the $7K/mo revenue mark since Jan, despite having a target of hitting $10K/mo by June back in Jan... So how realistic is a goal of $45K/mo revenue by Dec 1? Having a "stretch goal" is great, but I hope you've done some financial projections based on more likely outcomes. Just doing a back of an envelope calculation based on estimated probabilities is often helpful. For example, perhaps there is a: 10% chance that current business drops to $5K/mo and plans A+B don't pan out 30% chance that current business stays at $7K/mo and plans A+B don't pan out 30% chance that current business stays at $7K/mo, plan A adds another $3K/mo and plan B doesn't work out 20% chance that current business grows to $10K/mo, plan A adds $5K/mo and plan B adds another $5K/mo 10% that you achieve the "best case" scenario You can plug in whatever relative probabilities these outcomes have (in your view) and see what the weighted average revenue would be. Once you've done that you can do a sensitivity analysis by varying the probabilities within plausible ranges. This often will yield a pretty good estimate of what can realistically be achieved, even when you're starting with ball-park guestimates. It will do your self-esteem a lot more good to set achievable targets and meet them, than to "aim for the stars" and set yourself up for disappointment, even if things work out reasonably well. Regards http://enoughwealth.com I know it’s your “Best Case Scenario Ever”, but it looks unlikely since you appear to have been stuck around the $7K/mo revenue mark since Jan, despite having a target of hitting $10K/mo by June back in Jan…

So how realistic is a goal of $45K/mo revenue by Dec 1?

Having a “stretch goal” is great, but I hope you’ve done some financial projections based on more likely outcomes.

Just doing a back of an envelope calculation based on estimated probabilities is often helpful. For example, perhaps there is a:
10% chance that current business drops to $5K/mo and plans A+B don’t pan out
30% chance that current business stays at $7K/mo and plans A+B don’t pan out
30% chance that current business stays at $7K/mo, plan A adds another $3K/mo and plan B doesn’t work out
20% chance that current business grows to $10K/mo, plan A adds $5K/mo and plan B adds another $5K/mo
10% that you achieve the “best case” scenario

You can plug in whatever relative probabilities these outcomes have (in your view) and see what the weighted average revenue would be.

Once you’ve done that you can do a sensitivity analysis by varying the probabilities within plausible ranges. This often will yield a pretty good estimate of what can realistically be achieved, even when you’re starting with ball-park guestimates. It will do your self-esteem a lot more good to set achievable targets and meet them, than to “aim for the stars” and set yourself up for disappointment, even if things work out reasonably well.

Regards
http://enoughwealth.com

]]> By: ZINTRADI http://www.debtkid.com/4-days-into-office-life/comment-page-1#comment-974 ZINTRADI Wed, 04 Jul 2007 01:17:48 +0000 http://www.debtkid.com/4-days-into-office-life#comment-974 I know, just kidding there.. I'm keeping a look out for him down in tacoma here... I know, just kidding there..
I’m keeping a look out for him down in tacoma here…

]]> By: debt kid http://www.debtkid.com/4-days-into-office-life/comment-page-1#comment-969 debt kid Tue, 03 Jul 2007 22:19:18 +0000 http://www.debtkid.com/4-days-into-office-life#comment-969 Really? Oh heavens no. Casey isn't here (at least at my office). I have enough drama in my life at the moment. He's always been encouraging to me in a few e-mail he's sent, but I wouldn't offer him a place to stay. I mean, I don't even have a place myself! Really?

Oh heavens no. Casey isn’t here (at least at my office). I have enough drama in my life at the moment. He’s always been encouraging to me in a few e-mail he’s sent, but I wouldn’t offer him a place to stay. I mean, I don’t even have a place myself!

]]> By: ZINTRADI http://www.debtkid.com/4-days-into-office-life/comment-page-1#comment-968 ZINTRADI Tue, 03 Jul 2007 22:07:21 +0000 http://www.debtkid.com/4-days-into-office-life#comment-968 hey, you're not letting Casey stay with you in your office are you??? apparantly he's in Seattle right now. hey,
you’re not letting Casey stay with you in your office are you???

apparantly he’s in Seattle right now.

]]> By: ratty http://www.debtkid.com/4-days-into-office-life/comment-page-1#comment-962 ratty Tue, 03 Jul 2007 01:19:33 +0000 http://www.debtkid.com/4-days-into-office-life#comment-962 I just found your blog, and I have to say "thank you!" already. While I was on the phone on hold with Chase, waiting to renegotiate my interest rate, I googled something like "interest rate Chase negotiate" and your blog popped up first. The first Chase person recommended credit counseling. Um, no thanks. I asked to speak to the supervisor. The supervisor said there was "absolutely nothing" she could do to help me. So to her, I said, "Listen, I'm online right now, and I'm reading this guy's blog. He's trying to get out of debt, and he has $300,000 of unsecured debt. He owed Citibank nearly $30,000, and HIS monthly payment is $342/month. I have nowhere near that amount of debt. I owe you guys under $10,000, and MY payment is $352 per month. SOMETHING is wrong with this picture. I need you to help me out here." She said "Hang on, I'll transfer you." I repeated the story to the next person I talked to, and she gave me a hardship program with an interest rate of 2% and a payment of $175 for the life of the loan. WOO HOO!!!!!!! Thanks Debt Kid! (My credit score is already trashed, so I'm ok with the hit I'll take from the hardship program.) I just found your blog, and I have to say “thank you!” already. While I was on the phone on hold with Chase, waiting to renegotiate my interest rate, I googled something like “interest rate Chase negotiate” and your blog popped up first. The first Chase person recommended credit counseling. Um, no thanks. I asked to speak to the supervisor. The supervisor said there was “absolutely nothing” she could do to help me. So to her, I said, “Listen, I’m online right now, and I’m reading this guy’s blog. He’s trying to get out of debt, and he has $300,000 of unsecured debt. He owed Citibank nearly $30,000, and HIS monthly payment is $342/month. I have nowhere near that amount of debt. I owe you guys under $10,000, and MY payment is $352 per month. SOMETHING is wrong with this picture. I need you to help me out here.” She said “Hang on, I’ll transfer you.” I repeated the story to the next person I talked to, and she gave me a hardship program with an interest rate of 2% and a payment of $175 for the life of the loan. WOO HOO!!!!!!! Thanks Debt Kid! (My credit score is already trashed, so I’m ok with the hit I’ll take from the hardship program.)

]]> By: ZINTRADI http://www.debtkid.com/4-days-into-office-life/comment-page-1#comment-959 ZINTRADI Mon, 02 Jul 2007 22:08:21 +0000 http://www.debtkid.com/4-days-into-office-life#comment-959 the house sitting is a good idea... I would try to get out of that office as much as possible and kudos for attempting the side gigs for some apartment cash. the house sitting is a good idea…
I would try to get out of that office as much as possible and kudos for attempting the side gigs for some apartment cash.

]]> By: mapgirl http://www.debtkid.com/4-days-into-office-life/comment-page-1#comment-957 mapgirl Mon, 02 Jul 2007 20:16:04 +0000 http://www.debtkid.com/4-days-into-office-life#comment-957 Mind getting athlete's foot or weird fungal things at the gym. Invest in shower shoes, but yes, there is nothing like a real shower (hot water + lasting more than 5 minutes). Mind getting athlete’s foot or weird fungal things at the gym. Invest in shower shoes, but yes, there is nothing like a real shower (hot water + lasting more than 5 minutes).

]]>