I’m trying to stay on top of these reports because for many of you, it’s inspiration on your very own increase income journey.
This month was exceptional because I attended FinCon, which is a meet-up of bloggers in the personal finance space. Though it threw a monkey wrench in putting out a lot of new content or doing a lot of promotion, I was able to network to the point of securing more income that should actually have me in the positive for 2017.
Before I dive into my income report. I want to let you know that I am switching my reporting from cash-based to accrual based. Normally, I only report income as I receive it in my bank account. But they way my accounting software is setup…..it’s accrual based and I just want to get these reports out quickly, you’ll notice that I will include income I’ve invoiced, but have not yet been paid for.
So without further ado….
I made a total of $2,595.69 for the month of September. Nice, but I still did not turn a profit! How can this be? A couple of things: 1) I had some extra expenses like travel, replacing my phone and 3 months of internet service to catch up on (more about that below.) Also, I didn’t start focusing on affiliate income hard-core until August. To me, this is where the money seems to be. The payout from that is not due until next month, so I am expecting to be in the positive from October onward! The affiliate sale strategy I adopted in August of this year was from the $22k/month blogger RoseMarie Groner of the BusyBudgeter.com, but I will talk more about that below.
Monthly Unique Pageviews: 27,000
Email List Size: 2,100
|Udemy.com Course Sales||$184.94|
|Sponsored Content Income||$1,917.67|
|Bank Service Charges||$15.00|
|Postage & Delivery||$30.00|
|Meals and Entertainment||$32.28|
|Advertising & Promotion||$58.55|
|Total Operating Expenses||$2,743.57|
This is an area I had ignored for a long time. I simply thought my traffic was too low for anyone to be interested. This month I had a couple of people reach out to me for sponsored content. Then, I won a contest sponsored by the Center for Financial Services Innovation due to an essay I submitted on Financial Health. Not only was my travel and ticket for my favorite conference, FinCon, covered but I also got to attend a FinX lab which is designed to help people experience the world as an “unbanked” person that is underserved by the traditional banking system. I’ll write about that soon.
I am still using this Pinterest strategy to get traffic to my site. But the numbers took a dip this month from last (I was at 30,000 unique page views.) I realized that I wasn’t removing underperforming pins from my campaigns as recommended in the Pinterest Strategy Guide I am using to boost my social media traffic. So I’ll try to adjust that and see if it helps for next month.
Now, I’m capturing that traffic with ConvertKit to help grow my blog sales. ConvertKit has been has been great in growing my email list and my income. I have been using that along with the SumoMe Welcome Mat and I’ve nearly tripled my email list in a little over 2 months. If you want more tips on how to grow your email list, check out this eBook I created on strategies and tactics that will help your email list grow: Grow Your Email List, Grow Your Income. You can get it free if your purchase the Core Affiliate Strategy guide that increased my blog income sales almost 400%.
Following the Core Affiliate Strategy helped me make over $2,500 in affiliate sales for August. I am truly amazed at what using this strategy did for me and my income. If you are interested in checking out the affiliate strategy that basically quadrupled my blog income, here is a link to Rosemarie Groner’s Core Affiliate Strategy guide. NOTE: This guide recommends you have an email list of at 1,000 people to do an effective launch. If your list is not that big, no worries, I actually wrote a quick eBook called Grow Your Email List, Grow Your Income on the subject of how to grow an email list. If you buy the Core Affiliate Strategy guide, I’ll give you Grow Your Email List, Grow Your Income for free. Just forward your purchase receipt to email@example.com to get it.
Though I’m not looking to trade dollars for hours any more, I do realize that adding some freelance writing to supplement my blog income has been helpful. I’ve probably got capacity for a few more clients. If you are interested in learning about how to start your freelance writing career, check out this eCourse by my friend, Holly Johnson who makes over $220,000 per year writing! It’s called Earn More Writing and launched today! (October 3, 2016) If you think Holly is unique, check out my post about other six-figure freelance writers.
What Didn’t Work
I realized I was paying too much for my cell service and internet. I canceled my service with Ting and am now with MetroPCS. I purchased a new-ish iPhone from Swappa.com and it seems I’m set for a $30/month cellphone bill. I was paying $90+ per month for internet service. The rate was around $84 and for some weird reason, I kept paying it late, adding more fees. It’s now on auto pay and I called to get a reduction in the bill. Their response? I’ve got a deal for $65/month! I forgot how important it is to stay on top of monthly fees and try to negotiate them down. It makes all the difference.
I am all but done with Udemy. The payout you see above is from two months ago, but the income has been steadily declining. For September, I made $45 from my eCourse sales (payable in November.) It’s true that I haven’t done much promotion on my own, but even with little promotion I made much more in the past. I have moved all my classes to Teacheable but haven’t launched them yet. I’m hoping that my email list will allow me to make decent amount of sales when I launch my Teacheable school for the new year.
Even though I didn’t come out in the positive, I am excited at the income gained and expect to make a profit going forward. As always, I’ll keep you updated.
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