(Every month I reveal stats about my side projects, which includes how much I’ve earned. The info below is slightly censored. For the full financial figures, sign up in the sidebar to the right)
A month into the new year has passed. Have you been keeping your resolutions? Congrats if you have! Most studies show that people have already given up by now. One of my resolutions was to set goals for my side project profit for this year. Here are mine!
- By June 30: $1k/month
- By December 31: $3k/month
With a profit of $209 this month, I have quite a challenge at hand! But that’s okay, I thrive on challenges! Really. Without a goal or a tight schedule, I’ll just cruise along. But with these goals I know I need to crank!
One of the biggest changes this month was the fact that I attended my first entrepreneur’s conference. The main takeaway was that I need to stop jumping around at all of these side projects, and focus! So that’s what I did this month – I focused on developing the second version of AmpedSense. I already have a basic version, but with my new plan of getting exposure via industry professionals, I knew I had to revamp it into a more polished product. This meant I couldn’t spend time promoting any other products, which cut my income a bit.
Overall my income remained solid, but my expenses went up by trying out some Facebook advertising for AmpedSense (I found some decent traffic for <$0.50/click!) and trying to touch up this site a bit (growing the email list). My two newest sites are now in the red (profit loss), but it takes money to make money! I’m hoping by next month AmpedSense will be finished and I’ll have made a couple sales, putting it back in the green.
Here are the basic stats (uncensored stats are provided to my newsletter subscribers):
You should be aware I’m excluding the expense of web hosting in that chart. At $5 per month, I feel like my web host cost is negligible and hard to split between that many sites.
Compared to last month, my traffic went up by about 2,000 visits, yet my profit down by about $300. This is explained by an increase in expenses, plus a drop in CTR due to it not being a holiday month. But I’m not discouraged since I’m making progress towards a new project, which should start bringing in revenue in the next 1-2 months.
Any questions, suggestions, or feedback about this breakdown? Would love to hear from you with a comment below!
How’d your side projects do last month?