[Dumb] Passive Income Report for March 2014

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Passive Income Report March 2014Welcome to my [Dumb] Passive Income Report! This blog is all about what I am doing to create several different passive income streams. This monthly income report details my results. I work very hard and dedicate many hours each week to working on my different online endeavors in an attempt to create passive income. So why do I consider it passive income then? Because I am not trading specified amounts of time for a predetermined amount of money like I do at my day job. Most of the income you will see in this report results from work I have done in the past. Why am I sharing my income publicly? Hopefully to gain credibility with you (the readers) and to maintain a certain degree of accountability for myself. I could blog all day long about what I am doing to create passive income online, including some of my unique strategies. But why would anybody trust me and believe that what I am doing works if I don’t prove it by sharing my results? This is what I mean by gaining credibility and this is one of the main purposes for sharing my income. I also share my failures on the blog, which holds me accountable. Knowing that I will be publishing a monthly income report will keep me motivated to keep pushing forward and plugging away on the things I need to do to create future passive income.

Happenings in March

Niche Sites

The most exciting happening in March was the continued success of one of my Adsense sites. As you’ll see in the numbers below, I earned a little over $800 in Adsense during the month of March, with over 95% of that income coming from my one superstar site. And it’s not a fluke! That site is on track to do quite a bit better during the month of April. Towards the end of March, I published a detailed post about exactly what I did to increase the Adsense income on that site, which was originally intended to be just a very small niche site. The post went a little long, and I still had more to say – so I called it Part 1 and wrote To be continued… at the bottom. The next post I write and publish on the blog will be Part 2 for that.

Since Google is obviously looking favorably upon this Adsense site, I decided to grow it even more. I put my other sites on hold and decided to add a ton more content to this site. It just so happens that the niche has some specific differences for each of the 50 states in the US, so I’m having my writer produce 50 separate articles for each and every state. I’m planning to use Pat Flynn’s Create a Clickable Map to do just that, which will provide a pretty sweet resource on this niche site. What started out as just a micro niche site with only 4 articles is quickly turning out to be an ultimate resource for the niche.

Keyword Research Packages

My keyword research sales have remained steady. You’ll notice in my expenses that I paid a pretty good chunk of change to my virtual contractor who is helping me find keywords. Without the help, I would not have the time or be able to find so many of these keywords and get nearly as many of these packages ready to sell. My contractor is literally doing half of the work, so I pay him well for it. I still bring in decent money from the venture, but only have to dedicate half of the time that I did when I was doing it all by myself. This frees up time for me to continue to grow the passive income streams that I am working on, which is my overall focus.

Reinvesting Profits

I’ve been using the proceeds from my keyword research sales to test different link building services. So far, I’m getting pretty good results! Without going into very much detail here (I’ll save that for an entire post – coming soon), I’ll just share with you the 3 services that I’ve tried and have been impressed with so far.

Other than paying for powerful links and using done-for-you services for link building, I am also actively working on hiring VA’s to help me with other areas of my internet business. This is something I’ve known would be necessary in order to grow my business and my income, and also something I’ve been wanting to do for quite awhile. Previously, my income levels were not at a point where I felt comfortable hiring somebody on a long term basis. My income levels are up, so I am taking the plunge – with a special thanks to the guys in my mastermind group who all but forced me to do so.

Finding, hiring and training VA’s via Odesk can be a little intimidating at first. I’ve found that you just need to jump in and DO IT. You’re going to make mistakes. I know I am. But that is the best way to learn. Fortunately for me (and you), a fantastic book just came out that speaks directly to my situation. Chris Ducker hit the podcast circuit hard during the week that his book launched. He was on almost literally every single internet marketing podcast that I listen to. And I told him so via Twitter…

I’m digging in to the content of the book and am loving what I am reading so far. Chris’s book is pretty much a bible for how to utilize virtual staff to create freedom in your life. He couldn’t have published it at a better time for me – as I am just starting my journey to hiring virtual assistants to free up time and help grow my business. Check out Chris’s book, Virtual Freedom and pick up your copy today. <— (cool text link, huh? I did that with EasyAzon Pro)

Website Services?

One other happening in March that I wanted to point out. I created a simple business website for a former co-worker of mine. Many of my family and friends are starting to get the word about what I do online. But most people don’t really understand the types of websites that I build (niche websites and blogs). I got to talking with this former co-worker one day and he expressed his possible need for a website for his side gig. I explained that this wasn’t typically the type of site that I build, but I would see if I could help him out. I spent 4 or 5 hours one Saturday afternoon and came up with this for him – http://grmobilewelding.com.

He paid me $100 plus did a welding job for me that he would normally charge $60 for. I know I probably WAY undercharged for this type of service. But it was my first time creating this type of site, plus I was just helping out a friend. This has really got me thinking though about how I could turn this into another branch of my business to create passive income. What if I created simple sites like this for small businesses and charged a recurring monthly fee to keep them maintained and up to date? Hmmmm…..

And now – what we’ve all been waiting for. My income breakdown for March!

Income and Expenses – March 2014

Passive Income

Affiliate Income from Dumb Passive Income

Other Passive Income from Niche Sites, etc…

  • $819.26 – Google Adsense (ad click revenue from niche sites)
  • $2.14 – Yahoo! Voices for articles I wrote a long time ago
  • $11.47 – Amazon Associates for sales on Amazon.com (explained in detail here)

Non-Passive Income

Services by Matthew Allen

Expenses

Hosting and Domains

Tools, Plugins and Themes

Outsourcing

  • $222.00 – to my private writer for article writing for niche sites
  • $34.87 – to oDesk for virtual assistant(s)
  • $490 – to a virtual contractor who is helping me find keywords for my keyword research service
  • $0 – to The HOTH for a link building package (planning to use again)
  • $0 – to Link Viking for a link building package (not an affiliate link – mention Dumb Passive Income as your referral source at checkout)
  • $75 – to LightningRank for a monthly link building package (very happy with results after the first month, planning to stick with it)

Miscellaneous

  • $42.49 – Paypal fees

Totals and Thoughts

Total income $2485.15 minus total expenses $1200.12 equals a net profit of $1285.03 for March 2014!

Passive Income and Expenses March 2014

I am loving the trajectory of my overall income! I admit, I sometimes wonder how long I can continue the uphill trend. It seems inevitable that I will one day see a dip, but I’ll take the growth for now and keep enjoying it for sure!

Note: My expenses have increased drastically over the past couple of months.  This is mainly due to the fact that I continue to reinvest much of my profits in order to grow my future passive income streams. Most of my expenses each month do not directly correlate to the amount of income that I brought in. This is what passive income is all about – working hard and spending money now in order to create streams of income for later that will last.

One other Note: One improvement I made to this blog recently. If you click the Income Reports menu item at the top of my page, it now leads to a really nice page with a table (my very first TablePress creation) which displays ALL of my income reports from the very beginning. You can easily take a look at my numbers and how they have progressed over time – plus, there is a link to each specific report right there in the table.

Thank You! Thank You for taking the time to read through my latest income report and Thank You for contributing  if you have previously purchased something through one of my affiliate links! If you wish to support this site, but don’t have a need for any of my affiliate products, you could simply do your regular Amazon shopping through any of the links on this site that lead to Amazon.com. You won’t pay any extra and I will receive a small commission. Thanks so much if you do so!

Many of the links within this income report are indeed affiliate links. I will receive a commission if you choose to purchase after clicking through via any of these links. Thank You if you do! To your success and mine – may we all be profitable online. Good Day!

Remember that there are several dumb ways to create passive income online, but only one site that is blogging about it! Dumb Passive Income… dot com.

-Matt

Photo Credits:

cohdra via MorgueFile