My February 2010 Monthly Income Report

dollar-signAll right! Time for another monthly income report!

As you probably already know, each month I write a blog post that details my income for the previous month. I do this not only to help me keep track of where my earnings come from and the health of my businesses, but more importantly to share with you what I’ve done that may have an effect on any increase or decrease in earnings, and what I’ve learned along the way, so hopefully you can learn what do to (and what NOT to do) too. I hope you enjoy this month’s report.

Important Going-Ons in February

Personally, a lot of great things have been happening.

Keoni, our newborn son, just turned 2 months old and he’s already beginning to “coo” (baby talk), smile and even laugh. He’s double his birth weight and just seems to be growing at an alarming rate. Although I can’t wait for him to be able to walk around and hold actual conversations with us, I know that I must embrace these moments because they definitely won’t last long.

Also, if you’ve read my last blog post, you’ll see that we’re finally settled into our new place, which means I now have my own office!

Super stoked!

I have about 128 square feet of whiteboard space on the walls to work with for brainstorming, productivity and anything else you can think of that a whiteboard would be useful for. I’m sure once Keoni turns 2 or 3, he’ll be all over the bottom portion of each of those dry erase boards.

Most of February was dedicated to moving in, and I did take a week off from work entirely just to paint and move, but I did do some business related items, which I’ll talk about below.

iPhone Apps

Once again, I’ve been really energetic about iPhone apps lately. My iphone app company, LOLer Apps, has seen a dramatic increase in sales the last two months, without even lifting a single finger or spending a single penny on advertising. Plus, with some rumors about the iPhone finally being opened up for Verizon, that’s totally going to increase the number of iPhone users out there and the number of eyes searching for apps in the app store.

Because of this, we’ve been coming up with some new ideas for the LOLer Apps brand and we’ll actually be submitting the framework for at least 4 new applications to a team of developers. That will double the number of apps we have in the app store already, and hopefully do more than just double our income.

Our primary market is tough (the entertainment category in iTunes), but if we can crack some of the top lists, we could potentially see upwards of thousands of dollars a day. This possibility has always been there, we’re just waiting for that one “golden” app to get there for us. We have some golden ideas, so I guess we’ll see what happens. Wish us luck!

My main business at has actually done a lot better in February than I had anticipated. If you remember from my previous income report, I had mentioned that the company that administers the exam that I have an eBook and audio guide for has come out with their own study material as well.

Well, apparently that hasn’t had much of an effect on my business, as you’ll see in the numbers below.

Now that I’m in my new office, I would like to devote more time to testing different types of sales pages to try and optimize my conversion rates. I’ve seen a number of websites lately “mimic” the style sales page, even using the same buy now button that Amazon does, and it seems to be increasing sales in some niches.

The reasoning behind this is because a lot more people are comfortable buying on, so a sales page that mimics’s sales page style will evoke a sense of comfort into potential buyers and possibly increase click-throughs and sales. I’ll definitely keep you informed when I do perform these types of tests.

As far as what I did in February on the site – absolutely nothing beyond the hour or two I spend simply answering customer emails and responding to comments.

The Smart Passive Income Blog

I’ve slowed down a bit of the promotion for this blog, at least compared to last month which was filled with interviews and features all over the place (including an interview on!). However, I’ve still been receiving a lot of requests for interviews from other bloggers and I haven’t been turning those down because I really enjoy doing them.

Probably the coolest thing that has happened as of late is related to my Free eBook Guide and Newsletter. In just about two months, I’ve seen about 1800 downloads of my eBook, which means about 1800 people have subscribed to my newsletter, which seriously blows my mind.

My goal for the year (the entire year of 2010) was to have at least 1000 newsletter subscribers, so I already crushed that number. I really have you to thank for that, and I must say that I’m quite proud of the exclusive content that I provide in the newsletter itself. There are several weeks of killer, pre-written material already in the newsletter, and I keep adding to it on a weekly basis. Oh, and by the way, currently there are no affiliate links and I’m not selling anything in the newsletter.

If you have yet to sign up for the newsletter,  you can do so by filling out your name and email address in the green box on the right-hand sidebar. You’ll also get a free copy of my eBook, eBooks the $mart Way.

I think it’s time for some numbers: Product Sales:

Please note that these are figures from reports from each individual company for the previous month. It does not necessarily reflect the actual payment which, for some of the companies listed below, come 30 to 60 days later because of potential refunds.

  • Ebook Only: $1207.95
  • Audio Only: $104.85
  • Ebook + Audio Package: $1,648.20
  • Total: $2,961.00
    • Last Month: $2,689.35
    • Difference: +$271.65
  • eHow Earnings:
    • Total: $145.36
      • Last Month: $131.09
      • Difference: +$24.27
  • Affiliate Earnings:
    • Total: $4,552.12
      • Last Month: $4,997.75
      • Difference: -$445.63
  • iPhone Applications:
    • Total: $2,435.90
      • Last Month: $2,448.44
      • Difference: -$12.54
  • Private Advertising:
    • Total: $50.00
  • Gross Total in February: $10,114.38
    • Last Month: $10,266.63
    • Difference: -$122.25

Another fantastic, diversified, consistent month of sales. Although it was a bit less than last month, there were 3 less days of earnings in February since the 28th is the last day, so on a per day basis, I actually did better.

Again, for my greenexamacademy website, my eHow earnings, a portion of my affiliate earnings and the iPhone apps, those earnings are almost all totally passive, meaning I don’t actively trade the hours that I work to earn that money. The work was already put in when I created those businesses or wrote all of the eHow articles that I’ve written.

I do put in a lot of hours of work each month, but it’s mainly on writing content for you on this blog, and promoting SPI to the world. It’s what I like to do, and I’m glad my other businesses allow me to do that.

Things I Learned in February

Here are some important, relevant things I’ve learned in the past month:

1. Always Over-Deliver

I’ve learned that you should always do whatever you can to over-deliver. If you over-deliver, you “over-impress”, and you’ll see results that go beyond than what you’d normally expcect.

It’s been in my nature to over-deliver on everything that I do, as you probably can tell, but it was only recently when I consciously over-delivered in my free eBook, eBooks the $mart Way, and saw the amazing response to it that I realized that this is how I’ve become so successful, so fast.

With my LEED website, for example, I first over-delivered on both the free content and customer service that I provided to people hoping to pass the exam. After that, I over-delivered on the eBook that I wrote, and then later on the audio guide that I created. As a result, word spread, and my earnings just naturally grew.

With this blog, I think you would agree that I over-deliver quite a bit, and that’s probably why you’re still here with me today.

Just think – in any part of life, what consequences can come from putting in just a little bit more time, effort and care into something?

2. People appreciate the little things

Along the same lines as “over-delivering”, I’ve noticed that online especially, people really appreciate the little things that you do.

Even with the recent growth of this blog, I’ve been trying my best to continue responding to almost every single comment, and I think people have been noticing that. You’d be amazed at how many emails I get from people just thanking me for replying to their comment on my blog.

And what if I grew even larger? What if I had 300 comments on each blog post? Yeah, it would be more difficult for me to respond to each because it would take more time, but because it would be harder for me to do so, I can imagine people being even more impressed if I actually did do it. It would definitely set me apart from the big guys, who are often non-existent in the comment sections of their blog.

So my point here is this: people notice everything and are thankful for all the things that you do, no matter how little or how big they are.

3. A Company’s Best Friends

I’ve been in contact with my bookkeeper and CPA the last month making sure all of the books are square so we can be ready for a stress free, no-hassle tax season.

With all of the businesses that I have running, you can imagine it might be kind of confusing about how I keep track of my income and how all that stuff works. Well, I can honestly say that hiring a bookkeeper and a CPA to help me understand everything was the best decision that I’ve ever made.

Each month, I export my Paypal accounts, my business banking accounts and my online shopping cart numbers and send them over to my bookkeeper. She inputs it all into Quickbooks and categorizes and organizes everything for me. Awesome.

My CPA handles all of the tax stuff including filling out all of the forms, what to write-off, and properly submitting the forms to the IRS. I’ll write a blog post about how I handle my business finances later in the month, but I just wanted to give them props because they are taking away a lot of what I know would be stressful for me to handle.

I do, however, ask a lot of questions about why things are the way they are so I can learn along the way. I don’t want to just hand everything off to them and say that’s it, because I do want to understand what’s going on and check to make sure things are being done correctly.

Plans for the Future

Besides the new iPhone apps and the sales page optimization and testing that I’ll be doing on my LEED website, I do have a new startup in mind that I’d love to get off the ground.

I don’t want to talk much about it now because I’m still in the research phase to see if it’s even viable and how profitable it could be, but if it does start to happen, you can be sure I’ll take you though the process with me. I will, however, give you a small clue: the business I would like to create could possibly help you and your blog/online businesses as well.

I know…not much of a clue, but I’ll keep you filled in on my progress.

I hope you’ve enjoyed this month’s income report. Here’s to a fantastic, profitable, healthy and happy March 2010. Wishing you all the best and nothing less than success.


  • Liane

    I can only think of one word Pat. Inspiring! 😉

    • Pat

      Thanks Liane! By the way, I think that poster for writer’s block is pretty awsome that you have on your site. Cheers!

      • Liane

        Thanks Pat! I have to consult you something though, I want to start a sort of community book review website. The business model would revolve around amazon associates. And seeing you have such good affiliate earnings results, mind sharing your insight on my possible venture?


  • Tammy Gray

    Awesum Pat, and you are so right, the fact that still reply to almost every comment is a personalized thing that I know I enjoy. Its always nice to see ones name lol. Keep up the good work, and I love the exclusive stuff you send out in the newsletters as well, if anyone has yet to sign up, please do, its worth it!
    Big thumbs up this month!

    • Pat

      I actually just experimented and did it on one of my posts a while back, and the response was amazing, so – I decided to go full strength, a la Gary Vaynerchuk style, and try and answer as many comments as I could. Thanks for the plug about my newsletter! Much appreciated!

      • Daniel Sim

        Hey Pat,

        Congrats with another awesome month. I like to read your blog beginning of the month cos it is always very inspiring. Can I ask you a question Pat regards to your income from affiliate, is it from Smart Income blog selling other people products or your own product from green exam academy? (if it is too personal you do not have to reply) :-) cheers

  • Travis

    Very cool Pat. Truly inspiring, as always. Every time I read your newest income report I get a huge boost of motivation for my projects. :) Good job and keep up the good work.


    • Pat

      I’m glad these reports inspire you for your projects, Travis! Just hearing that inspires me to do even better each month so I can inspire you even more. All the best to you!

  • Henri Junttila

    These income reports are awesome. I think I’ve told you this before, but I’m doing it again. I completely agree with you on over-delivering. I try my best to do that on my blog as well and it always feel so good to receive those thank you emails!

    I think I remember you saying that most of your affiliate commissions come from this blog, is that true? If so, making $4-5k from that is pretty awesome.


    • Pat

      Actually, Henri – most of my affiliate income comes from my LEED website. However, a good chunk does come from this site, only from promoting a few things, mainly on my resources page that definitely isn’t forced upon anyone. Keep crushing it!

  • Howie

    Great post, as always, Pat.

    I have an idea that may be able to help you earn even MORE on your GreenExamAcademy website…

    Yesterday, I came across a website called “”….after surveying it, I thought it was a REALLY great idea. Not sure to what extent your market would have price sensitive buyers, but, essentially, allows people to purchase through one of their favorite companies/brands (Apple, Gap, etc)…..and, in return, they receive your product for “Free” and you get paid via TrialPay.

    …..They say you’ll always make the minimum of what you request for your product to be for sale at…..but, they say that many times you actually earn more because of the products and offers. Rather than earn $44 on every sale, sounds like you could do $50…..which would amount to alot more in the long run…..

    Just something to think about…..

    We are thinking about offering that as another means to pay for (when it’s FINALLY released…lol)….because, everything tells me that this market ‘could’ have some price sensitive buyers….

    • Pat

      Hmm…that’s an interesting concept, but I think it would confuse people and turn people off from purchasing my product. It may work for others, but my market is very sensitive about what I offer them, and everything has to be related to the exam. I’ll look more into it though, it could for other niches and products. Thanks Howie!

  • Richa

    Hi PAt,

    Stumbled upon your site a few days ago. And really love it – the fact that you can earn a good living, doing what you want, what you like. It’s amazing. Esp that you’ve kept it so transparent.

    The largest single contributor seems to be “Affiliate Earnings”. Can you pl give some details on that. Just curious since I dont see any affiliate ads on your blog 😉

  • Colbycheeze

    Looks like Feb was a great month for you Pat. I am curious. Besides writing amazing content, and your recent interviews, what are some things that you have been doing to promote your blog? I could definitely use some tips in that area, as I only get around 20 or so views a day on my new blog, so I am not sure how to spread the word.

    • Pat

      Honestly, that’s about 95% of the juice behind my traffic – great content and getting featured on other blogs. After time, your site will begin to grow if you just kep those two things in mind. If you can’t get featured by being interviewed, then do your best to get on other blogs as a guest poster, and again – over-deliver on your articles! I do a bit of article marketing as well, but it’s hard to give an exact amount on how much that has benefited the traffic on my blog. More blog posts to come about traffic generation in the future. Good luck!

      • Karen

        Hey Pat,

        I think that you forgot to mention to Colbycheese your Facebook Fan page, the electronic newsletters you send out, your Twitter steam, plus commenting on other sites. It all goes into the promoting pot.

        Your great content and getting featured on other blogs certainly helps – but so does all the other stuff you do behind the scenes. It’s all marketing and building your brand. Great job, btw :-)


  • DJ Wetzel


    Very inspirational! So happy for you that you have found a means of accomplishing your goals in life. It is refreshing to see someone who puts their family first in their lives.

    Where would you go to find an Iphone App programmer if you have an idea for a killer Iphone App??

    • Pat

      I’ve found all of the programmers for my iPhone apps on You can find them on as well, and there are companies you can find on Google that just do iphone apps for people as well. I’ll talk more about this in detail later on hopefully because a lot of people seem to have a lot of questions about it. Thanks DJ!

  • Oscar – freestyle mind

    Great report Pat! I’m too trying things until I finally find something that really clicks. Have an awesome march!

    • Pat

      Thanks Oscar! Again, like I think you said in the past – fail fast, and you’ll find that thing that really clicks even sooner.

      :) Have a great March too Oscar!

  • Serita Diana

    I am inspired everyday by your blog and how it has grown for you. And I love the killer E-book you wrote. It came just when I have started my own E-book, and it is a wealth of information. Thanks for writing it and sharing with us. It will make the process so much easier.

    • Pat

      Thanks for the comment Serita! I’m glad the eBook is helping you out and just at the right time too. Wishing you all the best. Cheers!

  • Drezz

    It’s great to see your diversification still pays good dividends. I’m looking forward to checking out what you’re got coming up in the future.

    Thanks for sharing, and the honesty. You don’t see that kind of transparency too often.

    • Pat

      Thanks Drezz, I appreciate that! I got a lot of stuff coming up in the future that I’m really excited about, and I’m glad to take you and everyone else here along with me to see exactly how it all goes down. Thanks again for your comment, Drezz – as always!

  • Moon Hussain


    You’re doing damn well for yourself! I”m suprised to see that you’re earning more from your affiliates than your own product (greenexam related). Are these affiliates the ones that you feature on this blog…? Or do you have other niche sites setup?

    p.s. Thanks for responding me to me so quickly through email!

    • Pat

      These affiliate products are through the LEED exam website, mainly, but also through this website, like in the resource sections and in some of the blog posts I write. Mostly commissions for sending people to the Internet Business Mastery Academy, to for domain and hosting, and LegalZoom as well! Keep up the good work on your site Moon! I went there the other day, and a lot of good conversations going on! Cheers!

      • Moon Hussain

        Aw, Pat, you’re being kind, thanks!

        That’s interesting… (the affiliate thing, that is). Hope you’re enjoying your new office.

  • Julie @ Write for eHow

    Hi Pat. Great job! Another question here about the affiliate earnings. I’d love to have more details on that as it looks like others would as well. Thanks!

    • Pat

      Hi Julie,

      I’m still unsure about how the companies and people who I’m an affiliate for would respond to me showing exact numbers and sales. Once I get the ok, I’d love to break it down by products though. Maybe for the products I offer on this site it would be ok. Would it be ok with you? Hehe.

  • Shae

    Fantastic results, Pat! You definitely over-deliver and I love the fact that you always share the lessons you’ve learned each month. Thanks for providing so much value and inspiration!

    • Pat

      Anytime Shae! I just want to show people that with hard work, things can really start to pay off! Thanks again for your comments!

  • RJ Weiss

    Love the income reports. Always very motivating.

    • Pat

      Thanks RJ! I appreciate it!

  • Emmiline

    Pat, I just wanted to say that I love your blog, it is so inspiring! I am in the very beginning stages of starting a blog and online business. I am registering at bluehost today. What would you say was your most valuable tool when you were first getting started?
    Thankyou for all of your great content!

    • Pat

      Great question, Emmiline, but it’s hard to answer because there are so many. I think my most valuable resource was the information that came from and There’s a wealth of information that, especially for beginners, that has helped me with my blog. Darren from Problogger has a new resource at Problogger.COM that I wish was available when I started. It’s a paid forum (only like $5.95 a month) that’s filled with tons of motivating people and information. A great place to meet and connect with new people, especially for new bloggers.

      Also, just keeping in mind that you don’t have to be perfect was valuable too. Jsut get stuff out there for the world to see and Google to pick up in their search enginers, and you’ll be ahead of everyone else who never gets anything done because they want things to be perfect.

      Best of luck to you!!!

  • Jackie

    Another great monthly report. I love the way you use these to analyze all of the aspects of your businesses.

    • Pat

      Thanks Jackie! I appreciate it, and thanks again for your guest post last week! It was definitely well received. Great stuff! All the best to you!

  • Marty Green

    I gotta say Pat, that this is one of my favorite blog posts of all the blogs I read. It truly is inspiring as someone previously commented on.

    It’s amazing to know you can make this kind of money on your own terms. Not having to work crazy hours for someone else and not have to answer to anyone as you are the Boss.

    Well done Pat and keep it up!

    • Pat

      Thanks Marty – I feel very fortunate to be where I’m at and doing what I’m doing, especially with a new baby boy in our lives as well. I thank my lucky stars every day, and only hope that I can keep this up by giving back and helping and inspiring others to do the same. Cheers!

  • Tyler WebCPA

    Wow, thank’s for being so open with us! Also, I love the slideshow of you, the Mrs., and Keoni.

    • Pat

      Thanks Tyler! I’ve been meaning to update it with new pictures. Hopefully in March I’ll have many more to share with the community here. Thanks!

  • Sean Breslin

    Happy to be on your list Pat… What’s more I read your emails. Doing that for less people, if its copy and paste its unsubcribe time!

    • Pat

      Thanks for being on my list, Sean, and I hope you find the content exciting, new and useful for you and your online ventures!

  • Jeff

    I don’t know if you realized this, but you’ve earned ~$20K in 2 months (not accounting taxes yet, costs, etc — these are still beyond awesome numbers!).
    Think of this, Pat: it takes some people a year to reach that income-mark, some never reach that mark, and many struggle to earn $20K!

    …I know that making money is a very hot, debatable topic, but beyond that I just wanted to bring the above statements to a point: You Are A Truly Successful Person — A Piece of Inspiration!

    • Pat

      Thanks Jeff – you have no idea how appreciative I am of your comment. Also, I do know that I’m doing fairly well at the moment and there are a lot of people out there struggling just to make a dime these days, which is why I won’t ever let my earnings and what I do get to my head, and I’ll stay focusing on helping others achieve similar results, or at least continue to inspire them to do so.

      Thank you again Jeff, and I wish you all the best.

  • Free I

    Pat, thank you for the massive amounts of information and motivation provided on your site. You’re absolutely right about over-delivery, it’s really a gift that you’re willing to give to a client for helping you get to were you need to be.
    You’re earnings are incredible and like the newest member of your family, I want to be just like you when I grow up.

  • Will Reinhardt

    I love the diversity of your earnings, something I’m proud of myself. If one area slouches each month, there always seems to be another area that picks up the slack. It also feels good to look forward to the 1st of each month so I can run that earnings report.

  • Joshua Houghton

    Hey Pat,

    I’m like a kid in a candy store waiting for these reports. I love seeing the progress you make every much with your business. Will you ever consider doing a post on how you create your Iphone apps? You know, the in’s and out’s of creating an Iphone app. From business to research to building your team. I think it could give us some insight into your iphone app business.

    Love the new office too.


  • Terrence Vine

    Hi Pat,

    Wow…wow…wow… I’m truly – truly amazed by you over and over again… You truly have shown the way of what is possible out there for people like us in search of true income freedom… Hmm…how in the hell am I going to get there…? May GOD bless…

  • Maren Kate

    Great stuff Pat, I am super interested in App development too, I like you am not a programmer… but you’ve shown me all it takes is a good idea and the know how to find people who will build it for you.


  • Jewelry Secrets

    Awesome. You have $4,997.75 listed as Affiliates. What affiliates are included in this figure?

    Congrats on the new iphone developments. Very exciting stuff. That seems to be the way to go… :)

  • Julius

    Really thinking of creating a similar monthly report for myself. Also, I like the concept of overdelivering. I’d like to practice this idea, and for me, I think one should not pay too much attention to the time he’s spending, as long as he provides more than enough good content or service to others.

  • Ivan Walsh

    Hi Pat,

    Getting a CPA was the best thing I ever did… business-wise anyway.

    Doing tax forms late at night? Avoid! Get the experts to do it & it works out as a cost-saver.

  • Lisa Davis

    Hi Pat

    Thank you so much for sharing your monthly reports – they are so informative (and inspiring!). I really appreciate your transparency and have learned so much from them. I have also been implementing as many of your recommendations as I can – currently converting my blogspot blog to WordPress with my own domain name. Yay! And my first goal is to replace my current weekly income (which is not a lot, I have to say since I am a stay-at-home mom working from home!) with income from my blog.

    Thank you for being so generous – I appreciate your over-delivering!!!
    All the best

  • Sandra

    Another fantastic post, Pat! Thank you so much for your inspiration!

  • Andrew

    Hi Pat, thats a good to know that the income is getting better. Good post Thanks

  • Ms. Freeman

    People really do appreciate the little things, I know I do. bloggers that take the time to respond to most if not all comments score big point in my book! :)

    Looks like your revenue is picking back up for the Green Exam project- Kudos!

    Your eHow stats are still growing steadily as well. Mine are increasing slowly, but they are increasing none the less.

  • Rachel @ Pen Meets Wallet

    Wow, truly inspiring!

  • Chetz Yusof

    Wow! I’d be very happy i could earn even just 10% of that right now…

  • Chris Guthrie

    Perhaps you should consider hoping on the iPad development band wagon? If you developed a few apps specific to the iPad you should have a good shot of making it onto their top lists.


  • Master Dayton

    Just stumbled on this blog. Really great numbers for the month, and it’s great to see another success story to encourage those of us still way down on the mountain hammering away at it. Thanks for sharing!

  • Caleb Galaraga

    Hey, Pat! My friend and I will begin doing an e-book project to make some extra passive income. I’ve been following you quite some time, listening to your interview with Yaro Starak and am about to download your e-book! Hoping to emulate the success you have achieved, shared, and modeled to all of us! God bless.

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  • sharon watterson

    great to read your updates, and to somehow think i’m on the right track, like finding a wall in the dark

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  • Annabel Candy, Get In the Hot Spot

    I “met” you on your Problogger interview. Can’t think why I didn’t subscriber first time round but you got me hooked. I’m signing up now:) You make a wonderful role model. Keep up the good work.

  • ClearanceTowels

    This is really motivating, I guess I’ll give creating iphone apps a good try too..