May 2015 Income Report

13

pie chartI’m a bit past due for my income report.  May was a busy month and unfortunately, I only got one post up of my series on private labeling.  Though they are slow coming, don’t worry, I have a lot more thoughts on this topic and plan on posting a lot more soon!

SOURCES ON INCOME

Below are the sources of income that I will be reporting:

-2 Amazon.com seller accounts

-1 Amazon.ca seller account

-2 Ebay seller accounts

-1 profitable website

-Kindle income (from my relatively new kindle book.  I’ve also created more books in other niches which I hope to have published and selling in the next few months- be on the lookout.)

affiliate accounts (including Amazon associates, clickbank and more- see the full report for details)

-undisclosed source of income (I will report numbers only and if this takes off as I hope it will, I will disclose this in the future)

MAY STUFF

In May I was focused on a couple of tasks:

1. Getting more kindle content created

2. looking for and interviewing possible candidates to manage my email and my chat support on the website for me

These two things alone have filled a tremendous amount of time.  In addition, I’ve been working with a number of suppliers to source a couple new private label products.  Back in January, my goal was to develop one new private label product per month.  Although I’ve fallen ridiculously short of this (it’s the beginning of June and I’ve only successfully released a single product to Amazon), I do have a supplier for 6 products.  Four of the products are being finalized and two of them are still getting details worked out.  It’s a long process, but we’ll talk more about this in the ongoing private label series.  For now though, lets get into what you came for!

INCOME BREAKDOWN:

Amazon Account 1: $25,661.22

Amazon account 1

Amazon Account 2: $15,579.62

Amazon account 2

Amazon.ca Account: $2252.98 (approximate after U.S. conversion)

Amazon.ca account

Ebay Account 1:$535.94

Ebay account 1

Ebay Account 2: $198.12

Ebay account 2

Website Income: $531.68

website

Total Physical product sales: $44,759.56

35% (approximate profit margin) = $15,665.84 PROFIT

——————————————————————————-

AFFILIATE EARNINGS:

Amazon Associates: $41.26

Amazon associates

 

Nanacast(Products owned by Jim Cockrum) includes:

Proven Wholesale Sourcing

Proven Private Label Course

Import Direct From China

Proven Amazon Course

List Building Class

$371.05

nanacast

Lisa Suttora’s Wholesale Course: $539.43

(note this income was made in April, but due to a problem with the affiliate section of the site, this was not paid until May, so I will count it on May’s income)

Lisa suttora

Clickbank ((AffiloblueprintLongtailpro, Coupon Engineering Domination)

$16.61

clickbank

Kindle (Six Step Six Figure System) $261.06

kindle

 

Undisclosed income: $130.97

Total affiliate income (and other “costless” income): $1360.38

GRAND TOTAL ESTIMATED PROFIT FOR THE MONTH: 17,026.22

LAST MONTH’S TOTAL ESTIMATED PROFIT: $16,628.42

LAST YEAR’S TOTAL ESTIMATE PROFIT: $18,768.90

FROM LAST MONTH: UP $397.80

FROM LAST YEAR: DOWN $1,742.68

FINAL THOUGHTS:

It has become apparent that Amazon has a great deal of control over my income.  While I enjoy the traffic, I find myself uneasy when I realize my income could almost disappear overnight if anything happened with Amazon or my account (then again, when I had a regular job, I could have lost it at any time and sometimes did!  You’d think I’d be used to this fear by now!)

The reason I bring this up is because I had an issue last month with some FBA inventory.  This was shipped directly from my supplier and 4 units were missing (between 2 ASINs).  Rather than just double check to see if those 4 units arrived, Amazon decided to temporarily suspend my listings while they investigated!  I was told this would take up to 3 days.  It took 9!  The problem was, these were my highest profit, best selling items.  I lost an estimated $5000 in sales as a result! (you can see my first Amazon account is way down from last month- this is why.)  This was irritating to say the least- particularly because no Amazon rep will actually reason with you (“there is no reason to suspend this inventory- nothing is WRONG with it- the existing inventory is all in good shape, we’re just missing a few units” etc etc etc).  It is also eye opening to see what a giant effect a single amazon rep can have on my income!

I continue to work hard at creating other income streams, but starting from scratch is hard work and a tedious process.  Amazon is still working and I will continue to use this source of income, but this was a wake up call to me to make sure I’m working as hard as possible on alternate streams!

All in all, I’m quite pleased with how the income turned out.  I’m still down from last year which is discouraging, but I’ve got several products in the works (as I mentioned above) and I’m confident that I’m going to see a fantastic 4th quarter- and hopefully a steady increase on the way there… very soon!

Thanks so much for your support!  If you’re just starting a business or are interested in making extra income or a full income online, please enter your name and email address below for a free copy of my book “system start up.”  Thanks so much for your support!

13 thoughts on “May 2015 Income Report

  1. DANIEL,
    I noticed that you receive affiliate income from Lisa Suttora’s Wholesale course.
    Is it worthwhile to buy her course if I have the Proven Amazon course which now contains the Proven Wholesale course?

    Thanks,
    Bob

    1. Hi Bob,
      Honestly, I can’t say for sure because I’ve not gone through the Proven Wholesale Course. I can tell you that Lisa’s course is the most comprehensive course I’ve ever seen. Hope this helps!

  2. Can you go over how to order samples to test the market before making a larger order?

    When you order samples it means you try to sell the product before adding your logo and custom packaging? Do you list the item on Amazon with the brand name you intend to use?

  3. Hi Daniel,

    I m glad to hear that you keep getting new audience every time I am back in your blog. Your income report always encourages me to go home and work on the merchandise that I have in my invetory room waiting to get process and ship to the fulfillment center.
    I want to share with you that my 30 days sales on Amazon are $16,000 as a part time seller and keeps going up.
    My 1st year gross sales as a part time seller on 13JUN2015 was $112,375.22
    I was able to develop a mini niche busines model in one of the Amazon categories and I am working on writing an ebook/kindle because a lot of people in a sellers group ask me question about how I do this and just like you helped me, I am helping other sellers, even sellers more experienced than me are learning from my methods.
    I want to ask your permission to mention your blog and books in my book. Thank you

    1. Hi Edward!
      I always love hearing from you because you’re business is constantly growing! It’s encouraging for me as well!

      if you put together an ebook or course, yes, of course you can reference my material. Also, let me know when it’s about to come out, and I’ll be happy to tell my readers about it! Congratulations on the continual increase in sales!

  4. What is considered a bad/too high ACoS? For my new private label product it has an ACoS of 70%, anyway to improve that?

    When do you turn off your PPC campaign? Do you leave it as No end date? What is you daily budget?

    1. Hi Zacharie,
      Sorry, I’m not familiar with the term “ACoS”. Do you mean ROI for PPC campaigns? In Amazon, the lower the percentage the better. If a campaign is above 20%, I will usually cancel it or modify it. You can play around with the daily limit as well as keywords. Using Amazon’s keyword suggestion bar as well as longtailpro has helped me a lot. I set my daily budget between $5.00 and $20.00 depending on the item, the profit margin and the keywords

  5. Hey there I just happened upon one of your videos bc I was searching for amazon product ranking. which lead me to your site. how great! anyway, i’m also a big amazon seller and was curious as to how you have 2 amazon accounts…bc i’ve always thought “wouldn’t it be nice to have 2 amazon seller accounts”. I just didn’t think i was able to do that. also, do you happen to know how i could see the top ranking products for each category. I always get the 10 or so amazon recommends for me but i’m looking for more…

    1. Hi Carrie,
      Welcome to the site! So glad you found me! To answer your questions:

      1. Amazon will allow 2 accounts, but only with prior approval and you must provide a reason. For me, I was branching out to products completely unrelated to my first account. They approved me so long as:

      a. the products are 100% different
      b. I use separate bank account and credit card information for each account
      c. The accounts to not interact in any way
      Talk to Amazon about getting approval for this. It was helpful to me for a lot of reasons!

      2. Sure thing! Here are the 100 best sellers for every category and subcategory http://www.amazon.com/Best-Sellers/zgbs
      Just click on the side bar to drill down into subcategories. Hope this helps!

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>