Every month, I publish a report of the business & investment income I received during the previous month. I publish these reports to show you what you can expect with an online business & unconventional investments, and I also publish them to keep the motivation to work hard & to grow this number month after month.
In every report, you will find out the details about all the business income I received during the month, all the business expenses, and also all the income I received from investments during the month.
What Happened in October
In October, I actually had to take time to change my current business structure. Indeed, after closing down my Hong Kong business, I still had a self-employed status in France, which was very limiting for my business (for example, having to pay taxes on the revenue and not on the profits). Therefore, I decided to set up a new business in Poland, where I am currently living.
Even if it will be great for the future, the whole process was a nightmare – especially because people at several offices I had to visit didn’t speak English at all, and even with the help of my girlfriend who speaks Polish (thanks so much, Sylwia!) we often ended up completely confused and frustrated. It’s now all done, but I also a lot of time and energy in the process.
As usual, I didn’t let problems stop me, and I worked even harder to achieve my goals for the month. My main achievement during this month was to launch a new video course focused on the aREST framework, which is a suite of software tools that I created to easily created electronics projects, for example in the Internet of Things field. It was a real success, with more than $1000 generated on the first day of opening the course. You can learn more about this course here.
A huge news this month was also the publication an episode of the Smart Passive Income podcast in which I came as a guest. That’s basically the podcast that made me start my online business a few years back, so it was just amazing to be a part of it. Thanks again Pat, and if you want to listen to the episode just click here.
I also continued to work on the PureApps project, where my goal is to propose free, open-source applications for online businesses. I worked on an app called PureCart, which is a online cart solution that can be used to easily sell digital products. I am currently used it for my own business, and I hope to be able to release it soon so everyone can use it. If you are interested in learning more, you can simply check the website of the project.
I also finished teaching my course about investing in profitable websites. I recently added a lot of case studies to the course, that will basically show you live how I analyse website deals & decided to make an offer or not. If you are interested by making money work hard for you by buying already exiting websites, I invite you to check the details of the course here.
On the investing side, I continued to inject fresh money in new REITs (Real Estate Investment Trusts), mainly in Europe in the retail & office fields. I therefore got closer to my goal of having 87,500 Euros invested in REITs & real estate before the end of the year.
Below is all the income I received from my online business during the past month:
- Amazon Kindle eBooks: 914 €
- eBooks & video courses: 2332 €
- Books royalties: 736 €
Gross business income in October 2016: 3982 € (-14%)
Below is all the business related expenses I had during the past month:
- Team expenses on UpWork: 96 €
- Hosting: 86 €
- Facebook Ads: 68 €
Business expenses in October 2016: 250 € (-26%)
Net business income in October 2016: 3675 € (-13%)
Below is all the income I received from investments during the past month. For some investments, this is the expected monthly revenue as some investments only pay once a quarter or once a year:
- Dividend growth stocks: 405 €
- Peer-to-Peer lending: 475 €
- Real estate: 137 €
- Bitcoin investments: 133 €
- Amazon affiliate websites: 1482 €
Investment income in October 2016: 2655 € (+2%)
Comment About the Report
Let’s now make the total and add my business & investment revenues:
Total income for October 2016: 6387 € (-7%)
Again, I had a quite ‘bad’ month in the sense that I lost a lot of time for things that didn’t help in any way, but it had to be done and I managed however to maintain a stable level of income at the end (especially thanks to the good performances of my investments).
During the coming month, I will continue to focus my efforts on the marketing side of my business. I also want to free up more time by delegating more tasks for my team. For example, I recently set up a help desk solution so my virtual assistant can now go in there and handle most of the emails that are sent to me.
I continued to ramp up the use of Facebook Ads for my business, learning a ton in the process. It’s still too early to actually tell how much it will help for my sales, but I will of course report about it whenever I have some results to show.
As usual, I also updated my investment portfolio page to reflect the changes during the month. What about you? Did you have a good month with your online business and/or your investments?