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. A perfect example of this is Tyrone Shum who confessed to “stretching the truth” about his six-figure earnings. 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 July:
10,209 page views (-3,540 from June)
2,148 (-1,555) iTunes downloads
6,597 (+458 ) Youtube channel views
45,727 (-525) minutes watched
Aweber subscribers: 4,491 (+1,468 subscribers)
Twitter followers: 5,405 (-4 followers)
Facebook Fans: 481 (+10)
Aweber: $49 – This is my list building software that allows me to email everyone when there’s a new interview
Host Gator hosting: $10
Hello Bar: $5
Skype: $40 for private number and calls
Product images: $15
Safe Swaps: $29.99
LinkTrackr: $27 for 3 months
Solo ads: $592
Total expenses: $1,074.06 (+$16.92 compared to June)
Total revenue from interviews: $1,402.60 (-$1,202.49 from June)
Simple Profits Blueprint promotion for Joshua Zamora: $32.33
Kindle earnings: $40.79
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
Income Igniter: $9.23
SocialAdr: $5.60 – A hands-off way of getting more likes and tweets for your posts
Private Coaching: $727.95
Product Launch Confessions: $711.65
Total from OTHER streams of income: $1,569.45 (+$1,223.91 from June)
Total Revenue: $2,972.05 (+$21.42 from June)
Total Profit: $1,897.99 (+$4.50 from June)
July was quite possibly the MOST stressful month that I’ve experienced all year. Why? Well, I finally put out my first product: Product Launch Confessions.
How did the launch go?
I’m actually really happy with the results. In July I sold 237 copies for a total of $2,534.79 in sales. Of course, I didn’t get to keep all that, as most of it went to affiliates mailing out for me. As far as my take, I earned $711.65 from the first two days of the launch. Of course I would have liked to have sold more, but for my first launch I consider it a big success.
What else is going on?
My earnings have been fairly consistent for the last six months, but I don’t want to lull myself into false security. Because I’m public with my earnings reports I feel a pressure sometimes to keep my expenses low (which is a good thing), but I think I’ve been letting that pressure inhibit experimental spending. So what does this mean? It means that I’ll be spending more and experimenting with other methods of increasing my income streams. It means that I’ll be spending MUCH more than I’m used to spending for a few months. Of course my profits will take a hit, but I’m hoping that in the long run I’ll be able to leverage my current cash flow to increase long-term earnings.
Of course I will be smart about my spending, but don’t be surprised if you see some lower numbers profit-wise.
Plans for the future?
I’m currently planning out my next product. I’m thinking about doing a product like Product Launch Confessions, but instead about building your list with solo ads. I have lots of questions when it comes to that type of traffic, and I think, with the right guests, I could create a wealth of knowledge in an interview product.
And of course, thank you so much for watching my show, buying through my affiliate links, and reaching out to me. If there’s anyone you’d like me to interview please let me know in the show notes below and I’ll try to get them on the show.