January 2016 - Monthly Income Report |

January 2016 – Monthly Income Report

Well, as with many of the other months, January has been nothing short of a whirlwind.

I created my first consulting website and everything didn’t go as planned, I made a really awesome tutorial showing you how I redesigned my own website without coding, and I began work on another consulting website. All this while I continue to work on my new authority website as well.

You’re probably thinking, “That’s a lot of websites!” Well yeah, it is and I agree with you.

Continue to read below to understand exactly what I did.

Before I begin the income report, if this is your first time on my website let me explain why I write a detailed income report each month that outlines the money I made (or lost) and the time I spent working each month.

I’m doing this for a number of reasons:

1) I strive to be transparent about what it takes to make money online. Unfortunately the “make money online” industry is full of scammers that make ridiculous promises like “Work 10 minutes and make $5,000!” The reality couldn’t be further from the truth, this online business gig is a lot of hard work and these reports show you how much time I put into my business and how much income I make from that effort.

2) These reports help me keep track of my own progress. By creating these reports every month, I’m able to see where I’m spending money and how much time I’m spending doing various tasks.

3) These reports hold me accountable. Each month I list goals I have for the following month and my hope is that my audience will hold me accountable.

Now that we got that out of the way, let’s dive into the report.

How much time did I work this month?

TASKTIME WORKEDTIME CONTRACTED
Monthly Totals47:7539:00
BLOG: The Ultimate Thrive Themes Tutorial And Review7:000
BLOG: 9 Things I’ve Learned While Being an Online Entrepreneur for 9 Months3:000
BLOG: Quit Being So Cheap And Outsource!2:300
BLOG: December 2015 Income Report2:150
Consulting Website - www.lawyerinternetads.com17:009:00
New Consulting Website - Undisclosed Niche7:000
Authority Website - JobsForFelonsHub.com1:000
New Authority Website2:0023:00
Facebook | Twitter | YouTube | Google +2:300
General Website Maintenance3:307:00
 

Discussing this month’s time worked

I spent more time blogging this month than I did previously and I have to be honest, it feels good to do again.

Previously I was blogging to try to get ranked for different SEO terms, but now I’ve just decided to blog out of passion and I’ve fallen in love all over again.

Here are the posts from the month:

The Ultimate Thrive Themes Tutorial And Review:  This one is an absolute gem and something that I think everybody needs to take a look at. Basically this blog post shows how I redesigned my own website without any coding knowledge and I sincerely believe that you can do it too.

9 Things I’ve Learned While Being an Online Entrepreneur for 9 Months:  There are a ton of lessons that I’ve learned my first nine months as a online entrepreneur, and these are nine of the most important ones.

Quit Being So Cheap And Outsource!: Many people are hesitant to outsource their work, but I think that this blog post might sway you to do so. Don’t worry, it’s in your best interest.

December 2015 Income Report: As always, I completed an income report and December wasn’t too shabby.

Aside from the blogging, I completed the launch of my first consulting website (LawyerInternetAds.com) and unfortunately things haven’t gone as well as I had planned.

After spending over $160 to send individualized emails and run Facebook ads as well as LinkedIn Ads to a free webinar, I had the realization that lawyers get pitched on stuff all the time.

Oops.

Probably should have thought of this before because I spent quite a bit of time creating a funnel as well as the website itself.

But I think that this is a pretty common mistake people make. You get all excited about idea, you jump on it and build it, and then afterwards you begin to wonder why it isn’t working.

It’s okay though, I’m still going to keep the website up and have been utilizing other platforms to connect with potential clients. While I don’t know if this is going to work just yet, I’d much rather have this website up and show it to them as opposed to not having it at all.

Now I’ve begun work on another consulting website, but this one is focused on a particular niche and is more of a “Full service agency” type feel.  I’m doing this because I’m realizing that people don’t just want a specialist in one area of internet marketing, they want someone who understands the full breadth of Internet marketing and I’m definitely that guy.

In addition to that, I’m really passionate about the businesses that I’ll be helping with this consulting website and I discovered previously with my Jobs For Felons Hub website that if you can align your morals and aspirations with profitability, it’s a win-win.  I’ll be updating all of you once I launch the new consulting website.

I did almost no work this month on my main Authority Website http://www.JobsForFelonsHub.com. Yet, I still made some income and this is pretty cool because it’s the passive income dream that everyone talks about.  If you’d like to learn more about how I made this website, click here to get my free mini course.

I also put a lot of my outsourcing efforts towards building out the new authority website that I’m creating.

I still don’t want to disclose what the topic is, and I recently told my freelancers to put everything on pause as I want to conserve spend, but I have high hopes for this one.

Facebook Twitter | YouTube | Google +:  Next we had the typical social media time which is never a large amount of time.

General website maintenance is my catch-all bucket for random tasks that I complete throughout the month. I don’t typically detail all of these because there’s just a lot of random things that you deal with on a day-to-day basis.

How did the income report turn out this month?

PRODUCT OR SERVICEREVENUEEXPENSESNET INCOME
TOTALS$1951.65$1282.44$669.21
MyPerfectResume.com$5.12$5.12
Long Tail Pro$10.00$10.00
Themeforest$13.18$13.18
YouTube Channel$46.19$46.19
Google Adsense$59.04$59.04
Bluehost$65.00$65.00
Indeed.com$182.75$182.75
Udemy Course Sales$400.97$400.97
Consulting$1140.00$1140.00
Shutterstock$9.00$29.00-$20.00
Aweber Email Platform$20.40$49.00-$28.60
Hootsuite Social Media Platform | Tutorial$10.00-$10.00
Acquity Scheduling$10.00-$10.00
Namecheap Domain Names$10.87-$10.87
Siteground Hosting$14.95-$14.95
Ultimate Social Deux$15.00-$15.00
Fiverr.com$16.00-$16.00
Call Rail$35.26-$35.26
Linkedin Ads$53.63-$53.63
Facebook Ads$54.63-$54.63
Powtoon Animation Software$250.00-$250.00
Upwork.com (Formerly Elance)$734.10-$734.10
Income By ChannelConsultingOHP WebsiteJFFHub WebsiteYouTubeUdemy
January 2016$1140.00$117.58$233.00$46.19$400.97
December 2015$1163.75$76.00$121.30$38.83$17.15
November 2015$1150.25$39.00$138.11$36.78$245.68
October 2015$760.50$89.54$107.72$40.65$49.50
September 2015$1112.32$113.10$102.95$27.46$17.49
August 2015$1463.75$51.75$39.68$25.09$12.05
TOTAL$4476.57$486.97$742.76$215.00$742.84

Discussing this month’s income

Overall, my income this month was just over $600.  Not a bad month considering I spent way too much money for my liking, but you gotta spend money to make money!

Here’s how I made my money this month:

MyPerfectResume.com:  This is a really awesome resource that I found for JobsForFelonsHub.com, my first authority website.  Basically it lets people create their own resume online with the use of some awesome templates and it’s a great service to help those who aren’t trained in creating resumes.

Long Tail Pro: The absolute best tool for keyword research. I have no idea who it is that purchased this, but I thank you, grasshopper.

Themeforest: I’m a big fan of Themeforest because they have a lot of cheap themes that you can use for your website, but I must say that at this point Thrive Themes has stolen my heart as it lets me do 95% of everything I need without a developer.  With that being said, somebody ended up purchasing a theme and I hope it worked out for them so far.

YouTube Channel: Big money on YouTube this month!  Why?  I have no idea, but I was happy to see it.

Google Adsense: A pretty good jump in earnings on Google AdSense this month, and I can only thank my authority website for that.

Bluehost:  Someone out there took my advice and signed up on Bluehost. No idea who this was, but I really hope that you’ve already launched your website and are getting some traffic.

Indeed.com: Thank you authority website!  Never thought that I’d be getting this much money from my authority website considering it serves an audience that doesn’t have disposable income, but it continues to amaze me.

Udemy: My jaw dropped on this one.  You know why I made so much money? It was astonishingly simple, I just sent promotional announcements to my previous Udemy students and they purchased a course.

Two emails and $400, I REALLY hope that continues.

Consulting:  Had a handful of random things happen this month and I’ll take it!

Shutterstock: I had someone purchase an image through my affiliate link here and I don’t blame them because this really is the best platform that I’ve found.

Discussing this month’s expenses

Expenses this month were really high!  Most of this is to blame on my consulting website and second authority website that I’m in the midst of creating.

Aweber: Even though I made money with this platform, I still have my monthly fee that I have to pay for.

Hootsuite: Everyone talks about social media and how important it is, but have you taken the time to look in your analytics to see how many email sign-ups or purchases social media is accounting for? In most cases, the answer is none. This is why I use HootSuite.  At $10 a month and auto scheduling my posts, it’s well worth it.

Acquity Scheduling:  This is the scheduling platform I have chosen for my new consulting website.  This makes it so that people can request a time to meet with me and it automatically syncs with my Google calendar which was important to me.

Namecheap Domain Names: You know what becomes annoying very quickly? It’s when you are unhappy with a website hosting provider and have to switch, but your domain name stays with them. I recently consolidated all of my domain names with Namecheap and this month I purchased yet another domain name which is why it’s showing up on this income report.

Siteground Hosting: Gasp!  But this isn’t Bluehost, why are you using it, Ron?!?!?!

I use this hosting service because I have numerous online businesses and need a platform that has more to offer than Bluehost.  But again, I still think that Bluehost is a great solution for the beginners.

Ultimate Social Deux: You see that nifty little counter in the right sidebar that shows my connections on Facebook, Twitter, and YouTube? This is the plug-in that allows me to do it.

Fiverr:  By far my favorite place to find logos for my websites. Yes, I can always go to really expensive places, but I prefer just having two or three freelancers on Fiverr create something and picking from the best of the bunch.

Call Rail: This is the platform that I’ve been using to record my client calls for my paid search consulting gigs.

LinkedIn and Facebook ads:  Unfortunately, I was targeting lawyers when I posted these ads so my cost per click was much higher than I’m comfortable with. But, I had to give it a shot and wasn’t really impressed with the results.

Powtoon Animation Software: This was a painful price to pay, but Powtoon is what I use in all of my Udemy and YouTube videos so I had to re-up my yearly membership.

Upwork.com:  Woof.  It’s amazing how much money I spend on freelancers every month without even realizing it. This was absolutely necessary to launch my LawyerInternetAds.com website, but it was still quite a bit of money.

Did I Meet my Goals for January?

1) Get New Consulting Website Completed

Success!  I was able to launch my new consulting website in a little under a month and I was happy about this.

2) Get new consulting clients

A big fat fail here because things didn’t go as planned, but I think I still have a fighting chance.

3) Reduce Costs

HA!  No, I definitely didn’t do this but I feel that the money was well spent.

Goals for February:

1) Get New consulting website completed

I’m going to challenge myself this month and try to get my new consulting website completed. This would be my second consulting website in as many months and hopefully this one goes a little bit better than the first.

2) Get new consulting clients

I’m just going to have to find some clients in order to keep doing what I’m doing. I’ve already got some irons in the fire, but we’ll see if anything happens by the end of the month.

3) Reduce Costs

No JK this time, haha.  I really plan on reducing my costs in February and have already taken the steps to do so.

What are your goals for the month?  What questions do you have?  Let me know in the comments below!

Leave a Comment:

Francisco says February 6, 2016

Ron,

You made things really clear and clean. I really like the way you present your results, with tables. So easy to find what I’m looking for any moment.

Another thing I really like is when you explain the time you spent with any task, no many bloggers do that and it’s something I enjoy a lot and make me learn from you.

Also, I’ve updated your income report in the favourite bloggers list at http://passiveincomewise.com/favourite-bloggers/ I hope you like the idea.

Looking forward for the next month update!

Regards,

Francisco

Reply
    Ron Stefanski says February 6, 2016

    Thanks for including me, Francisco 🙂

    By the way, please check your spelling of “Professor” on that report, it’s incorrect. Good idea on the hosting platform in the table by the way, smart affiliate links 🙂

    Reply
      Francisco says February 7, 2016

      Thank you, I just modified. =)

      After all, you are the professor!

      Reply
        Ron Stefanski says February 8, 2016

        Lol, sorry! That’s just the teacher in me, but thanks!

        Reply
Ruth Anitha says February 6, 2016

Great post thanks for sharing.

Reply
Konrad Braun says February 15, 2016

You got my respect professor!
Reaching big income goals is great, but it’s the commitment to religiously publishing post after post that deserves the real applause.
Cheers 🙂
Konrad

Reply
    Ron Stefanski says February 15, 2016

    Thanks Konrad, much appreciated!

    Reply
Sowrabh Behl says February 21, 2016

At least this site seems honest.

Sites like smartpassiveincome.com are total bullshit with $100k per month income. I did the numbers and found that based on his youtube vists there is no way that you can earn that much. Anyway, thanks for this.

Reply
    Ron Stefanski says February 22, 2016

    Thanks for chiming in, Sowrabh! Some of his income reports definitely seem surreal, but more power to him if he does make that much! Thanks for the comment.

    Reply
    Brown Sugar says February 29, 2016

    He’s not making money because of YouTube visits. lol. Flynn is probably one of the most honest people online and if you’ve followed him at all you would see how he got to the 100,000 mark.

    Reply
      Sowrabh Behl says February 29, 2016

      Ahhh, yes he is.
      According to his income reports at least 40%-50% of his apparent income comes from this single video –

      http://www.youtube.com/watch?v=wPwQvnar99ws

      Which he uses to affiliate link to his bluehost account so people buy. The video is old (looks like it was made in the 90s!), outdated and bluehost have even completely changed the look of the site so its impossible to follow. It’s got 200k TOTAL VIEWS in all history.

      He would have to have a conversion of 600 users EVERY month to get 40k from Bluehost – and that’s from a video which can’t even be followed! As if. If my non-technical mother wanted a blog and followed his video, she would get stuck on step 1. When you add up all the figures his apparent ‘conversion rate’ is so astronomically high which is practically impossible.

      What he has going for him is that he looks like a trustworthy genuine guy. NO ONE questions him. He’s a genuinely likeable dude. I even ‘like’ him. But I don’t ‘trust’ him.

      Reply
        Ron Stefanski says March 1, 2016

        Yea, I think that video is a part of it, but remember he has Bluehost links all over the place on his website. Like I said though, if he really does that much, more power to him.

        Reply
        Brown Sugar says March 1, 2016

        You don’t know what his commission is from Bluehost. He’s said repeatedly what he gets isn’t the standard and that it’s been separately negotiated. So without that knowledge you cant’ say what his conversions need to be to get 40k a month from bluehost.

        Reply
          Sowrabh Behl says March 1, 2016

          Standard commission is $60 for Bluehost. Bluehost don’t even make $45 from the customer in the first year. In fact, if the customer doesn’t renew, bluehost acutally loses money on the deal (which is pretty weird business practise). It’s quite unlikely that he gets that much above the standard, if at all.

          Besides, of course Pat would say that he is getting a ‘special deal’ if he is trying to pull off getting $40K per month on his income reports.

          His figures are just plain wrong.

          Reply
      Ron Stefanski says March 1, 2016

      I’d bet he gets a small percentage from that video, but I agree. I bet most of his money is through his links on the website. Can’t even imagine how many he has on there…

      Reply
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