My Monthly Report – March 2009

I know I said I’d continue with part 7 (about how eBook prices) of my series, but since it’s the turn of the month, I decided to fit in my Monthly Report from March.

This is the sixth installment of my monthly report, which I use to summarize my income, where it came from, and anything I did or learned that may have had an impact (or will make an impact) on my earnings.

Important Going-Ons in March

A lot of March was dedicated to a new addition to our family. No – it’s not a baby, but it feels like I’m taking care of one sometimes. It’s a puppy! My wife April and I decided to purchase a Maltese puppy and spend a good amount of time and energy training him while he’s still young. Luckily, we’re both at home most of the time so he’s learning really fast. In just 3 weeks, he’s already potty trained, can sit, down, up, shake hands, wait, come, and he’s in the middle of learning roll-over right now. Oh, his name! It’s Gizmo!

Other things that I should mention is that my friend and I, who are developing iPhone apps together, are almost ready to submit to iTunes. We filed for an LLC and a DBA, so we could do business as LOLer Apps (laugh out louder apps). We’re in the middle of finishing up some websites and we’re also filming “commercials” for youtube for promotion purposes. I’ll give you the websites and video links once it’s all good to go, hopefully by mid April. I’ll be counting on you to help us out too!

Lastly, I should mention that I’m pretty sure that my earnings will go down for the next few months. The reason is because LEED, the test I wrote a study guide for, is going through a drastic update. There will be new versions of the exam coming out this summer, so the version I wrote a guide for will be obsolete by then. Registration for the exam ended yesterday, so I expect to see a decrease in customers as summer gets closer.

This wasn’t a surprise to me, which is why I’m not worried. Although I may have a few months of decreased earnings, I will be working hard to create new and better material for everyone during the transition. Also, I have the iPhone apps on deck, as well as my continued affiliate, adsense and eHow earnings.

Here are my numbers from last month:

Income Sources

  • Intheleed.com Product Sales:
    • Ebook Only: 311 sold – $9,215.54
    • Audio Only: 48 sold – $1,160.40
    • Ebook + Audio Package: 350 sold – $15,411.71
    • Total: $25,787.65
      • Last Month: $20,128.35
      • Difference: +$5,659.30

  • Google Adsense:
    • Total: $2,969.54
      • Last Month: $1784.11
      • Difference: +$1185.43

  • Private Advertising:
    • Total: $1,250.00
      • Last Month: $900.00
      • Difference: +$350.00
  • eHow Earnings:
    • Total: $148.79
      • Last Month: $131.35
      • Difference: +$17.44

  • Affiliate Earnings:
    • Total: $172.50
      • Last Month: $162.35
      • Difference: +$10.15
  • Gross Total in March: $30,328.48
    • Last Month: $23,106.16
    • Difference: +$7222.32

Definitely another record month of earnings! I attribute the increase to the fact that a lot of people want to pass the current version of the exam, which as I said before is expiring very soon.

I’m going to copy and paste a portion of my February Income Report that I would like to reiterate here for you because I think it’s really important:

“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.”

Time Spent

Again, I spent probably around 10 hours on my intheleed.com business, which earns me the most income. As before, it was mostly customer emails and sending out newsletters. Ahh, the power of automation.

I think it’s also important to note that my eHow earnings have increased each month as well, without spending one single minute writing any new articles. That is pretty awesome and shows the power of writing good, keyword friendly articles on eHow. I think I might try and write at least one new article a day, just to slowly increase that income source.

I have been working 3 to 4 hours each day, but mostly on the iPhone app stuff and writing for this blog. Hopefully, this will pay off in the future just like before.

Important Things I Learned in March

  • When you’re in any business, it’s EXTREMELY important to know the latest news about what’s going in your niche. Sign up for newsletters from related sites and look up related keywords in Google News every once and a while. This is very important. Not only will you know about changes in your niche/industry (such as me knowing that the exam I wrote a guide for is updating), but you can take advantage of the news as well. For example, because I knew the current exam was ending soon, I sent out newsletters and emails to all of my subscribers letting them know about the change and to act soon. I included links to my sales page, of course, and coupon codes for a small discount that was only available to my subscribers. My subscribers think I’m helping them (which I am), and I get a little more income – everybody is a winner!

What’s Next

In April, I’m focusing on my iPhone application work, as well as starting to write new material for the new version of the LEED exam. As far as if I want to do an eBook and audio guide format again, I’m not quite sure. I have a few ideas, which I’ll go over with you in a post or two, and maybe you can give me your opinion and help me decide.

Again, I’ll let you know exactly what’s going on with the iPhone application stuff (I know you’re all interested), once it’s all completed. I’ll tell you how much we paid to get the apps done, how much we’re making, how we’re marketing it, everything. It should be a fun little experiment.

Also, I’m going to do something special with my eBook series here on this blog, but that’s all I’m going to say about that. Hehehehe!

Thanks for all of your support here on The Smart Passive Income Blog. I appreciate every single comment, email, link and shoutout that you’ve done for me. I hope you’re diggin’ the numbers and you feel motivated to start something online as well.

Cheers!

  • http://www.cyllya.com/portfolio Cyllya

    Man, you made about as much last month as my mom makes in a year, so I should hope you’ll survive just fine with less income. :P

    I look forward to hearing about your iPhone app. I’ve thought of making games for the iPhone, but I’m sticking with flash for now.

  • http://www.retirementsoup.com Paul

    Congratulations on another record earnings month! I just posted my March earnings report before checking my reader to find yours. Needless to say, I’ve still got a ways to go before reaching numbers like yours.

    Thanks for the motivation!

    Paul´s last blog post..Earnings Update: March 2009

  • Jeff

    *Pumps fist in the air

    Allllright Pat! Seriously, great job! Good to see such inspiring numbers.

    Jeff´s last blog post..What’s Happening Here at WritersHall?

  • http://twitter.com/neilnewmann Neil Newmann

    Hey Pat,

    Awesome blog and awesome post.

    Nice to hear from other 4HWW disciples doing well online. :)

    Take care.

    -Neil

    Neil Newmann´s last blog post..neilnewmann: I just found an awesome 4hww-style blog, I’m reading this post: http://tinyurl.com/ca4kul – thanks @patflynn! I should prob have a blog too.

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

    Fantastic once again, Pat!

    Sarah H.´s last blog post..Meal Plan Mondays: 3-30-09

  • Suze

    Yay! You have a baby! So cute.

    On a more serious note, Pat, are your advertising revenues all from your intheleed site? Or have you diversified? I’m just wondering, if ebook revenues are expected to decline, it will be interesting to see what sort of difference it will make in your ad revenues. How on earth would you even be able to estimate? That said, you certainly have breathing room, in my opinion.

    Suze´s last blog post..Circular Signs of Abundance

    • Pat

      @Suze, great question. Actually, most of my advertisements (private ads) are on an extended contract, so I’m sure I’ll still have income from those at least until July. For adsense, however, the numbers will probably shift in accordance to the exam, but hey – they might go up since people will be looking for last minute help.

      To clarify, the last day to sign up for the exam was April 1st, the last day to TAKE the exam is June 30th.

      Thanks Suze! Cheers!

  • Jeff

    Love your blog. 3 questions:
    1. How much do you spend each month to generate your income?
    2. What % of your traffic buys your book?
    3. What % of your book do you have posted on your blog for free?
    Keep it up!!

    Jeff´s last blog post..The Book is Available starting Today – EARLY!

    • Pat

      @Jeff, Thanks man! Here are my answers to your questions below:

      1. For my main source of income, which brought me $25,000 last month, I spent $0.00. All traffic and customers were either organic or word of mouth.

      2. According to Google Analytics (which I set up to track conversion goals), I’m selling to about 1.9% of all visitors to my website. With about 36,000 unique visitors each month, that’s roughly the right number of sales according to e-junkie.

      3. I would say that 75% of my eBook is posted on my blog for free. I added a couple exercises and a little bit of more content, but 75% is there. I would say that a big factor is that it’s organized and easy to navigate through when compared to my website.

      Good questions…thanks Jeff.

      • Jeff

        @Pat, Thanks for the quick response…what you are up to is very interesting!

      • http://twitter.com/neilnewmann Neil Newmann

        @Pat,

        Can’t you make more using PPC or some other paid traffic sources?

        Maybe affiliates could help too. :)

        Neil Newmann´s last blog post..neilnewmann: @tferriss I think your blog would benefit a lot from having a Twitter button directly on the Did-You-Like tab, and not just on ShareThis. ;)

        • Pat

          @Neil Newmann, I do have a few affiliates on board that help out a little. They help me sell about 8 – 10 books each month.

          I rank #1 in many of the keywords that are used, so I think I may be wasting money if people were to click my ads, instead of the free organic links from SEO. Thoughts?

        • http://twitter.com/neilnewmann Neil Newmann

          @Pat,

          That’s great.

          To complement that you might consider buying traffic for related keywords that your site doesn’t rank for. Maybe long-tail or similar keywords for which users would be interested in your product. There should be some of them hanging around.

          But I advice you to start small and test to see if it’ll work for you. ;)

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

    Great results!

    Changes (like the exam update) and seasonality are strong reasons to develop and have multiple gigs . . . your iPhone apps biz will help with that.

    DDFD at DivorcedDadFrugalDad.com´s last blog post..Burning Daylight

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

    Wow, if this post does not inspire those of us who are reading to pursue passive income, then I don’t know why we are reading! This is so inspirational! Pat, I wonder if you have ever considered marketing other quality e-book products. This way, you are not the one producing the material? Or is it much better to develop your own? Just wondering.

    Steve´s last blog post..Have You Overlooked These 4 Powerful Forms of Leverage?

  • AntonfrederiC

    Moon and I can’t wait for the Flynndustries yacht party!

  • Moon

    damn straight!

  • Jay_F

    Hi Pat,

    Just came across this website. Been loving reading about how your business has progressed. Since I’m considering some ideas for a similar business model, walkthrough for a test, I’ll probably have some questions for you in the future.

    See you in the IBM Academy. (Username: jay_f) P.s. You just got another subscriber!

  • http://www.thealmostmillionaire.com Brandon

    Wow, Incredible results! Very exciting!!!

    Brandon´s last blog post..Should I buy a house?

  • http://vikdulat.com/ Vik Dulat

    Your income just keeps going on up and up :). The future is looking great my friend.

    Vik Dulat´s last blog post..Sunday Link Love # 2

  • http://onlineonlyincome.blogspot.com/ darla

    great job! I hope someday to have as good of numbers as you do!

    darla´s last blog post..Current Online Income Sources

  • http://onlinedividends.blogspot.com Online Dividends

    Interesting earnings report. I was wondering, how much time did it take you to write the LEED book? And I am also wondering how much time would it take for you to update it..

  • Pingback: Die Einnahmen 14 englischsprachiger Blogs im März 2009 > Geld verdienen > Selbständig im Netz

  • Pingback: SmartPassiveIncome.com im Interview | Erfolgreiche-Blogs.de

  • http://www.sleepingbagstogo.com Sunny

    Hey Pat,
    just found your site, love it man. I still cant believe you disclose your monthly earnings like that, that is really cool. Not to many marketers are willing to share that much info Prop’s to you man. It gives me so much hope. Thanks.

  • Pingback: Dlaczego lepiej osi?gn?? niezale?no?? finansow? ni? zarobi? milion

  • Sultan

    masha’a allah

    Nice …

    keep it UP … & … Great

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

    From almost 8K to 30K in just a few months… You make me sick! And I mean that in a good way. Impressive Sir Patrick.

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

    Outstanding results! Keep up the good work.