August is typically a month where lots of online entrepreneurs enjoy the summer weather. Many of the reports below mention their appreciation for a source of income that gives them the flexibility to enjoy life in the summer!
#1 takeaway – Risk Mitigation: As entrepreneurs we are constantly pushing forward and sometimes don’t do the little things to make sure our business risks are mitigated. This often takes the form of relying on 3rd party services (email, hosting, payment processing, passwords etc) to hold our critical business data. There were 2 people this month that had scares which could have been a lot worse regarding 3rd party services holding their site and websites email list. My #1 takeaway this month is to refresh my monthly task of ensuring up to date backups of business critical infrastructure is taken!
#2 takeaway – Prolific Commitment to Content: Many of the successful businesses in this group use the word “investment” and not “expense” when discussing content. The most expensive single outlay of capital by far is content for most of these businesses.
- 24k word pieces of content
- $10k worth of content in a new site before the first monetization method is tested
- 39 blog posts in a single month
- $5k-$20k in content investment per month
- 75% of monthly expenses every month is an investment in content
- 3 podcasts, big industry reports, content updates and 5 person marketing team!
This analysis has me doubling down on the creation of some incredibly useful pieces of content (plus more than just words) that are in the works and coming out soon!
Quick August Update on my End:
- I have a significant focus on adbank.network and blade.software but in the rest of my business here were some of the key activities for Aug…
- August was busy putting the final touches on the entity of MotionInvest.com and getting it ready for our soft launch in Sep and a larger push coming soon.
- A rededicated focus the last 6 months to an ecommerce store with consistent content and executing 1 solid upgrade strategy per month has paid off with the sites best month in over 2 years!
- ContentRefined was finalizing the plan for a couple big pushes in September during August including some team re-org.
- My family summered hard with the kids out of school enjoying the cottage and lots of mountain biking
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 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 was as my online world and “real” worlds became more tangled.
Looking at many of the people that originally had an income round up they have also stopped. Namely the most famous in the space Pat Flynn no longer does income round ups.
I will cover…
- List of inspiring income report posts and how they earned their profits
- Recognize motivating people showing not just telling people the results they are achieving
- Learn from others – What the key learning is from the people
Last Month Profit – $17,131.22
Name – Ron Stefanski
Website – onehourprofessor.com
Business Model – Authority Affiliate Site
- The overall growth rate has been incredible! (look at the graph below)
- Technical challenge cost Ron a lot with a site being updated and having a noindex, nofollow not removed when the site was moved from staging to production
- Content is by far the biggest expense with a $10k investment in content in a new site without turning on any source of earnings from it
Last Month Profit – $4,590
Name – Lidiya
Website – letsreachsuccess.com
Business Model – Blogging
- Interesting self reflection on aiming to make six figures from blogging
- 39 blog posts published on her site in August! Continues to publish prolifically
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/
- No update this month
Last Month Profit – $4,026.72
Name – Johnny FD
Website – johnnyfd.com
Business Model – Mixed – Dropshipping & Investing
- One of the only people on here whose business model is dropshipping via a shopify store. It can be a great model with a few more moving parts/opportunities for optimization vs a typical content site
- With a busy fall travel schedule he seems to have really prioritized the lifestyle side for the month with lots of gym time and relaxing time!
Last Month Profit – $38,047
Name – Jon Dykstra
Website – fatstacksblog.com
Business Model – Authority Website (display ads)
Income Report – https://fatstacksblog.com/income-report-august-2019/
- Jon had a scare this month where he thought his database of email subscribers may have been lost! This is not something that I have historically backed up but based on Jon’s scare I am adding it to my monthly task of backing up critical business data!
- Optimization mindset – Jon is great at always looking at tweaks to make small incremental improvements! For one site he optimized image hosting saving him $300/month, he jokes that it will help pay for netflix but in all reality if he continues to find a $300/month savings every month in 1 year his entities value will have increased by over $100k (monthly savings 300×12)*(business valuation 3x annual earnings)
Last Month Profit – $30,814
Name – Ryan Robinson
Website – ryrob.com
Business Model – Authority Website (affiliate earnings)
Income Report – https://www.ryrob.com/blog-income-report-august-2019/
- This is the first month I have had Ryan on here, Maddie from ContentRefined who was on his podcast here mentioned I should include him!
- Epic Content – Ryan has really focused on producing incredibly large posts 5000+ word minimum with some monsters at 24k words like his how to start a blog post
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.
This month there is one other report I want to feature…
EmpireFlippers – Quarterly Report
$498k/month Revenue in Q2 2019 Published Aug 26, 2019
- Compounding growth over 6 years “If you roll up your sleeves, commit to work every day, and have a vision of the future for your business, then the compound interest you’ll gain might just change your life.”
- Content consistently everywhere, their content push on giant industry report, 3 podcasts, content updates to existing content has all resulted in over 50% of their inbound traffic being organic.
Am I missing any I should include? Please drop a message in the comment section below with anyone I should include next month!