My January 2016 Monthly Income Report
January’s Overview
Not a great start to the year but I’ll gladly take what I can get.
That said, I’m starting to agree that the human body is not built to withstand the HAM I’ve put mine through these last few months. This dawned on me when I spent majority of January sick, only able to do very little.
Thankfully, I’m better now but my numbers aren’t.
With a total of 10 days of actual work put in January, I generated $6,522.15 this resulted to a -31.81% drop from December’s revenue but a decent +8.32% increase in net income.
I feel like being sick shouldn’t be an excuse to the low numbers and quite frankly I’m somewhat unhappy with the downward trend I’ve been experiencing lately. That said, I know many of you that email me would be happy with my numbers so I’ll quit bitching.
I still have a ton of work that got backed up and I’m still playing catch up well into mind February! One day a time though.
As a result of working for only 10 days, my eBay income stream suffered tremendously. Had it not been for that, I probably would have had better numbers compared to last month- or at least I’d like to think so.
Either way, I’ll let you be the judge…
Income Breakdown
Digital Services$2,500.00 (+150.00%)AdSense Revenue from Niche Sites$98.52 (0.00%)Dating Website Membership Fees$46.79 (-40.17%)Room Rental Income$1,159.20 (+3.50%)Amazon$1,875.86 (+7.80%)$5K Amazon Business System$400.00 (+40K%)Alex & Pike$0.00 (0.00%)eBay$437.78 (-31.68%)Craigslist$0.00 (+0.00%)Hot Chocolate Donations$4.00 (+400.00%)
January’s Gross Income
$6,522.15 (-31.81%)
Estimated Expenses
Cost of Goods Sold$788.00Web Hosting$62.00Landing Page + Analytics$57.00Email Services$37.00Fees$147.39Amazon SEO$50.00Shopify Store Subscription$29.00Shipping & Handling + Shipping Supplies$66.00Advertising$255.38
January’s Estimated Expenses
$1,491.77 (-69.69%)
Net Income (estimated): $5,030.38 (+8.32%)
As you can see, the low revenue wasn’t necessarily a bad thing. Due to spending less of inventory, I ended up with lower fees, shipping costs, and cost of goods sold which when combined resulted to lower expenses and a better net profit compared to last month.
Lessons Learned
#1 Multiple Income Streams Rocks: Trying to think what would have happened to me had I had a “regular” job and be out sick for 21 days, I probably would have been fired. Additionally, after using all my sick days, I probably wouldn’t have any money unless I had some savings stashed somewhere.
By having multiple streams of income, even though a few streams suffered, I was able to stay afloat and not stress too much about when my next pay check was coming from.
Looking Back
Now I’d like to review the goals I set last month to see how well I did;
- Finish 12-Part Selling on Amazon Blog Series: I made sure this was done, if you have been following the last one was part 11 which technically is the last one because part 12 will introduce private labeling which I’ll tackle this month.
Looking Ahead
The two partnerships I started are almost materializing. You should see some of the work soon. I’ll hopefully start sharing some of my Private Label results in February so you can benefit from it.
Here are my goals this month;
- Start Amazon Private Label blog series.
Just like last month, I’ll keep my goal at a minimum to maximize the chances of successfully completing it. Thank you for reading, until next month, stream on!
