My September 2015 Monthly Income Report
Compared to August, September was a very disappointing month! Some key things happened that negatively impacted my earnings.
I generated a total of $6,760.08 🙁
My revenue dropped by a sharp $10,558.98 (60.97%) which was mainly due to my Amazon seller’s account being suspended on September 9th. Following my decision to focus most of my efforts on selling on Amazon this hit me really hard.
On the bright side, my dating site’s revenue almost doubled, I hit my $100 target goal for Adsense revenue and for 9 days of selling on Amazon the revenue generated wasn’t too bad. If my selling privileges hadn’t been suspended September would have been my best month so far with a projected revenue of $16,000 which would have brought my total revenue close to $20,000 or over.
Needless to say, as of now (10/4/2015) my account has not been reinstated yet, although I remain hopeful.
Take a look below to see how the rest of my income streams fared!
|AdSense Revenue from Niche Sites (screenshot)||$100.01|
|Dating Website Membership Fees (screenshot)||$82.87|
|Room Rental Income||$500.00|
September’s Gross Income
|Cost of Goods Sold||$1,111.00|
September‘s Estimated Expenses
Net Income (estimated): 5,473.48
#1 Verify your suppliers: If you read my August’s report, you’ll notice that I introduced new SKU’s- it was a great move (for a very short time) but I paid for it dearly. In my effort to take risks, I overdid it and strayed away from the method I have been sharing with you through the 12-Step Series of Selling on Amazon.
I ended up rushing the buying process and didn’t vet my suppliers well enough. It turned out they were selling cheap knockoffs of the original product. This resulted to the product’s brand owners reporting me to Amazon and my account was suspended (and still is as of 10/4/2015).
If you are going to follow the methods I share, please make sure you verify your suppliers to ensure that they are indeed authorized distribute that product and double check the authenticity of the product.
I’ll share more on this on a blog post this month.
#2 Diversify & Balance Your Income Streams: While it was natural to slightly neglect my other income streams (e.g. Digital Services) to focus on the one that was generating the most revenue, I should have gone easy on this.
It’s a great thing that I had a few other streams to back me up with my account was suspended so I’m glad Amazon wasn’t my ONLY source of income which is the whole point of my 30 streams by 30 challenge.
Seeing the volatility of reselling other people’s products, I am in dire need to Private Label (PL). I have already identified what type of product(s) I want to PL and have acquired enough information to finally pull the trigger.
I’ll share more on this.
Just like last month, I’ll continue tweaking things with AdSense to maintain my $100 goal by the end of the month.
Until my Amazon account is reinstated, I’ll put in more effort into Digital Services to ensure that I can maintain my income bracket.
Without my biggest revenue generator (Amazon), October might suck but tune in next month to look back at how it turns out.