My Monthly Income Report — August 2013

Twenty Bucks

As you will know if you read my last income report, July was a month of major change for me. I made the transition from a “traditional” freelancing model to a sub-contracting business model in which I hire writers for much of my client work.

The thinking behind this was simple: I could earn say 60% of the income in just 10% of the time. Given that I had so many other projects that I wanted to work on (that could in the long term make me even more money), the idea was too tempting to pass up.

So I dove in at the deep end and made the switch. I launched Clear Blogging Solutions and set about attracting new clients. My aim was to surpass my record earnings of $6,206 within the following 2-3 months.

But as is often my wont, plans have changed rather drastically since then. My outlook on what I want my business to look like is clearer than ever. That strength of clarity is only matched by my optimism for the future, which is at an all-time high. Read on to find out why!

5 Lessons Learned from My Failed Authority Blog Project

Failure

In my experience, a lot of people are under the impression that once you’ve “made it” as an entrepreneur (whatever that means), you stop making mistakes.

Well, I certainly haven’t. I’m probably making as many mistakes these days as I ever did. Fortunately, I’ve also had some success along the way to balance things out.

I don’t see failure as the enemy. Failure usually offers up huge learning opportunities. Furthermore, rarely is any failure a true “failure” in the literal sense of the word.

The failed project I am going to discuss in this post provides one such example of how beneficial failure can be. It has taught me an enormous amount and (to an extent) defined the direction of a major future project of mine. I for one am bizarrely happy that I was victim to such “failure.” Read on to find out why!

Exploring the Less Glamorous Side of Leaving Work Behind

Piggy Bank

When it comes to leaving work behind, most people have an overriding focus on making more money.

However, there’s so much more to the concept of leaving work behind than that. While it is about creating the financial freedom that enables you to do what you want, making more money doesn’t have to be the key factor in that equation.

In this post I want to cover a topic that is far less glamorous than making money, but can get you  closer to leaving work behind far more quickly than you might have previously imagined.

Why You Shouldn’t Be Blogging

Photo Credit: Andy P

When it comes to making money online and the “passive income” dream, the first thing that comes to mind for many of us is blogging.

And why not? Examples of successful bloggers abound and the barriers of entry are practically non-existent. You can decide to start a blog now and be up and running in ten minutes time. Personally speaking, I attribute a great deal of my success to this blog.

But in my opinion (and with the benefit of hindsight), creating a blog with the aim of monetizing it is not the best way to build a sustainable online business quickly. Not by a long shot. Although I am a huge fan of blogging, in this post I want to play devil’s advocate and explain why it is an inferior method of making money online. I’ll also explain what I think you should do in order to give yourself the best possible chance of building a successful online business.

My Monthly Income Report — July 2013

Photo Credit: Images of Money

In last month’s income report I said that June was a “pretty pivotal month.”

Well, July took pivotal and slapped it in the face. Not since I woke up one morning in May 2011 and decided that I simply had to quit my job have I experienced such potentially life-changing thoughts as I have through the past month.

Those radical thoughts have already been documented in a couple of posts I have published in the past few weeks: How I Plan to Revolutionize My Online Business and My Thoughts on the Future of Leaving Work Behind (And Blogging in General). But in the context of this post, I suppose the pertinent question is, “How have these thoughts affected my income?”

As always, you can expect full disclosure from me.