September Income Report - 2016
This is my 4th Income Report in which I detail how much money I made online this month.
These reports are designed to show you that it is possible to make money online. I also want to use them to give myself motivation to meet targets, describe new challenges and achievements. Every month I'll post reports of my google analytics, income stats and more.
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If you remember in the last income report, I mentioned that my long standing freelance work had finally come to an end. I had been having this monthly income for the last year and a half so it's quite a shock to not have it anymore.
But it was definitely the right time- they had run out of ideas for me to do and I had ran out of creativity. When I voiced these concerns, they agreed it was a good idea to finally end what I was working on until they could figure out what they wanted to do next.
This has left me with a lot more time to focus on my own projects. I decided that I was going to dedicate my full-time to producing products on CodeCanyon.
I have been with CodeCanyon for over 2 years now and it was great as a side-gig for my regular freelance income. But I have always wanted it to be my main source of income. The problem was I never had enough time to really push towards making that a reality.
Well now that has all changed. Since losing the freelance work, I have spent all my time working on products. I have one in the oven that I have been working on for the past couple of months. Being able to work on it full time has allowed me to really dive deep into functionality of it- no cutting corners, making sure it is useful and helpful.
I've been able to learn loads of cool new libraries and technologies whilst developing it and I plan to bring these to my existing products to make them better.
You'll see from my time logs that I've been quite consistent with working on this product. It'll be ready for release within the next 2 weeks I hope and so we'll see if it makes any difference to my income. I hope it does- because I've spent over 100 hours this month working on the project alone.
It definitely feels great to be able to focus on one thing.
I also did manage to pick up a few freelancing opportunities. These weren't gigs I was looking for- rather they were requests from customers and I spent some free time in my evenings and weekends working on them.
If I can pick up a few of these along the way to building my portfolio, it will definitely help supplement my income.
This month I haven't had much time to work on blog articles. I'm trying to really focus on my Niche Site case study, but it is proving difficult to gain any real results. I know it's very early still and to be honest, the amount of time I've spent on it has been very small indeed.
Anyways, let's look at some stats:
A slight increase in earnings from CodeCanyon, which is nice since it's been on a downward spiral this whole year. Picking up the freelance money has helped too and was a nice surprise, despite it being a 50% drop on last months freelance money- I was expecting to earn 0 from it.
Had a drop in traffic this month, which isn't surprising considering I haven't added many new articles or interacted with other blogs. This just goes to show that to keep steady traffic you need to keep making regular blog posts that are useful to people.
I'm not too concerned about traffic stats since none of my income comes from the blog. I don't think next month will be too much different since I only plan to release another 3 articles.
One of the cool things I've programmed in my new product is a time management system. It allows me to keep track of how much time I've spent on a product. As you can see from this I've managed to spend over 100 hours working this month.
Ignore the total earnt stat- this is just something that bases the amount of hours I've spent working with my hourly rate.
Let me just say this: I have worked much harder this month than I have for the past four months. I feel like I've had a really productive month and it makes me cringe at how much time I've wasted.
If I can keep this work ethic up, I definitely feel I'll be able to create more products and increase my income. The amount of time I dedicated before was literally minuscule compared to this month.
Plans For October
I plan to release my new product this month. I'm working very hard on cleaning it up; testing, debugging, creating graphics, making a demo, documentation etc. Once all of these have been done I'll make a preview on the blog for you guys to see too.
After the launch of the new product, depending on how much new work it brings, I'll be working on a new update to Pro Login. This update will then compliment a new product that I'll be working on that I hope will be a more advanced version.
A part of my new strategy is going to be making different "versions" of products- one that is lightweight and cheaper and another that is more advanced and has more features.
Envato recently changed their strategy on pricing. Authors can now price their items however much they like. Before, every item was given a fixed price by Envato and to get it changed was really quite cumbersome. Now we have complete control on pricing, which is great for running things like contests or if you want to offer discounts at certain periods.
I haven't made any changes to the pricing of my products yet; but I feel I might discount the ones I haven't updated recently and see if that effects the sales.
I'll be taking a trip to the UK this month to see family, so that will be a nice experience. Oh- and I also have tickets to see Lord Of The Rings Live this week and I can't wait to see it! I love the soundtrack to the films and to hear it being played by a live Orchestra will be amazing. I'll definitely have to post some pictures.
Until next month - Peace!