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Monthly Income Report – February 2014

Income Report

Welcome to my February monthly income report!

Each month I share a detailed report of how much money I’ve earned from my various online businesses – to the penny.  No matter if it’s been an awesome month or a terrible month, you’re going to find out right here in these reports.

I’m doing this not only to be as honest and transparent as possible, but also to hold myself accountable and motivate myself to keep improving my income.  These reports may not be always be jaw-dropping (at least at first), but hopefully you’ll get a good feel of what it’s really like to be an online entrepreneur.  No hype, no gimmicks – just the facts.

Hopefully as time goes on though, these income reports will gradually keep growing and you’ll be able to follow along on my journey to become the next online income tycoon!

Summary

February unfortunately was a largely disappointing month as far as my productivity goes.  The last week of the month I was on vacation and even before that I was flat out lazy and didn’t put nearly as much work in as I would’ve liked.  However, thanks to my first full month of CreateSpace earnings my overall income actually went up slightly, even though my Kindle income dropped a bit.

This month I only published 1 Kindle book and 2 iPhone apps.  I did learn a few good lessons from these 2 apps though!  One of them was my first game – a Flappy Bird re-skin.  However, I was late to the party on the Flappy Bird trend and that app had disappointing results because of that.  However, it did give me some experience with games and re-skinning – something I’ll be experimenting more with in the future.

The little time I did spend being productive in February was dedicated to a new project I’ve been working on…a podcast which launched in early March.  While I’m going to hold off on sharing the podcast publicly for now, it is in the health/fitness niche and so far it’s been a cool experience!

Income Breakdown

iOS Apps (15)

App Downloads (Paid): 1,700 (-105)

App Downloads (Free): 3,310 (+3,298)

 In App Purchases: 10 (+10)

Ad Income: $17.30 (+17.30)

App Income: $1,170.00 (-$93.60)

Android Apps (4)

App Downloads (Paid): 2 (-3)

App Downloads (Free): 26 (-25)

Income: $0.35 (-$1.75)

Amazon Associates: $0.53 (-$1.22)

Kindle eBooks (84): $6,716.05 (-$1,705.78)

CreateSpace Books: $2,946.75 (+$2,206.36)

One Stop Kindle Publishing: $267.13 (+$267.13)

Online Income Tycoon

Udemy Affiliate Program: $44.50 (-$16.00)

Total Income: $11,256.21 (+$382.26)

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Comments

  1. Hi Thomas,

    Great job on another killer month! Must be nice making over 10k a month passively. I was wondering how you made money on podcast? Since they’re free.

    Eric

    • Thanks Eric! I haven’t made any money from the podcast yet as I’m just trying to grow the audience as much as possible now. Eventually though I’ll sell private advertising space at the beginning or end of the show. Since it’s in the health / fitness niche as well there’s plenty of potential for affiliate marketing as well as creating products or services to go along with it.

  2. Another good month Thomas :)

    Did you publish all you books through CreateSpace or just a select few?

    Can you recommend a book / online-course that runs through the key points to what you do foe Kindle publishing?

    Pete

    • Thanks Pete! The large majority of my books are available on CreateSpace. I don’t have a specific recommendation for a course that’s available that would teach my Kindle strategy – most of the ones I’ve read are pretty crappy to be honest and the ones I’ve thought were useful I’ve only taken bits and pieces from each. I have a couple of posts about it here so far and will be publishing more in the future though, so keep an eye out!

  3. Hi Thomas,
    What is One Stop Kindle Publishing and how is that different from
    Kindle eBooks?

    Thanks

    • Hey Don, One Stop Kindle Publishing is a site I whipped up but haven’t really put any real effort into promoting at all. It essentially let’s other people access my team of writers, editors, cover designers, etc. that I use for my own Kindle books. Other people get access to high-quality freelancers without having to sift through the crap and the scammers while I get a small commission so I view it as a win-win.

  4. Hey, I want to read your kindle ebooks, but I can’t find them! Can you share their links?

    thanks!

    • Sorry…I don’t publicly share the titles/links of my Kindle books. If you have any questions about finding profitable topics though, let me know and I’ll be happy to help!

  5. Hey Thomas, I thought your partial month of Createspace publishing was impressive but now we can see how supplementing with Createspace is a no-brainer for anyone already publishing Kindle books. At this point, how many of your Kindle titles have you added to Createspace?

    Congrats on your first app reskin. I’m reskinning my 6th app now. Nothing spectacular in app earnings but it’s growing. I’m learning the process and saving money by doing it all myself for now. Eventually I’ll outsource this but it’s a good learning experience for me. I also own a Flappy Bird source code but I’m hesitating on reskinning it because there are other apps I’d rather reskin. Look forward to next month’s report!

    • Hey Harlan – Yes, CreateSpace really should be a no-brainer for people publishing on Kindle. Wish I would have started earlier myself! I believe I have 65 of my Kindle books on CreateSpace at the moment.

      I’m still trying to get a feel for re-skinning games and whether that’s a good long-term strategy or not. I wouldn’t recommend doing the Flappy Bird re-skin at this point. As far as I can tell, that ship has sailed and so many people flooded the market, only the first few people really made anything substantial. I got mine up a week or two after Flappy Bird was taken down and so far the earnings haven’t been that good at all.

  6. Congratulations!!
    What was the cost you incurred in publishing one kindle ebook (most successful one) including content, cover, marketing and everything else.

    • Thanks Sandeep! Now that I have been publishing Kindle books for awhile and have built up a network of quality writers, editors, cover designers, etc. I can go from nothing to published Kindle book for anywhere from $90-200 for a 5,000 word book. The price all depends on which freelancers I use to complete it and what the subject is.

      • So if I break it down. For publishing kindle ebook I need following:
        1) Writer
        2) Editor/Proof Reader
        3) Cover Designer
        4) … What else?

        sorry I am new to this.

        • You’ll also need either someone to format your book so it displays correctly on Kindle or you can do it yourself since it’s not too difficult and can be done in Word or Pages. Other than that though, nothing else is required!

  7. Wow. Very impressive!
    I am going to give this a shot, I have been thinking of some topic ideas that I think might be very relevant and hopefully valuable information, to see what you are doing is very admirable.
    I have a team starting to develop some apps but we are in search of a graphics/asset creator…any suggestions?

    Thanks and nice job!

    • Thanks Bob! Unfortunately I don’t have any recommendations on a specific graphic designer as the current freelancers I use for app development are pretty much completely booked up. They aren’t specifically graphic designers though either…they’re primarily developers and just do enough graphic design to get some basic apps complete. Sorry I couldn’t be of more help!

  8. Nice work Thomas.
    You are a Kindly Tycoon by looking at your reports.
    Its clear that Android income for games or apps sux bigtime.
    It may be a true that there are billions of android phone users, but the value does not exist for developers there anymore.

    • Hey Shreedhar – I wouldn’t say that there’s no potential for income from Android apps. I think it’s just clear that the Android market is it’s own separate beast. If you just take your iPhone apps and throw them up on Google Play it probably won’t do you any good. I think if I devoted more of my time and resources to really trying to find success in the Android market it could be done – it’s just getting past the learning curve and really seeing what works and what doesn’t.

  9. In any of your summers in college will you try to pursue internships? Are you going to pursue a job after college? Or, in your summers and after you graduate do you want to pursue your business full time? I ask this because I’m in a similar situation, I am about to graduate with a great job at hand. However, one I thing is I would get bored in a corporate environment. Two, the amount of money I make online a year would probably take me my 1st 5 years in the corporate world to make.

    But, the thing that scares me the most is what if one day all my online businesses get hammered and in the future I’m somewhere in my 30′s with no job =/

    • I’d hesitate to give you advice on this one, as it’s a very personal decision with a lot of factors to take into consideration. As for me, I’ll be going to college for marketing…not necessarily because I think it will help me with my businesses, but because I enjoy learning everything I can about it. Also, it does provide a backup plan should my businesses crash and burn for any reason. Whether I take a job after college I haven’t decided myself.

  10. How many of your books are priced at .99 and how many are priced at 2.99? Have you found success with 1.99?

    • Hey Bob – I’d say maybe 80% are at $2.99 and 20% at $0.99. I haven’t played around with pricing at $1.99 nearly enough to form an opinion, but so far it doesn’t seem nearly as good as the other two prices.

  11. Hi Thomas!
    Thanks for a nice post, but it’s already May and there’s no new content on your blog. I’m looking forward to seeing how your business is doing and what are your latest ideas. Please, write something soon :)

    • Hey Bartek – Thanks for the nudge! I’ve been dealing with some personal issues the past couple months so I’ve kinda been MIA lately. However, I’m getting back into the swing of things so I’m hoping to get caught up and start cranking out the content again soon!

  12. Wow, you are making a bundle out of the free apps. Its very interesting that you make more with free apps then paid apps.

    • Hey Shruti – Where do you see that? I often get more downloads from when my apps are free, but the vast majority of my money comes from paid apps at the moment.

  13. Please add to your newsletter. Thanks!

  14. Thank you for sharing what you’ve learned!!! I’m just getting into writing Kindle ebooks and your suggestions are invaluable to me. I believe that you cannot fail because you give what you have learned away without asking for anything in return. Your giving ensures your success! Shine on!!

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