Every month I publish an income report…why? Good question
With all the shiny objects out there it’s easy to spend WAY more than you’re earning. Luckily I realized this early on and I’ve kept detailed records of my expenses ever since. That being said, I know that there are certain expenses that are NECESSARY when running a business. As much as I don’t want to pay for them, I need to pay for my email autoresponder, website hosting, and iTunes hosting every month. It’s just a part of doing business. There are other things that I buy as well, but I try my best to keep my expenses SIGNIFICANTLY LESS than my revenue. If I can do that then I’m ahead of the game.
On my show I ask my guests a lot of personal questions. One that frequently comes up is “How much do you make?”. I feel like I need to reveal my own income if I’m going to be asking others the same question. It only seems right.
There are a lot of online marketers out there who fake-it-till-they-make-it. In other words, they fudge their numbers and exaggerate their earnings in order to establish false authority in their niche. My goal is that by watching my income grow slowly over time you’ll realize that there is no get-rich-quick button.
Here are my results for August:
11,729 page views (+1,520 from July)
2,010 iTunes downloads (-138 from July)
6,860 Youtube channel views (+263 from July)
51,921 minutes watched (+6,194 from July)
Aweber subscribers: 5,031 (+540 subscribers from July)
Twitter followers: 5,500(+95 followers from July)
Facebook Fans: 501(+20 from July)
JV Gift Expense: $51.74
Aweber: $49 – This is my list building software that allows me to email everyone when there’s a new interview
Hello Bar: $5
Skype: $10 for premium
WuFoo Forms: $14.95
Optimize Press 2.0: $197 – This is the new version of a theme for building sales pages, squeeze pages, and membership sites
Safe Swaps: $29.99 – A place to do ad swaps without having to worry about getting ripped-off (to an extent)
Fiverr: $95 – This is where I get a lot of my work done very inexpensively
Vagex: $10 – A tool for increasing your Youtube video rankings
Facebook Ads: $17.03 – I did a couple of ads with Facebook
Offline Business Themes [VOL 5]: $27
Mobile Renegade: $37
Warrior Forum Ad: $5
Solo ads: $796.50
Total expenses: $1,590.16 (+$516.10 compared to July)
Email Secret Weapon: $70.52 from interview with Matt Bacak
Reverse Blogging: $62.99 from interview with Mark Thompson
Total revenue from interviews: $1,790.90 (+$388.30 from July)
Quick and Easy Cash Blueprint: $281.67 - These are earnings from using Simple Novice Profits. I’ve created a detailed report about how I do this if anyone is interested.
Kindle earnings: $10
Text link ads: $24– I make this income from an old website of mine.
Whoosh Traffic: $17.90 – A keyword tracker for monitoring multiple keyword rankings
SocialAdr: $5.60 – A hands-off way of getting more likes and tweets for your posts
Optimize Press 2.0: $45.60
Total from OTHER streams of income: $664.70 (-$904.75 from July)
Total Revenue: $2,455.60 (-$516.45 from July)
Total Profit: $865.44 (-$1,032.65 from July)
Only $865.44…what’s going on???
Is it the end of the Mike From Maine Show???
Not even close.
So what happened in August?
I spent A LOT on solo ads…but unfortunately I was doing it the wrong way.
Yup, that’s right, I pretty much WASTED about $800 on solo ads.
“Smart move, Mike” is something you might say, but actually I am in the process of making a smart move.
What is it?
I got fed up with spending money on solo ad advertising and getting minimal results. I knew that there must be a better way…and there is.
Ok, then, what is it?
Solo Ad Confessions is on it’s way to stores near you!
That’s right, I’m at it again with another interview product. I’m currently interviewing 10 solo ad experts about starting and running solo ad business. Thank GOD I did this because if I had kept on buying solo ads using the method I used in August I would have just kept on blowing through my hard earned profits.
What else happened this month?
I’ve added a new source of revenue to my income. After doing an interview with Vinny Boccalino about his Simple Novice Profits course I decided to give it a try myself. With my first try I was already turning $45 into $87 over and over again. I’m even in the process of creating my own mini-course about it that I’m thinking about releasing to you all for a really reasonable price. I’ll finish it up today and it will be a perfect complimentary course to Vinny’s.
The end of summer
I’m actually happy and sad about Summer ending. Yes, of course I like to be in the sun and go to the beach, but I’m also excited to get back to work. I ACTUALLY enjoy staying at home and working on my business. I enjoy doing my interviews, and I enjoy learning more about Internet marketing every month.
But, yes, I love the sun too!
Here are some pics from August: