Welcome to my June 2013 income report! This is where I report how much I earn each month through my various online projects. I post my income reports here to keep track of my progress so I can look back and see how I’m doing on the goals I’ve set for myself this year.
A Record Breaking Month!
June was a spectacular month! In fact, I hit another record and I’m well under way to my to reaching my goal of generating $1000/month (or $35/day) of passive income by the end of the year. I knew that June started out pretty strong but didn’t know I was going to beat my previous record set back in April by so much! How did I do this? Every month, I try to build at least one online asset that will add passive income to my business in the future. So in June, I launched a new niche website and produced 2 new product review videos on YouTube. Since I monetized my YouTube channels, I’m making more of an effort to create video reviews of any gadget I can get my hands on. For me, this is an easy way to generate a little extra income from relatively little work.
Also, back in May, I published a new Kindle book that literally had no sales. I spent $320 to have this book written by a ghost writer and was worried that I had wasted money creating a book that seemed like no one wanted to buy. I waited about a month and a half before I ran my free promotion through KDP Select. Partly, I wanted to see how the book would do without any promotion. I was expecting at least some sales but in reality, no one was buying the book. Finally, I ran a 2 day free giveaway and used the promotion method I wrote about in this post.
After having the book available free for 2 days, it generated 5943 downloads. Subsequenly, in the 11 days that were left in June after the giveaway, this title generated sales of 23 copies and 2 borrows in the Kindle store. This book is also available as a physical print book and also had no sales before the promotion. After running the free promotion, I was able to sell 5 copies of the print version. Remember, I had no sales before the promotion. I am a believer of using free promotions to kickstart book sales. Now, I’m not worried about covering the costs of hiring the ghost writer because in time, the book will pay for itself. I also received four 5 star reviews for this book… and these weren’t from friends or family!
I priced my book at $3.99 for Kindle version and $11.99 for the print version. That’s quite a difference in cover price but the royalties I receive for each copy sold of the print or Kindle version are roughly the same.
Those were the highlights of the month. I’m sure you’re ready to see the record breaking numbers so let’s get down to the details and income report.
- Total: $249.50
- Last Month: $111.57
- Difference (+$137.93)
A very successful month with Kindle publishing. I more than doubled the amount I made from the previous month. My new book contributed to the increase but it only made up a small percentage of total sales. As I continue to publish additional books, I’m confident that my monthly Kindle income will grow over time. I’m currently researching about 6 topics for the next few books I’m going to publish this year.
- Total: $7.62
- Last Month: $18.30
- Difference: (-$10.68)
For a long time, I haven’t done anything to improve my Amazon Associates earnings. June was an exception. I actually built a new niche site that is solely monetized by Amazon.com. I’m definitely not an SEO expert but over the years, I’ve had lots of experiments trying to rank sites. Most of them were failures. This new niche site is a bit different because I know I picked a good keyword this time with low competition. In fact, the site is now ranking at number 20 on Google. It’s still a work in progress but the rankings are encouraging. I need to add more pages to the site and I may hire someone to write the content and reviews for this site.
Even though my Amazon Associates account is lower this month, I’m confident that this new niche site will help me get closer to achieving my income goals for this year.
Nothing happening with Clickbank this month. At this point I have no plans to pursue additional income from Clickbank.
- Total: $0.00
- Last Month: $0.00
- Difference: ($0.00)
I’m way more successful at other things in my business which means I will probably be eliminating Clickbank from my portfolio. I’m not surprised about having zero sales this month as this is the norm.
I’ve been hovering just below $100 with my Adsense earnings every month. But this month, I actually broke the $100 barrier. This continues to be a decent income stream for me because I don’t have to do anything to earn it. At this point, it’s not going to make me rich but I do want to grow this part of my business. I’m happy just to maintain this level for now as I work on other projects.
- Sites: $110.94
- Last Month: $93.64
- Difference: (+$17.30)
- YouTube: $49.10
- Last Month: $14.56
- Difference: (+$34.54)
Want to learn how to monetize multiple YouTube channels with only one Adsense account? Here’s a post I wrote that explains the process in detail.
Google Affiliate Network
The Google Affiliate Network (GAN) is going to be retired and go into non-existence at the end of July. That means that my site monetized by GAN will no longer have the ability to make money after July. I’ve contacted the owners of the product I’m promoting but they didn’t give me a definitive answer as to what they’re going to do when the Google Affiliate Network goes away. Hopefully I’ll have answers soon.
- Total: $0.00
- Last month: $0.00
- Difference: (-$0.00)
Seeing zero earnings is quite disappointing but in this business, things are always changing. I’ve heard this over and over again, you NEED to diversify! We can clearly see here that the Google Affiliate Network (or any affiliate program or income source) can be taken away in an instant!
Createspace has become my all-time best performer so far! Everyone keeps talking about making money with Kindle books but my results show that customers still want print books. I plan to offer both print and Kindle versions of all my books as long as I continue self-publishing.
- Total: $229.50
- Last Month: $200.39
- Difference: (+$29.11)
I beat my sales numbers from the previous month and part of that is due to the new book I published. I’ve said it before but I know that publishing through Createspace is one of the best things I’ve experimented with so far. If I were only publishing on Kindle, I’d be losing out on $200 on print sales. The thing about publishing on Createspace is that it doesn’t take that much more work to convert a Kindle book to a print book.
Back in April, I tried out the publishing platform from Barnes & Noble. B&N recently revamped their PubIt! platform and renamed it Nook Press. It’s an ebook publishing platform similar to Amazon’s KDP. As of now, I don’t have a good method of promoting my Nook books like I do with my Kindle books. As a result, I didn’t sell any Nook books.
- Total: $0.00
- Last Month: $0.00
- Difference: ($0.00)
Nook sales was non-existent! In fact, I had 2 Kindle books I took off of Amazon’s KDP Select so I could sell them on Nook Press. I re-enrolled one of the books back on KDP Select because I think I’ll have better luck with borrows on the Kindle than I’ll have with sales on Nook Press. In case you didn’t know, each borrow on the Kindle store generates royalties like a regular sale.
My first Nook book is still on sale at B&N but I might be removing it so I can also re-enroll that title on KDP Select too. I plan on giving Nook Press a chance that it’s a good place to publish books but it’ll probably be after I research marketing tactics for B&N.
Udemy is something I continue to experiment with. Sales was better this month than in the past. My first course is called How to Create Bestselling Kindle Ebook Covers and it doesn’t have a lot of subscribers but I do plan on making an update to it in the next month or two to make it more attractive to prospective students. A few months ago, I launched a second Udemy course that is priced at $97 and gave some away for free with coupons to promote the course. In June, someone actually bought this course at full price. I’d love to have more of these types of sales. However, I believe it’s hard to do because Udemy offers so many coupons to entice people to buy courses at a discount. When someone uses one of Udemy’s codes, my portion of revenue is much smaller.
- Total: $116.90
- Last Month: $62.95
- Difference: (+53.95)
One thing I might try to encourage more sales of my $97 course is using AdWords advertising. I have some credits with Google and might try placing a few of these ads to see what happens.
Here’s a snapshot of my June totals June for easy reference.
- Kindle Publishing: $249.50
- Amazon Associates: $7.62
- Clickbank: $0.00
- Banner Ads: $110.94
- YouTube: $49.10
- Google Affiliate Network: $0.00
- Createspace: $229.30
- Nook Press: $0.00
- Udemy: $116.90
Total this month: $763.36
- Last month total: $501.41
- Difference: (+$261.95)
Total earnings per day: $25.45
- Last month earnings per day: $16.72
- Difference: (+$8.73)
I’m very happy with the results in this income report. I thought it’d be a long time before I’d surpass $700 in one month. But I think that my goal of completing one new income generating task a month is going to help me to achieve my 2013 goal. We are now officially half-way through the year. I still have a lot of goals to accomplish before December is over.
One of these goals is to develop my first iPhone app. At this time, I’m starting to filter through the app ideas I have written down and search for a developer to make this happen. If you want to see the progress I’ve done so far when it comes to app development, click here.
Are You A Self Publisher?
Have you checked out my course called How to Create Bestselling Kindle Ebook Covers? This is where I teach how to create awesome looking Kindle covers using Photoshop. The best part is that I include templates that are completely customizable. Each template has layers you can easily turn on or off to create totally unique looks. At this time, I’m still offering the course at a discount price, simply use this code:
With this coupon, you’ll be able to get the entire course for only $24! If you do take the course, please leave a review after you’ve had a chance to explore the templates. Or click here to watch the promo video I made in After Effects.
That’s it for now. I never know if my income will be up or down but be sure to come back and get an update next month!