Every quarter (in January, April, July and October of each year), I used to publish a passive income report. “Passive income” means building assets that, once created, will earn revenue for months and years into the future without any further work. My passive income comes mostly from digital product sales, but also from affiliate commissions and advertising.
In 2015, I took the decision to subtract costs (hosting, email, marketing expenses, etc.) making the recent income figures a more accurate reflection of profit, rather than revenue.
The feedback I get from the passive income reports is overwhelmingly positive, however some people evidently have a problem with them. They either think I’m bragging or making them up. I would argue that neither was the case as I’ve been happily providing free information in this blog for ten years now and the income reports, to me, are just an extension of a desire to provide quality, useful content.
However, because of the negativity, I may decide to stop providing my passive income reports soon.
The trajectory of this passive income is amazing, here are the figures plotted monthly:
The income reports detail only my passive income revenues and expenditure for that period. Each quarter links through to a post about how I earned the income.
From Quarter 3 2016, I decided not to publish my passive income revenues publicly. There were many, many reasons why I decided to do this.
- Some people complained that I was boasting and they couldn’t be bothered to know how much money I make.
- Some people thought I was lying and that I was exaggerating to sell a product.
- Some people pointed out that it wasn’t real passive income as I actually had to work.
- Some people said that I was not making enough money.
- And some people, despite my best efforts to detail every cent correctly, still managed to publicly misrepresent how much I was earning and from where.
Clearly, the income reports weren’t doing what they were meant to be doing – providing useful information to other entrepreneurs so that they might improve their businesses.
I will continue to share figures and be transparent through my blog in the years to come. But no more income reports.