It’s time for a quick recap of March!
This is going to be a very short update compared to previous months.
The main focus for March was EXECUTION.
A lot of people get stuck before they even start working on any online project because of information overload and analysis paralysis.
When you dive into the online world to work on a project, there is a lot of information to absorb and understand.
A big mistake that many wannabee entrepreneurs make is that they want to figure out EVERYTHING before they even start.
From my experience, it never work like that, for one simple reason: you can’t plan everything.
Iteration is the key.
Put your project out there with a MVP (minimum viable project), and tweak it little by little to improve in some key areas.
With that being said, let’s talk about my projects.
The main difference between February and March is that I slowly started doing some paid advertising campaigns again.
I’m being very cautious because this is what put me under last year, so I definitely don’t want to scale hard before being profitable enough.
The results weren’t too bad and I managed to make more profit that in February.
Obviously, my cost per sale skyrocketed. Paid traffic costs more than email traffic (which is literally free).
All in all, this project made $1,000 more in profit than in February.
Even though there is still a lot of tweaking to do, and advertising campaigns require a lot more monitoring than email campaigns, I am quite satisfied with these results.
Niche site WS2
I don’t have much to say about this project today.
There was no new planning or strategy brainstorming.
I’ve just executed the plan that I set in motion in the previous months: getting extra content for the website to get more visitors.
Niche site WS4: Public Case Study!
Rinse and repeat…
For this website as well: content, content, content.
I’ve also been working on some new tools for this project, and I’ll talk about it more next month.
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.
|Cost of Goods||-$3,771.85||▼ $2,670.02|
|Payment Fees||-$1,598.04||▼ $1,373.78|
|Email Marketing||-$235.00||▲ $5.00|
|Customer Service||-$191.39||▼ $0.50|
|Niche Sites||-$965.11||▼ $170.41|
|Sponsored Blog Posts||$0.00|
My current goal is to reach $2,500 in profit to cover all my expenses.
That was so close in March…
Some people may think that I should just keep the Ecommerce projects going since they are the only ones making money, but I see them as short-medium term projects.
The long-term play is the niche sites, so I keep using the profits from Ecommerce to fund these.
At this point, it’s a balancing act to reinvest the profit in the niche site, while keeping enough to pay for my living expense.
What’s happening next?
April should be fairly similar to March.
I am planning to keep working on some paid advertising and email marketing for the Ecommerce websites, and add more content to my 2 new niche sites.
Stay tuned for the next update!