3 Month Progress & Income Report 2013

My poor little blog has been neglected in recent months, but I want to set that straight now with a look at my last three month’s goings-on. Here’s what I’ve been up to.

September

Product (Bike Track Days Hub)

With the product well and truly out there, all that was left to do was continue to tweak the conversion funnel that gets people there.

Something that I was making semi-regular changes to, without any massive breakthroughs worth mentioning.

Membership Course (Bike Track Days Hub)

The next step was already in the pipeline before I’d even released my product, and that was to create some sort of recurring income.

Ebooks are a great way to start making money from a site, but I was never going to build financial and occupational freedom on one ebook.

Not in my niche anyway!

So, at the start of September I started making plans for a membership site which would be a sort of ‘premium area’ where readers would get more information about motorcycle track days than they did from the free information I was already providing.

I quickly set about planning and mapping out exactly what I was going to include, and after I had finalised all the content sections I immediately started writing content.

As I got stuck right in, however I started to feel a little uneasy.

To cover everything there is to cover about track days is a big big task, and I also had this niggling feeling that if I tried to create something that was all things to all people, how difficult would it be to sell to people?

After some conferring with my new friend Ian McConnell (over at In My Home Office) I decided to scrap my plans and work on what people wanted, which was learning how to ride a motorcycle fast, and safe.

Business Income

From an income perspective I had much the same as I’d had the previous month. Here’s a mini breakdown.

BTDH Revenue:

Affiliate Income – $223.34 (+$63)

eBook Sales – $177.86 (-$124.14)

BTDH Total – $401.24 (-$61)

Clothing Niche Site

Affiliate Revenue: $118.85 (-$9)

Total Business Revenue - $520.10 (-$69.40)

October

Knowing the rough direction I wanted to take, I set about planning out how exactly I was going to implement such a course and exactly what I was going to include.

Once again I  moved ahead with the planning of the membership course.

With track days, the very best way to learn how to ride fast is to get private coaching.

Just as with any physical activity, getting coaching from someone who knows the ins and outs of said activity is going to yield much greater results than reading text.

With this in mind I knew I couldn’t do a better job that proper coaching (a popular method for learning in my niche) but I knew I could be the next best thing.

Coaching is very expensive, and to cover everything around riding fast would mount up to thousands in coaching fees. The logistical limits can play a part too, so I know coaching isn’t going to be for everyone.

The only other avenue for improvement is books, but with no clear information on how to implement what you’re learning, it can be very difficult to improve just by reading a book and going out and trying things to see if they work.

I’m not just creating this course to make money, I truly want to get people become faster and safer track riders.

I would look to fuse the typical literature approach, but feed it to people in a very specific way – in weekly, bite-sized chunks with instructions on how to implement it.

The general premise being that a rider would work through each lesson in sequence, by the end of which they would have reached a decent level if they follow it properly.

With that, pretty much all of my work time in October went on the planning of the course.

My income streams were still trickling in however (and going up) and this is what it netted me.

Business Income

BTDH Revenue:

Affiliate Income – $161.37 (+$61.97)

eBook Sales – $321.3 (+$143.44)

BTDH Total – $482.27 (+$81.03)

Clothing Niche Site

Affiliate Revenue: $143.25 (+$24.40)

Total Business Revenue - $625.52 (+$105.42)

November

My planning continued into November and my final idea was starting to come into focus, then I hit what I thought was a little snag.

I had been talking to Ian about my plans when he asked the question “Do people actually want what you’re putting together? Have you asked them?”.

My heart sank when I realised I’d fallen into the trap of assuming that everyone wants what I’m putting together.

The answers to his questions were quite obviously, no.

I then started thinking how everyone would hate the idea and I’d be back to square one, but without asking I would never know.

I contacted only those who had purchased my ebook, essentially putting to them exactly what I was planning, and asking if they would be interested.

I was pleasantly surprised by the responses.

Of the 32% of people that replied (I’m told that’s a great response rate) everyone was interested.

Some had doubts, some had reservations about the price, where as others were very excited about the idea.

One the whole though, it was a very positive response and I got some great feedback and ideas about how to proceed as well……which is nice!

After taking my findings to Ian he advised me to move on the idea, and quick!

Once again the planning, along with corresponding with readers, brought me to the end of November (I can drag my heels with planning phases, as you can probably guess).

And again, my income continued to sit in a similar area.

Business Income

BTDH Revenue:

Affiliate Income – $216.86 (+$55.50)

eBook Sales – $216 (-$105.3)

BTDH Total – $432.86 (-$50.11)

Clothing Niche Site

Affiliate Revenue: $75.88 (-$67.37)

Total Business Revenue - $508.76 (-$116.76)

Summary

I can admit that I haven’t actually got a massive amount done in the way of written work in the last three months, but what I have got is clear direction and a target to aim for.

Get the doors open!

I know what people want and I’m going to do my very best to give it to them.

What I’m creating doesn’t exist today, so if I pull it off it could be a real hit and get me a massive step closer (maybe even the final step) to getting myself out of my job so I can do this stuff full time.

With that, I hope anyone reading this has an amazing end to their year, and with it a great Christmas and New Year.

All the best to every one of you.

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