Well, it has been a long time away from the blog! I’ve not made time to create posts in the last several months for both personal and business reasons. The good news is sales have been largely up from last year and new projects have been keeping me quite busy! Since I’ve fallen behind, I’ve decided to create a “super income report” to show my income breakdown for the first quarter (Jan, Feb March) rather than report a month at a time. I will likely continue this way going forward.
My current sources of income are:
-2 Amazon.com seller accounts
-1 Amazon.ca seller account
-1 Amazon.co.uk seller account
-2 eBay seller accounts
-Kindle income (from my kindle book.)
affiliate accounts (including Amazon associates, clickbank and more- see the full report for details)
THINGS HAPPENING IN THE FIRST QUARTER:
While January was way down from December, sales have been higher than expected overall in the first quarter! Last year, I focused primarily on private label products and devoted 90% of my time and energy to it. While there is a tremendous benefit to creating and selling private label products, I’ve also found it can be incredibly unstable. Sales are based primarily on rankings within Amazon which can fluctuate wildly! It is absolutely imperative to have multiple products which is why I’ve recommend my six step six figure system from the start!
Thankfully, introducing nine new products last year really saved the business from falling apart for me (which could have easily happened since I largely let the arbitrage and wholesale portions of my business slide) Focusing on only private label is not a terrible strategy per se, but if you plan to do this, you had better plan to set aside some serious cash and build out your brands with several products as soon as possible to spread your income sources (and keep in mind this usually means buying at least 1000 of each item at a time while also setting aside funds to restock!… it can get very costly! This is another reason to go through the six steps- it will take a lot less of an investment to meet the same goals). If you don’t, your single product can easily be dropped from the rankings, run out of stock, or even be de-listed and your income could disappear overnight. Personally, I plan to pick up more on the arbitrage and wholesale side of things this year, but my hope is to have this 100% outsourced by the end of the year so I can continue to focus my own time and energy on private labeling.
Let’s take a look at the income from the first quarter (3 month’s worth):
Amazon Account 1: $128,377.87
Amazon Account 2: $35,666.18
Amazon.ca: $3,607.77 (conversion to USD)
Amazon.co.uk Account: $6,399.73 (conversion to USD)
eBay Account 1: $1079.75
eBay Account 2: $25.54
Website 2: $58.96
Total Income from physical products:
35% (approximate profit percentage) = $61,896.96 PROFIT
NON-PHYSICAL PRODUCT INCOME:
Amazon Associates: $74.36
JVZoo: (Amasuite) $25.50
Kindle Book: (Six Step Six Figure System) $171.19
Total costless income: $1,043.40
GRAND TOTAL: $62,940.36
I must say I’m quite pleased how things have turned out so far in 2016. If I were able to maintain this quarterly income, I would end up with over $250,000 by the end of the year! In reality, the 2nd and 3rd quarters are historically lower than the first and the 4th quarter is typically higher, so while it looks like another 6 figure year, we will have to see exactly how this plays out!
I hope you enjoyed this income report. If you’re just getting started making money online, please feel free to download my free ebook below! Thanks again for your continued support!