Monthly Income Report – May 2017

may 2017 title pic

So Many Changes!

What a month… Now that I try to think back what happened I can’t remember anything haha!

Actually it’s been quite eventful as my partner and I came to an agreement that we will stop working together on the side project and we’re selling the site.

‘Why’ you ask? Because over the last several months (over 6 months) I’ve been nagging him to catch up on the work so that we both worked on it an equal amount of time.

Not only is it extremely frustrating for him to constantly hear me say “catch up” but it’s also driving me insane.

I have enough energy to work on this side project daily but I don’t want to add more content so that he will have to catch up even more in hindsight.

As this has been going on for several months now and we’re sharing the profits equally I decided to call it quits and put an end to it.

The profits of the sale will be shared in proportion of the amount of work we put into it. So it will be something along the lines of 60% – 40% for me.

I don’t know the exact figure but since we’ve documented almost everything I can have a look once it get’s to that stage and once I know how much we’ll actually earn from it.

I’ve already gone back to an old site and started working on it but have mainly been reading one of the best books ever written for me.

I’m sure I mentioned it several times before but just in case you haven’t heard or read it yet, it’s called The 4 hour workweek.

Highly recommended obviously (yes that’s an affiliate link). It makes me want to start a new online business but I’m still undecided about it as I don’t want to launch a bunch of new things while I haven’t mastered affiliate marketing yet.

Besides the fact that it’s highly inspiring and motivating to get rid of your 9-5, it also pretty much shows you all the resources necessary for you to achieve this. I mean there’s a lot of free advice on the net but as I always say, it’s a lot faster and easier when it’s all summed up somewhere.

There are many case studies and examples of people who managed to escape the 9-5 in the book, but most important of all, he also shows how to pretty much let your business run itself.

Clearly that’s the ultimate goal as being self employed but glued to your laptop isn’t really the dream is it?

Comparing Statistics

As for my blog, I’ve gotten quite a few interesting guest post requests but also certain services asking for weird business deals. We’ll see how that turns out.

I know I’ve been a little late with this income report but I’ve been so tired lately and the heat has made it hard for me to sleep at night. I barely made it to the gym this week but after an excruciating leg workout today, it gave me the motivation to smack down this report.

may 2017 stats

Having looked at this graph, I started to understand the similarity to my side projects traffic as well. There was a bit of a decrease in the second half of the month as well.

I’m not sure where this is coming from, but I’m assuming it’s the summer vibes kicking in. Generally people tend to spend more time outside and less on their computers ordering things.

I’m guessing this goes for trying to look for alternative ways to make money online as well.

But on a second and closer look I can see that despite not doing anything (yet again) for my blog except for my monthly updates, there was a bit of an increase.

Especially as the last three months were very equal it’s quite surprising to see this upturn.

may 2017 traffic statsApart from the pleasant uptrend, the figures for pageviews and time spent on my blog are also looking quite healthy.

I haven’t really posted anything new in a while but I got some guest posts lined up hopefully and some post catching dust on my desktop that I’ve been meaning to post a while ago.

Here’s a quick summary of the change:

132 more sessions, 26 more users and 261 more pageviews. The bounce rate went up by 1.45%

Again this doesn’t mean much to me but it’s always good to have better stats rather than worse right?

May Thoughts

So as I’ve mentioned in the introduction, all our efforts and energy was put behind the side projects but since my partner and I couldn’t put equal amount of work into it it’s time to move on.

It just doesn’t seem fair to share profits when one puts more work into it right?

For the last two months we actually changed a lot of things but personally I think a few new articles would have given the site a strong boost.

If you take a look at the graph below, you can see how frustrating it is when you put a lot of work behind something and it just keeps declining.

may stats side project 2017

It’s been pretty stable near the end but I’m not looking for stability. We almost had 30k sessions in February and now we’re struggling to make half of that.

Earnings have been decreasing by $200-$300 every month so it just makes sense to sell it and get a big lump sum that I can use for a new project.

I already got a new project in mind I may start with minimal amount of money and very little work. Just to see how that could turn out.

It seems that every side project I start, has a great beginning but ends up in the gutter. But as long as I make some cash it’s always good to learn and try to avoid the mistakes next time I launch a similar project.

In case you’re wondering how much that side made last month, despite decreasing stats, this screenshot will feed your curiosity:

earnings side project may 2017

I know some of you are probably thinking “what’s he complaining about, there’s still over thousand bucks earned by doing nothing” but it’s a painful amount when it was supposed to be making $10k by then!

My primary goal is still to quit my job and live off my online earnings but that’s no where near enough earnings to make the dream a reality!

I bet once I reach a stable figure it will still be hard for me to actually quit because it’s such a volatile thing to make money for yourself rather than getting your fixed salary from a normal job.

That’s why I need to be making at least 10k a month to feel safe.

In terms of projects, I have already started doing a ton of research on a new idea and I’m probably going to get started just before my holiday.

I’ll be gone for a week and I want to see if within that week I can generate an income almost entirely passively and come back to tweak it and improve earnings.

It’s a bit of a scary move as I’ll have no control over what happens while I’m gone and I’m not taking my laptop with me this time.

I’ll definitely keep you updated here!

Objectives

Yet again I have set myself several objectives but I always forget them halfway through. Instead having a look and seeing what I set myself, I get distracted and focus on other things.

However, here’s the list and the results of what I planned out for May:

  • Set up a meeting with bank for potential second flat! (I wrote them an email and got my answer on how to approach flat number 2)
  • Save at least €200-500 (Technically yes but it’s still in my current account)
  • Work on old websites and give them new life! (Ongoing process and traffic has increased already)
  • Make at least $2.000 with side project! (Fail and sadly won’t happen anymore)
  • Invest into a few more shares (Don’t have the cash for it at the moment)
  • Re-read certain books (Almost finished 4hww)
  • Draft out future plan (Got a vague plan written down)

So actually I did almost everything this time!

Maybe I should set myself some harsher goals to speed up this darn process of freedom! I literally just got a call from work asking if I can come in earlier…

It’s these small things that will never make me feel free. Even weekends are wasted because Sunday is basically there to cry about having to go back in on Monday.

Anyway enough moaning and let’s take a look at the cash generated in May:
WA meaning

WA earnings may 2017

My costs as usual remain:

Total Earnings Of May 2017 – $1,163.25!

Slightly less than the month before and it’s painful. Believe me it is. To be fair most of this (if not everything) will be reinvested into my new project very soon.

The annoying thing about affiliate earnings is that you usually have to wait an entire month to get what you’ve earned the previous months.

Some of the affiliate programs even take longer. One of my main earners didn’t pay me out last month because one subscription asked for a refund and apparently that looked like a fishy activity on my account.

So I was denied my earnings last month and therefore will receive the month before May plus May on the 15th…

Anyway, I can’t really complain as it’s still a good amount of cash for doing minimal work coming right into my pocket (or paypal account in this case).

Objectives For June

Last month as well as this month, my goals have all been reached fairly successfully.

I think it’s time to push myself a little harder. Maybe my goals were easily achieved because I set them to be easily reachable. But you don’t want to be unrealistic either.

So what do I want to achieve next month:

  • Have my new project set up and running before my holiday
  • Save at least €500
  • Boost old website with 3 more articles
  • Make at least $10 with old website
  • Read at least 1 book
  • Make $1,000 with new side project!

Right, this should be challenging enough. I know that setting money goals are almost out of my hand but I feel like this could work.

It will involve a lot of trial and error but sometimes it feels like things are lining up and things are going the way I want them to.

You know when you’re waiting for the right moment or the right sign for an action, such as asking the girl of your dreams out or signing up to a gym class or maybe quitting your job?

Often times you just need to get your butt up and do it.

I’ve been dragging this idea of mine out for almost an entire month and the other day I was wasting time like a useless piece of garbage on my bead scrolling through Facebook and stumbled across an article where a guy literally made a million bucks with that idea in a very short time.

Now I’m not saying I will follow but I do believe I can make money with it.

Anyway, I hope my month inspires some of you to get started and make money online as well.

I don’t even know anymore how I used to live without this extra cash. It makes me feel a bit more productive, it’s always a great conversation starter and it helps me out every month.

I’m sure you’d love an extra grand at the end of the month no?

So what are you waiting for? This should be the article to wake you up and get started. If you are reading this, you have no excuse not to get started. Age, country, money … None of these should be a reason as you can start for free, from anywhere at any age!

2 Comments

  1. Hey Essi,

    I’m actually having the same issues with one of my Amazon affiliate sites as you.

    I have 150k words on it, and I’m doing a “last hurrah.”

    Basically I’m buying $400 worth of info content (to decrease the ratio of affiliate to non-affiliate content), buying $1,000 worth of links that I know for sure work, and doing 2 months of guest posting.

    If that doesn’t bring the site back from the brink of death, I’ll sell it and see if I can at least recoup some of my expenses.

    Also, if you’re looking for a book to read, I recommend “Be Obsessed or Be Average” by Grant Cardone, or his book the 10x Rule if you haven’t read them.

    Cheers!

    • Hey Ilya, I’m a bit slow with my reply but I wanted to take time to properly reply.

      Yea I figured I might as well sell off the site to someone who can bring it back to life and make a profit from it whilst I use the money to build up a new one.

      $400 content should give it a nice boost hopefully. I’m intrigued by which link building service you’re using. Maybe you can drop me a private message on my email?

      With all that money spend I sure hope it works out for you!

      I’ll have a look at that book. I just finished reading Hustle by Neil Patel and two other guys. I was part of the group that helped write the book so I wanted to see how it turned out :).

      Thanks for the suggestions however.

      keep up the good work 😉

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