Welcome 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.
Previous Months Passive Income Reports
I started this blog in May, 2012 and shortly thereafter started doing monthly income reports. They didn’t amount to much, but I was doing them for all of the reasons as explained above. Then, in October, I decided to temporarily stop publishing them. I felt that they weren’t contributing very much to my credibility standings because I was barely making enough to cover my monthly expenses each month. September was the last month I published a full report. Here is a summary of my income and expenses for the rest of 2012.
- Income – $19.71
- Expenses – $28.32
- Net – $-8.61
In October I purchased a WordPress plugin called AutoZonBot. I learned about this plugin from an interview that Mike from Maine did with Lina Trivedi, who is the creator of the plugin. Watch the interview to learn the details of the plugin if you wish. I had high hopes for the possibilities with this plugin, and kind of still do. But, those hopes have been put on the back burner while I work on other things. Basically, the plugin curates content from Amazon.com and automatically creates WordPress posts for you that include links to Amazon (with your affiliate code of course). To see an example of what it can do, click on my Products tab above or click here to see my Products page. I created that page as a sub-domain of matt76allen.wpengine.com, set up a simple free blog theme, installed and set up the plugin and then did nothing else. Since last October, the AutoZonBot plugin has automatically created 65 curated posts complete with pictures and descriptions from Amazon and links to click over to Amazon. It creates the posts every couple of days, essentially creating an entire blog that is always updated and totally on autopilot! To date I have made zero Amazon sales as a result of the plugin. It does, however, drive some search traffic back to this site.
- Income – $60.07
- Expenses – $87.27
- Net – $-27.20
In November I purchased a keyword research tool called Long Tail Pro. I will forever look at the purchase of this tool as the catalyst that really kick-started my online business. Not only is keyword research important for finding a niche to build a website around – it is also important for writing blog posts. I wrote in great detail about the importance of using keyword research for blogging. These efforts have resulted in a few affiliate sales already, with more to come in the future!
- Income – $108.03
- Expenses – $32.17
- Net – $75.86
In December my income started to increase a little and I bought one more WordPress plugin. This particular plugin came with Private Label Rights (PLR) and I am allowed to re-brand and re-sell the plugin if I want to. I plan to do this hopefully sometime soon and will reveal it when I do.
Passive Income and Expenses – January 2013
Affiliate Income from Dumb Passive Income
- $2.83 – Amazon Associates for sales on Amazon.com (explained in detail here)
- $20.00 – Carbonite Referral (explained in detail here)
- $20.42 – Long Tail Pro sales via Clickbank
- $48.00 – Lending Club leads via Commission Junction
Affiliate Income from PayOffCreditCard.net
- $140.00 – Discover Card sales
Other Income from Small Sites, etc.
- $9.76 – Google Adsense
- $2.24 – Yahoo! Voices for articles I wrote a long time ago
- $5.00 – Penny Thots for articles written previously
Hosting and Domains
Tools and Plugins
- $12.00 – Long Tail Platinum monthly fee (if you have Long Tail Pro – upgrade to Platinum here)
Lending Club Service Fees
Totals and Thoughts
Total income ($264.24) minus total expenses ($22.27) equals a net profit of $241.97 for the month of January!
My efforts to create passive income online are definitely starting to pay off. Despite the fact that my numbers are going up, I did have some failures and frustrations along the way. One frustration is that I can’t exactly get my hands on the money that I earned right away. Most of the $229.97 is scattered around different affiliate sites that don’t pay out until you reach a certain threshold. And even after I reach the threshold, I’m not yet certain when to expect payments. One of my failures has to do with sales of Long Tail Pro, and is detailed below…
Thoughts on Long Tail Pro
After I purchased Long Tail Pro in early November, I pushed really hard to promote it to other bloggers by showing them how it could benefit them. I wrote several very detailed posts with tons of screenshots and examples. I started reaching out to other bloggers by commenting on their sites (mostly personal finance bloggers because that is where I used to blog). I held a contest to give away one free copy of Long Tail Pro. I even secured a guest post on Yakezie.com, which is a very popular network of hundreds of personal finance bloggers. I wrote what I thought was a killer post and titled it, How to Turn Your Blog Into a Passive Income Machine. This site got a lot of attention as a result of these efforts, but I only sold one stinking copy of Long Tail Pro. Perhaps I convinced people to buy it and they just didn’t do so through one of my links, which is one of the pitfalls of affiliate marketing. Who knows…
My frustration regarding this has since worn off and I’ve been working hard on other things. But then I read Pat Flynn’s income report for January. Check out what he had to say about his Long Tail Pro sales for January…
Spencer Haws, the creator of Long Tail Pro, ran a huge promotion during the past couple of weeks and was selling it for a massively discounted price. My earnings increased from $114 to $4,155, all because of a price change. I did not mention LTP in any new posts, I simply added the tool to the gray bar you see at the top of my page below the navigation menu. – from Pat Flynn’s January Income Report on SmartPassiveIncome.com
He didn’t promote the tool at all! He simply moved a link to the top of his site and made over $4,000! Wow.
I have since had six people upgrade to Long Tail Platinum through my affiliate links, which is awesome because the Platinum feature comes with a monthly premium. Customers who sign up for this are automatically billed monthly which puts a small commission into my Clickbank account for each one every month. Passive income baby!
Thoughts on My Pay Off Credit Card Site
I am pleased that my Pay Off Credit Card site generated $140. That site gets almost no organic traffic yet. I am currently working hard on a plan and a strategy that I think has potential to produce a ton of affiliate sales. I’m hoping to get that plan in place later this month and hopefully have some monster income numbers to share with you in the future. If the strategy works, I will definitely share the details in a separate post.
Thank You for taking the time to read through my income report for last month and Thank You 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!
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.
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!