Entrepreneur Recap – February 2021

Entrepreneur Recap February Banner

February has been a busy month.
Not only was I moving again (this time to the Gu), and work for e-commerce clients kept me incredibly busy. On top of it all, I started a new workstream: DSL Crypto. Read more about it in this post below.
Other than that, profits are rolling in nicely and cash flow is at a solid high as well. Life in Bali is still wonderful. Even Gula has found a new boyfriend quickly here in Canggu.
Now remains just one more question: What is the next level and how to level up? I’ll let you know in my next recap once I found the answer.
Until then, I hope you do enjoy my entrepreneur recap for February 2021 and let me know any questions or comments in the comments section below. If you are an entrepreneur yourself and can relate to any of my stories, why not get in touch with me? I’d love to exchange knowledge, stories and experiences.

Table of contents

Personal Update

In February, I finally moved to Canggu. Or simply ‘the Gu’ – that’s how they call it.
This is where the rich and famous reside. The guys with the big arms and the tattoos on their tanned skin. The cool ones with the sunglasses driving around here with way too loud scooters. The place for the surfers and the sunnyboys.

So, what the heck am I doing here, haha?

I figured it might finally be the right time to spend a while around here after having stayed in pretty much all of the rest of Bali to date.
At least here you can connect with more people as it is pretty much the only place in Bali that’s still buzzing. All the rest has been pretty much decimated by good old Rona.

So, we moved into our new place in early February. Important as always to have a big garden with lots of grass, where Gula can play around. Lucky for her, the neighbours here have some pups as well, a boy and a girl, Sheilo and Sheila. Sheilo pretty much lives with us here, cause he and Gula are the new couple in town now. And aren’t they cute?

Goals – Q1 2021

Let’s review my goals for 2021, as outlined in my entrepreneur recap for 2020.
For 2021 I set myself the following four goals:

  1. Take a break from E-commerce and focus 100% on DSL
  2. Open the entrepreneur house in Bali
  3. Launch the DSL trading academy
  4. Increase net worth to £80k (+100% YoY)

In January and February, I mainly worked on the first goal, which breaks down into the following sub-goals.

Overall net worth: £50k Green tick
Crossed this one off already. Net Worth by the end of Feb: £53k
Looking strong on that one.

3 months of net profitable trading (Proof of Concept in Live)
Not on track on this one yet. So far down about £135 on the year, so nothing going majorly wrong, but also not in the right direction. March will tell if I will be able to cross this off the list. If not, I might need to take the leap forward anyhow and jump right into the deep end to figure this out. I’ll tell you about my decision in the next Entrepreneur Recap.

In regards to the Entrepreneur House, I’m signed up to a new Gym here in the Gu and already met a few new people, which may be candidates for this project. Nothing seriously in discussion yet though, so I’ll see how this develops.
Co-working space not been in the mood so far signing up to one, maybe once I’ve moved forward to the second phase of my journey this year. We’ll see.

  • Sign-up to new Gym to meet new people Green tick
  • Sign-up to co-working space to meet new people
  • Make list of potential candidates for entrepreneur house

Workstream Overview

Here you find an overview of my ongoing workstreams, which are Dan Schenk Life, DSL Investment Trust, DSL Trading and Consulting with Tritium Growth Partners. Under Dan Schenk Life I’m grouping all sorts of income-generating streams and not just developments on this website.
Also, I’ve opened a new workstream last month, which is all about cryptocurrencies. I’ll call it DSL Crypto. Any gains/losses won’t be counted into the monthly profits, but will obviously count towards my net worth. If this workstream attracts interest, I might start a dedicated section about it with regular updates. Let me know what you think of it.

February continues the year with a strong performance. A decent £5k profit in the books.

Total Profits February 2021 (Excluding any gains/losses from the workstreams DSL Investment Trust and DSL Crypto): £5,090

Dan Schenk Life

No revenue on dan-schenk-life.com right now.
Unfortunately, there also isn’t any time right now to build this out, although plenty of plans are there.

Might see some more activities here in Q2 and beyond.
This month I might need to migrate this site to a new server, which likely will be a pain. But my old server is pretty much at EoL, so guess I have to deal with it sooner than later.

Profits and Losses

Revenue: £-

Cost Breakdown
Hosting: £24.60
Total Costs: £24.60

Total Profits: -£24.60

DSL Investment Trust

You can read my full investment portfolio review for February 2021 here.

DSL Investment Trust - 1 month performance - Entrepreneur Recap - February 2021

February 2021 was a solid month for the overall market. Most indices are in the green, but my portfolio was once again coming out on top of them all with a huge gain on the month. This puts me up nicely on the year so far. On top, I was able to reduce my overarching cash position a little bit, yet it remains my biggest holding right now. This year I’m certainly prepped better for the next storm than last year, so I’m looking forward to some nice pullback to get the rest of my cash back into the market.

Overall Portfolio Performance

February 2021: 8.6%
All-time: 43%

DSL Crypto

Here we go. As the latest workstream in the DSL world, I happily announce DSL Crypto.

While I was holding some cryptocoins already since 2017, I never actually traded them or looked at them more regularly than once a month checking how much they’re worth.

A friend of mine now convinced me to invest more into crypto: “The big advent of crypto is here” he said – I assume you’ve heard that crypto fanboys talk, haha.
In any case, my initial plan was to invest about £7k into Stocks in Q1, but valuations seem to be high at the moment anyway, so I thought why not do half-half. £3.5k into Stocks and the other half into Crypto.

So, I went and signed up for a Binance account, here is my referral link, if you fancy joining the crypto fan group as well. Sign-up it’s free and will get you hooked in no time – guaranteed.

I’m not quite sure yet, what to document here about this workstream, so for now, let’s just have a look at my top 10 coin holdings.

NrHolding% of Crypto Portfolio
1REEF12%
2EOS11%
3ALPHA10%
4HIVE9%
5LIT8%
6SXP8%
7BEL4%
8FLM4%
9CRV3%
10BZRX3%

I’m thinking of making this a seperate section here on Dan-Schenk-Life. Let me know if you would like to read more about this workstream, like what I buy and sell, how I decide what to buy and sell and a view on my profits and losses.

DSL Trading

DSL Trading PnL February 2021 - Entrepreneur Recap - February 2021

DSL Trading in February was going better than in January for sure. I had some nice winners and trading the indices was certainly more entertaining than UK stocks, which I was still doing in early January.

At the peak, I even had close to £250 in profits on the month. Unfortunately, afterwards, I had a set of really ugly trading days, bringing me back down into the red.

I was mainly trading the FTSE 100 index as well as the German DAX index. I’m still not quite sure which strategy to follow on those indices. So I benchmarked longer hold swing trades against short-time hold day trades. The swing trades seem to have come out on top for a while, but in the end, those larger swings happen too rarely to consistently profit off them. Besides, there’s a much larger risk associated with them.

So, quite possibly I’ll focus on the shorter timeframe day trades. Getting in and out quickly, taking profits off the table, then moving on to the next trade set-up.

Additionally, I will also be trading some US market indices in the evening hours here in Bali. Certainly the NASDAQ and possibly another one as well. From the 15th of March, the US time zone will be moving forward again for one hour, which puts my trading window at 9.30 pm-10.30 pm here in Bali. That’ll work for me.

March will be the ultimate test for this workstream. Will I be able to turn over at least £135 in profits on the month, which would put me into the green on a 3 month period? If this is achieved, I will finally be able to enter the next phase of my journey and focus more on this workstream plus building out some cool ideas in this space. I shall keep you posted.

Total Profits: -£34.94

Consulting with Tritium Growth Partners

Again, I’m looking back at a busy month full of work with Tritium Growth Partners. However, the hard work also paid off nicely. Over 5 grand in the books, that keeps the party going for a while.

I’m at a point right now, where I have to decide to either keep going hard with this workstram and further boosting my cash flow – or is it the right time to take a step back and focus more on my other workstreams. I’m still pinging this thought around in my head and am not quite sure if I’m ready yet. I’ve got about 6 months of expenses in cash in the bank, so could try to build my other workstreams into a cash-flow machine of their own within 6 months, but you’ll never know how long it takes and if it’ll be successful. I’ll announce my decision in the next entrepreneur recap.

Total Profits: £5,120

Cash-Flow Update

Cash Flow - February 2021 - Entrepreneur Recap - February 2021

On the Cash-Flow side, I had a blast of a month with loads of positive cash-flow coming in.

I certainly did overspend my monthly expense target of £2,500 quite a bit, but looking at the year so far I only spent £4,414 out of my £5k budget (that is excluding funding my trading account and Business Expenses).
So overall, all on track with the expenses.

On the incoming side, I had some outstanding invoices cleared, which gave last month a nice cash flow boost.

Outgoing
Health Insurance + Health Expenses: £52
Rent: £1,442
Living Expenses: £1,511
Travel / Leisure / Gifts: £-
Trading Account: £2,250
Business Expenses: £25
Total Outgoing: £5,280

Incoming
Tritium Growth Partners: £10,810
Total Incoming: £10,810

Net Cash Flow: £5,530

Outlook for March 2021

In March I will hopefully be able to wrap up my first goal and come to a conclusion what I will mainly focus on in the second quarter of the year. Also I keep thinking about that Entrepreneur House, albeit more of a longer term goal.

Goal 1 – Take a break from E-commerce and focus 100% on DSL
From a net-worth and cash perspective, I’m pretty much ready to jump. Just from a trading perspective, I’m still hesitating. If I’m able to have a blast of a month in trading in March, then I’ll certainly make the jump. If not, I’ll have to evaluate hard what potential risk-reward set-up I’m looking at here.

Goal 2 – Open the entrepreneur house in Bali
This one is still on my mind, and few potential candidates may already be in play. I might start this as a trial run on a small scale in the upcoming months, then expand further from there.


I hope you enjoyed reading my Entrepreneur Recap. If you did, you can read other recaps and more content in my entrepreneur lifestyle section.

If you are an entrepreneur out there and you are reading this, please contact me over social or drop me a comment in the comments section below, because I would love to catch-up. I’m also planning to interview other entrepreneurs on this channel, so let me know if you would be interested in that.

And as always, if you have any questions, drop me a comment in the comments section below.

Take it easy!

Dan Schenk

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