March 12, 2014 in Income Reports
I can’t believe February is over already! Time is flying! I’ve been busy lately and haven’t had much time to post here on my site. It seems like lately, I’m only posting income reports each month. That’s because I’m spending most of my time creating graphics for my apps. It consumes a large amount of time and I hope to be able to outsource this in the future in order to work on multiple apps at one time.
I decided to take all my books off sale on NookPress. I just wasn’t getting any sales over there so I removed my books from their marketplace. I was going to wait a few weeks before I re-enrolled those books back into Amazon’s KDP Select program. I want to make sure that they are completely out of the system before adding them back into KDP Select. The reason is that while a book is in KDP Select, it can’t be sold anywhere else.
A New Opportunity Arises
I was recently contacted by a podcaster in the app development community about a business opportunity. I won’t talk about it right now but I’m already in the process of setting up some items for sale on his site. The great thing is that the products and all the sales copy and graphics are mostly done so it’s not taking me much time to get them ready. I had these assets set up for sale in a different marketplace but failed to get approval. Now I’ve got a second chance with an audience that is more tailored to the app industry.
The Importance of Diversifying Your Assets
Book sales were great the past 2 months but when February hit, I could tell instantly that sales weren’t growing as fast. However, because my portfolio is pretty diversified, I had other sales channels pick up the slack to make this my best month on record! What I’m trying to say is while it’s great to focus on one thing that works, there are going to be ups and downs and you don’t want to be tied to the fluctuations of just one stream of income. Don’t be afraid to try other methods!
I had tried many things in the past and this month, I realized that they just didn’t pan out. As mentioned above, I am getting out of NookPress but I’m also going to get out of Commission Junction too. I know they’ve worked for other people but not me for some reason. Even though I have things that work, I will continue to diversify my income by experimenting more and trying new things online.
One of the new items I added to my income report is the Rakuten-Linkshare network. They are now the new affiliate program for Udemy. I’ve been making efforts to promote more courses from Udemy and it seems to be working out nicely. Their courses are usually sold at respectable prices and the commissions are good.
I don’t have much else to report this time so let’s get into the numbers for February.