Passive Income Project – How is it going?

2013 Report – This year has been busy for me as I continue to invest more time into ministry. However my online income has stayed relatively steady. My attempt at generating other streams of income has not been as fruitful as expected. I continue to hope that things will pick up as I complete one year of this 24 month project.

I have not written any reports because, I felt that the time that it takes to write the reports could be better invested into working on building the income rather than reporting on what is not working. I have spent some time working on Squidoo and all I can report is $0.30 income up till date. There has been many changes on Squidoo and a few of my rather thin (less than 400 words) lenses have been locked. I am not really worried because the texts are original. I would simply work on adding a few text modules and hopefully they will get republished.

No More Excuses – Although I ventured into writing on Squidoo, I must mention that I have not put in up to 2hrs daily as planned. I hope to return to this schedule from today and I hope to have something to report soon.

Income Report Dec 2012

Income ReportHere is the progress report on my 24 month exploration of Passive income. You can learn about the ups and the downs and I hope you will be encouraged to continue working on your personal projects. One thing I am happy about is that I made this a 24 month project. It is so easy to get distracted when trying to make money online and if you have the impression that it will come easy, you may give up before you start making any reasonable progress.

Earlier this month I discovered another online income success called Claire – A dentist turned online Entrepreneur and her  December Income Report was very encouraging. You can read more about her progress at http://skefflingsmakemoneyonline.com/.

Well a lot has happened since my report in November. The Income from my info sites continued to go down but from what I can see in January, its coming back but not yet to where it was in September and October. As usual, I continue to spend about 1-2 hours daily on this project. There is so much to learn about online business that one can spend 3hrs daily and not even do a thing. My advice to anyone trying to make money online is this – Just Start Somewhere and learn as you go. One can easily get overwhelmed and give up even before starting.

Here is the breakdown of my income for December 2012

  • All previous websites (Google AdSense) – $486.78 (-$226.86)
  • Sales of Ebooks connected to previous niche – $0.00
  • L Niche Website (Google AdSense) -$71.43  (+$21.08)
  • EPI (This Site)   – $0
  • Love and Relationship -$0
  • African Reflection -$0
  • Infobarell -$0

Total Income for November - $558.21 (difference from October  -$297.54)

My online income has been going down since October but the income in December is the lowest so far. I was hoping that it would not go so low. However like I said in my Nov income report, it should start going back up from this month (and I can confirm that this is the case). So If I am to calculate a daily Income for December it would average to $18. This is quite far from my target of $100/day. The good news is that I still have about 17 months left to get to that goal.

 

Here is the breakdown of my income for 2012

  • All previous websites (Google AdSense) – $7,273.27
  • Sales of Ebooks connected to previous niche – $103.89
  • L Niche Website (Google AdSense) -$165.88
  • EPI (This Site)   – $0
  • Love and Relationship -$0
  • African Reflection -$0
  • Infobarell -$1.89

Total Income for 2012$7,546.82 ($20.62/day)

I am grateful to God for life and for joy. It was fun starting this blog. I know a few people who have been inspired to start their own blogs. I have learned a lot of things that make it possible to reach more people using online tools.

What are my plans for 2013?

  • Well I think it is quite obvious that posting on this blog more than once a month is quite difficult so I plan to continue writing my monthly reports and one other blog post. So a bi-weekly posting schedule.
  • Continue to tie up all the loose ends on my information blog and on my L-Niche website since they are related and I can leverage on the previous sites. (Target income – $40/day)
  • I hope to build my Infobarell articles to 12 (so one article per month) (Target income – $10/day)
  • I would like to put some articles on Squidoo (say another 12) (Target income – $10/day)
  • Sales of ebook – Find ways to get more traffic to this site – ($5/day)
  • Affiliate Sites – I have a few ideas but I am yet to think through them ( $35/day)
  • Total Target Income – ($100/day)

Tips for Beginners

  • Start Now, keep working as hard as you can and learn as much as you can
  • Once you have learned a few things, you can spend some money to speed things up
  • Listen to Pat Flyn’s podcast and others that he recommends
  • Keep working hard.

I look forward to giving a better report for January and getting closer to my target by Dec 2013. Thanks for taking the time to read. Please leave your comments, they are helpful.

Income Report November 2012

Yes its that time of the month when I declare the results of my exploration of online passive income. It’s always Income Reportimportant to state that the reason why I do these reports is not to brag – I don’t have anything to brag about anyway when we compare my reports with blogging gurus like Pat Flynn of SmartPassiveIncome.com. Since I discovered his blog I have been greatly encouraged to see this 24 month exploration of passive income at least to the 24 months mark. I am sure I won’t stop after that.  I started writing these reports because I was inspired by Pat and I always make it a point to read his reports.

Writing a monthly income report really helps to keep me motivated and I hope that it helps my readers understand that it really takes a lot of work to make more money online. However, if one is willing to be consistent, to learn all that needs to be learnt, and to implement what one is learning there is always a reward. Personally my greatest rewards so far are not monetary, they have been more traffic, more topics of discussion  more fun things to do online and the ability to help other people get online.

Here is the breakdown of my income for November 2012

  • All previous websites (Google AdSense) – $713.64   (-$71.56)
  • Sales of Ebooks connected to previous niche – $0.00 (-$29.67)
  • L Niche Website (Google AdSense) -$50.35 (+$30.25)
  • EPI (This Site)   – $0
  • Love and Relationship -$0
  • African Reflection -$0
  • Infobarell -$1.76 (+$1.74)

Total Income for November - $765.75 (difference from October  -$69.23)

Why the decrease Income? – I was a bit worried when I saw that for the second month in a row my Adsense for my previous info websites had decreased. I could not find any explanation until i took a look at the income trends for 2011. I discovered that the same thing happened last year as reflected in the data below

  • Sep 2011 – $326.76
  • Oct 2011 – $344.27 (+5.3%)
  • Nov 2011 – $264.93 (-23%)
  • Dec 2011 – $230.79 (-12.9%)

There was a 9% decrease in AdSense income from my info websites from October to November. It looks there is some more decrease coming in December. However if the trends are right, things should start coming back up in January.

L Niche Website – This site is picking up some speed. It is actually a sub niche of my previous info websites. I simply decided to start writing about an aspect of that niche that I had ignored or neglected all these years. From the AdSense income it looks like it was a good idea. I hope to keep producing more articles in this niche. Hopefully this can eventually take care of $5 out of my target $100/day income.

Infobarrel – I have not written anymore articles for Infobarrel and I am surprised to see an income of $1.76. I planned on writing at least one article every month. I have not been able to do this because of the limited amount of time that I have to invest on this project. See here to read about my previous post about Infobarrel

A List of what I learnt this Month – This is a list, without any detailed description. Its just to give you an idea of what is involved in learning to make money online

I hope you have enjoyed reading my report. Kindly leave your comments.

Thanks.

How to build a website or blog in less that 10 minutes!

I have been planning to write this blog post for so long and I have repeated this content to a good number of friends over the past couple of months. It is a great thing that one can build a website in less than 10 mins; however the down side of this is that there are so many websites popping up every day that it takes a lot to even get noticed. The fun thing though is that many of the people that have asked me about starting their own blogs or websites are not too keen on struggling for traffic at the moment, they are simply thrilled that they do not have to dole out $500 to have a basic and functional website.

Here is my affiliate link for Ipower.com (I will be paid a commission if you buy though this link. I will be very appreciative if you chose to do so.)

IPower.com – Web Hosting and Domain name registration.

 

Income Report October 2012 – Passive not Free Income

One of the things I do on this blog is to disclose my monthly online income and share the things I learnt and my activities  for the month. October was a bit slower than September with regards to income and I did not do a lot of work.

My Family

Passive Income is not FREE Income!- If you were thinking that passive income is money you get for doing practically nothing, then you are in for a big shock. Over the last four months that I have been exploring the idea of earning passive income online, I have come to realize that the reason why passive income is sweet is not because you don’t work but because you work really hard once and you keep earning for a long time. I have been working hard on my websites and this blog but one can hardly see the results. I know that if I had more hours to invest, I would have better and faster results and the greatest challenge is really to keep going regardless of the seemingly little result.

On a Personal Note- Having a young family is a great blessing but it can be an hindrance to blogging. I am enjoying our boys and I won’t exchange this time of their lives for anything else. However when I get home from work, there is only one thing I can do before they go to bed at sometime between 8:30 and 9:00pm – Play with them. The truth of the matter is that having a happy home is priceless. Why would I want to make money and not have people to share it with?

Here is the breakdown of my income for October 2012

  • All previous websites (Google AdSense) – $785.21
  • Sales of Ebooks connected to previous niche – $29.67
  • L Niche Website (Google AdSense) -$20.10
  • EPI (This Site)   – $0
  • Love and Relationship -$0
  • African Reflection -$0
  • Infobarell -$0.02

Total Income for October - $834.98 (difference from Sept -$13.28)

Progress Report:

I am happy that my L-Niche website has started to make over $20 per month. This website is connected to my previous website but over 85% of the visits (6,300) were as a result of a Google search. The website has only two pages – an “about” page and a page of my content. I really did not know what was responsible for the sudden increase in AdSense income from July($0.59) to September($18.26) until I took a look at the traffic sources using Google Analytic. Needless to say, my goal for the rest of this month is to increase the number of pages from one to ten pages.

 

Encouraging your readers to subscribe to your Newletter

Getting readers to subscribe to your blog can be a big challenge. Since I started blogging about my exploration of Passive income online, I have had only 2 subscribers to my blog. Why is this? I have a few ideas about what could be causing this low subscription rate. Here are my thoughts.

1) My opt-in form is just in one little corner of my blog. As you read this you may not even know where it is on this page. It’s on the top left hand corner of the page.

2) There is no incentive to get my readers to subscribe. No offer of a useful ebook that I have written. I am currently working on something but at this rate I do not know how long it will take me to finish the ebook.

3) Very Low Traffic – I have not had a regular publishing schedule and as a result very few people ever read my blog. If  I have less than 30 new people reading my blog every month I cannot really expect more subscribers.

What am I doing to change the statistic?

1) I have decided to add my opt-in form to the bottom of all my posts. To make this easy, I purchased an opt-in skin for $47. It really makes things easy and I am glad I got it. Unfortunately I am yet to get a new subscriber but I am hopeful that this will change as my posts become more regular and I have more traffic. If you want to try out the opt-in skin you can do so with My affiliate link (I get paid if you use this like. I will appreciate it very much). Optinskin is a plugin that you can activate on your WordPress blog and it connects with any email marketing software that you may be using already. I am using optinskin with icontact. If you are new to email marketing please read my blog on email marketing.

2) I have decided to give a weekly report every Monday on how things have been with this Passive Income project. With a regular blogging schedule readers tend to take one more seriously and visit more often.

Weekly Report

Adesobanjo.org – I hope to post once a week. I spent some time making it easier to read and I also added a post to my autoresponder for those subscribed to my newsletter. This is where I enjoy most of the benefits of my exploration. I am amazed at how more effective I have been in using the internet to reach others. I hope to have more subscribers on this blog too. I plan on adding the optinskin plugin to this site too.

Adeandolu.com – No work done

Other Information Sites – No new articles

Mini-Report- I am still working on a new min-report – I thought it would be an ebook but I have decided to make it a simple mini-report. Nevertheless I must say that I did not do much work here this past week. I hope to finish my mini-report this week.

Keep working hard on your projects. Until next week….

 

Income Report August and Sept 2012 (full disclosure)

Income ReportOver the past couple of months, I have been sharing only a portion of my online passive income, however I have decided to disclose every single dollar I make online so that you my readers will have a more realistic picture of what I am doing and how I am being motivated. My previous intention was to show the Adsense income on one of my websites and all new incomes generated after I started this blog in June 2012, however as the months have passed, I have come to realize that without the income from my other websites, I could not be motivated to continue on this journey. The question I am trying to answer is this. Is it possible to make a living online. Here is my updated income reports for June and July and a detailed income report for August and September 2012.

Income Summary

Disclosure: Many of the links below are affiliate linksfrom which I will earn a commission if you purchase through them. If you choose to do so, I will greatly appreciate your patronage. If however you have questions regarding my experience with any of the products, I will be very happy to answer them.

Updated Income for May - $611.28

Updated income for June 

  • All Previous Websites (Google AdSense) -$649.09

Updated Income for July

  • All Previous Websites(Google AdSense) – $772.11
  • L Niche Website (Google AdSense) -$0.59
  • EPI (This Site)  - Bluehost  - $65

Total Income for July - $837.70

August
  • All previous websites (Google AdSense) – $732.98
  • Sales of Ebooks connected to previous niche – $44.55
  • L Niche Website (Google AdSense) -$2.93
  • EPI (This Site)   – Ipower – $100
  • Love and Relationship -$0
  • African Reflection -$0
  • Infobarell -$0

Total Income for July - $880.46

September

  • All previous websites (Google AdSense) – $800.25
  • Sales of Ebooks connected to previous niche – $29.67
  • L Niche Website (Google AdSense) -$18.26
  • EPI (This Site)   – $0
  • Love and Relationship -$0
  • African Reflection -$0
  • Infobarell -$0.08

Total Income for July - $848.26

 

EPI (Exploring Passive Income) – $25 per day – my goal is $100/day by June 2014.

Although this website is designed mainly to track my income from my other websites, I have been able to receive a total of $165 from this site through affiliate marketing  I am grateful to the two readers who chose to use my affiliate links to purchase hosting accounts from Bluehost and Ipower (affiliate links). I find this very encouraging given the amount of time and energy that goes into making this blog available. I hope that EPI will contribute a fair amount to my target of $100/day. It is sweet to report that I am already at an average of over $25/day. All I need to do now is find a way of multiply the income streams.

Progress Report
  • My online income has increased by over $200 since May. I am happy that some of the changes that I have made on my previous websites have contributed to an increase of about $200 every month. That is a total of over $600 extra since I started spending an average of 2hr daily on the website. I must admit that in the last 2 months I have only been able to afford an average of one hour daily except Sunday when I don’t spend any time on this project.
  • I have learnt so much and I have not had enough time to write about or even implement many of things that I have learnt or still learning. Lately I finished an eBook and I am learning how to market ebooks.
  • Every time some visits our home for the weekend, we get into discussions on passive income and over and over again I am amazed at how surprised people are about how easy it is to start the process of making passive income online or at least having an blog or website. My brother inlaw Gbenga Olowosoyo came to visit in August and before he went back to his home in Ibadan, he had a personal website – www.olowosoyo.org. Regardless of the financial outcome of this EPI project, stories like this will always make my heart glad.

Way Forward

  • Since the goal of this site is to document my progress and encourage others to begin a journey towards making passive income online, I want to commit to a weekly posting schedule. I hope to publish a new blog post every Monday. In these posts I hope to give a summary of what I have learnt and done for the week and one detailed explanation of something I have learnt during the week.

What I learnt in August and September

  • Writing Sales Copies –  I invested a good number of hours to researching and modifying my sales copy for my eBook  I realized that no matter how important your eBook is, your readers still need to be motivated to read it in the first place. I also discovered a WordPress theme that cost $97 dollars and makes it very easy to design sales pages called Optimize Press (this is an affiliate link). I have found Optimize Press quite helpful with making frequent changes to my sales copy and inserting very attractive graphic components to the page. If you are new to web design or you just don’t have time to create your on graphics, I definitely recommend optimize Press. I have had a few challenges using it though. I discovered that its not very good for blogs so I had to install it in a separate folder so that all I use it for is my sales page. I hope to install another copy on this site sometime. I also find my sales page a little slower than my other pages but not too slow to warrant my not using it. In all I find my $97 investment quite worthwhile especially because I hope to use it again sometime in the future.
  • Selling my eBook – E-Junkie – Since I completed my eBook, I have been selling it with an advanced online shopping cart called E-Junkie (affliate link). I started of with the free trial and I sold a copy of my eBook and I then upgraded to the paid version for $5/month. E-Junkie keeps your PDF file and sends a  download link to your buyers. The link can be set to expire after a number of downloads. With E-Junkie you don’t have to worry about safeguarding the url of your eBook or how to manage your sales. I am yet to know and explore all the benefits of E-junkie but I can say categorically that for me it is a very useful tool for $5/month.
  • Pricing my eBook – I am yet to settle on a price for my eBook. I introduced it to the market at $4.98 and then increased it to $9.89 after an update. I am currently working on another update but I do not know if my low price is driving away customers. I plan to leave it at $9.89 for November and increase it to $19.89 for Dec and January and then compare my sales. Right now I have sold about 8 copies in 2 months.

Any Suggestions? – If you read anything on my blog and you have some suggestions on how to do things better or faster or if there is anything you would like me to throw more light on please feel free to do so with the comment box below. I look forward to writing another post next Monday.

Creating your own ebook – It’s a very good idea.

I read today on a blog that to really create a realistic online business and make a living, you need about 15 – 24 months of working about 10hrs a day. I can almost agree with that because as you can see, I am yet to start making money regularly on this website or even more on my other websites. I must confess however that in the past month I have not been able to invest up to 2 hrs daily on this project. Nevertheless I have spent an average of 1 hr daily working on it and to tell you the truth I can hardly see much improvement.

Writing an Ebook – I have completed my first ebook and I am happy to announce that I have also sold a few copies of it. There are a few things that one must consider when writing an ebook. In this blog I will highlight some of the issues that I had to consider while writing my ebook:

  • What is the question you are answering or the problem that you are solving
  • How detailed do you want to go or how many pages will be adequate
  • Does it matter if others have written someting about this topic earlier
  • How much do I sell the ebook?
  • How do you write a good sales copy that will have a high conversion rate?

These are questions that I had to deal with as I wrote my ebook. The book was sold for $9.89 and I was able to add some support and with that I have raised the price of the book because I will be supporting my clients via email. The Price of the package is now $79.89. I am yet to sell a premium package. I am still in the process of learning how to write a good sales pitch.

My Advice

  • Work everyday to write your own ebook
  • Make sure you answer a pressing question in your ebook.
  • Find a way to place the right cost on ebook.
  • If you find any activity that will help enrich the book, go for it.
  • Learn a few tricks about Pdfs.
  • It takes a lot of time so start early.

Another Ebook

I am in the process of writing an ebook for this blog. I find that many friends of mine are asking me questions about the blog. I have decided to put some of the anwers in an ebook and just send it whoever asks the same question.

 

 

 

How to stay motivated about your passive income goal

How to stay motivatedIt’s been quite difficult getting back to posting on this blog since I began writing my ebook at the beginning of this month. I have continued to spend at least an hour daily on my passive income project and sometimes I have spent over an hour. How do I stay motivated?

Comments from my readers – Although there are little or no actual comments on my blog, there are a few people that have actually told me or emailed me to tell me that they have read all my posts and others have mentioned how it had inspired them to revive their blogs or their other passions. This is my number one motivator. I must confess however that this alone sometimes is not enough especially when you have to write for over one hour and you are wondering how many people are reading your “blurb”. I choose to keep going because it really means a lot to me to inspire others to success.

Increase in Knowledge/Skills - Even if no one tells you that they have been inspired by your blog, you will surely learn a lot as soon as you start blogging about any particular topic. Since I began to blog about making a living online I have discovered a good number of people like Pat Flynn and John Chow who make over $40,000 every month online via various passive and semi passive income streams. I have also noticed that the more you blog, the better your writing skills. Many of the things that I have learnt during this project, I am also able to use in my daily life. I love to grow so I am constantly motivated to read a new blog, listen to another video, subscribe to yet another newsletter and as such, I keep the flame for my project burning. I have also been learning more about the internet, search engines and much more.

Some Traffic – Although I only have one person subscribed to my mailing list right now (I read today that Pat Flynn just crossed the 50K mark), believe it or not I do not want to disappoint that one person, so I continue to read, learn and I force my self to blog. Not that I hate blogging, but I really prefer reading other people’s blogs and watching videos about how others have done what I am hoping to do. So I literally have to command myself to stop reading and write a few things about what I am learning before I forget it and my readers miss out. I know some things that I can do to try to get more readers to subscribe to my mailing list but I just don’t have the time to get to it right now. This is why I am not so bordered about the slow traffic. I still have a lot of things to do before they come.

Clear Goal Statement – Since I have declared my goal from the beginning and I have a time limit of 24months, I am able to motivate myself to keep going at least until the end of the 24th month.

Some Success – My blog is not totally unique if you are thinking of blogs that help people make money through blogging. However, I hope to show to people that, this path can be really slow and discouraging at the beginning. Usually it is very difficult to start – to register a domain and start your blog, but it is even much more difficult to continue to blog with a result of little or no income. Many of the blogs I have read were started after the blogger has gained some experience and made lots of money ($1000+). Although I did not start from zero myself, I am kind of starting form a low point of less than $200/month income. The fact that this money comes in is a great motivator because I figure that if I can make $100 without much effort to sustain it, I can learn to make $3000/month with some more consistent effort.

Some tips for Beginners

  • Start your blog today
  • Do something everyday no matter how little
  • Don’t give up – pace yourself right. Its better to write once a week than to write everyday for 2 weeks and burn out.
  • Keep learning – if you don’t stop you will have a breakthrough.

Success Report – July 2012

Income ReportIt gives me great pleasure to present a report of my 24-month exploration of passive income. This is the second income report since I began this project on June 19th 2012. This month has been a busy month because I was involved with a 10 days conference at our church in Montreal (I live in Kingston, Ontario); My parents and little brother came to visit from Nigeria for practically the whole month. Regardless of all these, I was able to maintain an average of 2hrs of work daily.

There are many things I thought I would be able to do in July but never got to do and there are things I never planned on doing that I got to do. Some of the new things that I started in July are; Infobarrel  and A new website – Article Directory. There are many other little things that came up in July. Overall, I am satisfied with my activities in July. Now lets see the Income.

 

  • Afropages and others (Google AdSense) – $186.29 (June - $156.37 )
  • L Niche Website (Google AdSense) -$0.59
  • I Niche website (Not developed yet) -$0
  • EPI (This Site)  - Bluehost  - $65
  • Love and Relationship -$0
  • African Reflection -$0
  • Infobarell -$0

Total Income for July – $251.88 (An increase of $95.51)

 

My Plan for August

  • Work daily on my ebook  (Read more about my ebook)
  • At Least 2 articles to Infobarrel
  • At least one article on Adeandolu.com
  • one new article on African Reflection
  • Add one article a week to my L niche website (4)
  • Write on EPI twice every week (8)
  • Add 4 pages to my previous website
  • Continue to add one back link every day

With this plan I would be writing about 20 or more articles this month. I know this would be a busy month because I am planning for another conference at the end of August and a another major meeting in September.

How is it going? – I am having a great time, I am seeing some financial result (although very little), I am seeing that there is some traffic so there is hope. I am learning a lot of things, I am able to inspire others to do what they have been thinking of doing. So far, I am encouraged and I look forward to writing another success report next month.