Passive Money Progress

iPhone Apps as a source of passive income

admin — Mon, 30 May 2011 18:23:08 +0000

Last week I released my first iOS/iPhone app as a source of passive income. Since this is my first app I am using it to see how well this can work and if it is worth the time to create apps. When thinking about the apps I want to create most of them are 1 or 2 screens and very simple. Since I can code them I try to limit them to 1 day of creation and another day or debugging and testing with real users. If I were to build these apps for a client I would charge between 500.00 – 1000.00 dollars. So the app has to at least make this much for me to consider this a success. If the app gets some traction then I will look at enhancing the app or making a plus version that I can sell and remove the ads from it.

Here is where the app is right now.

Total downloads 484 (since May 26 2011)
Total add revenue 4.65 or about 1.00 a day.

So we have some work to do. However I have added another stream of income and if I do nothing else with app in 2 years I will break even on the app.

I am excited to see where this goes once people get back to work. There are also some enhancements that I want to make to help the app spread virally.

Progress Report For April 2011

admin — Tue, 17 May 2011 21:19:51 +0000

This is the last month that I have to catch up on. So far the trend is up every month. This is great! Lets see what April’s earnings look like.

Income Break Down

Google Adsense Income: $20.76
eBay Partner Network: $127.25

Grand Total: $148.01

Boo! This month I made $51.69 less then March. The month started out really strong but then something happened. Maybe the high price of gas is cutting into people’s spending habits. I think it is also time for me to build more sites, as I have not done any since Dec.

Progress Report for March 2011

admin — Tue, 17 May 2011 21:14:07 +0000

Still Catching up to May 2011.

Income Break Down

Google Adsense Income: $27.39
eBay Partner Network: $172.30

Grand Total: $199.69

Wow the trend is good, UP UP UP. Another record breaking month. This month I earned $78.55 more than last month. Looking at the data from eBay there is one day where my earnings was 25.00. If I could net that ever day things would be really nice.

Progress Report for Feb 2011

admin — Tue, 17 May 2011 21:06:38 +0000

This is earning report is way over due as well. Catching up to May.

Income Break Down

Google Adsense Income: $25.19
eBay Partner Network: $95.95

Grand Total: $121.14

Awesome. I earned $29.68 more this month than Jan 2011. This is the first month (since I have been tracking things) that I broke the $100.00 barrier. The eBay income was nice this month. Again no corrective action since I am doing the earnings report too late. Lets hope this upward trend continues.

Progress for Jan 2011

admin — Tue, 17 May 2011 20:59:19 +0000

I know this post is waaaaay late. I finally have a breather so I will go back and do all the earnings reports for 2011 Jan – April.

Income Break Down

Google Adsense Income: $29.54
eBay Partner Network: $61.92

Grand Total: $91.46

This was not as good as Dec 2010. In fact I earned $5.46 less. Since I am writing this in May of 2011 I really can’t take any corrective action but lets see how next month looks.

Progress Report for December 2010

admin — Mon, 03 Jan 2011 19:04:38 +0000

Here is my first in what I hope will be a monthly report of my progress and where I am at with my passive income. This month will serve as a baseline measurement for all other measurements and reports. For some this will not be that impressive but I have done nothing with these sources of income and they just sit out there an run by themselves. Part of reporting the income will help motivate myself.

Income Break Down

Google Adsense Income: $25.07
eBay Partner Network: $71.88

Grand Total: $96.95

This isn’t too bad, but I know I can do better! My goal for January is to double this, so I now have a target goal of $193.90 of passive income for the month. To accomplish this goal I plan to put some effort into link building and maybe setup 1 niche site a week. I also need to start exploring more income resources.

Time to get busy for 2011 !

It’s All About Link Building.

admin — Fri, 31 Dec 2010 18:00:52 +0000

Today I was in a meeting all day with some partners working on a new venture. This site we are working on will sell Auto Parts online. We spent many months putting the product catalog together and soft launched the site last month. The site has a lot of lot of competition from some other sites but we feel we can make a go of it. As we were reviewing the site today and trying to increase traffic, I came to the conclusion that it is all about the links. So my tip for you today is that once you get your site online and you are ready to receive traffic then it is time to build links. There are lots of interesting place to build links on. I don’t think that any of these are magic bullets and I don’t think you should automate this. One these sites you should want to create quality and relevant so that your content is approved and it is not identified as spam. The other thing that you want to avoid is to post the same content to multiple places. I have a short list of the types of sites that I think are worth linking from, at least in the beginning.

Blogs This is a pretty easy place to get a link from. Doing a search for your topic or keyword and then making a relevant comment with a link to your site is an easy to do thing. This does take time as you should craft your content to be relevant to the post you are commenting on.

Forums There are forums on almost any topic that you can come up with these days. Again you start with a search for your keyword and the word “forum”. This will get you some results where you can make posts. Perhaps you can include a link in your signature or create a link to the site in the post itself. Again write relevant good content and you should not have a problem. If you are too spammy your post may be removed by the moderator.

What I Did Today

Installed Broken Link Checker plugin.
Installed Easy Privacy Policy plugin.
Installed Yet Another Related Post plugin.

Passive Income Defenitions

admin — Wed, 29 Dec 2010 02:29:28 +0000

Passive income in the most simplest sense is money earned while you are not actively doing something. Typically the way that most people earn money is by trading time for money. When you work a nine to five job you are trading those 8 hours for money paid to you by your boss, or company. So to level the field I thought I would use this post to define some terms that will be used quite a bit.

J.O.B is the activity that you trade your time for money. You may have too much to do or not enough to do however you are expected to do this activity for the allotted amount of time. Most people will do thier job till they decided to retire usually at the age of 65 to 70 years of age.I am trying to eliminate one of my J.O.Bs.

Passive is defined as the opposite of active. This is something that happens when you are not actively doing something. The ultimate goal for me is to earn income passively or “while I sleep”

Income this is the money that one earns. Any money that comes in and does not go out is income. This could be interest from a bank account, the money earned from an investment or income from affiliate marketing.

Progress this is the status of an action since it was last evaluated. I plan to report my progress monthly. Progress will be anything from working on this blog to reporting monthly income from my various projects/experiments.

Passive Income the definition of this term is a little tricky. Taken literally this would be income that is earned while you didn’t do anything. While this is the eventual goal this takes a lot of up front work. You may spend 40 hours working on a project to get it to a point where it could generate income, but not actually earn any income from it. It isn’t until it is unleashed on the world that you derive income from it. It this point you may work on another project or go on vacation. Those who create another stream of income via another project will be better off in the long run.

What I did today (the progress part )

Installed an SEO Plugin from YOAST testing this one out
Enable Google Webmaster Tools, and Yahoo Site explorer with the help of the Yoast SEO Plugin Tool
Installed Google Analytics Plugin and hooked it up.
Wrote this post!

A New Year a New Blog

admin — Tue, 28 Dec 2010 05:06:40 +0000

While the new year is a couple of days away I thought I would get started a little early on my new years resolution by starting this blog. Earning money passively or “on the side” has been something I have been trying to do for the last two years. I have experimented with various ways from the traditional ways to the more modern ways like affiliate marketing. I am starting this blog to help me track what I am doing and to maybe encourage myself a little. I hope that if by writing it down that I will take action on earning a passive income everyday. Using passive income I hope to replace 1 of my three jobs that I am currently working.

During the next year I hope to experiment more with passive money ideas and document what I am doing as well as reporting the results (progress), hence the name of this blog . If I get a couple of users along the way all the better. Maybe I can help some other people out and maybe we all can learn something along the way.

So lets get started shall we?

My Short Term Plan

Work on the blog for 1 hour a day (not very passive is it?)
Report on the blog the actions that I took that day
Report monthly the income that is earned passively

What I did today:

Registered the domain name
Setup hosting on a co-located server I already have.
Setup a basic wordpress install
Wrote this post!