{"id":3617,"date":"2016-02-29T11:56:58","date_gmt":"2016-02-29T10:56:58","guid":{"rendered":"https:\/\/www.danielebesana.com\/blog\/?p=3617"},"modified":"2016-03-02T05:39:23","modified_gmt":"2016-03-02T04:39:23","slug":"online-income-report-january-2016","status":"publish","type":"post","link":"https:\/\/danielebesana.com\/blog\/online-income-report\/online-income-report-january-2016","title":{"rendered":"Online Income Report – January 2016"},"content":{"rendered":"

Greetings from Ubud<\/strong> where I’m writing this report from\u00a0with a spectacular delay:\u00a0<\/strong>it’s the last day of February, and luckily 2016 is a leap year!<\/p>\n

I’ll be the whole month here in Bali, Indonesia, before moving north to Malaysia and possibly Vietnam… such is the life of a location independent entrepreneur!<\/p>\n

But this report is about January, a month I spent in Amsterdam, with the exception of a week in Ireland<\/a>.<\/p>\n

 <\/p>\n

What’s Going On<\/h2>\n

Focus and Execute: 2016 edition<\/h3>\n

Last year in May<\/a> I took the decision to focus on less projects and activities.<\/p>\n

I clearly indicated three big changes:<\/p>\n

    \n
  1. Reducing\u00a0client work<\/strong>. WordPress consultancies are quite rewarding but I\u2019m just selling my time to other people projects and aren\u2019t adding value to my entrepreneurial journey. I\u2019ve been working for customers all my life and I know I can be good servicing them. This means I\u2019m increasing my consultancy rates and only take on board\u00a0the best opportunities.<\/li>\n
  2. Focus on two projects<\/strong>. I decided to focus on two websites I believe can grow in the next months: QuadHangar (review website about drones) and RouterFreak (blog for IT network engineers).<\/li>\n
  3. Eliminate what I\u2019m no more interested<\/strong>. This means maybe sacrificing some little income to free my time and mental space.<\/li>\n<\/ol>\n

    As often happens, things turned out a bit different than expected \ud83d\ude42<\/p>\n

    In fact, right after this decision I launched my WordPress maintenance &\u00a0support service WP-OK<\/a>\u00a0and it’s now taking 50% of my time<\/strong>.<\/p>\n

    This is drastically reducing the time and energy I can spend working on my websites. In other words,\u00a0it’s lack of focus all over again<\/strong>.<\/p>\n

    It’s time to re-evaluate what I’m busy with and\u00a0re-focus my efforts.<\/p>\n

    As an exercise, in the table below I analyze the websites\/projects I run:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n
    PROJECT<\/strong><\/td>\nTIME REQUIRED?<\/strong><\/td>\nAVG. REVENUE<\/strong><\/td>\n$ PER HOUR<\/b><\/td>\nIDEAL REVENUE<\/strong><\/td>\nSELLABLE?<\/strong><\/td>\nOUTSOURCEABLE?<\/strong><\/td>\n<\/tr>\n
    RouterFreak<\/td>\n20 hours\/month<\/td>\n$1000<\/td>\n$50<\/td>\n$2000<\/td>\nYes<\/td>\nYes<\/td>\n<\/tr>\n
    ComoHacer<\/td>\n1 hour\/month<\/td>\n$250<\/td>\n$250<\/td>\n=<\/td>\nYes<\/td>\nNot needed<\/td>\n<\/tr>\n
    ComeCostruire<\/td>\n1 hour\/month<\/td>\n$50<\/td>\n$50<\/td>\n$100<\/td>\nYes<\/td>\nNot needed<\/td>\n<\/tr>\n
    VivereAmsterdam<\/td>\n1 hour\/month<\/td>\n$100<\/td>\n$100<\/td>\n=<\/td>\nNo<\/td>\nYes<\/td>\n<\/tr>\n
    AidBoard<\/td>\n4 hours\/month<\/td>\n0<\/td>\n0<\/td>\n?<\/td>\nYes<\/td>\nNo, need a biz model<\/td>\n<\/tr>\n
    FreeWPtube<\/td>\n8 hour\/month<\/td>\n$200<\/td>\n$25<\/td>\n$500<\/td>\nYes<\/td>\nYes<\/td>\n<\/tr>\n
    WP-OK<\/td>\n30 hours\/month<\/td>\n$1200<\/td>\n$40<\/td>\n$3000<\/td>\nNo<\/td>\nYes<\/td>\n<\/tr>\n
    QuadHangar<\/td>\n4 hours\/month<\/td>\n$400<\/td>\n$100<\/td>\n$1200<\/td>\nYes<\/td>\nYes<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    Notes:<\/p>\n

      \n
    1. Average revenue<\/strong> is an indication based on the last months. Revenue doesn’t take into consideration expenses.<\/li>\n
    2. Ideal revenue<\/strong>\u00a0is an estimation based on potential, past results or forecast. To get there there’s work required.<\/li>\n
    3. Outsourceable<\/strong>\u00a0indicates if I can get more help on it, being outsourcing some tasks or bringing in a partner.<\/li>\n<\/ol>\n

      The table above, even if the numbers are not 100% accurate, is veeeeery interesting and eyes opening!<\/p>\n

      Basically the most rewarding projects I have are the ones I run passively \ud83d\ude42<\/p>\n

      Based on what I’m seeing, I’m seriously considering getting rid of AidBoard. It has been a lovely ride, and in the good days it provided $250-300\/month between paid listings and advertising, but I haven’t received an order in months.<\/p>\n

      The problem is that it’s hard to sell a website that doesn’t generate a penny (actually, the balance is negative because I’m paying hosting and mailing list services).<\/p>\n

      Thinking on what to do…<\/p>\n

       <\/p>\n

      WP-OK: the ‘emerging’ customers!<\/h3>\n

      After some considerations and the definitive comments from Sra Ape<\/strong> and Bella Vita<\/strong>, I decided to include in this report also the earnings coming from my freelance customers (clients I did some WordPress related consultancy) that subscribed to the maintenance & support service<\/strong>.<\/p>\n

      It’s 100% remote work, so should be part of the online income!<\/p>\n

      <\/h3>\n

      The Numbers<\/h2>\n

      Income Breakdown<\/h3>\n

      Let’s get down with the numbers!<\/p>\n