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Monthly Income Report - May 2013
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Monthly Income Report – May 2013

Income ReportWelcome 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

May was pretty hectic with the end of school wrapping up which means having to worry about finals.  However, I did manage to spend quite a bit of time working on the businesses.  In addition to working hard on the rebranding process from Mobile App Tycoon to Online Income Tycoon, in May I published 6 new Kindle books and 1 new app (Ultimate Fan Apps – Taylor Swift Addition).  This app has been doing well so far, and was released in the last few days of the month, so we’ll see our first full month of earnings from it in June!  In addition, I hired and developed one new iPhone app which will hopefully be launching in mid June!  Plus after the first week of June I’ll be out of school and be able to focus 100% on my businesses :)

Income Breakdown

iOS Apps

SharePrayer

Downloads: 0 (-4)

Income: $0.00 (-$2.90)

SharePrayer Free

Downloads: 16 (-15)

Income: $25.00 ($0.00)

Ultimate Fan Apps – Taylor Swift Edition

Downloads: 54 (N/A – 1st Month)

Income: $37.80 (N/A – 1st Month)

Android Apps

SharePrayer

Downloads: 1 (-1)

Income: $0.70 (-$0.70)

SharePrayer Free

Downloads: 31 (+1)

Income: (Combined with iOS version.)

MadLibs Word Generator

Downloads: 7 (+5)

Income: $2.45 (+$0.23)

Gift List Organizer

Downloads: 16 (+1)

Income: $0.00 ($0.00)

Total from Apps: $65.95 (+34.43)

Amazon Associates: $6.42 (N/A – Not reported last month)

Kindle eBooks (30): $2,007.50 (N/A – Not reported last month)

Total Income: $2,079.87

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Comments

  1. How much on average do you earn per kindle book you create and do you do keyword research and get them to rank in google. Also what do you plan on doing after you leave school, get a job or continue with your business, I am a teen too sitting my final exams but I am no way near where you are with income.

    • Hey Ash – Well I had 30 books live so in May I earned around $67 per book average. However, that number’s completely skewed as that’s counting a couple books that were just published the last few days of May as well as around 5-7 books I published when I was just getting started that don’t really make any money. As for future plans – my goal is to put myself in a position where after college I won’t NEED to take any job. The only way I’d take a job is if I WANT a particular job and I’d be willing to do it regardless of pay. However, as of now I see myself continuing to build my businesses rather than going a traditional 9-5 route.

  2. Do each book stand on their own or are you utilising an email list or something, it amazing you can get that much traction from scratch. Also, how would I format a kindle book without software using Linux Abiword do you know.

    • Nope, I don’t really do any promotion for my books outside of Amazon. It’s all about picking profitable topics to write about and setting them up to get lots of natural traffic and buyers from Amazon. Not completely sure about formatting using Linux, as I use Pages for Mac to format and I’m not sure how similar that is to what you use. However, in a worst-case scenario, there are paid tools out there that will take a document and “instantly format” it for you. However, from my (albeit limited) experience they don’t work as well as actually formatting yourself manually. I’ll be posting tutorials for how I format in the near future so you can follow along and hopefully learn how to do it yourself.

  3. Hi Thomas this is really amazing what you do with your businesses, to have 30 ebooks i think that you hire writer to make them so how do you do, you hire freelance or full time writer, personnally i prefer to hire full time writer because i like to have them on my staff.

    • Hey Walid – Thanks! All my Kindle books so far have been outsourced to writers. I only hire writers on a project-by-project basis as I feel they’re more productive that way and it saves me money. However, I do have writers who I am consistently working with again and again so it is almost as if they are part of my team.

  4. Hey Thomas how many reviews do you have on average per book. Also after what number of reviews have you seen sales really start to pick up?

    • Hey Mike – It’s really tough to give an average, as it all depends on how popular the books are. Obviously, the more popular, the more natural reviews you’re going to get. Some of my more popular books have 50+ reviews while some only have 1 or 2. Most probably have between 4-10 I would say. I haven’t really noticed a significant increase in sales after “x” number of reviews, besides 1. It’s more your average rating of all the reviews that makes more of a difference in sales from my experience.

  5. Chris Nie says:

    What are some of your best selling books? Congrats on making so much money I hope to be in your shoes one day.

    • Thanks Chris! I haven’t revealed any specific titles of my books yet, but currently I’m having some success with health/fitness books as well as “how to” and guide books.

  6. Hey Thomas! We should talk, could you message me on email? Im also publishing ebooks and im on the similar niche as you are.

  7. Hey Thomas,
    How do you get revenue from free apps for both iOS and Android?
    I see the SharePrayer Free for iOS has 16 downloads and for Android has 31 download, and both combined earn you $25,00.
    Do you use ads network? What ad network do you use?

    • Hey Andy – The $25.00 from the iOS and Android versions came from a private advertising deal. $25/month for two months to have a banner ad at the bottom of the app, typically where you might see ad network ads.

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