So I checked my stats from October to February. My total income was $5,737.
My total expenses was $4,520.
That’s a profit of $1,217.
I was actually surprised about this because I’ve been spending quite a bit of money on my Internet marketing efforts lately. The good thing is that even with all my expenses I’m able to maintain some sort of a profit. If I stopped spending money on my business I could take in a monthly income of about $1,300/month. Not bad, but not enough to pay for all my bills and leave enough room for putting money away in case there’s an emergency. I also hit over $80/day as seen below!
So how much is enough?
I really don’t know. $3,000/month would let me live a fairly comfortable life here in Istanbul, Turkey. That would allow for a nice apartment, good food, entertainment, and enough leftover to put some in the bank.
What now?
I’m going to keep building websites and my income. In a few months I’m planning on selling some sites on Flippa to reduce the amount of sites I have and add some quick income. I’m really looking forward to developing a good reputation in site building and selling so that I can develop a happy list of clients. I feel like that’s the future for me.
Hey Mike,
With Google cracking down on link networks do you plan on continuing with this business model? BMR has been de indexed an I’ve been reading that Google has been on a rampage.
Regards,
Alex
Hi Alex,
Yes I plan on continuing on. I actually have only used BMR for about 8 websites, and I haven’t seen any drop in their rankings since BMR was indexed. I did go into BMR and remove all the links to my sites.
Other than not using BMR it’s business as usual 🙂
Mike, I don’t know that you are Turkey. Nice country!
One day I was thinking about your expense and it is a lot to me. Anyway, I think this is good to see your business growth and scale up like that.
I wish I have $1000 to invest on monthly basis too. I’m starting small with my Adsense effort and hope to see 4-digit Google Check soon too.
Kent,
I’m not Turkish, but I live in Istanbul.
Yes, my expenses are a lot, but my income is rising up, too. I’m hoping that in the next couple months I see a big growth in profits.
You don’t need to invest $1000. I started slowly with my profits from each month and reinvested everything back into my business. That’s the way to go in the beginning. It also makes you keep track of all your spending and not buy shiny objects.
That’s interesting, did you used to live in Maine in the US? My uncle lives there.
With the meagre profits from my small set of sites I pretty much turn everything back into the business. Content costs me a lot but I really think it’s paying off.
Andre,
Yes, I grew up in Maine and my family lives there.
I agree that you need to put your profits back into your business. It’s the only real way of making a good living on the Internet.