So I was really on the fence about doing Income Reports but I know they are really popular with people (I know I love to read them!)
Mostly these reports are just to satisfy peoples curiosity into how others are doing.
But the more I thought about it I really decided my Income reports can be especially beneficial to the people I am trying to reach.
I have been doing this online thing for a bit and making pretty good money BUT I still only have a few clients and have not even quit my full time day job yet!
So I am really still at the beginning of this trip, especially when compared to the super successful online folks we have all heard of like the Pat Flynn and the John Lee Dumas of the world.
As I’ve mentioned before my blog is really for you if you are in that similar situation. You are just starting out or making money online now but not enough yet to have quit your day job.
So I think this is an opportunity to see these types of reports early on instead of after someone is already killing it!
I wont be doing these reports every month because frankly they are to much work but I do plan on doing them at least 3-4 times a year because not only will it give you some helpful insights I think it will help keep me motivated to keep earning more.
Historical Internet Earnings
So here are some numbers from a previous blog post. It shows my client earnings each month and you can see how its steadily growing (except for May which was due to my client not being available to close his calls).
Now keep in mind these numbers are just from one client, by far my most profitable one, but still pretty good.
I have another client who I make hundreds instead of thousands a month with and another who I just started on so haven’t made any money yet. (I get paid by performance; ie the amount of leads I get them. That’s why is starts off low and slow but can grow to be very lucrative.)
So very happy to report that the trend continues and I had another record month for both my best client and my second best client in September of 2016.
September 2016 Income
Internet Marketing Client 1:
This is the big Kahuna. My client who I focus the most time on and make by far the most money with.
So how did I do in September 2016? Our best month ever!!
$8,271.45
My goal is to make $10,000 a month just off this one client alone (which means he would be making over a million in his business only from the clients I get him).
As you can see I’m really close to reaching that goal. My first month ever working with him when I was completely new to this, I earned a whopping $87 dollars!
Even as recently as January of 2016 (see picture above) it was just $2,790.00. Now we just had my first month ever of breaking $8,000 and I think I know what needs to be done for it to finally break $10,000.
Internet Marketing Client 2:
My second main client is not in as a lucrative type of business as my first. He also does no paid advertising. So all the work I get him is through SEO.
Typically I make about $400 to $500 a month with this client.
But again September 2016 proved to be an amazing month all around as this client also had his best month in the few years we have been working together.
His payment to me was:
$1,828.90
Very excited about this as I don’t think I’ve ever made more then $800 in a month with this client. In a way its likely that this was just a lucky month but when I have the time to actually work more on his stuff it should go up considerably and stay somewhat consistent.
Internet Marketing Client 3:
This client I just started working with and plan on repeating my methods from the first two clients to get them leads and get paid by performance. Again time is a big issue so I have barely even started with them and certainly have not done anything yet that is going to bring them leads.
So for client 3 this month I have a big FAT $0 dollars earned this month.
I just included them because I want you guys to see this from the start not just when I’m already making money.
When I finally quit my full time job in January of 2017, I will have the time to focus on this client and think within 3-6 months can get them enough leads to generate another $800 – $1,000 a month for my business.
My Internet Marketing Business Expenses
It is not only important to focus on how much you make but how much you keep.
Your Profit is your Net income. Which is your Gross – Expenses.
Lets take a look at my month for September 2016.
My Gross Income = $10,143.87
My Expenses = $841.00
My Net Income = $9,302.87
(click pic to enlarge)
With any business you are going to have expenses.
The great thing about an Internet Business is you can keep those expenses pretty low.
As you can see it was only a total of $841 for the whole month.
And really it could have been lower. The highest costs for me was work from freelancers I use. The “Rosie” cost of $200 (my second highest cost) is usually $100. As a reward for a good month I gave her $200 this month instead of $100.
Before you going thinking I’m a cheap skate the work the person does for me takes just a few hours so even a $100 a month is really good. LOL
The ‘Adwords consult’ was the highest at $400 but well worth it. This person completely manages my best clients Adwords account for me now and this is what by far makes my client and myself the most money.
Also this was the last month I pay $400 for that service. It will drop down to only $250 from now on. Now that the campaign has reached a certain level of success my consultant had reduced the hours he works on our Adwords campaign. So this expense will almost be cut in 1/2 starting in October of 2016.
Tax Benefits for an Internet Business
Now if you know a little bit about business your probably thinking it would be better to add more expenses to my business so I can write more off.
This is very true and why I will be seeing an accountant here very soon to help me figure all that out. The accounting and business side of things have been some of the most challenging to figure out.
I have setup a LLC but I am still not sure all the ways to take advantage of the tax breaks. When this was strictly a side business thats probably not to big of deal.
But now the transition is coming to quit my job and commit to my business full time so its time to figure this all out.
My head has been spinning with all the questions and confusion around taxes and having your own business. That is why in the future I will be posting full detailed posts about small business accounting and formation to best help your Internet business.
I will be paying professional small business accountants to fully consult me on my situation and posting a detailed report on it. Hopefully this can help you out in your Online Business as you get started.
Well there it is. My first time posting my Internet Business earnings online. It is nowhere near the millions that people dream of when exploring the Internet Lifestyle but it was my first 5 figure month so I’m pretty excited. In a few months as I transition into this full time and get more clients I hope that the income will steadily grow and you not only follow along but it inspires you to do the same!