I usually like to start business reports with an image of the exotic location I’m writing from. However, now I find myself back in London – in very familiar surroundings.
Where have I been these last three months?
The last business report came from Cambodia. I was travelling in April through Thailand, Cambodia and Vietnam, slowly making my way to Chris Ducker’s Tropical Think Tank – a boutique business event in the Philippines in May. After which I came back to the UK and I’ve been here ever since.
What have I got done?
I’ve been travelling, migrating my membership site from MemberMouse to DAP (don’t ask) and moving hosts from Vidahost to LiquidWeb. However, I’m pleased to say that I’ve published a book and a video course in the last two months. This sounds good but I’d been writing the book for more than six months, off and on.
- New book: Free Your Thoughts: How I Re-programmed Myself For Happiness And How You Can Too
- New course: How To Become A Logo Designer
What has caused this increase in productivity? Mostly, my business coach, Steven Aitchison. He has been a great encouragement and has also held me accountable. I would advise anyone to join masterminds or find “accountabili-buddies” to hold you to your goals.
A humbling drop in passive income
As many of you know, I publish my passive income reports every quarter. The total passive income revenue from the last three months was a disappointing $13,578.49 compared with $21,624.45 in the previous quarter.
There were many reasons for this downturn in passive income:
- Udemy income down
- Lack of “windfalls” from my membership site
- Higher than normal investment in outsourcing and software
It’ll be interesting to see how my new product impact on the figures for the third quarter.
My attitude to money
A humbling drop in monthly passive income is probably good for my inflated ego. The worst thing about it is that everyone can see this “failure” on my income reports.
Half of me wants to have a real go and bounce back with huge earnings in the next quarter. Whereas the other half of my says, “Oh WTF, who needs money anyway? Does it make a difference to my happiness?” No!
Philanthropy, gifting and donations
I really enjoyed an episode of Pat Flynn’s Smart Passive Income podcast about philanthropy with Dale Partridge talking about his new book People Over Profit (which I haven’t read). In it I was introduced to this Ann Frank quote, which I’d never heard before: No one has ever become poor by giving.
So I’ve started thinking about building in more gifting and donations into my business because, at the end of the day, just making loads of money is completely pointless.
I used to add the donations to the expenses of my income reports but I’ve decided to take them out and put them in here – to the business reports.
Here are the charities I give to on a monthly basis:
I gift $250 a month to the above three charities. I need to think about ways I can add to this in a meaningful way for my business.
“Exercise more”, “meditate more”, “eat more healthily” and “help people” are my usual (not very good or specific) personal goals.
If there’s one benefit to a northern european climate it would be that you can go running outside most of the year. So the exercising has been better. My meditation practice has been slightly better as I haven’t been travelling around so much.
Specific business targets
Here are specific targets that I set three months ago and more targets for three months’ time.
|Target||Q2 2015 Target||Q2 2015 Actual||Q3 2015 target|
Both the passive income and traffic targets were missed! And I have revised the targets for next quarter downwards.
General business targets
Last quarter I had three targets. Here’s how I got on:
- Publish a new Kindle book ✓ Target Hit! Free Your Thoughts: How I Re-programmed Myself For Happiness And How You Can Too was eventually published on June 3, 2015
- Publish a new video course. ✗ Target Missed! I finally managed to release How To Become A Logo Designer last week so not inside the second quarter.
- Double the engagement on my Facebook Page. ✗ Target Missed! Here is a Facebook Page engagement rate calculator. I’ve been inspired by a course by my friend Steven Aitchison called Your Facebook Challenge. I’ve been working hard on my Facebook Page but my engagement rate is stubbornly still 6.74% – but at least the Likes are up.
Here are my business targets from now until the end of the third quarter 2015:
- Publish a new Kindle (or two) so I’ve done Free Your Thoughts, all I’ve got to do now is Free Your Finances, Free Your Time and Free Your Location. It should take a couple of weeks to write a Kindle book so I’m hoping to get these done by the end of the year.
- Create a new video course I’m not too sure what about.
So I’m going book, video course, book, video course, book, video course … until the end of the year. Hopefully I’ll do one a month. Basically, the idea is to double down on Udemy and Kindle. Udemy is really the cash cow at the moment. Kindle has never brought much in but I enjoy writing books.
I like to keep an eye on these indicators.
|Indicator||30th Sep 2014||31st Dec 2014||31st March 2015||30th June 2015|
|My Twitter followers||2842||2959||3071||3186|
|My YouTube Channel, subscribers||1843||2309||2802||3113|
|My YouTube Channel, video views||486,948||566,054||639,658||697,134|
|Facebook page Likes/Fans||822||1010||1129||1510|
|Subscribers to RobCubbon.com||6692||7511||7910||8429|
Not much movement here. But at least the Facebook Page seems to have put on a spurt.
What do you think?
What do you think about my passive income drop? What do you think about my Udemy and Kindle targets?