My Monthly Report – May 2009

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

It’s pretty crazy to think that I’ve been living off of passive income for the last 7 or 8 months, grossing over $135,000 and learning so much during my journey. I hope that in the future, my income will continue to rise and I can continue to provide you with insight on how I do internet business and earn a passive income.

Important Going-Ons in May

May seemed like the shortest month of the year so far. It’s probably because I’ve been so busy.

Intheleed.com

I’ve spent the last two weeks of May writing a new study guide for one of the new exams. I actually finished last night and spent today setting up the shopping cart and my website so it could finally go live. Because I’ve done this before with my first study guide, it was SOOOO much easier this time around. Now let’s pray that I can earn the same amount as before too.

(praying…)

From start to finish my guide took about 65 hours to complete. That’s less than two weeks of work at a 9 to 5 job, and I now have a product that has the potential to earn me an income for years. Again – the idea is about putting in the work now and reaping the benefits later (instead of putting in work now and only getting paid for those hours).

In addition to my new material, I’ve contacted some professional web designers to give intheleed.com a nice, professional looking overhaul. Yay for virtual assistants! I’ll let you know when this is finished so you can check it out. I’ll probably put a before and after picture up – those are always fun.

The Smart Passive Income Blog

If all goes well, by tomorrow you will have already noticed a redesign of the blog. There was a bit of a delay in the redesign process, but it’s finally close to being complete.

The purpose here is to not only make the blog look cleaner and more organized, but to start monetizing it using ad spaces and newsletters. I’m glad you have the opportunity to witness the changeover – it’s a very exciteing time for me and the life of this blog. I hope you like (or will like) the new design.

LOLer Apps

Our 1 iPhone application has been on sale for about a month. What have we learned? The iPhone app market is TOUGH!

We always hear about the guy who sold 50,000 units in one day, or the person who earned $500,000 in one week. There was even that story about a 9-year old boy who created an app that had some great success. But what we don’t ever hear about is how most iPhone applications get lost in the sea of 50,000+ apps. A LOT of the success comes from marketing, so we’re coming up with a plan to kick it up a notch. I’ll fill you in later, but you can read a little about our earnings report and what we plan to do at the LOLer Apps website.

We also have 3 other iPhone apps in development (yeah, we go all out), so that should definitely help

Anyways, here is May’s income breakdown:

Income Breakdown

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.

  • Intheleed.com Product Sales:
    • Ebook Only: 194 sold – $5,737.40
    • Audio Only: 71 sold – $1,988.85
    • Ebook + Audio Package: 209 sold – $9,239.65
    • Total: $16,965.90
      • Last Month: $15,339.70
      • Difference: $1,626.20
  • Google Adsense:
    • Total: $2,811.54
      • Last Month: $1,928.35
      • Difference: $833.19
  • Private Advertising:
    • Total: $1,250.00
      • Last Month: $1,250.00
      • Difference: $0.00
  • eHow Earnings:
    • Total: $151.50
      • Last Month: $114.56
      • Difference: $36.94
  • Affiliate Earnings:
    • Total: $180.75
      • Last Month: $366.75
      • Difference: -$186.00
  • Gross Total in May: $21,359.69
    • Last Month: $18,999.36
    • Difference: $2,360.33

An improvement from last month, which is quite a surprise. I expected less earnings because of the way the exam is transitioning right now (in regards to my study guide), but I guess there are still a lot of procrastinators who have yet to study for the exam they already signed up for before the deadline.

Important Things I Learned in May

While I was completing my new eBook, I had some days that I would be able to crank out 20 high-quality pages, and other days when I would complete only 6 or 7 that weren’t quite as good, even through I worked the same amount of time. Why the difference? One word: focus.

Staying focused is key, but it’s a hard thing to do, especially when working from home. There are a few things you can do that I learned will help you keep focused and stay productive:

  • Eat a good breakfast! I’ve finally realized why my dad would tell me every morning I skipped breakfast that it is the most important meal of the day. It’s because it is! After a good and wholesome breakfast your mind will stay focused longer and you’ll have more energy to do anything. I realized that on days I skipped breakfast, I wrote less and worse.
  • Get some sleep! Same reasoning as above.
  • Take Breaks! Working for more than 1.5 hours at a time can really wear you down. I found that by taking more frequent (and shorter) breaks, you usually feel good when you get back to work and are then ready to crank out whatever it is you have to do. Oh…and power naps during these breaks are good too! I say 45 minutes is a good nap for revitalization.
  • Communicate your schedule! When working at home, it can be really easy for someone (like your wife!) to just come over to your desk and tell you about some interesting article she read online. That’s totally fine, but when I’m in the middle of a page or a section, it really halts my momentum, and it usually takes me a while to get back into the flow of things. This is why I learned to say, “Hey babe, I’m going to work on this section really quick for half an hour and then take a break with you.” You get what you need done, and she knows your focused on her during your break and not on your work. Woot!

These are things that can apply to everyday life really, not just doing business online.

What’s Next

As I said, SPI will be redesigned a little and I’ll probably be working out any bugs that come about from that. Also, I’m looking into writing more eBook material and doing some market research on some new niches to diversify my income. I’ll talk to you all more about that as it’s going on.

Cheers everyone!

  • http://theofficebuddy.com.au Donna

    Hi Pat,

    I love how you include your income details. It really adds credibility that you don’t include comments like “YOU CAN EARN THIS TOO!!”.

    Just recently found your blog, and am loving it.

    Cheers

    D

  • http://www.pluginhq.com Glen Allsopp

    Great month for you man, thanks for the post!

  • http://www.bloggingbanks.com Blogging Banks

    Wow, you seem to be on a roll. How much time did you spend working on the first e-book ( writing it down). It would be interesting to see how much you actually made per hour.

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

    Great results Pat!

    Can you expand on “Private Advertising”?

  • http://twitter.com/robertoriccio Roberto Riccio

    Nice job Pat, these reports really help me motivate myself!

  • http://www.sarahhallphotography.com/ Sarah H.

    Good luck with your new study guide! Great numbers once again, Pat.

  • http://chasingthebull.info Dusty

    Good stuff my friend. It makes me happy to see one of the good guys make it big!

  • http://WunderCreative.com Joe

    Hey Pat! You mentioned your wife briefly…how does she handle you working at home and blogging about your work? Does she read it? Might be an interesting post on how she handles all your passive income work.

    Thanks,
    Joe

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

    Pat, with regard to E-how: are you continuing to put efforts toward that? I just wonder about how worth it it is to focus on that versus focusing more on my own blog posts, when I have limited time. Probably may be better to focus on blog posting, guest posting, or working on an E-book. But I may be wrong. Just wondering your take.

  • http://deneilmerritt.com Deneil Merritt

    Good to see you still doing well for yourself. Keep it up.

  • http://debtorinthecity.blogspot.com debtor

    Pat,
    I totally love your site. It is so motivational. Seeing those numbers just refocused me. I can write, I can blog, what am I waiting for? I love that you are making this much in a month. Your layoff was truly a blessing in disguise. This type of passive income will allow to explore so many other things.

  • http://debtorinthecity.blogspot.com debtor

    not sure if my last post posted

  • http://jobadee.net Nick

    Hi all…Ok… we are live with our website. It is not perfect yet – BUT I would love you to visit and if you could be so kind – tell me how to optimize it to convert traffic to sales…

    Right now our objective is to give away a few Job Hunt Report….in exchange for emails. So we can build a list to sell a premium job hunting service.

    THANKS!!

    Nick

  • http://www.arystoteles.pl/kiosaki.en.php Lech

    Wow, your income is inspiring.
    Whaere do you have those adssense ads bringing that revenue – on this blog, or other websites? How many websites you have?

  • Mark

    How does your income work as far as tax deductions and whatnot?

  • Mark

    Hey Pat, what software did you use for your Intheleed ebook? I am writing an ebook for my niche website and I need a good program. I would greatly appreciate it, thanks!

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  • Rob

    H there,

    Can you please send me a copy of your IRS W9 form?
    You can block out all your personal data just keep your name and dollar amount. Surely with the 5 digit income you are making on a monthly basis that will be no problem at all.

    Actually, producing false Clickbank statement images and Adsense checks has become commonplace. Considering the thousands of self proclaimed millionaires, I would imagine some would take me up on my offer but none did , including Joel Comm.I don’t think he has any credibility outside of trailer park homes or adults with a high school diploma.

    Could it be they are lying about their fortunes?
    Well, l posting a false W9 form on the internet is a Federal Class 2 Felony.Somehow, these web marketers seem less convincing by the day

    Look forward to your seeing your W9

    Thanks,
    Rob

    • http://www.smartpassiveincome.com Pat

      And you are…?

      You know, you could of contacted me personally though the contact form on this blog for something of this nature. Because of the tone of your message and what you stated, I will not be taking the time to email you anything.

      The first rule of doing anything on the internet: if you want anyone to do something for you, you can’t call them out on something and expect anything in return.

      Sorry Roberto, I have no reason to worry and fulfill your request.

  • http://www.mommyintheworld.com/ Hailey Erickson

    what do you do with all that money?!

  • http://www.easykindamoney.blogspot.com Cory

    I am finding the information you are presenting here a true treasure trove. I have recently begun a blog in a similar vein, although my journey is just beginning. With your advice and the tips provided at Problogger, I can really visualize my success. Thanks Pat

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

    Great results Pat!

    It’s amazing to see your progress over the years!