These online entrepreneurs continue to adapt. Although the future is difficult to predict, many are now comfortable with their new direction after all the world changes. Many have found success in catering to their customers’ new lifestyles, which includes a lot of staying at home!
Many of these entrepreneurs continue to work at the strategies that they adapted during these turbulent months. Although many of them found different methods to succeed, it definitely helped that they were in the world of online commerce and content. They have taken advantage of a time where many people were on their computers, and have found a way to shift their offerings to cater to people’s specific wants.
#1 Takeaway – Stay the Course – In the past few months, we focused on how these online entrepreneurs shifted to the changes in the world economy. Now, they are sticking to these strategies and seeing their efforts pay off. Sometimes, success is all in the follow through. Keep doing what’s working, and you’ll see it pay off.
Quick May Update on my End:
My Reason for This Round Up:
When I started my online entrepreneurship journey I took a lot of inspiration from others that were sharing everything they did online. Seeing that people like me were making REAL money and that the opportunity to replace my day job was possible.
It has been 3.5 years since I left my day job – https://websiteincome.com/quit-my-job/
The more transparent the report the more I appreciated and was motivated by it.
Over the years I have tried to be as transparent as possible sharing along the way my goals, business successes/failures and the ultimate results(profits).
After years of sharing monthly income posts I decided that it made sense to stop these… a decision I actually regret as I wish I had found a way to keep sharing some of what I was doing.
My reason for stopping was my online world and “real” worlds became more connected and it was becoming very odd to share these numbers.
Looking at many of the people that originally had an income round up posts they have also stopped. Namely the most famous in the space Pat Flynn no longer does income round ups.
In this post I will cover…
Last Month Profit – $13,246.20
Name – Ron Stefanski
Website – onehourprofessor.com
Business Model – Authority Affiliate Site
Income Report – https://www.onehourprofessor.com/may-2020-monthly-income-report/
Key Lesson(s):
Checkout the video I did with Ron and be sure to read his gripping story here!
Last Month Profit – $8,738.29
Name – Johnny FD
Website – johnnyfd.com
Business Model – Mixed – Dropshipping & Investing
Income Report – https://www.johnnyfd.com/2020/05/income-and-expenses-during-lockdown.html
Key Lesson(s):
Ryan Robinson
Last Month Profit – $28,152.62
Name – Ryan Robinson
Website – ryrob.com
Business Model – Authority Website (affiliate earnings)
Income Report – https://www.ryrob.com/blog-income-report-april-2020/
Key Lesson(s):
Yeys
Last Month Profit – $5407
Name – Anne
Website – www.yeys.com
Business Model – Web Publishing Blog
Income Report – https://yeys.com/may-2020-traffic-revenue-report/
Key Lesson(s):
Honourable Mentions:
Although they don’t do exactly income reports, there are a few reports that are worth mentioning and when they publish new reports I will be sure to include.
Am I missing any I should include? Please drop a message in the comment section below with anyone I should include next month!
Several this month didn’t publish so I wasn’t able to include but will again when they publish.
It was 4 years ago today as I write this that I didn’t go to work at my at my “9-5” day job for the first time.
Every year I like to reflect on the decision to make the jump and any learnings.
Before leaving I had worked for 8years at Imperial Oil in a variety of jobs and although I for the most part enjoyed my job and appreciated the skills I was developing leaving has been incredible for both myself and more importantly my family.
Here are the new learnings from this year…
When I left the day job I felt like I was increasing my family’s financial risk level significantly. Despite having planned it out with runway I and many others thought that my decision to leave was increasing my family’s financial risk.
However, given the current economic outlook and specifically the outlook for the Oil and Gas industry I am certain my family’s financial security is far greater than if I had stayed at my day job. Layoffs are likely and job prospects within the industry are weak.
Talking with many of my old co-workers the outlook is not great. Although many of my businesses have done well over the last 4 years others have not but on balance it has been a good 4 years financially. However, even if it was not the options and skills I have developed I believe will make me more employable/able to generate income then if I had continued on the career trajectory I was on.
Many large employers are great at creating the illusions of job security but once you get outside of their intentionally created bubble the realization is that it was just an illusions and the perceived security is not as solid as you think
It is such a cliche to say they grow up fast but so often it is true.
This Image was a large part of the reason why I wanted to pursue online entrepreneurship.
Having the ability to get to spend time with both my family and some of the active activities I like (skiing & mountain biking) is something that simply would not have been possible
At the time of me leaving my day Job this was the timeline to retirement vs my age and my oldest Childs age.
Basically by the time I was 65 my oldest child would be 36 (my age) and the number of hours I would have spent with them would have been minimal.
Being able to work around the weather and get to go on an adventure (mountain bike ride, hike or trip to the cottage) during the summer is something I am extremely grateful for.
One “tip” or “suggestion” suggested to me multiple times is to focus on a single business. Although I believe this is likely good advice most of the time.
This year has been another reminder that launching new projects can increase my capabilities, allow me to tap new markets/diversify and learn new things.
Launching MotionInvest has been both fun and gone very well.
My thinking over the last year has evolved to have me focus not on reducing the number of new projects but focus on making sure any new project is tested as efficiently as possible. Testing new projects is great if it can be done efficiently and that is the new focus. Quick inexpensive tests of business opportunities with an unfair advantage to its first customers and ideally have some overlapping benefit to existing projects is the focus.
Focusing on a single project is likely good advice but I have both had fun and some success working to launch other projects since leaving.
My learning this year is to not fight this but work on getting better at building organizational capacity to launch these tests.
Another evolution of my thought over the last year is to try and really focus my personal time on compounding improvements.
As the window of time since leaving my day job grows my timeline really stretches out.
If my focus can be on any of these improvements that have a compounding benefit over time I know I am adding value…
Hustling for the next deal was something I had done for years and still do but making sure I am more focused on implementing improvements that will pay back over years and years as I extend out my time horizon is key.
Tracking my monthly income numbers was something that gave me a lot of focus while I was working to leave my day job.
Reflecting now on why I started down this journey is a very rewarding experience while also helping to shape some of my new learnings.
My hope with this post and serious is it provides a framework for others looking to make the job for them to know it is possible and ideally shortcut the long process I took.
Other Posts in this Series:
I Quit My Day Job – https://websiteincome.com/quit-my-job/
1 Year – https://websiteincome.com/1-year-quit-anniversary-what-has-changed/
It definitely isn’t business as usual these days. But these are the times that truly test you as a business owner. After all, many of the people on our list started these businesses for that very reason – to have control over their own direction. So while some of these entrepreneurs have seen signs of challenge, they all stay motivated and show a willingness to adapt. There are opportunities out there, you just need to find them.
#1 Takeaway – Follow the Trends – Due to situations outside of our control, things have changed an awful lot in the past months. However, with changing circumstances come changing consumer demands. Our #1 takeaway is to stay on top of these market trends, and identify where the new opportunities lie.
Quick April Update on my End:
My Reason for This Round Up:
When I started my online entrepreneurship journey I took a lot of inspiration from others that were sharing everything they did online. Seeing that people like me were making REAL money and that the opportunity to replace my day job was possible.
It has been almost 4 years since I left my day job – https://websiteincome.com/quit-my-job/
The more transparent the report the more I appreciated and was motivated by it.
Over the years I have tried to be as transparent as possible sharing along the way my goals, business successes/failures and the ultimate results(profits).
After years of sharing monthly income posts I decided that it made sense to stop these… a decision I actually regret as I wish I had found a way to keep sharing some of what I was doing.
My reason for stopping was my online world and “real” worlds became more connected and it was becoming very odd to share these numbers.
Looking at many of the people that originally had an income round up posts they have also stopped. Namely the most famous in the space Pat Flynn no longer does income round ups.
In this post I will cover…
Last Month Profit – $10,486.91
Name – Ron Stefanski
Website – onehourprofessor.com
Business Model – Authority Affiliate Site
Income Report – https://www.onehourprofessor.com/april-2020-monthly-income-report/
Key Lesson(s):
Checkout the video I did with Ron and be sure to read his gripping story here!
Last Month Profit – $4,552
Name – Lidiya
Website – letsreachsuccess.com
Business Model – Blogging
Income Report – https://letsreachsuccess.com/working-from-home-income-report/
Key Lesson(s):
Last Month Profit – no update this month
Name – Spencer Haws
Website – NichePursuits.com
Business Model – Authority Affiliate Site
Income Report – https://www.nichepursuits.com/get-ready-niche-site-project-4/
Key Lesson(s):
Last Month Profit – $8,738.29
Name – Johnny FD
Website – johnnyfd.com
Business Model – Mixed – Dropshipping & Investing
Income Report – https://www.johnnyfd.com/2020/05/income-and-expenses-during-lockdown.html
Key Lesson(s):
Last Month Profit – $37,103
Name – Jon Dykstra
Website – fatstacksblog.com
Business Model – Authority Website (display ads)
Income Report – https://fatstacksblog.com/income-report-for-april-2020/
Key Lesson(s):
Ryan Robinson
Last Month Profit – $21,262.60
Name – Ryan Robinson
Website – ryrob.com
Business Model – Authority Website (affiliate earnings)
Income Report – https://www.ryrob.com/blog-income-report-april-2020/
Key Lesson(s):
Create and Go
Last Month Profit – $203,457.16 (Quarterly Revenue)
Name – Alex & Lauren
Business Model – Affiliate Blog & Online Course
Income Report – https://createandgo.com/blog-income-report/
Key Lesson(s):
Yeys
Last Month Profit – Negative $721
Name – Anne
Website – www.yeys.com
Business Model – Web Publishing Blog
Income Report – https://yeys.com/april-2020-traffic-revenue-report/
Key Lesson(s):
Honourable Mentions:
Although they don’t do exactly income reports, there are a few reports that are worth mentioning and when they publish new reports I will be sure to include.
Am I missing any I should include? Please drop a message in the comment section below with anyone I should include next month!
We all know that it isn’t business as usual these days. In February, many businesses were not as affected, but were starting to see things take shape. This next while will surely test as business owners, as it will test everyone else.
