Income Report August and Sept 2012 (full disclosure)

by Ade on October 29, 2012

Income ReportOver the past couple of months, I have been sharing only a portion of my online passive income, however I have decided to disclose every single dollar I make online so that you my readers will have a more realistic picture of what I am doing and how I am being motivated. My previous intention was to show the Adsense income on one of my websites and all new incomes generated after I started this blog in June 2012, however as the months have passed, I have come to realize that without the income from my other websites, I could not be motivated to continue on this journey. The question I am trying to answer is this. Is it possible to make a living online. Here is my updated income reports for June and July and a detailed income report for August and September 2012.

Income Summary

Disclosure: Many of the links below are affiliate linksfrom which I will earn a commission if you purchase through them. If you choose to do so, I will greatly appreciate your patronage. If however you have questions regarding my experience with any of the products, I will be very happy to answer them.

Updated Income for May – $611.28

Updated income for June 

  • All Previous Websites (Google AdSense) -$649.09

Updated Income for July

  • All Previous Websites(Google AdSense) – $772.11
  • L Niche Website (Google AdSense) -$0.59
  • EPI (This Site)  – Bluehost  – $65

Total Income for July – $837.70

August
  • All previous websites (Google AdSense) – $732.98
  • Sales of Ebooks connected to previous niche – $44.55
  • L Niche Website (Google AdSense) -$2.93
  • EPI (This Site)   – Ipower – $100
  • Love and Relationship -$0
  • African Reflection -$0
  • Infobarell -$0

Total Income for July – $880.46

September

  • All previous websites (Google AdSense) – $800.25
  • Sales of Ebooks connected to previous niche – $29.67
  • L Niche Website (Google AdSense) -$18.26
  • EPI (This Site)   – $0
  • Love and Relationship -$0
  • African Reflection -$0
  • Infobarell -$0.08

Total Income for July – $848.26

 

EPI (Exploring Passive Income) – $25 per day – my goal is $100/day by June 2014.

Although this website is designed mainly to track my income from my other websites, I have been able to receive a total of $165 from this site through affiliate marketing  I am grateful to the two readers who chose to use my affiliate links to purchase hosting accounts from Bluehost and Ipower (affiliate links). I find this very encouraging given the amount of time and energy that goes into making this blog available. I hope that EPI will contribute a fair amount to my target of $100/day. It is sweet to report that I am already at an average of over $25/day. All I need to do now is find a way of multiply the income streams.

Progress Report
  • My online income has increased by over $200 since May. I am happy that some of the changes that I have made on my previous websites have contributed to an increase of about $200 every month. That is a total of over $600 extra since I started spending an average of 2hr daily on the website. I must admit that in the last 2 months I have only been able to afford an average of one hour daily except Sunday when I don’t spend any time on this project.
  • I have learnt so much and I have not had enough time to write about or even implement many of things that I have learnt or still learning. Lately I finished an eBook and I am learning how to market ebooks.
  • Every time some visits our home for the weekend, we get into discussions on passive income and over and over again I am amazed at how surprised people are about how easy it is to start the process of making passive income online or at least having an blog or website. My brother inlaw Gbenga Olowosoyo came to visit in August and before he went back to his home in Ibadan, he had a personal website – www.olowosoyo.org. Regardless of the financial outcome of this EPI project, stories like this will always make my heart glad.

Way Forward

  • Since the goal of this site is to document my progress and encourage others to begin a journey towards making passive income online, I want to commit to a weekly posting schedule. I hope to publish a new blog post every Monday. In these posts I hope to give a summary of what I have learnt and done for the week and one detailed explanation of something I have learnt during the week.

What I learnt in August and September

  • Writing Sales Copies –  I invested a good number of hours to researching and modifying my sales copy for my eBook  I realized that no matter how important your eBook is, your readers still need to be motivated to read it in the first place. I also discovered a WordPress theme that cost $97 dollars and makes it very easy to design sales pages called Optimize Press (this is an affiliate link). I have found Optimize Press quite helpful with making frequent changes to my sales copy and inserting very attractive graphic components to the page. If you are new to web design or you just don’t have time to create your on graphics, I definitely recommend optimize Press. I have had a few challenges using it though. I discovered that its not very good for blogs so I had to install it in a separate folder so that all I use it for is my sales page. I hope to install another copy on this site sometime. I also find my sales page a little slower than my other pages but not too slow to warrant my not using it. In all I find my $97 investment quite worthwhile especially because I hope to use it again sometime in the future.
  • Selling my eBook – E-Junkie – Since I completed my eBook, I have been selling it with an advanced online shopping cart called E-Junkie (affliate link). I started of with the free trial and I sold a copy of my eBook and I then upgraded to the paid version for $5/month. E-Junkie keeps your PDF file and sends a  download link to your buyers. The link can be set to expire after a number of downloads. With E-Junkie you don’t have to worry about safeguarding the url of your eBook or how to manage your sales. I am yet to know and explore all the benefits of E-junkie but I can say categorically that for me it is a very useful tool for $5/month.
  • Pricing my eBook – I am yet to settle on a price for my eBook. I introduced it to the market at $4.98 and then increased it to $9.89 after an update. I am currently working on another update but I do not know if my low price is driving away customers. I plan to leave it at $9.89 for November and increase it to $19.89 for Dec and January and then compare my sales. Right now I have sold about 8 copies in 2 months.

Any Suggestions? – If you read anything on my blog and you have some suggestions on how to do things better or faster or if there is anything you would like me to throw more light on please feel free to do so with the comment box below. I look forward to writing another post next Monday.

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