My May 2013 Income Report

June 14, 2013 in Goals, Income Reports

Welcome to my May 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 progressing (or regressing) over time.

May was another great month! I fell a little below my earnings from April but not much. I’m still working on my goal of reaching $1000/month (or $35/day) by the end of the year. We’re at mid-year and I’m about 1/2 way to my 2013 income goal. I know I need to continue to work harder and keep adding new assets to my online portfolio if I want to continue to grow my business.

In May, I published a new book and finally monetized my YouTube channels. Let’s take a look at the earnings numbers to see how things panned out!

Kindle Publishing

I did manage to publish a new Kindle book in May. This book was originally written by a ghost writer I hired on Elance.com way back in February. However, when I received the book, it wasn’t exactly what I wanted. I know part of it is my fault. The writer did exactly what I asked. I guess I should’ve been a little more detailed on my instructions or did my research better. So after letting the book sit idle for a few months on my computer, I finally decided to make my own edits which involved me writing new parts of the book and taking all custom photos myself. Here’s how Kindle sales went in May.

  • Total: $111.57
    • Last Month: $109.29
    • Difference (+$2.28)

The difference in earnings from the previous month was about the royalties from one book. I’ve only sold 2 copies of the new book I published and that happened in the first 2 days it was available on Amazon. There have been no sales of this book since then. I haven’t started marketing the book yet but I will be using the resources on this page when I use my KDP Select free promotion days. Hopefully most of the sites listed on that page are still accepting free book listings.

Amazon Associates

Amazon Associates earnings continue to be on full autopilot mode. I haven’t done any more promotions for Amazon products on my site but I still manage to make a little bit from them.

  • Total: $18.30
    • Last Month: $28.11
    • Difference: (-$9.81)

My Amazon earnings took a dip but I haven’t made any effort to grow this part of my business. Promoting Amazon products isn’t really a priority for me but I like how it adds a little every month.

Clickbank

Nothing happening with Clickbank sales this month. I almost forgot about it until I started writing this income report.

  • Total: $0.00
    • Last Month: $0.00
    • Difference: ($0.00)

I’m not surprised about having zero sales this month as this is the norm. I’m probably going to retire my Clickbank product and convert my remaining product into a course on Udemy. I had already converted another course to Udemy and has been on sale on Udemy for a couple of months now.

Banner Ads

My Adsense earnings are up a little bit. This continues to be a decent passive income stream for me. 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: $93.64
    • Last Month: $83.95
    • Difference: (+$9.69)
  • YouTube: $14.56
    • Last Month: $N/A
    • Difference: (+$14.56)

The major thing I did with Adsense in May was to monetize my YouTube channels. It is required to have an Adsense account before monetizing YouTube videos. I should’ve done this a long time ago. I have videos that get a few thousand views to over 100,000 views. With my channels monetized, I’m going to start making more product review videos. I find that I really enjoy making these review videos and they’re easy to do. Here’s an example of one of my review videos that currently has 103,000 views.

 

It’s also interesting that I just noticed that there is an “Official” graphic associated with that particular video. I didn’t do anything to make it official but I will investigate on how I got that designation from YouTube and what it means. See below.

My Most Viewed YouTube Video

I just got done shooting a review for an electric lawn mower I just bought. I watched a few video reviews on the mower I just got and the videos were really bad. So I knew I was going to shoot this review when I bought my mower. For the past 2 years, I’ve shot reviews of most gadgets I’ve bought.

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 that unless the product I’m promoting switches back to their in-house affiliate program. At this point, I’m unsure of the future of this site which is in the wedding niche. If you look at my earnings from GAN, I might as well not even have this site.

  • Total: $0.00
    • Last month: $42.00
    • Difference: (-$42.00)

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) can be taken away in an instant!

Createspace Publishing

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. My plan going forward is to offer both print and Kindle versions of all my books. This means I need to write longer books so that the print versions will have a decent number of pages to them.

  • Total: $200.39
    • Last Month: $234.64
    • Difference: (-$34.25)

May sales was down a bit but it’s still one of the best assets in my portfolio. The Kindle book I just published and mentioned earlier in this report has also been converted to a Createspace print book. So far, no sales yet. As mentioned before, I need to do my KDP Select free promotion to get this book noticed.

For this book, I successfully incorporated page numbers into the book. I didn’t know how to do that with my first 3 print books. Incorporating page numbers may seem like an easy thing to do until you try to do it. However, I figured out a process and can do it pretty fast and efficiently now with my PDF files. Here’s a post and video on how to do it. The video is longer than I expected but once I got the hang of it, I can put page numbers in my book in less than 30 seconds.

Nook Press

Back in April, I added a new income stream to my publishing portfolio 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: $2.59
    • Difference: (-$2.59)

I still plan on giving Nook Press a good run through with all my books. Currently, I’m waiting for KDP Select to expire on 2 books before I can add them to the B&N marketplace. If Nook Press is a flop, I will take all my books off of Barnes & Noble and stick with Amazon.

Udemy

Udemy has also been a slow mover for me. My first course is called How to Create Bestselling Kindle Ebook Covers and still has less than 30 subscribers.  A couple of 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. However, after all this time, I’ve only sold one with a 50% off coupon. Even one sale at 50% off of a $97 product is good in my book!

  • Total: $62.95
    • Last Month: $29.80
    • Difference: (+33.15)

It’s also worth noting that I’m not selling any of my courses at full price. Customers are either using my coupons or universal coupons that Udemy promotes through their email list. I receive a smaller royalty when Udemy helps initiate a sale with their coupons.

Summary

Here’s a snapshot of my totals for May for easy reference.

  • Kindle Publishing: $111.57
  • Amazon Associates: $18.30
  • Clickbank: $0.00
  • Banner Ads: $93.64
  • YouTube: $14.56
  • Google Affiliate Network: $0.00
  • Createspace: $200.39
  • Nook Press: $0.00
  • Udemy: $62.95

Total this month: $501.41

  • Last month total: $530.38
  • Difference: (-$28.97)

Total earnings per day: $16.18

  • Last month earnings per day: $17.68
  • Difference: (-$1.50)

This was not as good as the previous month but I’m still half-way to my goal for 2013! A few more changes are in store for next month. I need to increase about $100/month if I want to reach my goal of $1000/month.

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 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:

COUPON24

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.

Bestselling-Kindle-Ebook-Covers

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!