It’s time for a quick recap of March!
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.
I decided to be completely open with my readers, and to not hide any revenue or expense for 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.
That’s official: thanks to the massive crash of Project 4 that happened back in December, Project 5 is now my biggest earner in the past 12 months.
I’ve been thinking a lot about project 4 and how to recover. I even put a plan together. The problem is that I simply don’t have the money on hand to execute this plan as of now.
The problem is that if the site doesn’t recover, this will be the equivalent of throwing money into a hole.
On the other hand, I can move forward with project 5 and grow it as much as I can. This is my focus for now.
Talking about project 5, the main issue with that site is the extremely low RPM (revenue per thousands sessions). I’ve been working on ways to improve that RPM.
Namely, I have started an email list and put together an email sequence to send some traffic to more affiliate offers that are relevant for my visitors.
I’m already seeing some encouraging results on that front, and it’s only the beginning. If I notice that 1 or 2 products are doing extremely well, I’ll consider creating my own products responding to the same need of my audience.
Close to the end of the month, I received some bad news: one of the 2 writers that have been working with me on this project for the past year won’t be able to keep working with me.
This is going to slow content production significantly, but it’s actually giving me the opportunity to reassess my spending and get to a more healthy balanced budget.
In the short term, I’m going to increase the workload of my remaining writer by 10-15% (any more could put my writer until too much pressure to focus on volume rather than quality, and that’s definitely not the desired outcome).
I’m going to let a month pass by, then I’ll start looking for a new writer to replace the one that left.
Let’s take a look at the growth of my various projects:
What about the money?
Here is a summary 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.
With project 5 taking over my revenue, I have to come to peace with the fact that my RPM is going to keep decreasing.
Overall, I’m happy to see a bigger chunk of my revenue coming from display ads.
Having advertisers compete for your traffic is a lot less risky than relying on a single affiliate program for most of your revenue.
What’s happening next?
April should be a slow month. With only half of the content output to review, edit, and publish, I’m planning to do more coding and develop some tools to improve my sites.
I don’t want to give too many details early, but I’ll definitely tell you more about that in future updates.
Stay tuned for the next update!