Johnny's August 2014 Income Report + Action Items for September 2014
I wasn't planning on ever writing an income report again as it took a ton of time last month, plus I wasn't even sure if anyone got anything out of it. But after a quick poll on my facebook, tons of people wanted to see this month's so here it is. I also got a great suggestion from a friend on facebook.
Instead of writing just what I made last month, why not also share what I'm currently up to this month? That way, you're not just getting last month's information but also what's going on for the next 30 days.
Thanks to everyone who left comments on my facebook page encouraging me to write another post for this month, including:
Matthew Rider As someone who's new to online business, I'd love to see another income report. Really enjoyed the first one.
Shelley Wight I'll read anything you write! Like Nick, I'd love to know what kind of crazy you are cooking up, beyond the store.
Nick Bolz It was an awesome, in depth report Johnny. As much as I would personally enjoy an updated one, I think a post about your plans for your upcoming month would be pretty cool too.
Mia Christian MarchHare Definitely make it happen! It is a visual kick in the butt, great insight & knowledge and a reminder that is indeed "possible"
Honestly, I have no idea what the total is going to be as I haven't even looked for myself and I'm a bit worried as I didn't really work much this month as I traveling all across Europe and drinking beers for the majority of the month.
For those who haven't seen what I've been up to this month, check out:
Book Sales for August 2014:
This is passive income from sales of my book 12 Weeks in Thailand: The Good Life on the cheap. Below is a screenshot of sales from the kindle version and the PDF versions from e-junkie. I also sold a few paperbacks from Lulu which I don't bother to count as profits are non-existent for those.
|Amazon Kindle Sales|
|Total from PDF sales $69 ~|
Sales have actually gone up for the book as I'm getting closer to releasing my new book I've been talking about the first one more often. Thanks to everyone who has been leaving 5 star reviews of the book on Amazon! I love the comparisons of being an unpolished Tim Ferriss =)
You can read the reviews of 12 Weeks in Thailand on Amazon here.
Dropshipping Store Income:
I still have a couple of stores up and running such as The Tiffany Lamp Collection, but I've been focusing on my main store as of lately. I put in a ton of work last month before I left to automate it so it could run by itself even while I was traveling and it paid off. I have a trained up a great assistant that I use to answer all of my customer service calls and have been paying her $180 a month to do all of my phone support.
Store #1 - Main Niche
Total Revenue: $35,319.15
Cost of Goods: $23,924.06
Shipping Costs: $3,226.50
Credit Card Fees: $882.98
Advertising Costs: $986.69
Operating Expenses: $259 ~
|Store #1 August 1st-31st 2014 |
Total Profit: $5,142.00 ~
Profit for this store has been pretty consistent around the $5k range. I started paying my employee a bit more and started giving her cash bonuses for doing a good job, which has freed up my time to do other things, and in the case of August, drink beer in Prague.
Here's a guide to how I started my dropshipping store if you are curious.
I've made a couple hundred bucks from various other income sources such as making logos for CrossFit gyms, doing a bit of phone coaching for optimizing eCommerce stores, and getting affiliate credit for anything you buy from my recommended resources page.
If you're curious how much I make from miscellaneous income sources, check out my income report for July 2014 as I go into detail and it hasn't changed much.
|Around $1,000 this month ~|
uDemy Course income:
Larissa and I just launched the uDemy course we've been working on together for the past couple of months. It's not that profitable yet, but keep an eye out on future income reports to hopefully see it blow up.
If you're curious to check our course out, here's an 80% off link for you guys.
Action Plans for September 2014.
This is what I'm really excited about! As fun as it is to sit down and figure out how much money I made last month, it's a lot more fun to dreamline how much I want to make this month. Here's my to do list.
Finish Writing the New Book: Life Changes Quick.
I promised myself and everyone else that this book would be complete by end of summer 2014, and well, it's the end of the summer. Good news, is that I finished writing most of the book on the plane during my Eurotrip, so now I'm just reading it through, editing it and writing the final chapter.
A huge thank to you Russell Walker from the Isle of Man for volunteering to edit my book =)
|Goal #1 Finish the book|
Ramp Up Sales for: Dropshipping Store #1
I've hired a part time employee to help me ramp up sales of my main store and you'll never guess who it is! After months of planting the entrepreneurial seed in my girlfriend's mind, it has spouted and she has officially quit her teaching job! Yay!
The plan is, she's going to work on my store to ramp up the sales and marketing by contacting every customer who has ever bought from us and giving them a coupon code that they can use for themselves or share with their friends and family.
It's been something that I've wanted to do now for months but kept putting it off as I just don't have time to contact them all. I'll let you guys know next month how it all goes. But team LJ has officially launched. She'll be helping me out with my drop shipping stores M-F 8am-Noon and then having the afternoons to herself to work on her own projects, our uDemy course and eventually her own dropshipping store as well.
No travels are planned for the month of September and I'm looking forward to just relaxing in Chiang Mai and getting some work done after a long break. The best thing about owning an online business is having the flexibility to take 3 weeks off on a whim and come back without it all falling apart.
I hope you guys enjoyed reading this month's combined income report and action plan. It was actually good to sit down and write it out so as long as you guys enjoyed reading this, I'm happy to write these out more often.
Here are all of the tools that I used to start my own online business. Best of luck to everyone in your own journeys.
|This is the course I took to learn drop shipping.|
|The post I wrote almost a year ago encouraging my friends to start.|
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See you guys next month!
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