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

My January 2016 Monthly Income Report

16
Feb

Read time: About 3 minutes!

January’s Overview

Not a great start to the year but I’ll gladly take what I can get.

That said, I’m starting to agree that the human body is not built to withstand the HAM I’ve put mine through these last few months. This dawned on me when I spent majority of  January sick, only able to do very little.

Thankfully, I’m better now but my numbers aren’t.

With a total of 10 days of actual work put in January, I generated $6,522.15 this resulted to a -31.81% drop from December’s revenue but a decent +8.32% increase in net income.

I feel like being sick shouldn’t be an excuse to the low numbers and quite frankly I’m somewhat unhappy with the downward trend I’ve been experiencing lately. That said, I know many of you that email me would be happy with my numbers so I’ll quit bitching.

I still have a ton of work that got backed up and I’m still playing catch up well into mind February! One day a time though.

As a result of working for only 10 days, my eBay income stream suffered tremendously. Had it not been for that, I probably would have had better numbers compared to last month- or at least I’d like to think so.

Either way, I’ll let you be the judge…

Income Breakdown

Digital Services $2,500.00          (+150.00%)
AdSense Revenue from Niche Sites $98.52               (0.00%)
Dating Website Membership Fees $46.79               (-40.17%)
Room Rental Income $1,159.20          (+3.50%)
Amazon $1,875.86          (+7.80%)
$5K Amazon Business System $400.00             (+40K%)
Alex & Pike $0.00                 (0.00%)
eBay $437.78             (-31.68%)
Craigslist $0.00                 (+0.00%)
Hot Chocolate Donations $4.00                 (+400.00%)

January’s Gross Income

$6,522.15          (-31.81%)

 

Estimated Expenses

Cost of Goods Sold $788.00
Web Hosting $62.00
Landing Page + Analytics $57.00
Email Services $37.00
Fees $147.39
Amazon SEO $50.00
Shopify Store Subscription $29.00
Shipping & Handling + Shipping Supplies $66.00
Advertising $255.38

January’s Estimated Expenses

$1,491.77        (-69.69%)

 

Net Income (estimated): $5,030.38 (+8.32%)

As you can see, the low revenue wasn’t necessarily a bad thing. Due to spending less of inventory, I ended up with lower fees, shipping costs, and cost of goods sold which when combined resulted to lower expenses and a better net profit compared to last month.

Lessons Learned

#1 Multiple Income Streams Rocks: Trying to think what would have happened to me had I had a “regular” job and be out sick for 21 days, I probably would have been fired. Additionally, after using all my sick days, I probably wouldn’t have any money unless I had some savings stashed somewhere.

By having multiple streams of income, even though a few streams suffered, I was able to stay afloat and not stress too much about when my next pay check was coming from.

 

Looking Back

Now I’d like to review the goals I set last month to see how well I did;

  1. Finish 12-Part Selling on Amazon Blog Series: I made sure this was done, if you have been following the last one was part 11 which technically is the last one because part 12 will introduce private labeling which I’ll tackle this month.

Looking Ahead

The two partnerships I started are almost materializing. You should see some of the work soon. I’ll hopefully start sharing some of my Private Label results in February so you can benefit from it.

Here are my goals this month;

  1. Start Amazon Private Label blog series.

Just like last month, I’ll keep my goal at a minimum to maximize the chances of successfully completing it. Thank you for reading, until next month, stream on!

12 Responses

    1. Haha thanks Kim! 2 today, 30 tomorrow that’s how I see it. I appreciate your kind words & completely agree with you, you should do the same, we can cheer each other on along the way!

      I’ve checked out your site and wow you’ve got a lot going on, so cool!

  1. Craig

    Nice going Tim. Very decent Net income right there.

    I’ve just started my Ebay selling account and wanted to know if you would recommend Amazon over it or just do both with equal time spent on each?

    Cheers,
    Craig

    1. Thanks Craig and congratulations on starting!

      Depending on the items you sell, I’d say test it out for a month or so and dedicate more resources to the one giving you the highest ROI. This will also depend on your long-term objectives.

      For me, I want a business that’s as automated as possible. eBay doesn’t give me that so I use it to boost cash flow which I in turn use to launch private label products on Amazon taking advantage of their FBA program.

    1. You know what Craig, I have thought about it. I actually thought of doing the entire Private Label course that way, but still think writing would still help.

      What are your thoughts?

      1. Craig

        I reckon it could be a good idea to take it to Udemy. There is a huge market of people that are interested and I think I’ve only seen a few PLR courses one which has over 7k students. Even if that is only $10 a course its still a lot of money..

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