I typically end up being lazy about writing my income reports right at the start of the following month but of all the things I wanted to do with this blog, it’s the one thing I want to consistently keep up with.
I’ve had a really good past several months since going self employed in September. My total savings has nearly doubled!
What’s new and positive in January?
This month I launched another very successful product with Paul James called “The Pay It Forward Method” which involved creating video audits to “wow” business owners when prospecting for SEO, web design or other services businesses could use.
I have been working behind the scenes on a new project with Paul as well which we are currently testing with Facebook ads. I went through David Siteman Garland’s Create Awesome Online Courses and have been spending a lot of time with course creation as my biggest focus.
I also found a partner that is going to be helping me grow one of my biggest niche sites. The site right now earns me a couple hundred bucks every month from Amazon Affiliates. The goal there would be to grow it to $500-1000+ and beyond passively with new content and link building.
What went wrong in January?
For this behind the scenes project Paul James and I have been running a lot of Facebook ads. We put a ton of time into perfecting the ads to convert on a free give away landing page but ultimately didn’t have the backend setup the way it should have been. Between that and testing another funnel we had in place we spent nearly $3000 on Facebook ads trying to find the winning targets. We generated about 300~ leads from this but ultimately have not made our money back from it. I don’t want to say this was a total failure by any means as much it is a learning experience.
We decided to invest $1500 on ads moving into February and hope we should have better results now that our funnel is built out much better than it was before.
I also had another good client decide to leave this month, I’ve noticed from inactivity for whatever reason my rating on UpWork has gone down a bit. This might make it difficult to acquire new clients on UpWork but as you can see in the report it’s still not the biggest income source. Even if I lost all my clients tomorrow I’d still have income coming in from online course websites.
Skillshare changed their payment model to be based on ‘minutes watched’ and this has caused quite the discussion in Skillshare groups, needless to say I had nearly 12,000 minutes watched on my classes and I think this could equal out to a bigger payout than I’ve ever had. I’m not sure if this is a positive thing though because I created a lot of short classes during the month of January. I don’t want to have to keep creating more content just to keep the minutes up.
What am I doing moving into February?
I have a new product launch going live with Paul on the 6th that shares a pretty unique method to bring in some extra affiliate commissions. I’m excited to see how that does and I think it will be a breath of fresh air to other methods people typically share in similar types of products.
I’ve mostly finished up the promotional side of setting up a brand new sales funnel and course backend. Since we want to really test out Facebook ads this project is just a waiting game at this point.
As a side project I’m going to checkout some various products on Muncheye and put together some comprehensive review articles with video reviews and bonuses for all of you guys. If I find some products I like I’ll share my experience with them and if they are worth buying or not.
*Note – I do include affiliate links in my income reports. If you decide to pickup any of the products mentioned I will earn an affiliate commission and I greatly appreciate it!
Let’s dive in shall we?
Pay It Forward Method – $3,534.44
FatJoe.co Guest Post Publishing – $130
Drip Core Webinar On Outsourcing SEO – $300
Marketing Inc – $498
Maps Mentor – $142.66
SEO Consulting Blueprint – $2,367.10
SEO Clients – $3,230
Newboie Traffic Formula – $44.28
Serpinatr – $26.31
Scopeleads – $100.50
Email Prospecting Blitz & Other Misc Affiliate Promos – $250.69
Skillshare – $841.01
Amazing.com – $362.20
Udemy – $1479.63
Teachable Course Sales – $31.31
JerryBanfield Course Sales – $15.20
StackCommerce – $610.98
Amazon Affiliates – $177.04
Total Income: $14,141.35
SEO Outsourcing -$1,397
Pay It Forward Method Advertising -$30
Facebook Ads -$1,442.23
GoDaddy BookKeeping -$44.58
Google Drive -$1.99
Total Spent: -$2,999.30
Total Net Income: $11,141.05