As promised in my first income report, which included everything from my first IM newbie guide to the end of July 2013, here’s the report for last month – August 2013.
After I published the July report I was still searching for a cleaver way to present the actual data. On one side I wanted to show how much each site earns and costs for itself, but at the same time I wanted to show how much each service is costing me as well. It took me a bit to find the right way to present the data in such a manner, but I actually managed it.
So, let me present to you THE INCOME TABLE:
OK, so it might not be that impressive or innovative, but it still amazes me how much information is actually stored in that small bit of space. It shows both totals I wanted to be able to present without having to duplicate the data. And if we’re already talking about it, let’s analyze this data a bit.
The thing I’m by far the most proud of this week is that one of my sites is actually profitable. It’s the good old MNW2. It is the oldest of the lot, but since its reboot this is the first time it actually made me any money and started clawing back its costs since I built it.
The problem with ClickBank products, though, is that if I lose a single commission I take a big hit. I this month’s case MNW2 would not be profitable if I only got 1 commission. I’m really interested to see how an Amazon site like MNW3 will do in comparison. They’re both build in a similar fashion, but MNW3 has bigger traffic potential, but smaller commissions per sale.
The other thing you might notice is that in spite MNW2 being in the green, I actually increased my losses a further 160 dollars. There’s a big reason for that – outsourcing articles for NW1. As I said in its strategy post I tried Textbroker and Elance to find a writer. Textbroker was sadly a waste of time and money. I filled up my balance with $25 and got 2 articles out of it. First I tried a level 3 writer, which was just awful. I spent around $11 for the article and could have written it better myself. Then I tried a level 4 writer who delivered a much better article, but at $14 for 550 words I wasn’t all that impressed.
Elance, on the other hand, is a whole different beast. As you probably know, it isn’t just an article exchange as is the case with Textbroker. It’s a job board for freelancers. An employer post a job he needs done and potential candidates submit their proposals. And that’s exactly what I did. In my job I state exactly what I needed done and ask for candidates to include a sample text they’ve written in the past. I got around 20 offers and read every on of them. Some where awful and cheap, other were excellent but to pricey. I ended up hiring a great mid-price author from India and I’m really happy with the work he has done so far. He writes really easy to read articles with about 800 words each for $10 per article. As you can see that’s a lot more bang for the buck compared to Textbroker even if I don’t compare the quality. I also found it’s great working with a single author, so the content sounds consistent and also the author himself is learning what my needs are with every article he delivers. If NW1 works out, I’m definitely going to use him for other projects I already have planned.
Before I end this income report, I wanted to show how each of my sites is doing in total compared to last month. So, here’s another table:
As you can see no sites have actually broken even, so my new grand total when even further down. But this was my first real month and I’ve done a lot of work. I’m proud of how my sites are doing, but there’s still a long round ahead of me before I can color that grand total in green.
Over to You
That’s it for this month. I have my little table now, which I hope you like and find easy to read, although I’ll have to thing of something else when I have 10+ sites. Any ideas? Either was, I’m always happy to hear what you guys think.
Now I’m off to improve my sites even further.