Sunday, 4 February 2018

Income Report: January

It's amazing what can happen when you get your focus better aligned. Don't get me wrong, I haven't suddenly hit the big time. Far from it. I'm nowhere near where I need to be.

But by acting more strategically, as opposed to simply doing and going for what's right in front of me, things are changing. I'm certainly transitioning to a new business model.

The fly in the ointment (of sorts) is that I may be shifting back into the corporate world soon, and away from my business as a coach (which I don't include in these blog posts). I've been waiting around for this opportunity and apparently it may happen.

If it does come to fruition, I still plan to do my online and passive income initiatives. I think we all need to have them to secure financial and personal freedom. My model may have to shift again to be as hands-off as possible.

In the meantime, I'll simply push on with what I've got. So let's look at the income streams and what's going on there:

Resume Writing: $733. I consciously decided to do less in this space in order to diversify my income streams. Ironically, the balance of work has actually improved. Firstly, the firm I've been working with has raised the pay per resume. Secondly, I'm now being offered more Executive (i.e. bigger ticket) jobs. Thirdly, the approach to writing LinkedIn profiles has changed so that they are less complicated and should take less time. Overall, these changes should mean a better return on my effort. We'll see.

Writing: $1,410. This has suddenly taken off. Not that I've yet been paid for them all (or in fact completed all the jobs) but I'm counting them now anyway. I've managed to get two PeoplePerHour finance writing gigs, one of which has offered repeat business. I've also started writing award submissions on behalf of law firms, something I was offered through a business contact. Finally, I've been offered more career advice writing for a site. And to think I was trying to shift away from writing...

Amazon Merch: $0. After waiting 11 months, I finally got accepted on Merch. And so begins my t-shirt business. I decided to use Fiverr for some of my first few designs, while I learn the nuts and bolts of designing on my own. So far, so nothing. But I'm finally building out passive income opportunities.

eBook: $2.50. I think the algorithms must have changed as I didn't get much traction over the month. I guess it would help if I did a little marketing of my books...(The Simple Guide to a Winning LinkedIn Profile and Craft a Winning Resume)

Dividends: $0. Nothing to see here. None of my stocks paid a dividend during the month. But I've invested more into the market targeting higher dividend yielders, so hopefully, I'll see increased returns over coming quarters.

Total: $2,145

Looking ahead:

My goal is to shift out of the low-value income streams into higher value. I'm writing another ebook at the moment, which I intend to get out before the end of February. But it's a volume game and I feel there are possibly better opportunities for me elsewhere than these books.

I've talked about online courses for a while now but I haven't yet created one. That has to be my focus for the first half of the year. I've also not been able to make any affiliate income so far. I've got a few underutilized websites and it's about time I made them work for me.

The next few months could see lots of change. That would be great as I spent way too much time spinning the same plate last year.

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