February Income Report – New Records

February was a short month but all parts of my business saw success this month! With record revenue and net income numbers again I am happy to be ahead on my progress for all my stretch goals. However, being a little behind in my most recent PBN orders means I will likely incur a lot of expenses in Mar with little in the way of PBN services income so could potentially see a dip in earnings in the next income report.

This monthly report will share all the details about the different “divisions” of my business…

1. Passive Income Website Portfolio
2. AuthorityWebsiteIncome Blog
3. Expired Domain Services (Domain Finding Service, Done for Your Private Blog Network)

One thing I have realized with my new format is that it provides more than vanity numbers and actually lets me make data driven decisions on what changes I should be making in my business!

Key Successes

1. Successful launch of my PBN service which sold out in a little over 24hrs. If you are looking for my team to build you a relevant PBN make sure to get on the early notification list – here
2. Anytime I set a new net income and revenue record I have to count it as a success.

Key Failures

1. Working in my business and not on it. There is the right balance between staying in the details working the system and also working to build systems. In February I got behind and felt like I was not able to move the business forward but only maintain. No new systems were created and I was simply executing already existing systems and responding to emails. If I continue with that my business will hit a plateau. Changes will need to be made for me to continue to build out my business and not simply work in it.
2. Launching my next big website project has had delays. Although I have had the domain, content, strategy and VA laying the ground work I have not done the work I need to do to get the newest niche site off the ground. This is putting me behind schedule on my passive income portfolio project.

2014 Business Goals

Here is where I share my progress towards each of my key 2014 goals…

Here they are…

2014 Goal #1 – Increase the number of sites making over $100/month to 15 by building, buying or growing 8 quality sites.

2014 Goal #2 – Publish 52 Posts on Authority Website Income. For the growth of this blog there is nothing more important than consistently producing great articles every single Monday.

2014 Goal #3 – Produce 1 ULTIMATE post that will put my Ultimate Guide to Expired Domains to shame!

2014 Goal #4 – Automate the entire fulfilment process for my services side of the business while also improving quality.

2014 Goal #5 – Launch a new game changing business/service (this one I will not share until the time is right)

2014 Goal #6 – Continue ahead of the monthly net income curve targeting $15k/month in reliable online income by the age of 35.

Stretch Income Targets (BHAG)…

• Hit my undisclosed “money in the bank” target
• Average $10k/month net income for 2014

Part 1 – Passive Authority & Niche Website Income Profit/Loss

Not a lot of focus went into this part of my business in February and it shows, I am behind schedule and not sure if I will be able to catch up in March as much as I need to.

The website purchases of last month are performing well and happy to have it added to my portfolio.

If anyone is looking to sell their profitable site(s) quickly let me know by emailing me.

• # of greater than $100/month Sites = 8 (no change this month)
  • Sites:
    • PMSL
    • OIC
    • ACLSR
    • GFD (purchased)
    • RBC
    • RFNF
    • BCR
    • IF (purchased)
• Revenue = $2,533.47
• Costs = 362.82
• Net Income = $2,170.65

Feb Comment – The portfolio did ok but is still anchored by too few sites. I need to put effort into growing some more profitable websites.

Public Case Study Site Status

AuthorityWebsiteIncome started with one case study – This site was started the same day as my case study site and every month I documented in detail exactly what I did to grow the site. It turned into a great site for me earning over $3k/month in its peak months and helped launch AuthorityWebsiteIncome. The monthly case study income reports have grown beyond just one site but I want to keep tracking this site separately from all the others so everyone can keep tabs on it.

• Net Income = $1,493 (+60%)
• Traffic = 8,316 (-29%)
• Citation Flow = 33 (+1)
• Trust Flow = 20 (+2)

Feb Comment – January saw an uptick in traffic and as a result February had an uptick in revenue. Traffic has settled back to the pre January rush.

Progress on Key 2014 Goal…

2014 Goal #1 – Increase the number of sites making over $100/month to 15 by building, buying or growing 8 quality sites.

Progress:

Feb Comment – In January I had a solid purchase with the intent of in February adding a solid performer by growing it to the mix but no luck as other priorities took my time. I need to build a site out in Mar to ideally ad it to the list in Mar or April as a $100 earner.

Part 2 – Authority Website Income Blog Profit/Loss

One of my favourite parts of my business in 2013 was running different tests and experiments then sharing the results with the audience here on AuthorityWebsiteIncome.com. Expect once per week posts from me in 2014 and one MONSTER of an ultimate guide a little later in the year.

• Visitors = 13,031 (+5%)
• Subscribers = 2,071 (+8%)
• # of Posts = 4
• Affiliate Income = $842.87 (-27%)

Feb Comment – This site does not put a heavy focus on promoting products but it is a solid earner every month. There are no plans for March to change my approach and expect each month to be in the $500-$1000 range. Email subscriber growth continues, I may try a few things to increase the number of subscribers next month.

Progress on Key 2014 Goal…

2014 Goal #2 – Publish 52 Posts on Authority Website Income. For the growth of this blog there is nothing more important than consistently producing great articles every single Monday.

2014 Goal #3 – Produce 1 ULTIMATE post that will put my Ultimate Guide to Expired Domains to shame! Plan is in motion but it will take several months to assemble all the moving parts.

Part 3 – Services Business Profit/Loss

The key metrics I am going to share on this side of the business each month include…

• #  Sites Built = 69 (+60%)
• # of Domains Found = 59 (-45%)
• Net Income = $9,180 (+17%)*

Note about the Net Income – each month varies greatly since the expenses for building the sites incur the month the sites are built while the income occurs the month the sites are sold. So there are months like December where I only have a handful of new clients but I am still building sites for all the others who paid in the previous month. For the accounting purists, yes, I am aware I am violating a GAAP accounting principle (revenue is to be counted in the months the expenses to earn the revenue are realized – but that creates more accounting headaches for me).

Progress on Key 2014 Goal…

2014 Goal #4 – Automate the entire fulfilment process. I am personally still approving all domains and supporting client’s requests.

No progress this month on this important goal! I am still in charge of approving all domains!

2014 Goal #5 – Launch a new game changing business/service (this one I will not share until the time is right)

Something is in the work 😉

Overall Financial Goals

Original Monthly Net Income Target (original – $15k/month reliable income by age 35)

• Target Net Income = $4,100
• Actual net Income = $12,194

“Money in the Bank” Target

For those that have been trying to track their online income and reconcile with money in the bank it doesn’t take long to realize just because you think you made $1k in a month your business bank account doesn’t go up by $1k that month. The reason for this is that it takes some time for advertisers to pay their affiliates. Plus, some affiliate commissions you earned will be voided in the next month and you will not be paid for that commission you thought you made.

So for this reason a metric I am going to track in 2014 is my Money in the Bank target. Although I share a lot I am choosing to not actually share my bank balance…I will simply make it a % of my overall goal.

Feb Comment: All financial goals were achieved in February and the money in the bank growth was better than expected.

2014 Monthly Income Target

This is another big time stretch goal. In 2014 I am targeting to average $10k/month in net monthly income.

RUNNING AVERAGE = $11,667

• January = $11,141
• February = $12,194

Final Comments

Another strong month but with lots and lots of work for my team to do in March I expect my net income to be lower. Overall though all parts of my business are moving in the right direction, just falling behind in my passive income portfolio business but I will be putting effort into it this month.