Category: Income Reports

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Income Reports

October Income Report

This will be my first income report. It’s taken me a VERY long time to get to this point with my blog.

I really have always been inspired by people like Pat Flynn of the Smart Passive Income blog, every month Pat shares his astonishing income reports.

I have spent a lot of money in the past year with online training courses, solo ads and other forms of costly projects. It’s actually a bit embarrassing and I don’t know that I could easily even add it all up in this post. Let’s just say I’m in the negative but I have decided to start with a clean slate. My goal is to spend all of my initial income on building my audience through my online show.

I had some very exciting happenings in October.

Current Projects:

  • I joined a fellow named Vinny Bock to help him re-launch v2.0 of his Simple Novice Profits course. I have helped Vinny turn his course into a fully setup membership site with TONS of content. The course is basically a means for outsourcing work to buy low and sell high to make profits and we plan to launch in November.
  • I spent some time in September browsing the auction site Flippa.com for website basically being curious and came across a business deal I decided to join in on. The owner of a web hosting company called HostMyDot was looking for one or multiple people to join as a 50% partner in the company. He had someone purchase 30% of the share for $3000. I decided to purchase the last 20% share for $2000. I will be earning 20% of the rough $600~ monthly income the company brings in as revenue.

What were the perks for doing this?

  • Free Web Hosting for life – no more Bluehost – I paid around $75 for the year
  • Free VPS server access – This is a $16+ per month service
  • Discounts on Dedicated servers and SSL Certificates – Basically at cost pricing

I have not received my first payment for this as of yet but this will be added to my November Income report and from here on out.

  • I used a tool called Arbitrage Underdog (See my Interview With Tom) to help me find a deal on Craigslist leading to the sale of a local Fence company website based out of Austin, Texas. They owner of the site gave me 8% of the sale, and I helped sell the website for $8000 which means I earned $640. I will be receiving the final payment in November so I will count this towards that months income.

Lessons Learned:

Many of you may or may not know but when I first started out online I jumped from one thing to another and still a lot of times find myself struggling with this. I started a niche site based on keyword research someone did for me to build out Headrest DVD Player but soon realized I was not all that interested in writing articles about this topic. I’ve since put that project on hold but did make about $2 from the site this month, nothing to rave about but it’s a lesson learned.

I launched my my first product as a 5000~ word eBook called the Ultimate Blueprint For Reaching Out To Entrepreneurs. I only sold one copy through the Warrior Forum WSO so I technically lost $33 on this and a lot of time setting up the sales page.

What I have decided to do based on receiving so many testimonials and reviews for handing out “review copies” is to publish the book on the Kindle platform and possibly lower the price to $3. I have heard a lot of people have had success with Kindle publishing and since the eBook is already written I think the hardest part is over with.

I also figure the reviews published on Amazon can be used as testimonials for myself and helping others.

Profits:

Profit: $439.30

Spending:

Total Spent: $131

Gross Profit: $308.30

Next month should be better if I can score another magazine issue and include my payments from the website sale!