Passive Income Report for July and August 2013

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Passive Income Report for July and August 2013
Putt-putt golfing with my boys – Traverse City, MI – August 2013

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.

Happenings Last 2 Months and Looking Forward

Looking back, it doesn’t seem like I really accomplished very much during the months of July and August. I know I got up early every morning and sat in front of my computer. I know I was experimenting with different things I’ve learned recently to try to improve my websites, their rankings in Google and the overall user experience for visitors of each site. In other words – I’ve been dabbling! This has been my curse ever since I started my internet marketing journey nearly two years ago. Two years! It’s ridiculous really, that my income isn’t higher at this point.

Looking at my numbers below, I was definitely trending in the right direction – but not with reliably consistent forms of income. Most noteworthy of these is the sponsored post deals I had been getting for my old personal finance website. These made up for large chunks of my income over the past few months, but I didn’t get any deals for the month of August. I started to write an entirely separate blog post on this topic, but never finished it and don’t plan to do so. Here is how it was going to start out…

One interesting thing to note is the number of sponsored post deals that have come through in the past few months for my old money blog. It’s funny, because the blog is not active and gets hardly any traffic. But, it still has decent domain authority and has a PageRank of 3 (PR3). Because of these stats, advertisers are willing to pay for links in sponsored posts for that blog. Talk about passive income! They e-mail me the post. I copy and paste it, add a picture then publish it and then sit back and wait for the payment to arrive in my PayPal account. Okay. So it’s not totally passive. I do have to do a little bit of work. But, I timed myself on one of them. The one in May that paid $100 (minus $25 to Budgeting in the Fun Stuff for advertising fee) took me exactly 7 minutes to copy, paste, add picture and hit publish. 7 minutes for $75 in profit. Passive enough for me! Admittedly, the quality of these articles is crap – but I don’t care. I don’t have an audience on that blog anymore. The advertisers are simply paying for the link juice.

I was actually thinking about pursuing this business model further – but have since written that off as an illegitimate plan that would be temporary at best and has no long term income potential that would be reliable.

So, what am I working on now? I still have a few smaller niche sites that are bringing in a little bit of income and still have potential to grow. I’ve been adding a little bit of content to those and have been building up some backlinks (even though I dislike manual link-building) when I can. What I’m really excited about though is the “next big site” I am working on. Without going into details here, I’ll just say that I am counting on it to get me to my goal of $1,000 per month in online income before the end of this year. It is the site that I am using for my participation in Pat Flynn’s NSD 2.0. It is a niche site – but it definitely won’t be a small niche site. I found a great main keyword that has tons and tons of long tail keywords that get lots of searches and are very low competition in Google. This site will be monetized primarily through the Amazon Affiliate program and there are literally thousands of products that come up in Amazon when I type in the keywords I am targeting.

FOCUS

Follow One Course Until Success – I hear John Dumas repeat this acronym over and over on his podcast, Entrepreneur on Fire. It is time that I actually take action on this strategy and stop my dabbling. I set a goal for myself to get my internet derived income up to $1,000 per month by the end of 2013 and the only possible way I am going to make that happen is if I focus on one thing. So that is exactly what I am going to do for the rest of this year. I am totally focused on my new website – meaning no dabbling with my smaller/older sites. No dabbling with different techniques and plugins. Not even much more dabbling with this site or any changes to it. Not until I gain traction and start to see results with my new site. Spencer Haws was able to get his survival knife site (for his first public niche site project) to nearly $500/month in only about 4 months. There is no reason I shouldn’t be able to do the same or better with this site. My keyword gets a lot more searches than his did and it is much less competitive in Google!

Financial Freedom

Passive Income Report for July and August 2013
Hiking in the woods with my girl – Interlochen State Park – August 2013

Recently, I finished reading a book called “Why We Want You to Be Rich,” which was co-written by Donald Trump and Robert Kiyosaki. Great book! Towards the end, I learned the difference between financial security and financial freedom. I no longer strive for financial security. Financial freedom is my goal. My family is the reason that I strive for financial freedom and my desire to spend more time with them is the number one thing that is pushing me. I know that my financial freedom will result from something that I create on the internet – and this blog is all about my journey to accomplish just that – whatever that is. I’ve had plenty of failures along the way, but I refuse to give up. I keep pushing forward and trying different things until I find what works best for me. Listed below are results from some of my accomplishments from the past two months.

Passive Income and Expenses – July 2013

Income

Affiliate Income from Dumb Passive Income

Other Income from Niche Sites, Old Blog, Article Writing…

  • $87.41 – Google Adsense
  • $7.69 – Yahoo! Voices for articles I wrote a long time ago
  • $305.00 – Sponsored post on my old money blog via Budgeting in the Fun Stuff

Expenses

Hosting and Domains

Tools, Plugins and Themes

Outsourcing

  • $61.00 – to my private writer for article writing for niche sites
  • $76.25- Budgeting in the Fun Stuff fee (25%) for handling my advertising/sponsored posts on my old money blog

Passive Income and Expenses – August 2013

Income

Affiliate Income from Dumb Passive Income

Other Income from Niche Sites, Old Blog, Article Writing…

  • $48.55 – Google Adsense
  • $7.86 – Yahoo! Voices for articles I wrote a long time ago

Expenses

Hosting and Domains

Tools, Plugins and Themes

Outsourcing

  • $50.00 to my private writer for article writing for niche sites

Totals and Thoughts

Total income $589.66 minus total expenses $342.05 equals a net profit of $247.61 for July 2013!

Total income $212.01 minus total expenses $111.02 equals a net profit of $100.99 for August 2013!

My Income and Expenses August 2013

July was a great month – my best to date! I had record income, but also record expenses to go along with it. I was hoping that my income would continue to trend upwards like it had been – but you can clearly see what happened in August. This is proof enough for me that what I am doing to try to create passive income online may not be the most effective or best strategy for me. Many of the things I’ve attempted would definitely work if I were to see them through and stick with them. I always seem to drift in so many different directions with my internet marketing ventures and only partly complete the projects that I start.

This is why I’ve decided to really focus and dedicate most of the rest of this year (2013) to building out one large niche site that I think has potential to make a great income. Although I’ve dabbled with the Amazon Associates affiliate program, I’ve never built a site intended to be monetized solely with it and around a specific product or product category. My next big site will do exactly that and I’m very excited to see how it will go. If it works like I think it will, I’m looking forward to creating outsource-able processes to be able to duplicate it and create more sites like it in the future.

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!

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

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!