A whole lot of management has been going on for me this last month. Obviously I haven’t spent that much time on the One Hour Professor website, but Website 1 and my new authority website have a ton of writing being done and I’m managing all of my writers and the articles that they submit.
In addition to that, I’m also managing the creation of my latest course on Udemy about email marketing and I’m heavily involved with reviewing and revising videos that my editors complete.
But I will say that this was an excellent month and that’s because there was a spike in social traffic to Website 1 and I was able to get a lot of things completed.
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.
2) These reports help me keep track of my own progress.
3) These reports hold me accountable.
In short, I don’t create these to gloat about my earnings. I create them to help you understand the true “earning curve” of online business. Now that we got that out of the way, let’s dive into the report.
How much time did I work this month?
|TASK||TIME WORKED||TIME CONTRACTED|
|BLOG: My Future Plans for OneHourProfessor.com||2:30||0|
|BLOG: April 2016 Income Report||4:00||0|
|NEW Authority Website||28:00||22:00|
|NEW Email Marketing Course||32:00||51:00|
|Facebook | Twitter | YouTube | Google +||7:00||0|
|General Website Maintenance||9:30||4:00|
How did the income report turn out this month?
|PRODUCT OR SERVICE||REVENUE||EXPENSES||NET INCOME|
|Kindle Ebook Sales||$4.12||$4.12|
|Long Tail pro||$9.97||$9.97|
|JFF Hub Contributions||$20.00||$20.00|
|Udemy Course Sales||$135.25||$135.25|
|Website 1 Partnerships||$235.00||$235.00|
|Flippa Sale of www.LegalMarijuanaHQ.com||$571.50||$571.50|
|Aweber Email Platform||$20.70||$69.00||-$48.30|
|Adobe Photoshop Account||$10.61||$10.61|
|Namecheap Domain Name Service||$10.87||-$10.87|
|Intuit Quick Books||$12.74||-$12.74|
|Meet Edgar Social Media Platform||$49.00||-$49.00|
|Transcriptions (New Udemy Course)||$62.00||-$62.00|
|Thrive Themes Yearly Membership||$147.00||-$147.00|
|Upwork Freelancers (New Authority Website)||$776.74||-$776.74|
|Revenue By Channel||Website 1||Consulting||Udemy||OHP Website||YouTube|
Discussing this month’s income
My income this month reduced a little bit, but it’s very close to the same number as last month. I’m definitely not upset as this was my second best month ever, but I’m hopeful that the projects that I’ve been working on will continue to increase my revenue in the future.
Website 1 Update: My authority website continues to deliver in terms of income. This month was a little bit of a drop in Google AdSense earnings, but there was an increase in earnings from Indeed.com. I’m thinking that my AdSense earnings will increase in the coming months as I just had my writer finish another informational database.
I’ve been reviewing the analytics and have seen that I’m starting to get organic traffic to the pages. We’re already working on another informational database focused on another area that can help this audience too.
In my estimation, this is going to end up increasing my website traffic around 10,000 people every single month once it’s completed and could definitely be more depending on how quickly I can get ranked.
Because of this, I’m really excited and hopeful that eventually I can make $100/day with the website.
There isn’t a whole lot more than I’m doing on this website now other than proofreading the content that’s submitted to me, building out the databases, and reviewing analytics. I’m also spending some time with link building as I get a lot of emails from organizations trying to partner with me and I’m leveraging them to link to me.
Once we get the current database built, I don’t see a need to continue to create a lot of content on this website. Most likely I’ll just have my blogger complete two articles per week, and then find a way to outsource some link building efforts until this website ranks number one for our main term related to the niche.
As of right now, it’s rank number four and seems pretty stagnant but with the right amount of back links this should change.
Consulting Update: I didn’t have a whole lot of consulting income this month, but I was asked if I’d be willing to work on a project with one of my clients that should result in a nice increase in consulting income in the coming months. My estimation is I’ll make an extra $750 – $1000 for the next few months which is obviously welcome considering all that I’ll be doing is project management and testing.
Udemy Update: There was a dip in earnings this month on Udemy and I think that this is because I’ve reached a saturation point in terms of how many times I can market the same course. I knew this day would come and though I don’t welcome it, I did expect it so I’m hoping that the new course that I’m launching this month will bring me a lot of new students.
I’m told by Udemy staff that they will be promoting my course and this could definitely give me a nice boost in income and student population which will of course result in more overall income in the future.
I’m expecting to have this new course launched by 6/15 and that looks like a very realistic date based on the amount of work I still have left to do. This is going to be my core focus until it gets finished and once it is, I’ll be drafting a new course about outsourcing and I’ll continue to work on my new authority website simultaneously.
OHP Website Update: As I mentioned in my previous income report, my plan now is to continually create courses and once I have created enough I will be offering them here and reworking my entire funnel to get people to purchase them.
I’ll also be upgrading my email platform as I feel that Aweber is fine for what I do now, but when I get into more complex sales and marketing strategies, I need to be able to move people from list to list and tag them appropriately. I’ll be changing to Convertkit at that time, but for now things can stay as-is.
I believe that once I do this, I’ll be able to to increase my One Hour Professor income by at least double.
YouTube Channel Update: It was cool to see my best month ever from my YouTube channel considering I’ve done absolutely nothing for months. I’m going to be releasing a lot of the lectures that I put on my new course into my YouTube channel this month to try to generate leads.
This will hopefully end up increasing the amount of money that I’m making from YouTube and drive some new visitors to the courses on One Hour Professor.
Website Sale: One thing that happened this month which has never happened before is that I sold a website that I previously built. The website is www.LegalMarijuanaHQ.com and though I was able to sell it for just over $500, it should be noted that I probably spent around a thousand dollars to create it. With that being said, I was very happy to unload this website as I feel like it has a ton of potential but it was a topic that I never should’ve focused on in the first place.
Discussing this month’s expenses
Aside from the recurring expenses that I have month over month, there really aren’t a lot of surprises on my expense report.
You’ll notice that Adobe Photoshop is a new line on my expenses and that’s mainly because a free promo that I had ran out.
In addition to that, you’ll notice that I have a charge from Namecheap and that is for my next authority website once my current one is completed. I have no intention of working on it now, but want to secure a domain name for the future as I know it’s the next thing that I need to do.
Other than that, my Thrive themes yearly membership renewed and I’m happy to spend that money as all of my websites are using their themes and plug-ins now.
Surprisingly even to me, there was a reduction in expenses on Upwork.com. However, I know this is short lived because in the coming months I’m having a ton of content written and this is typically costing me around $1/100 words.
While that may not seem like much, if you’re writing 50,000 – 100,000 words on a website it adds up pretty quick. This is exactly what’s happening with my new authority website and though there is going to be a cost now, I’m sure it’ll end up coming back to me in the future as income.
Unfortunately I just have to spend money to make money right now, but once it’s good to go in the future, I should be in good shape from a recurring income standpoint.
Did I Meet my Goals for May?
1) Launch NEW Authority Website
Done! My new authority website is launched but it’s definitely not complete. What I typically do is I launch a website without of the content written just to see how well it does in Google on what I had completed. I launched the website on 5/29 and so far I’ve had the following happen:
Although the amount of sessions is low, which is to be expected, these numbers are telling me some really good things. Those pages per session, average session duration time, and bounce rate are really low. I’m hopeful that this trend continues and I’m looking at these metrics every month. If that’s the case, I have a real winner on my hands.
2) Launch Email Marketing Course
I was unable to launch this course, mainly because my editor didn’t get enough finished in time but I’m very confident that I’ll be launching this in June. The nice thing is the rest of the work is on me and it’s a few screen recordings and a little bit of editing, the majority of my video editor’s work is done.
3) Publish 5 Guest Posts for Website 1ub
Although I wanted to focus on publishing guest posts previously, I had a change of heart and decided that the best thing to do right now is to build out the last few databases and get all of the content completed for the website. I didn’t hit this goal, but I’ll be focusing on Link Building a lot in the future which was the entire reason for doing this.
Goals for June:
1) Get New Informational Databases done on new Authority Website
I have two separate writers working on the informational databases on my new authority website and I’m reviewing and publishing the content daily. My goal is to get both of these informational databases done by the end of June and to push my writers to do so. We’ll see if I am able to pull it off, but if I am it should increase the traffic of my new authority website.
2) Launch Email Marketing Course
I absolutely have to get the new email marketing course launch this month and I’m confident that I can do so.
3) Get Database complete on Website 1
The last goal this month is to oversee the completion of my last database on Website 1. This is the current database and once this is completed, I really don’t have any of the things that I’m going to need for this website from a database standpoint. For now, we’ll just focus on getting the database complete and then July will hold a lot of the link building goals.