As always, the months are flying by! I can’t believe May is here! Lets take a look at what is historically the beginning of my “dip” in sales for the year (April.) Unfortunately, the “dip” started a little earlier this year, but I’m very optimistic nonetheless since I’ve been using much of the “downtime” to look into new products, and new income streams (and build up existing possibilities!) I hope to have several of these in place by the forth quarter or at least by the end of the year!
SOURCES OF INCOME:
I’m getting close to adding some sources, but here is my current list:
-2 Amazon.com seller accounts
-1 Amazon.ca seller account
-2 Ebay seller accounts
-1 profitable website (note, I made my first few sales on my second website which I’ve been putting a lot of work into, but I’m not going to include this in my list of “regular sources” yet. I will talk about it more below though and will disclose the income)
-Kindle income (from my relatively new kindle book)
affiliate accounts (including Amazon associates, clickbank and many more- see the full report for details)
-undisclosed source of income (though this made no income this month- it looks like it will make a bit next month- we’ll see)
I have spent a tremendous amount of time (and money unfortunately!) on my second e-commerce website. I built this site around my private label brand that I started just over a year ago. The site has generated zero sales since it started. I decided to be proactive about promoting it and working on building into a respectable site that will actually generate regular sales (I kind of just quickly threw it up on the web to say “look, we’re a real company!) I would say I’m about half way there in making it a “good” site. Truth be told, there is a LOT of room for improvement! As I mentioned last month, I plan to write a post (or maybe several) when I’m all “done” (as if there is such a thing) and it starts generating regular sales. So far I’ve spent a ridiculous sum of money to find out a lot of what DOESN’T work. However, despite the fact that I’ve lost and not gained (yet) overall on this site, I feel the money spent still provided value for me since I’m now learning a few things that DO work (for instance, I know where the sales came from, so I will now be focusing on those areas)! In the next few months, I will share more details in the form of a case study (assuming I actually start making money) to help speed up the learning curve for you!
April was also the month when a huge course was released to the online community on private labeling! I share my thoughts on all of this HERE If you did not buy the course and you’re still interested in learning more about private labeling (a method that I’ve used for several years to make a lot of money online), don’t worry! You have a lot of options these days!
If you don’t want to spend several hundred, why not check out my extremely low cost book which lays out my entire private label strategy (as well as arbitrage, wholesale, outsourcing expanding etc). You can find it HERE
Want to learn about the concept, but you’re short on cash?! No worries, over the next month or so, I plan to create several posts about my past and recent experiences with private labeling that I think you’ll really enjoy! Stay tuned to the blog! I’ve also created a special section for private label posts HERE. You can see all of my current posts that touch on this topic. Keep checking back for future posts as well!
Alright, lets let the fun begin and see how I did!
Amazon Account 1: $30,375.18
Amazon Account 2: $13,677.22
Amazon.ca account: $593.53 (approximate conversion to USD)
Ebay Account 1: $770.87
Ebay Account 2: $25.98
Website 1 income: $247.94
Website 2 income: $28.32 (note this is incredibly confusing from looking at the screen shot as it has $50.62 in coupons recorded and $64.73 in sales. Most of these “sales” and “coupons” were made and used for testing purposes, but coupons were also used for the real sales. There were actually 3 real orders (the rest were tests) and the total was $28.32 (after coupons). This will be explained more in my forthcoming case study, but for now, you’ll just have to trust me In case you’re wondering, the real orders are the spike at the end of the month- the rest is tests only)
Total Physical product sales: $45,719.04
35% (approximate profit margin) = $16,001.66 PROFIT
Amazon Associates: $32.29
Nanacast(Products owned by Jim Cockrum) includes:
Kindle (Six Step Six Figure System) $223.01
(Note, my affiliate center for Lisa Suttora Products is down currently. I will update this when it comes back up (if income was generated)
Total affiliate income (and other “costless” income): $626.76
GRAND TOTAL ESTIMATED PROFIT FOR THE MONTH: $16,628.42
LAST MONTH’S TOTAL ESTIMATED PROFIT: $16,069.05
LAST YEAR’S TOTAL ESTIMATE PROFIT: $18,397.63
FROM LAST MONTH: UP $559.37
FROM LAST YEAR: DOWN $1,769.21
I would love to see these numbers breaking new records of course, but I’m encouraged overall. I’ve been working at introducing new products, but this has been a much longer process than what I anticipated. It will be worth it and I’ll explain why in my future posts on private labeling. Growth and change happens slowly. Overall, this year has been down from last year, but I would not be at all surprised if this year turns out up from last year by the end! I won’t be seeing the fruits of many of my efforts until much later. That is part of the nature of this business!
If you’ve been following me for a while, I want to say a heartfelt thank you! It’s been wonderful connecting with so many of you and hearing what is going on in your own lives, your own journeys and your own businesses! If you’re new to the blog, feel free to download a book I created to get you started making money right away! I don’t teach get rich quick schemes, but you can implement the ideas to build a bit of start up capital to start with and eventually generate an income that will allow you the freedom that want! Just enter your name and email below and it will be sent to you instantly.
Thanks again for the continued support!