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Monthly Income Report - January 2014
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Monthly Income Report – January 2014

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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Comments

  1. Well done Thomas, but I think you would increasing your credibility even more if you revealed one of your more successful book on Amazon Kindle. Just look at Steve Scott, he is completely transparent about his Kindle books and recently he published a report where he stated that he had earned over 20k previous month I believe.

    • Thanks! I don’t plan on making any of my book topics public any time soon. I show people exactly how I have found success with Kindle (for free) so everyone else has the information they need to succeed as well. I feel that the only people I’d be helping by sharing specific titles and topics are the people who are lazy and will simply copy my books.

  2. Hey Thomas, that’s incredible what you were able to do with only a partial month on Createspace! Since you already know topics that sell on Kindle, I won’t be surprised when your print sales overshadow your Kindle income.

    I know you had your books written by others but did you outsource the creation of the PDF manuscripts and covers that you uploaded? I’m glad it’s working out for you!

    Also, what source codes are you promoting to earn your affiliate income? Are they from Udemy courses or are you promoting from one of those other source code sites? I’m diving deep into the app reskinning market and looking for more source codes.

    • Thanks Harlan! While I don’t picture my CreateSpace sales surpassing Kindle (at least in the near future) it’s definitely another awesome source of passive income to add to my portfolio! If things go well, I may make more in 2014 from just CreateSpace than I did from Kindle in 2013 :)

      I did outsource the conversion of all my Kindle covers to CreateSpace friendly ones. The formatting of the actual content was so similar to how I format for Kindle that I just did that part myself.

      My Udemy affiliate income is a nice surprise as I only really ever “promoted” one course of Spencer Costanzo’s on Episode 3 of the OIT podcast. The source code was a license of the code I used for my news apps I sold to an OIT reader who contacted me.

  3. Congrats on your first 5 figure month, nice! A couple of quick questions:

    1. Is there a word count limit your book needs to have so it can be published on CreateSpace? Have you created paperbacks for your shorter ebooks too?
    2. Do you still have your all ebooks in KDP Select?
    3. Are you using email lists or haven’t started building them yet?
    4. How many pen names/niches do you actually have now?

    Thanks!

    • Thanks John! To answer your questions:

      1. It needs to be a minimum of 24 Word document pages long. However, there are a few tricks to get around that if you’re slightly under that such as increasing your font size or using double space instead of single space.

      2. Yes, though I haven’t tested it nearly enough, I believe that the benefits of getting money for borrows plus the added value of the free promo days makes KDP Select worth it.

      3. Yes I have an email list of around 3,250 that I’ve been building for the past few months from my Kindle books.

      4. Of my 80+ books they are probably spread out across 60-65 different topics/keywords. I probably have at least 40-50 pen names, most of them with only one book associated with each.

      Hope that answers your questions!

      • Thomas thanks for your reply. Wow 40-50 pen names? That’s crazy :) I thought you publish multiple ebooks but in a couple of ‘niches’. So how do you organize your email list? I mean, ‘3250’ people subscribed for all of your pen names?

        • They’re all in one email list, but I’m planning on separating them as well by what book they bought so if I want to only send emails to people who bought “health/fitness” books for example, I could do that.

  4. Very well done, congrats!

  5. Just came over to link your blog to a guy who just emailed me about different ways to make passive income. Gonna show him what’s possible with Kindle books. :) Great job Thomas!

  6. Hey,
    do you have any suggestions on how to spread the free promo days of KDP select?

    Keep the great work up :)

    • Hey Phil – At the moment, I’ve found that the best way to utilize your 5 free promo days is to use them all back to back. I do this a few days after I release the book after I have a couple good reviews under my belt. That seems to work well for me, however I could be doing a lot more testing on this which I plan to do moving forward to see if this is still the best strategy.

  7. Hi Thomas,
    how much of your income comes from your top 5 books? I assume you have some huge differences in sales between your ~80 books or is it more or less evenly distributed. And how is your worst book performing?
    Greetings
    Frank

    • Hey Frank – Thanks for the comment! My best book ever was selling $500/day in April 2013 – however that was only for a very short period of time. Since then I’ve had other “best” books but it changes constantly. My worst book sells 0-1 copies per month. My Kindle income follows the 80/20 rule – 80% of my income comes from 20% of my books and the remaining 20% of my income comes from the remaining 80% of my books.

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