My Monthly Report – February 2009

I’m back from my honeymoon, yay! As much as I wish I was still in Oahu eating Macadamia nuts while watching crazy dudes surf on the 10 foot plus waves at sunset beach, or in Maui kayaking and snorkeling with sea turtles, I’m glad that I’m back and finally have some time to be able to add some new content to my blog for you.

I’d like to thank all of the guest posters I’ve had the last couple of weeks. We’ve had some great topics and also some great comments on each of those posts – so thank you all for keeping this blog going while I was away.

My February 2009 Income Report

I’ll post some pictures from my wedding and honeymoon in a couple of days, but I wanted to start off my return with a bang – my February income report.

As always, I’ll first mention the major events that may have happened within the month that could have made a difference in my earnings. I will also break down the sources of my income so that I can keep track of how each one is doing. Lastly, I’ll conclude with the most important things that I learned and what I have planned for the near future.

Important Going-Ons in February

I didn’t do too much in February, as almost 100% of of my time was dedicated to wedding planning, the honeymoon, and moving into a new apartment with my wife. Here are a few minor things that happened with regards to my work online:

  • I purchased an iPhone. I’ll explain why this is important later in this post.
  • I added more advertisement slots on intheleed.com.
  • I’ve contacted my CPA about what exactly he needs in order to file my LLC and personal taxes. This will prepare me for what I plan to do before April 15th.

Income Sources

  • Intheleed.com Product Sales:
    • Ebook Only: 229 sold – $6775.75
    • Audio Only: 40 sold – $1006.40
    • Ebook + Audio Package: 280 sold – $12346.20
    • Total: $20,128.35
      • Last Month: $17,788.63
      • Difference: +$2339.72
  • Google Adsense:
    • Total: $1784.11
      • Last Month: $892.17
      • Difference: +$891.94
  • Private Advertising:
    • Total: $900.00
      • Last Month: $433.33
      • Difference: +$466.67
  • eHow Earnings:
    • Total: $131.35
      • Last Month: $101.08
      • Difference: +$30.27
  • Affiliate Marketing (affiliate links, PPC):
    • Total: $162.35
      • Last Month: $185.16
      • Difference: -$22.81
  • Gross Total in February: $23,106.16
    • Last Month: $19,400.37
      Difference: +$3,705.79

Everything is still going strong, from my audio and book sales to my eHow earnings. As you’ve read above, I didn’t do much as far as trying to increase my income this month, but every method had an increase (except affiliate marketing, which does require a bit of work). While I was on my honeymoon, I actually had 4 straight days of $1000.00+ in sales, and a record day of $1,400. My wife and I ended up celebrating with a fancy steak and seafood dinner that night.

Important Things I Learned in February

  • Use The Right Tools for Your Business Model: As I mentioned earlier, I purchased an iPhone. As you may or may not already know, my buddy and I are developing iPhone applications as another means of earning a passive income, so – getting an iPhone was an obvious choice for me. In addition, the iPhone is a great tool for my business too! I use it to answer customer emails “on the fly”, and I was able to spend 20 minutes each night in Hawaii (a couple times on the toilet, HAHA!) answering emails that would normally need me in front of a computer. This allows me to be totally flexible and pretty much anywhere in the world and still run my business. I could be in a cafe in Italy, a mall in China, or in a bathroom in Hawaii, and I’d still be able to run my business. My point here is that the iPhone allows me to work and live how I want. What tools would help you run your business? Although it may cost some money up front, do you think it would help you earn more in the long run?
  • Earning More Money Shouldn’t Mean Spending More Money: I think I could dedicate an entire post to this (and I just might), but I wanted to mention it here because it’s something that my wife and I had a good discussion about. Even though I’m earning a lot, our spending habits have not and will not change. Basically, we get to save more! We view it as being able to get to our goals and dreams a little faster, not changing our goals and dreams.

What’s Next

This month is dedicated to taxes, getting used to working from home with a wife and a new puppy, and taxes. I’ll be writing some posts about earning money online and taxes, as well as things I learn from my CPA as I enter numbers from my LLC in quickbooks for tax preparation.

Also, marketing efforts begin on the iPhone applications my friend and I are developing. We’re working on marketing efforts even before the application is finished because it will take some time to script and film the videos we want to help promote the application. In the iPhone app world, marketing efforts are often more important than the application itself. As I mentioned before, one of the top selling apps was called iFart – an application where you can produce different farting noises on your phone. The app is kinda funny but also pretty useless, but the marketing and publicity behind it is what made it successful. More on our iPhone apps to come in the near future.

I also reached my goal of 600 subscribers by the end of February. Let’s shoot for 700 by the end of March.

It’s nice to be back, and as always your comments, questions and concerns are welcome.

Pictures from my wedding and honeymoon are on deck for my next post. I hope you come back and check them out!

  • Jeff

    Incredible results! :o

    I have to say, you are an inspiration, as I have started to find my ‘calling’ on the internet, but you still never cease to amaze me — I was getting impatient to read your earnings, and yes, it was definitely worth the wait! ;)

    I am curious to see why eBooks sell more than audio — as I always believed people have always preferred to listen than read? I’d love to hear you thoughts on this.
    CONGRATS!

    Jeff´s last blog post..Explore WritersHall Forum!

  • http://lifestylesoftheorganized.com/ Sarah H.

    Congratulations to you again and welcome back! Fantastic numbers for February…excellent example of passive income. I love your attitude about deciding NOW to not change your spending habits as you earn more, but rather to start saving more. At your age, you will reap great benefits later on.

    I look forward to pictures!

    Sarah H.´s last blog post..Mission: Appliances – Smoothie Maker

  • http://attractathinneryou.today.com Suze

    Heh Heh…”my wife”. Congratulations Pat. Looking forward to seeing more of these phenomenal figures. Extremely inspiring.

  • http://www.fiscalfizzle.com Wojciech

    Wow – awesome numbers! I think part of it capitalizes on the fact that Leed is switching formats, which is driving a lot of people to take the test. What great timing!

  • christopher

    One consideration for the monthly update would be to include your expenses and approximate the time you put in to the work. I think doing this would stress the true passive nature of the work — especially for those just finding the site. Thanks for all the info.

    And as much as I appreciated your “ghost/guest writers,” I’m glad you’re back.

    • Jeff

      @christopher, second this!

      Jeff´s last blog post..A Life Lesson on Life

      • Pat

        @Jeff & @christopher, You guys are ahead of me! Hehe! I’m going to dedicate a post this month on my expenses and my time too. Good to see that you guys are interested in this. Looking forward to writing it for you all and for myself as well.
        :)

  • http://makemoneyonline-guide.com Make Money Online Guide

    Awesome earnings man! Thanks for posting your income reports. It’s nice that you were able to get that niche site up and selling your own products. Congrats man!

    Make Money Online Guide´s last blog post..The Benefits of Creating a Blog Contest

  • http://www.personalfinancestartup.com Steve @ Start-Up

    I hope you had a wonderful honeymoon and break from blogging.

    What type of puppy do you have? Unfortunately, I’m not home enough for a dog.

    I think you’re dead wrong about why ifart has done so well. It’s because farts are HILARIOUS. Plain and simple. I think somebody used it during a mayor’s meeting and everyone cracked up.

    Finally, I applaud you for not increasing your spending now that you are rolling in the dough. The millionaire next door says that the most wealthy generally spend far less than they make. Even pro athletes making millions aren’t wealthy if they don’t save anything.

    Steve @ Start-Up´s last blog post..My Favorite Articles of the Week

    • Pat

      @Steve @ Start-Up, That’s true…farts are definitely funny, but I think the app became known world-wide because of marketing and the word of mouth. With the app my bud and I are creating, we’re trying to make the marketing funny and memorable too. I’ll definitely keep you all posted. Thanks Steve!

      p.s. I’m thinking of M.C. Hammer too.

  • http://www.themoviebanter.com Craig

    Congrats on the success. Looks like you have a solid influx of earnings from multiple areas, which makes it even better. The ability to make money from multiple channels can allow you to experiment with those as well.

    Craig´s last blog post..Snap Review of Let the Right One In

    • Pat

      @Craig, Thanks man, very true. Oh, and it’s nice to see that your website is finally all good in the good searches. The description is nice. Awesome!

  • http://www.retirementsoup.com Paul

    Good Stuff! I’m looking forward to more of your insights regarding your tax situation as it relates to an online income and an LLC. It’s not something people usually think about in their initial pursuit for passive income, but it’s all part of the big picture.

    Congratulations on your marriage, too. I’m getting married in September, and I’m hoping to have made some pretty good headway for my own passive income by then.

    Keep up the good posts.

    Paul´s last blog post..Going to Las Vegas to Write a Screenplay

  • http://www.aspiretograce.com Su Prieta

    Well, well… congrats on everything, but especially the increase in subscribers. That is the area I am working on now. Glad you’re back. I look forward to reading more.

  • http://www.themoviebanter.com Craig

    @Pat Thanks, that was the easy part. Now comes the hard part of producing quality content for visitors on a regular basis and to convince people to check out a personal movie blog/vlog instead of just news and gossip sites.

    Craig´s last blog post..Snap Review of Let the Right One In

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  • http://DivorcedDadFrugalDad.com DDFD at DivorcedDadFrugalDad.com

    Welcome back!

    I like that you open your “books”.

    Can I ask how much TIME are you putting into your revenues listed? and what types of time are you investing?

    DDFD at DivorcedDadFrugalDad.com´s last blog post..Noteworthy Blog Posts of the Week (#11)

  • http://residualincomeweb.com/ Maria @ Residual Income Web

    Inspiring as always, Pat! Thanks for sharing.

    Maria @ Residual Income Web´s last blog post..How to Make Money with a Website: Building a Site

  • http://www.homesprosperity.blogspot.com Steve

    Pat, I will always be sniffing the air whenever I read a response from you, because I never will know from whence you are sending your response (e.g., the bathroom? ;) Seriously, though, I am very inspired by seeing your progress, and your humility and generosity for sharing how you are doing it with this blog. May God richly bless you with your new marriage :)

    Steve´s last blog post..What Everybody Ought to Know About Success Strategies

  • http://www.adroll.com John Lem

    Hey Pat

    I wanted to suggest you check out Adroll, which is a niche vertical ad network that works great in conjunction with Adsense. Full disclosure: I work there, but regardless it’s a great product that users interested in Adsense alternatives should take a look at. We solve a number of problems that small to medium sized publishers face in an intuitive and highly transparent system. I hope you’ll check us out, and let me know if you have any questions about the service.

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  • http://www.queasystomach.com/ Tommy Hardin

    Not only did you keep increasing your income each month but it is a scary amount. I think most people would be blown away to make 2 to 3 thousand dollars a month and yet on this month you brought in over 23K. Mind blowing.

  • http://www.amirrimer.com Amir Rimer

    Wow, outstanding results. Your income reports are really inspirational!

    Thanks!