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Online Income Tycoon http://onlineincometycoon.com Creating Online Income Streams for a Lifetime of Profits Wed, 17 Aug 2016 02:28:59 +0000 en-US hourly 1 https://wordpress.org/?v=4.4.5 I’m Back! What I’ve Been Up To & Lessons Learned from Neglecting My Businesses for 3+ Months http://onlineincometycoon.com/im-back-what-ive-been-up-to-lessons-learned-from-neglecting-my-businesses-for-3-months/ http://onlineincometycoon.com/im-back-what-ive-been-up-to-lessons-learned-from-neglecting-my-businesses-for-3-months/#comments Fri, 27 Jun 2014 22:35:37 +0000 http://onlineincometycoon.com/?p=974 backbypopulardemandI wanted to share a quick update with everyone as to what I’ve been up to the past 3-4 months.  I’ve gotten quite a few messages from people asking where I went to and why I haven’t been publishing new posts/podcasts on OIT, responding to emails, etc.

To be honest, these past few months I’ve not only neglected OIT but also the rest of my businesses.  As an estimate, I probably worked on them around 2-3 hours total since the beginning of March.  Unfortunately, some personal issues came up which caused me to not be able to put almost any time into them.

Although my income is technically from “passive” sources, no matter what business you’re in, if you neglect it for 3-4 months straight there are going to be some negative consequences.  As you can tell by reading my March, April, and May income reports, both my Kindle and iPhone app income took big hits compared to their peaks.  However, a bright spot over the past few months has been CreateSpace.  While my Kindle income dropped, my income from CreateSpace stayed steady and even grew!

I’m happy to say though that I’ve started working again over the past week and have been SUPER productive.  I’ve still got a lot of catching up to do to get back to where I was before I stopped working, however a lot of the immediate “damage control” items are taken care of and I’m ready to step up my game this summer and get my income not only back up to where it was, but higher!

Graduation

Speaking of summer, another positive thing that happened during this time was I graduated high school.  I now have the summer to dedicate 100% to my businesses until college starts in the fall when I’ll be attending the University of Pittsburgh.  I’ll definitely still be working on my businesses during my time there just like I did throughout high school.

I hope you all have been more productive than me during these past few months and continue to keep it up!  If you’ve been lacking motivation recently or haven’t been as productive as you’d like to be…there’s never been a better time to get going and crush it this summer!  Let’s do this!

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Monthly Income Report – May 2014 http://onlineincometycoon.com/may2014/ http://onlineincometycoon.com/may2014/#comments Fri, 27 Jun 2014 22:16:12 +0000 http://onlineincometycoon.com/?p=972 Income Report

Welcome to my May 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

See my recent post: “I’m Back!  What I’ve Been Up To & Lessons Learned from Neglecting My Businesses for 3+ Months

Income Breakdown

iOS Apps (16)

App Downloads (Paid): 951 (-89)

App Downloads (Free): 29 (-19)

 In App Purchases: 7 (+7)

Ad Income: $7.09 (-$5.88)

App Income: $669.00 (-$49.00)

Android Apps (4)

App Downloads (Paid): 5 (+2)

App Downloads (Free): 26 (+6)

Income: $3.50 (+$1.40)

Amazon Associates: $0.00 (-$5.16)

Kindle eBooks (86): $2,246.35 (-$1,239.61)

CreateSpace Books: $5,065.05 (+$369.72)

Total Income: $7,990.99 (-$928.53)

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Monthly Income Report – April 2014 http://onlineincometycoon.com/april2014/ http://onlineincometycoon.com/april2014/#comments Fri, 27 Jun 2014 22:10:43 +0000 http://onlineincometycoon.com/?p=970 Income Report

Welcome to my April 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

See my recent post: “I’m Back!  What I’ve Been Up To & Lessons Learned from Neglecting My Businesses for 3+ Months

Income Breakdown

iOS Apps (16)

App Downloads (Paid): 1,040 (-439)

App Downloads (Free): 48 (-541)

 In App Purchases: 0 (-11)

Ad Income: $12.97 (-97.59)

App Income: $718.00 (-$261.00)

Android Apps (4)

App Downloads (Paid): 3 (+0)

App Downloads (Free): 20 (-3)

Income: $2.10 (+$0.00)

Amazon Associates: $5.16 (+$4.76)

Kindle eBooks (86): $3,485.96 (-$1,091.10)

CreateSpace Books: $4,695.33 (+$1,759.30)

Total Income: $8,919.52 (+$314.37)

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Monthly Income Report – March 2014 http://onlineincometycoon.com/march2014/ http://onlineincometycoon.com/march2014/#respond Fri, 27 Jun 2014 22:04:04 +0000 http://onlineincometycoon.com/?p=968 Income Report

Welcome to my March 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

See my recent post: “I’m Back!  What I’ve Been Up To & Lessons Learned from Neglecting My Businesses for 3+ Months

Income Breakdown

iOS Apps (16)

App Downloads (Paid): 1,479 (-271)

App Downloads (Free): 589 (-2,721)

 In App Purchases: 11 (+1)

Ad Income: $110.56 (+93.26)

App Income: $979.00 (-$191.00)

Android Apps (4)

App Downloads (Paid): 3 (+1)

App Downloads (Free): 23 (-3)

Income: $2.10 (+$1.75)

Amazon Associates: $0.40 (-$0.13)

Kindle eBooks (86): $4,577.06 (-$2,138.99)

CreateSpace Books: $2,936.03 (-$10.72)

One Stop Kindle Publishing: $0.00 (-$267.13)

Online Income Tycoon

Udemy Affiliate Program: $0.00 (-$44.50)

Total Income: $8,605.15 (-$2,651.06)

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Monthly Income Report – February 2014 http://onlineincometycoon.com/february2014/ http://onlineincometycoon.com/february2014/#comments Sun, 16 Mar 2014 07:19:50 +0000 http://onlineincometycoon.com/?p=961 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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Monthly Income Report – January 2014 http://onlineincometycoon.com/january2014/ http://onlineincometycoon.com/january2014/#comments Mon, 17 Feb 2014 14:19:29 +0000 http://onlineincometycoon.com/?p=942 Income Report

Welcome to my January 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

January was a fantastic month for my businesses!  I was able to release 1 new app and around a dozen new Kindle books over the course of the month.  On top of that, thanks to a recommendation from Harlan from Freelance Doodle I created a new stream of income from publishing paperback versions of my Kindle books through CreateSpace.  After seeing the results from just a partial month of CreateSpace sales, I’m really sorry I didn’t take it seriously earlier!

I’m really excited to share my results with you, as not only was January a record month, but it’s my first 5 figure month!

Income Breakdown

iOS Apps (13)

App Downloads (Paid): 1,805 (+259)

App Downloads (Free): 12 (+6)

Income: $1,263.60 (+$181.30)

Android Apps (4)

App Downloads (Paid): 5 (+3)

App Downloads (Free): 51 (-26)

Income: $2.10 (+$1.40)

Amazon Associates: $1.73 (-$49.02)

Kindle eBooks (83): $8,421.83 (+$1,174.83)

CreateSpace Books: $740.39 (+$740.39)

Online Income Tycoon

Udemy Affiliate Program: $60.50 (+$51.00)

Source Code License Sale: $383.80 (+$383.80)

Total Income: $10,873.95 (+$2,493.30)

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Finding UNLIMITED Potential Kindle Book Topics – Method 1 – Amazon Bestseller Lists http://onlineincometycoon.com/finding-unlimited-potential-kindle-book-topics-method-1-amazon-bestseller-lists/ http://onlineincometycoon.com/finding-unlimited-potential-kindle-book-topics-method-1-amazon-bestseller-lists/#comments Mon, 10 Feb 2014 13:46:52 +0000 http://onlineincometycoon.com/?p=924 Button BestsellerNow that we’ve learned how to determine daily book sales based off of Amazon rankings, the next step we need to cover is how to find potential book topics.  The goal is to create a list of a bunch of potential topics that we can later check for profitability.

To be clear, not all the topics we find using these methods are going to be good topics for us to publish books on.  This method is about finding topics where we KNOW at least one book is selling well, so we’re hoping that the one book is a sign that other books in that topic are selling as well.

Anyway, the first step in this method is navigating to the Kindle nonfiction bestseller list.  To get there from the Amazon homepage:

  • To the left of the search bar, hover over “Shop by Department”.
  • Hover over “Books & Audible”.
  • Click on “Kindle Books”.
  • In the sidebar on the left, under the orange heading “Popular Features” click on “Kindle Best Sellers”.
  • In the sidebar on the left, click “Nonfiction”.
  • You should end up on this page.

Here we can see the top 100 paid and top 100 free nonfiction Kindle books.  As you can probably tell, especially on the top 100 paid, the list is dominated by traditionally published books with huge marketing budgets as well as books by celebrity authors.  However, we’re searching through these lists with the goal of finding self-published books.

The logic behind looking for self-published books on the bestseller lists is that if one book by an unknown author can sell really well about a topic, maybe if we write one too we can achieve the same results.  Like I said at the beginning of this post, not all the topics we find using this method are going to be good topics for us to publish books on.  They’re just ideas that we’ll eventually figure out which ones will be good topics and which ones won’t.

Now you’re probably wondering how to tell which books out of these 200 are self published.  It sometimes can be hard to tell for sure, but here are some good indicators:

Cover

Most self-published authors don’t have professionally designed covers.  If the cover of a book looks like it was thrown together by a 12 year old with photoshop or a cheap gig on Fiverr, then that’s a good sign it’s self-published.  For example, take a look at the two covers below (both Kindle books currently available) and tell me which one is self-published and which one is traditionally published?

 

Price

Granted this won’t work in the top 100 free list, if you’re looking in the top 100 paid list you can tell a book is self-published sometimes based off it’s price.  Most self-published Kindle books are either $0.99 or $2.99.  On the contrary, most traditionally published books are NOT $0.99 or $2.99.

Page Count

Self-published books are oftentimes shorter than the average traditionally published book.  From my experience, most traditionally published books are over 200 pages.  If you see a book that has less than 100 pages, that screams self-published.

Publisher

Down in the “Book Details” section where you’d find the Amazon Ranking, look to see if a publisher is listed.  If not, there’s a good chance it’s self-published.

Number of Reviews

Traditionally published books with huge marketing budgets and celebrity authors tend to get hundreds, if not thousands, of reviews.  While this may not always be the case, if a book has over 100 reviews, there’s a good chance it’s not self-published.

Print Version

While CreateSpace has made it easier for self-published authors to make their book available in print, many self-published authors don’t take advantage of that.  If there is not print version available, then it’s almost always self-published.

What Next?

Once you’ve gone through both the top 100 paid and top 100 free nonfiction Kindle book lists and picked out all the ones that you think are self-published, create a list of all their titles.  If you see that there are multiple books on your list about the same topic, great!  That’s a good sign!

We’ll come back to how to verify if these topics are profitable or not in a future post coming soon, so if you haven’t already, make sure to sign up for the OIT mailing list located in the sidebar, or directly under this post!

In the mean time, if you have any questions about this method, please go ahead and ask them in the comments section below!

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4 Tips to Make Sure You Stick with and Achieve Your 2014 Goals! http://onlineincometycoon.com/4-tips-to-make-sure-you-stick-with-and-achieve-your-2014-goals/ http://onlineincometycoon.com/4-tips-to-make-sure-you-stick-with-and-achieve-your-2014-goals/#comments Sat, 25 Jan 2014 20:55:47 +0000 http://onlineincometycoon.com/?p=908 GoalSettingWe’re approaching the end of January and if you’re like most people, the freshness and excitement of your new year’s resolutions have probably worn off by now.  Only a few weeks ago you were telling yourself this was going to be “your year”, but now your motivation has fallen and you’re settling back into your old ways.

Stop.

We’re not even 10% into 2014 yet!  If you’re serious about sticking with and achieving your goals this year, whether they’re personal or business related, you still can!  Here are my 4 tips to help you CRUSH your goals this year and REALLY make 2014 your best year ever!

1. Know Your “Why’s”

Having goals alone isn’t good enough!  If you don’t have specific and impactful reasons for you wanting to achieve your goals, you’ll never stick with them!

WHY do you want to lose weight?  WHY do you want to quit your job and go full time with your online businesses?  Don’t stop at the obvious answers though…keep diving keeper and keeper until you come up with your core reasons you want to achieve each goal.

For example, someone might have a goal that they want to build their online businesses up to at least $4,000/month.  Great…why?  The obvious answers would be “to quit my job” or “to be financially free”.  After you keep diving deeper, a core reason might sound like this:

“I want to build my online businesses up to at least $4,000/month because I want to be able to stop feeling trapped in my job and start living my life to the fullest.  I want to be able to provide for my family and not have to constantly worry about our finances.  I want to have the free time and extra money that passive income provides to be able to pursue my passions and travel with my family.”

Take some time to figure out what YOUR why’s are and WRITE THEM DOWN.  There’s no right or wrong answer – don’t just write something down because someone else said it.  Make sure it resonates and is impactful for you.  That’s what will keep you motivated throughout the year.

2. Break Up Your Goals

Having to wait a year to succeed is a LONG time.  Motivation comes from seeing success though, so if you have to wait a whole year to be successful, it’s natural that your motivation may drain.  That’s why it’s important to break your goals into smaller goals.

For example, if you’re goal is to create a blog with an audience of 10,000 readers this year, that’s fantastic!  However, that large and vague goal leaves you feeling overwhelmed and unmotivated when you’re first starting out.  Break that goal down into smaller goals.  My suggestion is to make 12 monthly goals, that way you can review your progress at the end of each month!

However, don’t stop after making 12 monthly goals!  Keep breaking down your first month’s goal into smaller weekly goals.  Finally, break down your first week’s goal until you essentially just created a daily to-do list for yourself that will directly lead you to achieving your yearly goal if you complete it!

3. Review, Review, Review

Most people don’t even both writing their goals down, never mind consistently reviewing them.  As a result of living a busy life, these goals eventually get shoved to the back of our minds and end up not achieving them.  Don’t let this happen to you!

Write down your goals and make sure to review them at minimum once a week, if not more often.  A good idea is to hang them up somewhere where they’ll be in your face every day!  Your bathroom mirror, over your computer, or even on the ceiling above your bed are all good locations so that you’re constantly reminded of your goals and motivated by them!

4. Defeat Your Excuses Before They Happen

What is the main killer of goals?  Excuses.  It’s human nature to try to convince ourselves to take the path of least resistance and do what’s easiest.  However, what’s easiest 99% of the time isn’t what’s BEST for us!

In order to combat excuses, we need to kill them before they happen!  For example, if your goal is to exercise 5 days per week, you know things are going to come up and you’ll have to work around them.  Most people don’t come up with a plan for these excuses though, and end up losing their motivation after their excuses overcome their plans.

Using that same example, let’s make up a few difference scenarios and come up with “If this then that” statements.

If I wake up late one day and don’t have the time to exercise before work, then I’ll take a 30 minute walk during lunch break.”

If I get bored of jogging, then I will visit the local fitness club to look into aerobics classes.”

As you can probably tell, there are limitless scenarios that you can come up with “If this then that” statements for.  Obviously, you won’t be able to think of EVERY excuse up front, but you can definitely eliminate at least 75% of the most common ones and give yourself the absolute best shot to stick with your goals!

In Conclusion

If you’ve continued to make progress with your goals so far this year, congrats!  If not, there is NO better time than today to get back “on the horse” and crush your goals this year!

Hopefully these tips will help to keep you motivated throughout the rest of the year and let you experience success!

Do you have any tips or tricks to stay motivated?  If so, help out the entire OIT community and post them in the comments section below!  I can’t wait to read them!

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Monthly Income Report – December 2013 http://onlineincometycoon.com/december2013/ http://onlineincometycoon.com/december2013/#comments Tue, 07 Jan 2014 04:05:55 +0000 http://onlineincometycoon.com/?p=903 Income Report

Welcome to my December 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

Happy New Year!  I’ll get into some goal setting and share some of my business goals for 2014 with you in a future post, but for right now let’s talk about 2013 still!  December was an amazing month for me, seeing a decent spike in my iPhone earnings and a huge spike in my Kindle earnings due to people getting new devices on and around Christmas.  On Christmas day alone I had my best day ever for Kindle sales, reaching just about $600.

The earnings spike wasn’t all from Christmas sales though.  In December I released 1 new app and 8 new Kindle books.  I found some fantastic new niches in Kindle that really helped bump up my earnings and I’m excited to keep attacking them in 2014.

As for apps I did get one published, but a few of the ones I was working on got postponed due to (what I feel is unfair) rejections by Apple.  However, I’m working on updating them to meet Apple’s criteria so hopefully I get get them released in January.

Income Breakdown

iOS Apps (12)

App Downloads (Paid): 1,546 (+443)

App Downloads (Free): 6 (-5,215)

Income: $1,082.20 (+$310.10)

Android Apps (4)

App Downloads (Paid): 2 (-5)

App Downloads (Free): 77 (-2)

Income: $0.70 (-$2.80)

Amazon Associates: $50.75 (+$33.73)

Kindle eBooks (70): $7,247.00 (+$5,012.00)

Online Income Tycoon

Private Advertising: $0.00 (-$288.00)

Udemy Affiliate Program: $9.50 (+$5.00)

Total Income: $8,390.15 (+$5,070.03)

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OIT 007: From Lazy High School Student to Successful Young Entrepreneur – Interview with Jeet Banerjee http://onlineincometycoon.com/session7/ http://onlineincometycoon.com/session7/#comments Fri, 13 Dec 2013 21:42:24 +0000 http://onlineincometycoon.com/?p=897 OIT Podcast Artwork

In this session of the Online Income Podcast I’m joined by Jeet Banerjee, a 21 year old serial entrepreneur from California.  Jeet’s started pursuing entrepreneurship in high school where he made over $5,000/month from his web design and multimedia company, JB Media Force before selling it for a payoff of between $25,000-$100,000.

As if that wasn’t enough he’s now running two successful businesses as well as writing books, speaking, and consulting.

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In this session you’ll learn:

  • How Jeet started a web design company as a high school junior without doing any of the development himself.
  • Why Jeet got his first web design client BEFORE worrying about finding a developer, and why that’s the smart thing to do.
  • How Jeet went from outsourcing projects to freelancers to creating his own office and full-time team in India without ever leaving California.
  • Jeet’s thoughts about whether young entrepreneurs should go to college.
  • How Jeet’s college admission site gained 12,000 users in only 2 weeks without spending ANY money on marketing!
  • How Jeet generates massive publicity that landed him features in the New York Times, Yahoo, and Young Entrepreneur.

Right click here to download the MP3

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Also, feel free to leave a comment below with your thoughts about today’s episode!  Jeet will be dropping in to answer any questions you may have as well, so ask away!

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