Wow, my second monthly income report! Once you start something then you must continue to take action until you reach your goal. February was a very short month. My short-term goal is to break the $100 per day mark for 3 consecutive months. I just barely broke the $100 per day mark for February by creating an average of $100.34 per day. I reached my goal! Now I have to continue this momentum into March to make it 3 straight months.
If you read my January 2013 Income Report, you are aware that I am currently using 3 primary strategies to make money online. The 3 strategies are book royalties, product creation and affiliate marketing. Without any doubt my affiliate marketing is responsible for the lion’s share of my monthly income. Here is a break down of my February 2013 monthly income.
During February I took one of my books out of circulation so I could work on updating it. As a result my book royalties declined during the month. I will be working on that book this weekend and will get it back published by next week. In addition I have been playing with pricing on my books to see what impact that has on sales. If you are going to test something then you will need to keep it in place for some time – usually at least 2 weeks – to see what impact the change has. Unless something changes my mind, I am going to just leave the new pricing in place for the whole month. This will allow me to compare February sales to March sales.
During February I created a new WSO that I sold on the Warrior Forum. I only advertised it for one week and did not bump it at all. The product grossed $357 in just one week. Product creation is one of the best ways for anyone to get started in Internet marketing. You can share something that know with others. Never short change you ability to know something that others will pay to learn. You do not need a website, an email list or anything else to create a product. My very first internet marketing product was my Amazon Affiliate Bible that I wrote in 27 hours. Yep, I sat at my computer for 27 straight hours and wrote the whole thing and only stopped for bathroom breaks and to feed my cat. I would encourage everyone to consider starting with this strategy.
This is my bread and butter for making money online. If you have every heard of the Pareto principle then my results of affiliate marketing proves this law. The Pareto principle is also known as the 80/20 rule. In my case more than 80% of my income comes from 20% of my work. For the first time in February I actually won a contest that one of my affiliate programs was running. As a result of winning I received an additional 30% increase in my commissions for the month. It was this 30% increase that put me over the $100 per day milestone.
February 2013 Income
Book royalties: $128.14
Production Creation: $374
Affiliate Marketing: $2,307.25
Total for February 2013 was $2,809.39.