My First Ever Income Report Revealed: November 2015

My First Ever Income Report Revealed: November 2015 - letsreachsuccess.com lidiya k

Hey guys. If you’ve been following the blog for some time now, you know this type of posts is something I’ve never done before.

Well, here we go.

Of course, the credit goes to one of my favorite bloggers and entrepreneurs Pat Flynn, whose famous for quite many things, but also his detailed monthly reports. And while he’s in the 6-digits each and every month, that’s not where I – and most of you – need to be.

It’s no coincidence that I produce content mainly for beginners. I’ve read and experienced and learned from trial and error a ton of stuff over the years. And an approach I praise but which I haven’t started doing so far, is documenting the journey.

Something Gary Vee suggests everyone doing something big online should be following.

That means sharing exactly what you’re doing and going through. It’s the best way to build your personal brand and show authenticity, and it’s the type of content people love. It means revealing the numbers, the failures, the hurdles.

The real picture isn’t as good as it looks from afar.

It’s one thing when people find out I work whenever I want to, and it’s completely another when they stay at my place and see me wake up early or stay late on the laptop being focused like they’ve never been in their life.

It’s one thing to look at where I live and how I travel and all the things I’m able to do, it’s another when you see the numbers and realize I prioritize and say ‘no’ to tens of other tempting things.

Also, there’s the thrill of not having a boss, to wait for a salary, or to be told what to do when working. But there’s also the uncertainty, the fear that you won’t meet your budget next month, that you may not find new clients, and that the new business idea you’re investing tens of hours in weekly, might lead to nothing.

I love every single one of these aspects of working for yourself, though :)

And while I’m not making big numbers, I do have the freedom and independence which looked like a distant dream just 2 or so years ago.

So, what’s my deal?

I was stuck back in my home country, Bulgaria. Completing a degree in Economics, specializing in Marketing.

I didn’t like formal education at all. I didn’t like the environment.

But was constantly working on some side projects, reading about the lifestyle of self-employed people that I admired, and the so-called digital nomads.

Now, 2 years later, (although the whole process began a decade ago when I turned to personal development, but now we’re covering the money and action part), I’m living in my favorite country in Europe – the Netherlands. What’s more, in one of the best cities (and most expensive ones) here – Amsterdam.

I run every single aspect of my work, which is a real online business, although the money won’t mean much to most people who read my income reports. But I know I raised the standard of my lifestyle, and have every element the way I want it. Nothing less, nothing more.

Constantly working on new things, of course. Each of which can turn into something big.

I’m also traveling. Spent a few weeks in Thailand this winter. And visit friends in different places in Europe.

I structure my day the way I want to. Wake up when I’ve found out works best, dedicate the next 4 hours to work, then do others stuff I enjoy the second part of the day. Then, in the evening, I do some administrative stuff related to work, read, research, or else.

That’s in the casual period, of course. There’s also the one that’s solely for work. It’s usually after a big trip or break, or a phase of being less responsible. Which is followed by a period of hustling every day, all day, to get back on track.

So, after checking out Pat Flynn’s report for last month, I got encouraged once again. Reminded myself that my work matters and there’s so much more to achieve, but also a lot to share.

By creating a monthly reports section on the blog, I’m getting out of my comfort zone once again.

It’s good for me, and I believe it’s good for you.

The content will be for members only, as it’s as personal as it can get.

I’ll be optimizing these every next month, and I’m beginning with how things were before I moved to Amsterdam, went to Thailand, or had higher expenses.

This and the next few reports are from when the business first took off. It was exhilarating to finally see all the hard work pay off.

I was back at home, not sure if I could ever move to the country I wanted to, or get out of there somehow. But what made the difference was that every single morning, no matter what, I woke up and got to the laptop. If there wasn’t any project to work on that was for profits directly, then I’d go research a new way to make money online and take action upon in.

There are so many things to share that have to do with the amount of money I was and am making now, but think it’s best if I share a bit in the beginning of each report. This way it won’t be overwhelming.

So, thanks for the patience with the long intro, and here’s what I made back in November 2015:

Note: I’m including some business costs as well. That’s the structure of my income reports for now. Will definitely be making changes with each next post.

November 2015

Date        Product/Service       Where/How      Price

03.11      Sponsored post         PostJoint              15
03.11      Sponsored post         PostJoint              15
04.11      Freelancing               UpWork               57
10.11      USB mic
for podcasting           eBay                32 (expense)
17.11      Freelancing               UpWork              160
19.11      Books                        LRS                      2
21.11      Audio                       Audio Jungle   12 (expense)
22.11      Freelancing              UpWork                 19
23.11      Freelancing              Freelancer              80
26.11      Articles                    Client                     20
26.11      Freelancing             Freelancer              155
26.11      Freelancing             UpWork
, JobHatch  60
27.11       Book                       eBay                15 (expense)

 

Total:

Earned: 583
Spent: 59 (mic, audio, book)

Revenue: $524

Summary

Money earned from sponsored posts: $30

Sponsored posts are a big thing for the blog and me. Will share a lot more on the topic in future income reports. So stay tuned.

Some say making money blogging is one of the hardest things. Yes. And I’m doing that.

While niche and affiliate marketing are some of the easiest ways to monetize your new skills (you can learn it all by yourself), but it’s something I struggle with more.

The amount of money earned from sponsored posts is quite small here, but I think you’ll like it in the latest reports.

Although the monthly revenue isn’t impressive for those chasing checks, it shows that I’ve found ways to make money doing exactly what I want to, and don’t have to answer to anyone.

Money earned from freelance writing (from online platforms only): $531

I’m a writer before anything else. And freelance writing on platforms like UpWork, Guru and Freelancer is where my very first dollars came from back in the days. So I’ll always be grateful for that.

Now, I do less client work and more for my projects.

I mention this amount is from online platforms only, simply because over time you start avoiding these as there’s too much law quality competition there, it’s hard to stand out, and people value time over quality of the content. Also their fees are high.

Luckily, because personal branding happens over the years as you keep appearing on as many platforms as possible and working on your own projects, you start being found by clients via email and they come ask you to do some freelance work for them :)

Final notes

That’s it for the very first income report I’m sharing.

Phew!

Hope it helps.

Look out for the next one. Might be posting one weekly now as I’ve got old ones to show to you, before I analyze my current profits.

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5 Convincing Reasons to Start a Business in Your 20s and 30s

5 Convincing Reasons to Start a Business in Your 20s and 30s

Every day we hear about brilliant minds who have made their first million before the age of 25. There are even businessmen who reach success and experience the advantages of self-employment before they turn 21. This influx of young gifted entrepreneurs makes you think there is no room for startupers over a certain age in any industry. But is it really the case?

Seasoned business analytics and researchers say there is no ideal age to start a business. You can be a successful entrepreneur fresh out of high school, but it’s also not uncommon for people in their 40s to finally find their entrepreneurial path. However, 20s and 30s remain the most popular age for starting a business, and that’s what we’ll focus on today.

Why Start a Business in Your 20s and 30s

1. Risk-taking

The importance of taking risks and accepting the outcome of your decision doesn’t need any explanation for entrepreneurs. As a startup founder, you will face risks every day, and this is where a person with more business expertise can encounter their first difficulties.

When someone is over 40, they’ve likely already taken big risks and failed. It means that they’ll be much less inclined to do it again. This is how older businessmen think they avoid complications, but that is also how they miss opportunities.

People in their 20s and 30s normally don’t have that kind of experience. They understandably have qualms about risk-taking. However, in the end, they usually decide to make a risky move, and there is a very good chance the risk will pay off.

Related: 4 Ideas for Side Hustles You Can Start This Weekend

2. Knowledge

Those who launch their business after 40, usually have certain business experiences under their belt. They may have taken part in starting their own business or witnessed the birth of a business of a friend or coworker.

When you’re in your 20s or 30s, you may not have the same real-life knowledge of how businesses begin. Nevertheless, you have something much more important: the knowledge and skills you received at college.

The importance of college education for launching a prospering business is often overlooked. Yet there are essential things you can only learn in college, and that’s exactly the foundation you need for building a viable business.

3. Responsibilities

By the time they are 40, people accumulate a lot of financial responsibilities. Families, mortgages, car payments, and medical expenses not only eat up a large part of your budget but also make you much less flexible.

It’s a popular thought that businessmen in their 20s and 30s have nothing to lose. That may not be completely true, as some people start families when they’re fairly young. However, when you’re under 40, you have more freedom for making choices.

If you’re a forty-something father of three, your business decisions will be dictated by the risks you’re able to take. Young people have fewer things restricting them from making bold decisions and, ultimately, succeeding.

Related: How to Start a Profitable Blog – This step-by-step guide to starting a blog is a must for everyone who wants to start earning online and become self-employed. Having your own blog is the first step to selling products, making money from affiliate marketing, building a name for yourself, getting traffic and monetizing that attention.

4. Resilience

How To Turn Fear into Power and Create Personal Breakthrough

If there is one thing experienced entrepreneurs would like every beginner to know, it’s that launching a business will be a journey filled with ups and downs. If you look at business success stories, you’ll see that each of them comes with their share of failures.

Impressionable young businessmen don’t react great to failures. Their initial reaction can differ, but it always includes disappointment, resentment, and even a desire to quit. If they’re lucky, their support system won’t let them quit. If they’re not, then the days of their startup are numbered.

It’s a different story with people in their late 20s and 30s. They arrive at the starting point of their business with an understanding that failures are bound to happen. It doesn’t mean that they’re completely immune to failures, but they are guaranteed to have a more mature reaction.

5. Technology

Technology is a vital part of launching a startup these days. There are thousands of businesses that only exist online. Even if your business is completely offline, technology can still be a valuable aid in the business development.

People over 40 may understand the importance of using technology in their business. They may even move their business online or take successful steps to foray into the digital world.

However, they will never have the understanding of technology of a 28-year-old.

Today’s 30-year-olds are not only fully familiar with technology – many of them are actually digital natives. These people have spent most of their lives with the digital world being an essential aspect of living. That is why technology-skilled young entrepreneurs are the future of business.

Conclusion

According to those who have a multi-faceted experience in business, starting a business at any age has its challenges. Entrepreneurs that are 20, 30, 40, or 50 years old have their strong suits and weaknesses. However, there are many reasons why the age between 20 and 40 is the golden age for launching a business. Take risks, learn as you go, use your forte, don’t let anything distract you, and soon your name can be part of the world business hall of fame!

About The Author

Christine Acosta is a content manager at App Reviews. She specializes in digital marketing and content creation. Christine is also passionate about startups and business development. She uses her degree from the Florida Institute of Technology to offer sound advice to those who launch their own business.

starting a business at any age has its challenges. Entrepreneurs that are 20, 30, 40, or 50 years old have their strong suits and weaknesses. However, there are many reasons why the age between 20 and 40 is the golden age for launching a business. Check out this post to see what they are: #startabusiness #newbusiness #smallbusiness #bossbabe