My June 2014 Income Report

July 18, 2014 in Income Reports

Monthly Income ReportWelcome to my June 2014 passive income report. There is not too much to share on this income report except that I have been busy reskinning another iPhone app. This new app is based off of the popular Mustache Bash source code by Austin Church. I bought this code about 4-5 months ago and finally decided I was going to make a photo app as my next project. This will be my 5th app reskin and it is definitely NOT a source code that a beginner should start with.

I looked at the images that needed changing in this app and realized that there are a TON of them! The task seemed overwhelming contrary to the fact that most app source code sellers say changing the images is easy. For me, I like to change the entire look of the app which makes my job a lot more time consuming. Most of the time, I don’t want my apps to look anything like the original. But all my years in video production has made me proficient in Photoshop and I can create my own graphics pretty quickly.

Hiring A Graphic Designer Is Too Expensive For Me Right Now

A few months ago, I contacted a graphic designer to see how much it would cost to have his team create all the graphics. The bid I got was $300 for the interface graphics and $400 for the changing all the mustache images. That comes out to a total of $700 just for graphics! I’m not making much money from apps so I’m not ready to pay that amount at this time. After all, I already spent $400 on this source code so I would have $1100 in expenses before I even get the app into the App Store.

So I’m currently in the middle of making all the graphics for this new app and it’s taking all my free time in June to do it. However, I do find the process fun because I love Photoshop. The app should be released in July so I’m excited for that! I still have a bunch of other source codes I’ve purchased that I haven’t touched yet. Eventually I’ll get to reskinning them.

I am also reskinning another app at the same time too! I bought a Bingo source code this month and have finished the graphics on this one. The last thing I have to do is testing. So now that I look back at June, I have been quite busy reskinning these 2 apps.

That’s all I have for this month. Here’s the Income Report.

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My June 2013 Income Report

July 9, 2013 in Goals, Income Reports

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. Read the rest of this entry →