Click to View June's Income Report: $6,732.64

My August 2015 Monthly Income Report

1
Sep

Read time: About 2 minutes!

August’s Overview

August was an even greater month! Probably because it’s the month I was born.

I made a total of $17,319.06– Happy Birthday to me 🙂

My monthly income grew by an insane $9,071.30 (109.98%) which was mainly due to the decision I made last month to focus more on my newest income stream selling on Amazon.

As you can see in the breakdown below, almost everything else with the exception of my rental income suffered but it was SO worth it!

Income Breakdown

Digital Services $2,700.00
AdSense Revenue from Niche Sites $90.41
Dating Website Membership Fees $45.89
Room Rental Income $625.00
Amazon $13,857.76

August’s Total Income

$17,319.06

 

I’ve focused more on Amazon and as of yesterday morning (August 31st) shipped out my first FBA packages. I’ll be sharing more on that by the end of this month.

Amazon’s income made a crazy 920.07% jump (yess!!!). I had 3 payouts which I gladly welcomed.

My AdSense Revenue also made a 19% jump! I hope this growth continues in September, my goal is to hit the $100 Google threshold!

Lessons Learned

Trust your gut: Cutting off the peer-to-peer lending was a good move, it was taking a lot of my time and din’t have much returns- I went with my gut!

Don’t fix what’s not broken: When I bought this site on Flippa.com, I had a plan to redesign it- which I did.

Although the new design looked better, it wasn’t doing well for me as far as generating AdSense revenue. So, I separated the two sites and as you can see, that had a +ve effect on my AdSense revenue.

Take Risks: I’ve introduced new SKUs in my Amazon Inventory, they’re not proven yet so they could be a total flop, but I won’t know unless I try right? As always, you’ll be the first to know how this goes down by the end of this month.

Looking Ahead

Since selling on Amazon has continued to show some encouraging results, I’ll continue to reinvest my earnings back into this stream. I’ve just started experimenting with FBA, if that goes well this month, I’ll add more products.

I also plan to introduce some Private Label products (maybe just one for now) before the end of the month.

I’ll continue tweaking things with AdSense to hit my $100 goal by the end of the month.

As I juggle all these balls, my Digital Services will continue to take a hit, but as long as the other existing streams are growing, I’m ok with that.

Tune in next month to see how September turns out.

 

13 Responses

  1. adrian

    Congratulations Tim for your success!!! I’m glad for you.
    I don’t know if this would be too much but these reports would be more “realistic” if you could include the money you invest in your streams (or is it already included in the “Total Income”?? )

    As always thanks for sharing your methods.

    Happy birthday by the way!

  2. Thank you Adrian for the kind words and birthday wishes!

    I’ve received a lot of emails about this and at one point considered posting “everything” which is basically expenses, operating costs, net profits etc but I’ve consciously decided to leave that information out for 2 reasons;

    1) That is information that would be more fitting for an investor and/or business partner(s)- e.g. if you and I went into business together.
    2) It takes a way a much needed sense of MYSTERY in all you do making it boring and bland.

    I strongly believe that I would be robbing all my readers (who I assume are fellow entrepreneurs or soon to be entrepreneurs) the two values that will make them successful- faith and lack of fear (or a risk-taking trait).

    Mystery encompasses a faith in what you do and a lack of fear.

    This is important because when an entrepreneur lacks faith and ability to take risks, even if I show “all the numbers” it will not help them take things to the next level because every step of business growth requires those very traits.

    I’ve found that many people (not you per se) who have to ‘know’ everything before taking action do that because they have no faith.

    When something is a mystery it hits deeper, into ones soul, and encompasses the whole person enabling you to achieve crucial growth- which is what I hope to do with what I share.

    That’s the power of mystery.

    One thing I can tell you for sure though is that I will ALWAYS post accurate number (even when I’m losing money) I owe it to myself and readers like you to NEVER lie in my reports.

    I hope my logic makes sense.

  3. Casey

    “Considered posting “everything” which is basically expenses, operating costs, net profits”

    So you are posting revenue earnings, not income. Income specifically means revenue minus expenses.

    Nothing wrong with that, but you should be more upfront that your numbers are not net of your costs, which could be as much or even more than you are earning in revenues. Perhaps you should consider renaming your reports Monthly Earning Report?

    Otherwise, what you are doing is not “mystery” — it’s just misleading.

  4. adrian

    I definitely agree with you Tim.

    It’s true that I had always have a lack of faith, on myself specially. Plus, coming from trading in Forex… I tend to analyze a business differently I guess, and therefore I’m looking for the data an investor would like to see before putting his money in.

    Anyway, keep doing it the way you did until now. You are helping a lot of people (including myself of course), and not only about how to make business. You go beyond that.

    Regards!

    1. Adrian, true- your Forex trading background explains your approach. I appreciate you seeing where I’m coming from.

      As for the lack of faith in yourself, I’ve personally experienced this in some aspects of my life. However, the belief that we all have what it takes is stronger and helps me get past that limiting belief mindset.

      I’m glad that you are finding what I share helpful, it gives me the motivation to keep sharing.

      I’ll see you at the top!

  5. craig

    Hey Tim,

    The numbers look amazing! I’m just a bit curious on the other side of the coin, the expenses, which could completely turn the picture upside down.

    I know you talk about mystery and that does make sense, but if your expenses are $17k, hypothetically speaking, then all of sudden it’s not such a pretty picture.

    Cheers

    1. Thanks Craig!

      True, expenses could be over $17K that’s business. Gladly that’s not the case here. My margins are anywhere between 30 – 60 %.

      For your sake & many others like you that have expressed interest, I’ll consider adding expenses in future reports despite my original concerns against it.

      Thanks for taking the time to stop by!

  6. craig

    Awesome thanks for the update. That’s still very impressive !

    I’m wanting to start replicating your methods as they seem very successful. This whole 8 – 8 for the next 20 years doesn’t really sit well with me lol.

    1. Thanks Craig, it’s been an up and down journey but I am grateful for the ride.

      I’m with you there, office work is just not for me either. I wish you all the best, check back in when you get things rolling I’m sure you’ll have lessons to share.

      Stream on!

  7. Sebastien

    Hey Tim,

    I love your blog, super help full and very well made.
    But my skeptic side keeps telling me this: he could put any number he wants in these reports. And I think there are many people that might just stop reading your blog when they click on the reports section and think “Okay, another scam”.
    I hope you understand that I’m not implying that you are a scammer nor that you are lying on your reports though, because I honestly think your blog is super rad.
    But please, make the skeptic voice inside my head quiet and publish something that could serve as a proof of incomes, not just something you typed yourself.

    Thanks Tim, and in any case, keep on doing a great job!

    1. Thank you for your kind words Sebastien!

      I’m flattered that my reports would raise a skeptic voice inside your head because that tells me that the numbers I’m showing are almost “too good to be true”. That’s because I’m not even close to where I want to be and I’ve know of others that are making 100x more than I am making.

      As for the skeptic voice inside your head, I’m not sure how I can quiet it because I have a feeling even if I post screenshots of my bank account or other accounts like Amazon etc someone out there (not necessarily you) will say “Oh those screenshots are fake, we need to see more proof” so you see, there’s no way for me to win this one.- although I welcome your ideas.

      Lastly, I’m not sure why people are skeptic about my numbers especially since I’m not really trying to sell anyone anything. All All I’m doing is sharing what I’m learning along the way in hopes of saving some time for someone who is serious about creating their own streams of passive income.

      It’s also my way of staying accountable to the public of my commitment of creating 30 streams of passive income before turning 30!

      Thanks again for your feedback and for stopping by!

      I’d love to hear what you have going on and see if there are ways we can learn from each other.

  8. Dang man, stumbled upon your blog and LOVE it. Have dabbled with eBay, craigslist and amazon in the past. Trying to find some passive income to pay off my student loans. Appreciate your transparency and help. Any other amazon product hunters you recommend? it appears the other one shut down. Or, care to share which products you’ve sold in the past? (I know the cane one you mentioned in your sample – but others?)

Leave a Reply

Sign up to my newsletter!