to generate over $3,000/month
in less than 10 months!
Since starting my site 10 months ago I have had some great months and month 10 has been another great one. Last month I went over the $2k/month mark for the first time and this month my one website has made over three thousand dollars.
The beautiful thing about this month is that based on my plan for my business I moved away from personally working on the student loan site and focused on my new site I am building (Canadian Insurance niche). So the $3k was almost entirely passive.
Passive Income – Now that I have shifted my focus from the student loan site and to the insurance site the income I have earned from the student loan site was entirely passive. Last month I only spent 3 hrs editing a couple guest posts before they were submitted.
“Real” Business Idea – I will talk about this a little more in the future (don’t worry it is NOT an info product). Usually when I get bit by these ideas I am able to shake them but not this one. This idea has me excited and I know its something that would add value because I would/will use it once it exists…teaser…it involves my VA’s and processes including access to my developer license theme clubs all available to other people…if this sounds interesting please contact me I may be looking for some beta testers. There is one big twist I will be keeping a secret for now.
Not Being Patient – It’s tough when my new site is not performing where I would like it to be. However, it is a very competitive niche and currently the site is performing better from a traffic standpoint then the student loan site was at the 1 month mark. But I am not seeing the traffic growth or income from the traffic I have that I would like to.
Video Creation & Traffic from YouTube – I have been paying for a VA to turn infographics into info-videos using PowToon but I have not been seeing a positive ROI on this effort and may go back to me doing Screencasts on my own based on powerpoints my VA puts together.
No Post on Authority Website Income – I don’t plan on this site being my main source of income ever but I should still hold myself accountable to at least 1 other non-income report post per month. My plan though is to keep the post #’s down but the value very high – I had a decent reaction to my detailed post on 3 successful case studies using expired domains. It was mentioned by a few people including the Empire Flippers Podcast, Dale Goodwin’s Podcast, Matt’s passive income site and a few others (thanks!)
Authority Website Stats for June
Income = $3,114.90 (+773.49)
- CPA #1 (loan consolidation) = $480.00 (-$72)
- CPA #2 (load consolidation) = $2,629.00 (+$869.19)
- CPA #3 (credit check) = $0.0 (-$22.40)
- CPA #4 (debt monitoring) = $5.90 (-$1.3)
CPA Offer #1 = $480
Although this affiliate is not main focus the conversions are great and I really like the ability to quickly judge the quality of traffic through the daily conversion reports here.
CPA Offer #2 = $2,629.00
The number of leads continues to grow and since the average time for a lead to payout is 4 weeks it most likely means my income next month will be slightly lower and in the $2,200 range. But I am still learning and seeing how the traffic reacts so we will see.
- February = 54 Leads
- March = 98 Leads
- April = 151 Leads
- May = 194 Leads
- June = 178 Leads
CPA Offer #3 = $0.0
This item is promoted in an email I send when people opt-in. Clearly they do not find the offer appealing.
CPA Offer #4 = $5.90
From a post I wrote about this debt repayment service I generated a little income.
Costs = 47.11 (basically on auto-pilot this month)
As I mentioned above, my teams focus is on building out the insurance site so that’s where all the effort went this month.
The VA’s do a lot of things for me such as research post material, identify potential guest posting opportunities, publish content, modify graphics, upload and syndicate videos I make and other assignments as they come up.
All my team members are hired through ODesk
- VA #1 – Content Publisher = $5 @ (posting/scheduling of created articles per my content calendar)
- VA # 2 – Backlink/General = $10 (web 2.0 creation, Link Authority, blog carnival submission, Friday post creation)
- VA #3 – Website Manager = $5 (he takes care of security/speed on all my sites – no work this month)
- VA #4 – Social Media Manager = $0 (not going to use on this project)
- VA #5 – Outreach – $0 (moved onto another assignment)
- Content Creation = $0.00 (all already created and scheduled)
- Hosting = $7.16 @ HostGator
- LeadPages = $0 one time fee paid last month
- AWeber = $19.95 (for the size of list my student loan site has)
Running Net Income/Loss
Revenue up and costs down = a nice looking graph for the month of June…
Traffic =12,745 Unique Visitors
An ok month for traffic with consistent traffic compared to last month. The traffic has reached a plateau which I will need to keep an eye on. Consistent growth is the goal but this is a cyclical niche.
8% Traffic Drop but all other engagement metrics were within 1% of eachother meaning the traffic quality was essentialy the same.
Email Opt Ins – Working
My strategy I talked about last month has resulted in almost doubling my list this month with opt ins going to 349.
Here is how I did it….(shared in last months income report but I think its worth mentioning again because of how awesome LeadPages is)…
What I love about this strategy is that people self-segment between people looking for a loan consolidation and a private student loan so that I can then target their needs in my email follow ups.
Content, Promotion and Backlinks
In this section I will show exactly what I have done over the last month to continue to grow my site…
On Page Content = 17 Posts
A lot more great posts were published following my editorial calendar.
Outreach – Blog Commenting & Social Media (5hrs by VA @ start of month)
Blog commenting via a VA and then reaching out for guest posts is a strategy I want to keep using and improving on.
Guest Posts = 2 Posts on Quality Sites
The most guest posts I have had published happened this month. I have a few scheduled for next month but I am not going to focus as much on this now while I build up another site.
All of these guest posts were achieved using the method I talk about here.
I use majestic SEO (free) to track my link profile and help estimate how my link building efforts are being viewed by Google.
- Referring Domains = 330 (-3)
- Backlinks = 33,307 44,881 (-11,574)
- Citation Flow 35 (-6)
- Trust Flow 21 (-)
I believe I had some site wide links which have now disappeared off some sites that had A LOT of indexed pages. This is the reason for the substantial backlink count drop. But I care more about trust flow and it stayed even.
My goal to keep this site on autopilot with minimal invested has me a little worried though. Without promotion efforts I am concerned I will slip in the quality of my link profile and rankings. This we will find out over the next couple of months.
Image From – MajesticSEO.com
Last Month’s Goals
- Automate Guest Posting – 1 VA working on her own to publish 4 (FAILURE)
- Blog Commenting – 1 VA working on her own to publish 30 (FAILURE)
- No Content Creation (SUCCESS)
- Costs Reduced to $50 (SUCCESS)
- Monetize –Earn over $2,000 per month (SUCCESS)
Next Month’s Goals
- Automate Guest Posting – 1 VA working on her own to publish 4
- Blog Commenting – 1 VA working on her own to publish 30
- Costs Maintain at $50
- Monetize –Earn over $3,000 per month
- Move monthly reports to be less about my 1 case study site (only so much I can say when I only work a few hrs and spend $50 on promotion)
2013 Website Goal Progress:
My website case study PayMyStudentLoans.com will earn more per month than Pat Flynn’s case study site SecurityGuardTrainingHQ.com for at least 3 months of the year
- Before June I was 0 for 5
- January (-$2,796.18)
- $452.13 for PayMyStudentLoans.com
- $3248.31 for SecurityGuardHQ.com – Report
- February (-$1,675.35)
- $1126.55 for PayMyStudentLoans.com
- $2,801.90 for SecurityGuardTrainingHQ.com – Report
- March (-$2,076.94)
- 759.63 for PayMyStudentLoans.com
- $2,836.57 for SecurityGuardTrainingHQ.com – Report
- April (-$1,581.86)
- $1,127.1 for PayMyStudentLoans.com
- $2,708.96 for SecurityGuardTrainingHQ.com – Report
- May (-$367.55)
- $2,341.41 for PayMyStudentLoans.com
- $2,2610.62 for SecurityGuardTrainingHQ.com – Report
- June (TBD)
- $3,114.90 for PayMyStudentLoans.com
- $?? for SecurityGuardTrainingHQ.com – To Be Determined
I think I may have finally done it – my first month with more income from PayMyStudentLoans.com than SecurityGuardTrainingHQ.com – but we will have to wait for Pat’s income report!
My Overall Onlince Income Goal Progress
As discussed in my long post about my online income history and my overall business strategy post here my goal is to be making $15k/month securely by my 35th birthday and move my family back to our hometown to raise our kids there.
I am going to add a section to my monthly reports showing my overall online income and progress towards $15k/month.
- Actual = $4,974 net income
- Planned = $2,875 net income