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Income Report #2 – July 2012

by Steve Scott | Join Him On Facebook

Income Report - June 2012It’s time for another income report!

Like many other Internet entrepreneurs, I use these monthly statements to show what actually works with an online business.

These reports are designed to be motivational to anyone interested in making money online and/or people who want to take their existing business to the next level.

Plus, they provide me with a bit of accountability because I know every month I have to report back how much I’ve earned :-)

Moving forward, these reports will be broken down into two sections:

  1. The income report with specific detail on what I’ve earned
  2. Lessons I learned in the last month which will impact my future income

Let’s get to it…

Monthly Income – July 2012

Here’s the monthly breakdown for July 2012:

I. Authority Affiliate Site:The bulk of my income comes from a few websites in a single affiliate marketing niche.  I don’t reveal the specifics of these sites to avoid competition and having people “reverse-engineer” what I do online.

Bascially I follow the six-figure affiliate marketing strategy I’ve listed here.   Specifically I’ve built a large email list in an ultra-specific market where I promote a variety of affiliate offers to subscribers.

I find most of the products on Clickbank.  But I also promote a couple of “self-hosted” affiliate offers.

Here’s how much I earned last month:

  • Clickbank (Email Marketing): $3,142.18
  • Self-Hosted (Email Marketing): $1,549.20
  • Thank You Page: $2,100
  • Total: $6791.38
  • Last Month: $7467.53
  • Difference: -$676.15

II. Information Product: I also have an information product in this niche.

The bulk of my information product income comes from an extensive autoresponder sequence. I have over 50 emails that provide a mix of great content and direct affiliate offers. So in a way… My information product income also comes from affiliate marketing.

  • Total: $1057.60
  • Last Month: $1244.57
  • Difference: -$186.97

III: Niche Sites: While I no longer build niche sites they still generate a little bit of income.  Here’s what happened in July:

  • Google Adsense: $13.23
  • Amazon Physical Products: $77.75
  • Clickbank: $189.82
  • Self-Hosted Affiliate Programs: $100
  • Total: $380.80
  • Last Month: $232.33
  • Difference: +$148.47

IV: Amazon Kindle: Right now, I only have two Kindle books: 55 Ways to Make Extra Money Online & Affiliate Marketing for Beginners in 2012.

July brought a significant amount of sales on the “55 Ways” title.  Now I see there is a lot of opportunity with Amazon publishing.  That’s why I plan on releasing one Kindle book each month moving forward.  (Click here to check out what I’m releasing next.)

  • Total: $403.16
  • Last Month: $25.11
  • Difference: +$378.05

V: Steve Scott Site: I also promote affiliate offers and my own information product on this blog.  Honestly, I’ve been lazy about doing this on a regular basis.  In the future, I plan on finding offers that get real results and working hard to tell people about them.

For now, I’ve made a little bit of money with this site:

VI: Mobile Apps: My first two apps have just hit the market.  So again, there is not much to report on the income front:

  • Total: $0
  • Last Month: $0
  • Difference: $0

Combine all six income streams and  you get a…

Grand Total of $9055.76

  • Last Month: $9,237.99
  • Difference: -$182.23

Yes, my income went down a little.  But I’m happy that it’s starting to become more diversified.  This is absolutely important because I’m 100% dedicated to taking my income to the next level!

So on that note, let’s talk about the lessons I recently learned:

Important Lessons from July

Lesson #1: The “Mobile Lifestyle” Isn’t Easy

Right now I’m with my girlfriend on a seven-week cross-country trip through the United States.  So far we’ve camped in amazing national parks like Yellowstone, Yosemite, Redwoods, and Kings Canyon.

The problem?

All these beautiful places have horrendous Internet and cell phone connectivity.  This makes it really hard to do any work.

I had big plans to do quality work on this trip and share my adventures on my Facebook and my Pinterest accounts.  Unfortunately the lack of Internet connectivity has made this impossible.

My point?

That stereotype of the mobile entrepreneur is complete B.S.  Yes, you can do work while vacationing and having fun.  But the quality won’t be there.

All of this emphasizes the importance of having a “home base.”  The Internet lifestyle provides a great opportunity to live life on your own terms. But it’s not easy to combine vacation and work.

My advice is to spend some time working really hard and the rest should be spent having fun adventures!

So for now, I’ve decided to focus on the important things (like blogging) and postpone everything else till early September.

Lesson #2: Diversify Your Income

I’m so grateful to have a reliable source of income with my affiliate marketing site.  This money has been there for over five years and has funded the future projects I’m currently developing.

Unfortunately I depend way too much on this revenue stream.  Add that to the fact that I no longer market my site because of a lack of personal fulfillment.  This is a bad combination for creating long-term wealth with an Internet business.

Writing the first income report made me realize the danger of my current situation.  No longer can I rest on my laurels and reap the benefit of the hard work from years ago.

Bottom line is I need to diversify my income.  And I need to do it NOW!

Which leads us to…

Lesson #3: The Opportunity of the Kindle Market

I’m really excited about the $403 from my two Amazon Kindle books.  Yes, it’s not a huge amount of money.  But it shows there is a huge opportunity in the Amazon marketplace.

My thought process is this.  I’ve made decent money as a newbie Kindle publisher.  So what will happen if I create a catalog of Amazon books full of quality information?  I’m fully confident that Kindle publishing can become a full-time source of income.

Right now I’m testing and tweaking my existing titles on Amazon.  Plus I’m on track to release three more in September and October.

The good news?

I plan on creating a series of blog posts on the lessons I’m currently learning. So stay tuned!

Lesson #4: App Development is a Lengthy Process

The mobile app market is another way I’m diversifying my income.  By no means is this an easy way to make money.  You need a lot of things to make this work:

  1. Specific mindset and a step-by-step strategy
  2. Ability to spot trends and discover what apps people want
  3. Capital to build your first apps – At least $1000
  4. Management skills when working with both graphic artists and programmers
  5. Dedication to keep tweaking and testing your results

I started my app business on May 1st.  It’s now the second week of August and I just released my first apps in the marketplace.

Developing mobile apps is a lengthy process and it’s definitely not easy.  I do think there is a great income potential to this strategy.  But I also think it’s something you can’t do half-assed.

Mobile app marketing is another topic I’ll explore in the future.   I am learning a lot lately.  So I’ll have more posts n this topic once I find something that’s “blog post worthy.”

Final Thoughts…

My second income report reminds me of that famous quote:

“The more things change, the more they stay the same.”

Lately, I’ve worked on two brand new business models – Yet my income is basically the same.  I think ultimately it’s important to go through these plateau periods because around the corner will come that next major breakthrough.

Hopefully my income reports in September and October will talk about one (or two) of these breakthroughs.

Till then, I’m going to enjoy the rest of my vacation and prepare myself for the massive action that will happen come September.

Questions?  Comments?

Respond below…

Take Action. Get Results.




P.S. Struggling with your Kindle books? Don't know how to get started on Amazon? Looking to generate an additional stream of income?

If so, click here to grab my free report "44 Answers to YOUR Kindle Publishing Questions"


{ 40 comments… read them below or add one }

Ana Hoffman

Nicely done, Steve!!!

Of course, makes me itchy to learn more about your niches… but I understand why some things are better left unsaid.

Have a safe trip.

Reply

Steve

Thanks Ana,

I sort of want to talk about it with specificity myself… But as long as it make up the bulk of my $$ I can’t risk it. Maybe when it gets down to about 40% of my income I can really break out details.

Thanks for the well wishes for the trip …having a great time!

Reply

Ehsan Ullah

Great effort Steve and also a great income you have online. I earned only $80 in month of July which is only from Adsense.

Reply

Steve

Ehsan,

We all have to start somewhere. I remember the first time I got a check in the mail fondly (quite a few years ago).

WHile adsense is great, I would recommend starting to diversify early. Build that list and all that! ;)

Good luck to you!

Reply

Tristan

Impressive numbers, Steve!

I definitely hear what you’re saying about the difficult of working and being mobile. I went on a three week mountaineering road trip around the western US last year and experienced the same problems. I’m moving to Mexico City at the end of the month and will be using that as a base to explore other parts of the country before continuing south through Central America. I actually found a couple co-working places in Mexico City. That’s something I’ve always been interested in trying out and this’ll be a good opportunity to see how it goes.

Thanks for the report!

Reply

Steve

Tristan,

The co working places sound cool. If you stay in one place for extended priods (even if it only is a week) it does become a lot easier if you plan your connections. But as I know you know, you can never just assume you will have connectivity.

I am probably in a lot of the same areas as your trip to the west now. I am out west currently, and while I am not “mountaineering” most of the trip is hiking and camping out.

Anyway I am interested in hearing how mexico city and south america goes for you. I have enjoyed my -short- visits to the area…but it sounds like you are going on a real adventure!

Reply

Johnny Bravo

Hi Steve, congrats on a great month.

I’m really interested to see how your Kindle Book a month project works out. I can see a lot of opportunity in that so I’ll be excited to see your progress.

~Johnny Bravo

Reply

Steve

Thanks Johnny,

I am quite excited by it myself. The numbers are still small…but like i said, I see an incredible opportunity for growth.

Reply

Ralph@Retirement Lifestyle

Steve,
You always do a fine job in providing helpful information. Knowing what kind of income you receive from the various streams is so helpful in assessing priorities.

Reply

Gary

Great work on a diversity of income sources. I’m interested to know about what apps you developed. Are you able to share this info?

Thanks
Gary

Reply

Steve Scott

Sure thing Gary. While I haven’t *formally* told people about it, here are the links to my first two apps:

http://itunes.apple.com/us/app/funny-sound-effects-library/id547095849
http://itunes.apple.com/us/app/siren-sound-effects-maker/id546678018

They’re very basic entertainment apps and designed to help me understand the whole development process. Let me know what you think!

Reply

Steve

Thanks Ralph,

Glad it is helpful. Hopefully it will be even more diversified as time goes on! :) and maybe spark some ideas for you all! Have a great week!

Steve

Reply

Rob Cubbon

Another great month. I really appreciate these, Steve. :)

Reply

Andrew Aidulis

Hi Steve great post I truly like how you reveal your real earnings no mock up screen shots of $539497.95 from click bank acounts etc . Im still on the ground floor of IM I have a couple of websites up i have also been promoting affiliate products with ppc so far I have spent about $800 on advertising probably about the same on cick bank products and WSOs . So far my earnings are two checks one for $83 and one for $52 from click bank both of which i will just frame as I cant cash them here lol But I am still trying …

Reply

Steve Scott

Thanks Andrew,

I am glad it is a little bit inspirational. Sorry to hear that your PPC stuff doesn’t seem to be working out that well. That si part of the reason I am not really a fan of PPC. I am sure ‘some’ people can make it work, but I have never been able to get the money I put into it to get much of a return.

But good luck with your biz Andrew, I am sure it will get better

Reply

Thomas @ Mobile App Tycoon

Congrats on another great month, Steve! Super excited about hearing more about your app development experiences! You’re absolutely right though – it does take awhile to go from idea to finished app. I started my app, SharePrayer in early April and didn’t launch until early July so we both took around 3 months. I’m sure as we develop more apps though it will get quicker.

Thomas

Reply

Steve Scott

Thanks Thomas,

I am sure it does get a little bit quicker and easier with time. Nice to hear that it is not only me taking a 3 month turn around

Reply

Tim Bonner

Hey Steve

Another great month for you. It’s great that you can go on vacation for a while and not worry about things too much as you can automate a lot of stuff.

I’m concentrating on building a list at the moment in internet marketing. It’s slow going but gaining ground. I’m just starting an ebook as well. Either to sell or as a giveaway on my website. We’ll see how the writing goes first!

Thank you for sharing your income with us and how it is broken down. It’s very inspiring!

Hope you’re having a great vacation.

Tim

Reply

Steve Scott

Thanks Tim.

I was excited to see that you said you are working on the ebook and list building. I personally think getting started on those two actions are the most important things anyone can do i affiliate marketing.

And yes, I am having a great vacation, thanks for the well wishes. have a great week!

Steve

Reply

Curtis Dilworth

First time poster here. Great job on your income report and I especially liked the lessons learned. As the internet market life style continues to expand I hope internet connectivity attempts to keep pace!

Enjoy the rest of your vacation!

Reply

Steve Scott

Thanks Curtis,

I appreciate your comment, and i hope you are not shy ab out stopping by and saying hi again!

Reply

Justin Cooke

Congrats, Steve…another strong month!

I’m really interested to follow your progress with the Kindle books. It’s not something we’re currently working on but I definitely see something there and I’ve seen others with modest success in that space recently.

I (respectfully) disagree with you regarding mobility and “quality” work, though. It’s not for everyone, but there are those that head down this path and are able to produce some really quality content, make excellent connections, etc. (That being said…I’m definitely a “home base” guy. I love traveling around SE Asia, but have made Davao my home, heh)

I hear you about app development. We considered it as we thought it would be a fun side project to work on, but the fact that it seems so completely unpredictable and risky made it much less interesting to us. Of course, there are some amazing success stories…but the risk/reward seems pretty high on both sides of the coin.

Reply

Steve Scott

I do see your point on mobility. I would say that it depends upon degree of mobility and time that you spend in a place. I went on a tour of europe for about 8 months where I would stay for “fairly” extended periods of time and I was able to be relatively productive with quality… but I think there are a lot of variables and you can’t assume that it will always be possible to do really quality work.

As for app development. It is risky…no doubt. I have some faith…but I have to admit i do have some of the same fears as you. I think many failures are failures of marketing..ot necessarily design…so I have a lot of hopes… But I have to admit it is something of an experiment..hopefully one that ends up being a good one..but it is always hard to tell.

Anyhow, thanks for offering up some great counter opinions. It is always welcome! :)

Reply

Geoff

Hey Steve, I’m very interested to see how you do with your mobile apps!

Have you ever tried to create your own premium WordPress plugin? I ask because I’m strongly considering doing one myself at the moment and trying to find a few role models to study who’ve been there and done that so I can avoid the pitfalls.

Reply

Steve Scott

Hey Geoff,

Glad to hear you’re interested in the apps stuff. It’s an area where I’m learning lots!

I don’t have any experience with WordPress plugins. I’ve heard that it’s a nightmare with handling multiple themes/WP editions. So you’re basically tethered to doing support. Doesn’t sound very fun to me.

Reply

Jens P. Berget

That’s awesome Steve. You’re doing an amazing job, and I really enjoying your income reports and how you’re explaining them in details. This is helping me a lot (and I’m sure it helps a lot of other people as well).

I can relate to what you’re saying about poor internet when you’re traveling. Last year I was in Italy for 14 days, and I hardly had access to internet at all. I used my Kindle to communicate via Twitter, that was it. And every summer I’m camping, and it’s hard to find a place to write and get connected the internet. But, it’s getting better each year, it’s all about the planning :)

I am very intersted in learning more about your process of writing and publishing books on Kindle (I have just published my first one), and your mobile app. I’ll probably not create a mobile app myself, but I’ll probably buy yours :)

Reply

Steve Scott

Yeah, it’s not easy to fun a business when you’re never sure how you’ll access the Internet on a daily basis.

I’m definitely going to talk more about Kindle publishing. I’ve learned a lot lately that should make a great blog post. Stay tuned…

Reply

Chris

Hi Steve,
thanks for your detailed report – it’s very helpful. As some of commentators wrote – mobile apps are too risky. And (IMHO) 1k $ is not enough for creating great and successful app.
BR, Chris

Reply

Steve Scott

Yes Chris. You’re right that mobile apps is a bit risky now. I’m still not convinced it’s the right direction for my business…but only time will tell for now.

I do disagree with the $1k comment. The trick is to find what people want and get out a stripped down version that’s given away for free. You can monetize it through quality networks (like RevMob) that can be reinvested back into the apps to scale them up and make them better.

Reply

Samuel

Hey Steve,

I’m with you on diversifing your income. I had a nice five figure montly income from software I built 4 yrs ago. I got really comfortable and didn’t diversify my income. The software became obsolete and the sales tanked. Afterwards it was like starting all over but I tell you it was the best lesson I could have ever learned with making money online.

Wanted to ask you how you were promoting your Kindle ebooks. I created one a few months ago but have only seen 1-2 sales. Are you letting Amazon promote internally for you or are you doing some of the other IM things to build awareness and promote it? I appreciate any feedback you can share!

Reply

Steve Scott

Samuel,

I know the pain of seeing an income stream become obsolete. VERY painful!

Right now, I’m relying on internal Amazon traffic. But I’m experimenting with a Kindle Launch strategy which will be done for my 3rd book. Once I figure that out, I’ll post a description here on my blog.

Reply

Md Firdosh

i am surprised that u earn $ 3142.18 from click bank . How you earned this huge amount from click bank

Reply

Steve Scott

Here is a page that best describes how this is done:

http://www.stevescottsite.com/affiliate-marketing-strategies

Reply

Tim Hague

Wow Steve thank you for your transparency. I have yet to earn my first dollar but I feel like this kind of post helps me press on and not lose sight of the possibilities ahead of me. It’s great to see that you are diversifying and the Kindle publishing does seem to be a great fit for an excellent writer like yourself. Best of luck and I hope to run into you down the shore sometime…
Tim Hague (Freehold)

P.S. a friend of mine showed me how to set up a simple netbook to run Apple’s dev environment without the huge hardware outlay…google “hackintoish”…

Reply

Steve Scott

Thanks Tim! (Got your follow-up message by the way)

Glad to see they’re inspirational. The one thing I’d say is a LOT of work went into all these income streams. So it’s definitely not an overnight success.

Thanks for the info…I’ll have to look into that link.

Reply

george

Amazing report. Its great and very inspiring to see your report and I can’t agree more on the usefulness of building a list. Can I kmow your traffic levels too?

Reply

Steve Scott

Traffic levels for my blog? Or my affiliate site?

Reply

rksistu

It’s actually a cool and helpful piece of info. I’m glad that you shared this useful info with us. Please keep us up to date like this. Thanks for sharing.

Reply

Taswir Haider

So cool bro, your details is inspiring! Moreover the point to point details will help me to re-organize my strategy. Thanks a lot.

Reply

Derek

Steve, those are pretty impressive numbers. Ive heard alot about Amazon and how lucrative that market is. My brother-in-law has been doing apps specifically for the iPhone and is killing it with just ‘ads’. His 12 apps are all free and yet he’s making $3k or more a month from it.

Are you doing much with your apps?

Reply

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