February Income – Worst Month
This monthly report hurt to write…a substantial down month in the services business hits the bottom line!
For 2015 I have set new goals and each months income/goals progress report will reflect my slightly adjusted focus.
This monthly report will share all the details about the different “divisions” of my business and the progress towards each goal…
- Passive Income Website Portfolio
- AuthorityWebsiteIncome Blog
- Expired Domain Services:
The purpose of these posts is both to keep me accountable as well as share the details about how I am going about building an online business on the side.
Hopefully this post will give you some ideas on how to grow your business!
- Quality of Lightning Rank and PBN Sites – The quality of both LightningRank and customer PBN sites has continued to improve with some of the articles on the LightningRank sites ranking on the first page along with the clients money site.
- Six Figure Challenge Group – The six figure challenge I announced at the end of 2014 has started out great with some fantastic people in both the private and public group.
- 30 Minute Cost Cutting Effort – My wife who likes to dig into stats dug into all the business expenses and identified all recurring expenses. Several of which I was easily able to consolidate and eliminate saving over $2,000 for 2015.
- Time & Focus – I could make a lot of excuses here (1 month old baby daughter, new role at my day job etc) but the fact is I need to have better focus and take better advantage of the time I have to get work done.
- Sharing Six Figure Challenge Details with You! – I am wanting to be releasing more information on the exact step by step details and will do so in the future but just haven’t been able to find the time. The posts by the private group have been fantastic and lots can be learned along with others who have shared their journey in the free public group.
- Email Open Rate & Click through Rate Drop Off – Due to some changes at AWeber I didn’t take the time to understand my email open and click through rate ultimately cut by 40%! After testing both GetResponse and AWeber it everything has been fixed and I am sticking with AWeber..
- Services Business Loss – The services business has a natural up/down swing with the service selling out when I open and then the next month is dedicated to building out those sites. However I had never had a substantial negative month until February.
2015 Business Goals
Part 1 – Passive Authority & Niche Website Income Profit/Loss
No matter where my future business direction I would have a very very hard time giving up the fun of building, buying and running profitable websites.
It is hard to imagine a better business asset then a passive website that brings in money while you do nothing to it. Of course it is never that simple but the concept is thoroughly addictive!
5 Goals in 2015 for my Website Portfolio Business
- Build Six Figure Website
FEB UPDATE – Decent progress in January, project manager is doing great and content is now getting churned out at a rate of 1 quality article per day.
I broke through the income barrier making $77 in January and had my first 100 visitor day.
A more detailed post updating exactly what I have been doing is in the works.
- Continue Building Smaller Profitable “Niche” Sites
FEB UPDATE – My aim here is to test out a new system, increase the number of profitable sites I have and finally show how people if they want to can build profitable niche sites in 2015.
- 32 (+18 sites) as part of detailed test underway
- Minimal income but solid traffic to a couple already
- Obvious some will be winners and some will be losers…not sure where the average will be yet
- Systematize Top 20 Sites in Portfolio
FEB UPDATE – No progress on this front, my focus is on the six figure site getting it moving.
- Buy 2 Sites Per Month
FEB UPDATE: I added a nicely performing site to the portfolio at the start of February, it was a good deal for everyone involved with the seller looking to get funds quickly.
- GOAL = 4 sites
- ACTUAL = 9 site
If any readers are looking to sell their profitable site(s) 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
5. Improve Monetization of Existing Sites
FEB UPDATE – Similar to above, no time/effort spent on this yet which is too bad since I know there is a lot of low hanging fruit!
PRIMARY GOAL – OVERALL INCOME FOR WEBSITE PORTFOLIO
Part 2 – Authority Website Income Blog Profit/Loss
My commitment on this site is to provide once per week posts from me in and one MONSTER of an ultimate guide a little later in the year.
3 Goals in 2015 for AuthorityWebsiteIncome.com
- Post 1-2 times per week
FEB UPDATE – Finally, some consistent posting on AuthorityWebsiteIncome!
- Plan = 4
- Actual = 7
- Be More Involved in Roundups, Interviews & Commenting
FEB UPDATE – Not as much involvement as I would like…
- Interview = 1
- Roundup = 0
- Podcast = 0
- 2 EPIC Posts Published
FEB UPDATE – Right now I am working on both the data for the niche site test which will eventually be turned into an epic post (assuming the results work) and my six figure challenge attack plan will be turned into a monster of a post.
PRIMARY GOAL – GROW TO 30k VISITORS PER MONTH
Part 3 – Services Business Profit/Loss
- Create Stand Alone Business
FEB UPDATE – No progress towards this, this will come after #2 below has more progress.
- Rework and Customize Systems
FEB UPDATE – Starting to work through each system and identify how we can combine them most efficiently.
- Systematic Customer Acquisition
FEB UPDATE – No progress planned until later in the year
PRIMARY GOAL – STAND ALONE SYSTEMATIZED SERVICES BUSINESS
Weak progress in January on this front!!
Overall Income Update
Original Monthly Net Income Target (original – $15k/month reliable income by age 35)
- Target Net Income = $6,200
- Actual net Income = $2.787
- 2015 Average Monthly Net Income = $9,341
OUCH! Well I promised to share the good and the bad everything but my password. So there it is. Feb was a month where lack of focus on my part and a slower services business hit the bottom line. In fact if it weren’t for the last week of the month it would have been a negative month across the board.