So, spring is here (ahem, it’s freezing outside) and it’s time for me to look back on the last quarter to see how I’ve done plus set some goals for the next 3 months.
Last year, I made $8,553 passive income. And the year before (I wasn’t really counting) I made around $1000. So I’m really trying to “up my game” on the passive front. However, it ain’t easy!
My passive income
My target for this quarter was $3,000 – let’s see how I’ve done.
My passive income for these reports is divided into two sections: product sales and affiliate sales.
Sales of my products
I’ve been trying (and trying hard) to get more products out there. In fact (see below) having a product ready before the end of this quarter was one of my goals.
So far, my products are these two e-books:
- How To Get Clients about how to set up online, blog, use social media, relate, communicate, start an online business.
- Running a Web Design Business which is about, er, running a web design business.
Here are the sales from these books from the last three quarters:
|My product||2012 Q3||2012 Q4||2013 Q1|
|Running a Web Design Business||$570.59||$375.24||$511.21|
|How To Get Clients||$238.16||$232.09||$26.47|
Ouch! I’m noticing a trend here, and it’s not one I like.
My new product!
These last two months I’ve been locked away creating a course at Udemy called Creating a Business Website with a Responsive Design which is a 4 hour video course where I teach how to create this site. The whole experience was enjoyable apart from giving me a ScreenFlow-related RSI injury (I couldn’t move my neck for a few days!)
The course has only just been published and so far has 13 subscribers so I’ll include the passive earnings from this into my next quarterly report.
Affiliate commissions can be earned where a special type of hyperlink on your site is clicked to a product seller’s site and a purchase is made. For example Genesis – a WordPress theme, WPML – a WordPress plugin and iContact – an email delivery service.
|Affiliate product||2012 Q3||2012 Q4||2013 Q1|
|Genesis WordPress theme||$493.45||$778.79||$76.94|
|WPML WordPress Multi-Lingual plugin||$229||$315||$397|
|WishList Member WordPress membership site plugin||-||$87.30||-|
|VPS.net VPS hosting||$85||$85||$340|
|A2 VPS hosting||-||-||$170|
|Bluehost shared hosting||$715||$130||-|
|GoDaddy domain name registration||$5.69||$17.43||$31.66|
|E-Junkie shopping cart system||$7.20||$7.20||$10.80|
|Aweber email marketing and delivery||$36.30||$29.40||$37.20|
|iContact email marketing and delivery||$163.80||$355.99||$137.97|
|Tara’s logo course||-||-||$199.50|
In a word, disappointing. So, what happened? Well, people are obviously buying the Genesis theme less and maybe that’s because I haven’t done any Genesis-specific tutorials recently and, as you will see below, my traffic has taken a nosedive since Christmas, although that’s only really my calendar traffic trailing off for seasonal reasons.
Another reason was not keeping my eye on the ball. I’d made a mistake on Commission Junction and some affiliate links had been working but not paying. You have to watch out for things like that.
So, if you add my income from sales of my e-books this quarter, $537.62, together with income from affiliate sales, $1499.33, you get a total of $2036.93. This is well under my target of $3,000. Poo!
Specific business targets
Here are my specific targets that I set three months ago and more targets for three months’ time.
|Target||Q1 2013 target||Q1 2013 actual||Q2 2013 target|
|Monthly unique visitors||50,000||36,500||40,000|
So, having missed my passive income target so spectacularly, I’ve set the same target for the next 3 months, $3,000 – let’s hope the new Udemy course is a success so I can reach that by the end of June 2013.
And, as for the traffic, this is perhaps the most worrying stat of all. As I get such a boost towards the end of the year because of the immense calendar traffic I get, I really haven’t been noticing that the rest of the site isn’t performing so well. I have to address this issue and, at the moment, I’m not sure how. Any ideas would be gratefully received. So, I’ve set a target for 40,000 visitors for the month of June, that’s going to be a challenge.
General business targets
Right! Now time for some tough love. My passive income figures are moving in the wrong direction and the traffic figures are disappointing. I’ve got to get serious here and do something!
My products so far have been generally well-received. My two e-books, How To Get Clients and Running a Web Design Business, have netted me more income than if I’d been charging a client an hourly rate.
Passive income is cool!
I’ll endeavour to create more products. One of my goals from the last quarter was to create a video course and I have at last done that: my responsive design Udemy course which has just been accepted (see video above).
So I’ll therefore try to create two more video courses by the end of June. Hold me to it!
Now my follower numbers …
|Indicator||30th Sept 2012||31st Dec 2012||31st Mar 2013|
|My Twitter followers||1891||1884(!)||2,093|
|My YouTube Channel, subscribers||212||280||409|
|My YouTube Channel, video views||106,729||143,049||183,271|
|Facebook page Likes/Fans||291||339||406|
|Subscribers to RobCubbon.com||5,031||5,488||5,949|
If anything, we can see that YouTube is maybe growing faster than anything else. Another reason to create more video courses.
One of my personal goals for 2013 was to help people. I’ve been trying with this although with mixed results. One idea I had was to do a free website design and development for some organisation or non-profit that needs help. Let me know if you have any ideas on this.
I’ve been keeping up with my physical fitness and T’ai Chi, although sitting at a desk for long periods really doesn’t seem to help!
What do you think?
So, another quarter, another business report. This one was difficult to write as it wasn’t the most successful three months. What do you think of my plan to create new video courses? I’m always pleased to hear your feedback.