This is my first income report. I will be posting these once a month so both you and I can track my progress and see what is working and what isn’t. I will be breaking down my income, where it came from, how I did it, etc. I will also give a summary of what I’ve done during this month and what my plans are for the following month.
So lets get started, but before we do you should be entering your email below:
Launched my first WSO
After being on the Warrior Forum, I guess for about 6 years now I finally released my first offline WSO. I didn’t really know what to expect from it but I think I delivered great value. I figured if I was going to make a more passive income or at least less demanding income I might as well get started in an area I know a lot about, which is running a web design and/or SEO company. That led me to the creation of “How to Start Your Own Web Agency”.
Making the book actually took more time than expected. I kept writing and writing and I still feel I could have put more into it but it’s actually too long. Some people have said I could have split the information into 5 different WSOs but my goal is to not just create additional income but to also help other people so I wouldn’t feel right about that. It’s better to over deliver.
I must give Rus Sells and Bob Ross a shout out because they both have helped a lot in the formatting and presentation of the WSO. I’m extremely thankful for their advice, feedback and willingness to help.
I really enjoyed the process. I’m kind of surprised by that but I loved putting all the information together, releasing it, and seeing how it’s changed people. So far a few people have reached out to me thanking me for putting this out and that it has changed their lives. That’s huge to me. It has me thinking about putting out additional products as well.
It didn’t go exactly as planned. I’ve had issues with PayPal for years now. This time, I setup a PayPal for the WSO in a different business name and everything was fine then they shut down the account for being tied to a past account. I won’t get in to all that right now, but long story short, I was without a payment processor for the WSO.
Finally, after searching around I came across Gumroad. I thought about using Stripe at first but had problems finding a decent file delivery software that integrated into the Stripe Payments and didn’t want to code my own through their API so I looked for other alternatives. Gumroad seemed to be the perfect fit for exactly what I needed.
Awesome thing about Gumroad, is that it actually increased my conversions. There’s this thing called shopping cart abandonment, and with the stats I had before PayPal shut me down I had a pretty high abandonment rate. With Gumroad my abandonment rate was cut in half, meaning more conversions and more money.
PayPal ended up reactivating my account and lifting the hold, but I’m going to continue processing with Gumroad.
Bad thing about Gumroad, is that they only pay every 2 weeks. They make an electronic deposit straight to my bank account, minus their fees which is 5%. It’s a bit more than PayPal but I really like their system, statistics and how easy it is to launch a product.
Launched This Website… Kinda
Another thing I did in December, really towards the end of December was launching this website, kinda. It’s not fully launched. In fact, nobody even knows this exists yet. There’s still things I need to do, but I figure why wait for things to be perfect, why not just get it going right now and make adjustments as we go?
General Patton once said, “A good plan violently executed now is better than a perfect plan executed next week.”
I believe that is true, and when I have followed that line of thinking it has always been worth it. In my main business, I often try to make things perfect, but when I’ve been forced to do something that wasn’t perfect and get it done faster it’s been extremely beneficial.
Action is always better than inaction.
I will be adding a few more things, maybe populate the sidebar with an ad for my WSO. I have a logo being designed, I’m going to have some modifications made to this theme, but for the most part I like how simple it is.
Okay… here it is December 2014 Revenue
Total Income – $3,528.10
How To Start a Web Agency WSO – $3,510
130 eBooks sold
Affiliate Income – $18.10
List Subscribers – 69
Most people would think this is a pretty good start and I guess I would agree but the problem I have with this is that it’s not going to sustain itself.
Plans for January
As I said above, I need to figure out how to continue bringing in additional income. I will not repeat the same amount of income from book sales in January, in fact, I don’t think I will even break $1,000 if I continue letting things run how they are right now.
I think it would be stupid to just stop trying to sell the book and start working on another product. Since I have no affiliates I’m accountable for all the promotion which really is just bumping the WSO and hoping people click links in my signature.
I suppose once I start promoting this website as well, I may be able to get a few extra buyers from sidebar ads for the WSO.
Another option I have which I will be implementing and hopefully launch this month at some point is a website for the WSO. Doing this will allow me to use inbound practices and content marketing to bring in sales long term. I don’t expect a large amount and I probably will never come close to the $3,510 that I did in December but setting this up will allow me to be able to make money off this book long term with no additional work.
Also, I have thought about raising the price from $27 to $37 and maybe even $47. I think I may play around with that this month or maybe next month.
Goals for January:
- Make further changes here on Income Bully
- Launch the niche site for my WSO to lengthen sales
- Increase my subscriber list
- Create Autoresponder Series for Niche Site
- Create Autoresponder Series for Income Bully
Very basic goals and should be easily attainable. I’d like to increase my subscriber list to hit at least 100. I also need to start thinking about other ways to bring in additional income.
December I think was beginner’s luck. January is going to be tough to even break $1,000
That about wraps it up for this month.
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