We’re at the mid-way point of the year. The days are getting shorter. Summer turns to winter. Time to see what I’ve done and where I’m going.
If you haven’t been here before, welcome to the second of my three-monthly online passive income and business reports of 2014. Why is there an image of a cat above? Why not!
My passive online income
I have a big love for passive income. Why? Because it’s scalable. Passive income (digital product sales, affiliate and advertising income) can increase without an equivalent increase in effort or investment. You’ve just got to be smart. My passive income target for the three months until June 30th 2014 was $9000. Let’s see how I got on.
- Creating a Business Website with a Responsive Design
- Build Your Brand: Blogging, SEO, Social Media & Relationships
- Running A Web Design Business
- Designing A Website in Photoshop, Illustrator (& GIMP)
- Create A Custom Responsive WordPress Website For A Client
You can purchase any of these courses at a discount if you click one of the links above. Here is my Udemy revenue:
My Udemy courses have brought in $6382.89 this quarter.
Important: Udemy have just changed their instructor commission and promotions rules again. Unfortunately, a main part of my Udemy strategy was to create free courses and promote discounts to the people there. This is now not allowed so it’ll be interesting to see how these new changes affect my revenue.
Whoa! What’s this, a new kid on the block? Udemy is just one online learning platform where you can sell video courses. There are many others and none of them insist on exclusivity, so I’m experimenting with others at the moment.
One of them is Skillfeed, an online learning platform from Shutterstock, the stock photography website. They have a completely different income model from Udemy. They charge $19 a month for access to all the courses. So course creators are paid per minute watched. I have all my Udemy courses (both free and premium) plus a lot of YouTube videos on Skillfeed.
So, it’s definitely not as lucrative as Udemy but it’s worth being there. All you have to do is upload your course videos (direct from Dropbox – nice and quick) and that’s it!
New courses tend to do very well on there at first but the viewing figures take a serious nose-dive after the first month so, now that I’ve got all my courses on there, I doubt if the next quarter’s figures will be as good. But we’ll see how Skillfeed pans out
Here are my books:
- Running A Web Design Business From Home: How To Find and Keep Good Clients and Make Money with Your Home Business
- How To Sell Video Courses Online: How I make $2000+ passive income every month
- From Freelancer to Entrepreneur: Escaping work and finding happiness. Buy this one. No one is buying it. It’s really good.
I believe that everyone should consider writing a Kindle book of 12,000 words or more. And, look, Amazon have given us a new sales dashboard to play with! I sold 478 books in the period from April 1st until June 30th. An average of 5.25 a day. As you can see from the red line above this fluctuates wildly as my record is 13 books a day and some days I sell none! The blue line is for books borrowed. Now that Amazon gives you the figures immediately I can give you an exact figure of how much I earned with my Kindles in Q2 2014: $965.09.
Sales of my PDF e-books
I sell two PDF e-books from this site:
|My product||2013 Q3||2013 Q4||2014 Q1||2014 Q2|
|Running a Web Design Business||$338.22||$157.87||$178.79||$123.52|
|How To Get Clients||$21.20||$42.40||$72.93||$103.13|
I don’t promote these much but you can get to the sales pages via the top navigation menu and I also advertise them elsewhere. Interesting to see that the poorly selling title How To Get Clients is doing a little better nowadays. I’ve no idea why.
Google advertising income
Google pays me for my YouTube channel as well as the unobtrusive ads here on my website in British Pounds around the 25th of every month. I convert these payments to dollars and share the amount here. Unfortunately, I didn’t get a payment in May as my earnings were so low. I don’t know why. My YouTube video views are picking up now so, hopefully, this will improve next quarter. Total income from Google this quarter: $315.54.
|Google revenue||2013 Q4||2014 Q1||2014 Q2|
I am an affiliate for certain products that I recommend or mention here. I get a commission if a sale is made through one of my affiliate links.
|Affiliate product||2013 Q3||2013 Q4||2014 Q1||2014 Q2|
|Genesis WordPress theme||$653.12||0||$356.78||$471.45|
|WPML WordPress Multi-Lingual plugin||$345||$283||$453||$376|
|GoDaddy domain name registration||$27.82||$27.54||$27.54||$0|
|E-Junkie shopping cart system||$14.40||$7.20||$7.20||$0|
|Aweber email marketing and delivery||$43.50||$47.90||$43.20||$46.20|
I am definitely not profiting enough from affiliate sales. I used to make a lot more from various hosting companies but the income from those sales has dropped along with the traffic to some posts where I recommended them (companies like Bluehost, Hostgator, etc.) My two best earners now are WPML which I promote in my WordPress Multi-Lingual plugin videos and the Genesis WordPress theme framework which I recommend in all my WordPress tutorials. Interesting that GoDaddy and E-Junkie have suddenly stopped after paying me a little monthly income for years. There are also a number of products I promote quite heavily that steadfastly refuse to pay me any commission!
All together the Udemy and Skillfeed income along with the e-books’ sales, the Google income, Kindle sales and the affiliate commissions brought in $10,230.49 in passive revenue in Q2 2014. It’s my best quarter ever (see below).
Comparison with previous quarters
It’s good to see the figures going up but the increases have largely been down to Udemy and it’s never good for one passive income stream to be much greater than all the others. I need to spread my bets.
Specific business targets
Here are specific targets that I set three months ago and more targets for three months’ time.
|Target||Q2 2014 target||Q2 2014 actual||Q3 2014 target|
|Monthly unique visitors||20,000||15,011||17,000|
Again, I exceeded my passive income target but missed my visitor targets. I really should do more guest posting to improve the traffic figures.
General business targets
Last quarter I had two business targets. Here’s how I got on:
- Publish another Kindle X Target Missed!
- Create two more premium Udemy courses X Target Missed!
Why have I been so bad with this? You’ll find out later.
By September 30th 2014, I will:
- Create two more Udemy courses (on Photoshop and Illustrator)
- Write and publish two Kindle books
- Have my membership site up and running with over 100 paying members!
Whoa! Big targets!
These are a bit of a waste of time but I keep doing them.
|Indicator||30th Sep 2013||31st Dec 2013||1st Apr 2014||1st July 2014|
|My Twitter followers||2425||2523||2596||2742|
|My YouTube Channel, subscribers||773||964||1221||1477|
|My YouTube Channel, video views||273,007||322,185||373,423||428,668|
|Facebook page Likes/Fans||525||585||638||720|
|Subscribers to RobCubbon.com||6249||6491||5948||6276|
I haven’t been very productive in terms of product creation these last three months. However I do have some excuses. I have been very busy for a number of reasons. I went to Chris Ducker’s mastermind in April (see left, I’m the bald dude at the back). I met and re-met a number of clever people and learned a lot as always. I was advised to do something I already knew I had to do: sell my video courses from my own site. I was putting off selling more products here and less on other platforms because I knew it would be difficult to set up. And, sure enough, setting up a membership site at learn.RobCubbon.com has taken up a lot of time since, but I’m getting there.
I have also been on a number of podcasts and public speaking gigs in the last month, including this one (below) at the 4-hour Work Week meetup in London. I was very pleased to be asked to do this talk in particular as it was a 40 minute presentation in front of an audience of 70+ people followed by questions.
So I am going to add public speaking to my list of personal goals that I will concentrate on more in the future. I have always been quite shy and nervous of putting myself out there so I think this will be a good thing. I have also kept up my Tai Chi, exercise and meditation routines and I have added drinking a litre of water a day to them. I’ve also got to say that I’m hardly drinking any alcohol these days.
Another personal goal that’s working quite well for me is avoiding newspapers and television. We all know that we shouldn’t poison our bodies with saturated fats, sugar and alcohol but we’re less worried about the poison of negativity we feed into our brains on a daily basis. So why consume media that is trivial, inaccurate or fuelled by hatred or fear? I’m trying not to identify with negativity.
Previous passive income and business reports
You can do it
I hope this passive income and goal report inspires you and gives you ideas on how you can increase your income streams. Let me know in the comments what you think.
It’s my first 6-figure quarter. We’ll see if I make $15,000 on 1st October 2014 – that would mean $5,000/month.
Be awesome, and I’ll see you in Q3. (Don’t forget to leave a comment!)