February Income Report – New Opportunities
I have big goals for 2016 and planned on coming out of the gate quick this year.
My usual busy online work schedule has been even busier with me finding a little more time in my day to do some work. Even a few 5-10 minute times during the day can add up!
Certainly February was not without its challenges and I am happy to share everything including both the good and the bad!
My new monthly report format will focus on my 4 main business “divisions”…
- Passive Income Website Portfolio
- AuthorityWebsiteIncome Blog
- SEO &Expired Domain Services:
- Amazon FBA Business
- Six Figure Website Sale–Closed a creative deal which made the size of the pie larger for everyone. Initially it looked like a deal was not going to be able to happen but then we looked at some creative options which resulted in this great deal for everyone involved.
- Pushing Through Failures – February through a few punches as listed below but the business was able to respond well to all of them and quickly get over them. Problems = Progress!
- Interesting Opportunities – As is always the case ideas/opportunities seem to come at times of highest action. February brought a few unique ideas/opportunities my way in addition to the sale mentioned above. I am looking forward to sharing more!
- Diversified Income – I do believe if my goal was to maximize my total income/net worth I have my hand in too many pots. However, my goal which is subtly but significantly different is to provide financial freedom/security to my family which means stable/robust sources of online income are key. The last few months have showed the benefit of this approach with income staying reasonably stable while each individual part of the business experiencing its own seasonal swings.
- Family Sick – We had a couple bugs churn through our entire family for 2 weeks. My priority is always taking care of my family and as a result I had less time/energy to put towards the business for a couple weeks. I talk like I was helping take care of my family but I am much worse at being sick than my wife who had to take on even more work than normal.
- Sale of FBA Business is Complex – I was hoping to be able to quickly and cleanly sell my FBA business but have realized that this sale will need to be a little more creative than a simple sale of an online business.
2016 Business Goals
Below is my businesses main goals for 2016
Part 1 – Passive Authority& Niche Website IncomeProfit/Loss
3 Goals in 2016 for my Website Portfolio Business
1. Systematize Top 20 Sites in Portfolio
Feb Update – Lots of room for improvement on the monetization side. I am contemplating what the right structure is for my team and sites. Right now I generate $10k/month+ and considering if I should bring in some higher level dedicated help to really work on improving these sites with them getting a % of the upside. Right now I am simply wrestling with how to best structure a team to manage the higher level monetization testing questions. My team can execute the content and backlinks simply but based on the success of the new owners of my Six Figure Website Sale I clearly have a lot of room for improvement!
2. Buy 1 Site Per Month
Feb Update – My plan is to add 1 site a month to my portfolio and I did that in Feb with a little site.
- GOAL = 1 Website
- ACTUAL = 1 Website Purchased in February
If any readers are looking to sell their profitable site(s) VERY QUICKLY let me know by emailing me. I can let you know in 12hrs if I am interested and complete the purchase in 24-48hrs – Contact Me Here
I have found the right sellers are those…
- Looking to sell FAST (under 24hrs has been accomplished!) (shorter time for due diligence on my end increases risk for me)
- Not wanting to spend a lot of time on the sales process (analytics and income proof is all I need)
- Sites are medium-questionable quality (questionable SEO, non-native English articles are OK)
- High quality sites making over $500/month often make sense to sell via other channels (EmpireFlippers is a great marketplace)
- Understand that the benefits of the bullet points above means the sales multiple will be lower
If you have an Amazon Affiliate site you are looking to sell fast please let me know – Looking to buy fast at market value!!
3. Sell Websites Strategically for $100k Total
Feb Update – SUCCESS (kinda)! Very happy to have a success on this front early in the year! Well kinda… the sale includes the option to buy for $100k but for now it includes a “rental” option plus up-side consideration. More details about the creative structure here.
PRIMARY GOAL – OVERALL INCOME FOR WEBSITE PORTFOLIO
Part 2 – Authority Website Income Blog Profit/Loss
3 Goals in 2015 for AuthorityWebsiteIncome.com
1. Post Once PerWeek
Jan Update – Never missing a week will be a challenge for me but I am committed again to making this happen!
- Plan = 4
- Actual = 4
2. 10x my Outreach
Feb Update –1 podcast interview completed and participated in several outreach round-ups. Not the level of effort I need here!
3. Site Redesign – Completed!
Feb Update – Continuing to tweak but I can call this one complete!
PRIMARY GOAL – GROW TO 30k VISITORS PER MONTH
Feb Update – 30% year over year increase and traffic solid but not amazing yet! Need to continue publishing VERY useful content every single week.
Part 3 – Services Business Profit/Loss
4. Systems Overhaul/Refresh – This one hasn’t started yet but I have a plan for it mapped out. We need to better establish auditing of our existing procedures and over time some of the procedures have gotten stale. This is unbelievably boring but incredibly important work!
5. Improve email marking and sales automation – In January I started down this road moving all contacts over to ActiveCampaign but have not fully fleshed out the sales automation yet!
6. BrandBuilders.io Becomes The Go-To Resource for Done 4 You Amazon FBA Private Label Websites – Great progress on this one in January with a podcast interview at TheAmazingSeller.com and several VERY happy customers.
PRIMARY GOAL – STAND ALONE SYSTEMATIZED SERVICES BUSINESS IN 2016
Part 4 – Amazon FBA Business
- Sell FBA Business for 30x with 3+ SolidMonths – Progress in February has been hit and miss. Based on the age of the site it is clear that a clean sale is going to be tricky, however, some creative options are definitely on the table.
- Launch Brand #2 – For my next FBA Brand February was a slow month for getting it moving. Samples that arrived were not ideal.
- Launch Brand #3 –An opportunity for Brand #3 is moving quickly and I am excited about its options! This brand is where I will be investing the majority of my FBA time in March getting it up and running!
FBA Business Results
Overall Income Update
Original Monthly Net Income Target (original goal $15k/month reliable income by age 35)
- Target Net Income = $8,475
- Actual net Income = $28,899.66
- 2016 Average Monthly Net Income = $28,763.75 (stretch goal is 30k average for the year)
Gross revenue is a vanity number for my business and not shared
Continued strong results for the business! It is time to work harder/push the team more and ensure all gains are not fleating!
Look for the launch of an exciting new idea in March/April! Jumping into a business model that I have always wanted to but never had the right solution/team… I have both of those now and very excited to see where we can take the newest venture!