This is time for another edition of Dukeo’s monthly income report.
These reports allow you to take a look behind the curtain and see what is actually going on when someone is building an online business.
Transparency and honesty are some of the core values that I use as pillars for everything I build online. Unfortunately, I cannot say the same for every single blogger out there.
You see, a lot of bloggers are posting partial income reports.
In other words, they post about the money they made, but they conveniently “forget” to report the money they spend. It allows them to look like massive and overnight successes even if they are not breaking even yet.
I decided to be completely open with my readers, and to not hide any expense that I make to grow my online business.
I know that this will not make me look as glamorous and successful as some other people out there, but I don’t care. I want to show you what it TRULY takes to have an online business.
With that out of the way, let’s dive right into the report.
What happened last month?
It’s time for the first report of 2016.
In January, 100% of my time was spent working on my new joint venture.
There was a ton of work to do before we could launch our website and I wanted to get as much done as possible before leaving Thailand to move back to the Philippines.
It resulted in 31 days of non-stop work: writing code, setting up our funnel, email marketing, design, etc etc.
Overall it’s been a crazy month but we were able to pull it off and have a working version of the site up and running.
Before I jump into all the details about this new project, let’s take a look at what happened with my niche sites.
I’m extremely excited about my niche sites.
First of all, let’s take a look at the combined stats:
As you can see, the traffic massively increased in January compared to December, and most of that increase happened on my new niche site as you can see below:
In December, I was afraid that the traffic growth was due only to Christmas shopping.
Well, numbers are proving that the trend keeps going: that site went from 3900 visitors in December 2015, to 5977 in January 2016.
That’s a 53% increase right there.
The downside is that people are easier to convert into buyers in December, so my site CPM went down from $95 to $45.
So even though the traffic increased a lot, the revenue actually decreased.
I’m not too worried about it because December is always a good time for product-oriented websites.
During “normal” months, I expect to have a CPM between $45 and $60.
As I was saying in the introduction, I spent the entire month of January working in this new project.
Launching a new website is both a stressful and exciting experience.
There are so many steps you need to get right…
We had to decide which features were essential to develop a minimum viable product that we can use to do test runs, get a design, a logo, and do all the technical setup.
Being in one of the most competitive niches online, it’s going to take ages to rank for any keyword, so we can’t wait for Google to show us some love.
After going through the setup process, we started buying traffic to determine if the project is viable or not.
The initial tests resulted in over 90% loss.
But we’re really excited by the 10% that we didn’t lose: it means that some visitors are converting.
Now we’re going to work on optimizing every step of the process to try to break even in the coming months.
I am still debating with my business partner to decide if we should share more details about this project with my readers, such as the specific niche and domain name.
If you want more details about this project, please let me know in the comments below.
Nothing much to report about this blog again.
I have put zero work into growing it, and I am planning to just use it as my personal journal with these income reports.
Traffic went down a little since I didn’t publish any article last month. This decrease was to be expected.
In last month report, I wrote that I wouldn’t be able to buy traffic to these sites anymore because it was becoming too expensive.
Well, take a look at the following graph to see how my traffic and revenue were impacted:
As you can see, the traffic plummeted… And the profit along with it.
At this point, these sites are making almost no money at all, and I’m considering not including them into these reports anymore.
What about the money?
Here is a breakdown of the money flow for my various projects.
To make this report easier to understand, I’m using a simple color code: green numbers are positive, red numbers are negative.
Please keep in mind that these figures may not be 100% accurate due to various factors such as refund requests and network adjustments. The terms for each payment may also vary. As a result these numbers may differ from the actual payments issued and received.
- Amazon: $505.07
- Adsense: $21.59
- Content: -$572.70
- Serpfox: -$55.00
- Hosting: -$54.12
- Net: -$155.16 (Difference: +$54.92)
- Adsense: $21.31
- Affiliate: $9.00
- Design: -$270.00
- Promotion: -$237.52
- Data Entry: -$105.00
- Inspectlet: -$39.00
- Domain + SSLs: -$27.51
- Hosting: -$27.06
- Net: -$675.78 (Difference: -$0.00)
- Half: -$337.89
- Affilorama: $30.49
- Take Surveys For Cash: $26.31
- Adsense: $17.98
- Aweber: $8.70 (My List Building Guide)
- Hosting: -$50.46
- Net: $33.02 (Difference: -$114.67)
- Adsense: $58.51
- Sovrn: $58.50
- Display Advertising: $4.88
- Hosting: -$100.92
- Net: $20.97 (Difference: -$279.68)
- Misc: $23.98
- Aweber: -$69.00
- Hosting: -$50.46
- Net: -$95.48 (Difference: +$27.81)
Net: -$534.54 (Difference: -$649.51)
Financially, that’s a pretty bad way to start this new year, although keep in mind that a significant part of this loss is due to my new joint venture and it shouldn’t be as bad next month.
February should be a different story.
Most of the backend setup work has been done on the joint venture and we can now focus on improving our ROI.
I am confident the traffic will keep going up on my niche sites. However, I don’t know yet if the profit will follow.
Stay tuned for next month report.