A look back at 2017 as an entrepreneur. The big lessons I learned and how

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A Reflection of 2017, The Good, The Bad and The Ugly Including December Income Report

  • 30/01/2018

2017 was a rocky year for me while at the same time I learned a hell of a lot about myself, business and life in general.

I see 2017 as a success and a failure and it really is when I look back and think about what I could’ve achieved if I focused on one thing.

It’s like, come on! Why did I do that when I could have done this.  You analyze exactly what you did and you will know what went well and bad for specific reasons.

Best of 2017

 

The Year Overall

For me, it was a mediocre year, nothing really special.  I didn’t do anything different, my progression was slow, I consumed too many courses while not implementing them to their fullest, being caught up in the latest shiny object syndrome way too much that I felt as if I was going full circle every single week.

Luckily, I finally started to realize this towards the end of the year, yes, it took me quite a few months to finally realize what I was doing wrong and the direction I should have been taking was staring me straight in the face. I just refused to take the right path because I felt it was hard and it confused me.

Instead, I should have really just gone and done it, it was fear staring me in the face and I decided to take a step back. After taking action in January 2018 I have realized that in just a small period of time that you can make amazing progress if you just focus without getting confused or stressed.

It is truly an amazing feeling once you know the path you are supposed to take.

 

The Shiny Object Syndrome

When I talk about shiny object syndrome, I mean I went through it all this year.

It all started when I halted my Kindle business around March 2017 and I decided I was done with Kindle publishing and I would stop publishing books.

This was due to me being scared of getting my account banned by Amazon because of review swaps, Yes, I earned over $16,000 in royalties in 2017, not bad for no work. That small passive income stream was something I didn’t want to give up anytime soon.

Actually, I want that money for the rest of my life.

To carry on I would have had to learn how to build an audience and I had become tired and was just burnt out. I really didn’t feel like doing it, so I stopped.

I then took a month off and did nothing, I just wanted to relax, get away from it all, recharge my batteries. It had to be done.

I had fallen very far from my goal of $10,000 per month by February 2017, and I was the only person to blame. But I needed a rest from Kindle publishing and wanted to pursue something else.

 

Along came John Crestani and his course on affiliate marketing, his basic course Internet Jetset will give you all the knowledge you need to get set up and into a niche. He explains niche and keyword selection pretty well. however, some of the tactics in the course involve some backlink strategies I would be wary of.

I also feel it is not worth the $47 a month fee as the Facebook group at the time wasn’t the best and even some of most posts weren’t posted.

The upsell is called Super Affiliate System which John goes into a lot of depth on how to do paid affiliate marketing, coming from John who has made millions from paid advertising the course is super in depth and may overwhelm a newbie.

After that I went from course to course looking for something to fulfil me, it was like I was back in 2015 with no direction on where I wanted to go.

This is very dangerous as it will cost you a lot of money.

Learn from my mistakes and get focused on one thing.

 

Mindset and Understanding

As with the shiny object syndrome, I realized that at the end of the year my mindset was screwed up and I was at fault. I know now, I could have had so much more success than I did if I had just set down and focused on one thing and did that to the best of my ability. Instead, I tried one thing after another as I was looking for quick and instant success fix.

I was running in a hamster wheel, working hard when I didn’t have to.

The constant failure made me realize that I have to focus on the end goal instead of what I can get right now. This has allowed me to not only help myself but other people too as I will talk about in the next part.

 

Masterminding With Like Minded People

This has been the biggest thing to my own growth. Speaking with like-minded people and asking for their feedback will allow you to cement an idea more thoroughly but will also make you wiser.

I have a few people who I talk to on a regular basis that has helped me grow. I find that a course can only help you so much, it can give you the basic foundations, but having someone who has been there and done it, moving and growing alongside you is more powerful than ever, it gives you more clarity than you could ever imagine.

I have these people, not as a weekly mastermind group but people who I message and talk with on a regular basis.

Some are doing completely different businesses but we can look at each other business and help each other grow.

 

Businesses

My businesses have shrunk, what I mean by this is the revenues have decreased. And even though in my mind at the time I thought they would stay steady it showed they started to crumble little by little and for me, that meant less money.

Even though money is not everything, money is important to pay for things and keep living.

My focus was away from my main businesses, my blog and Kindle business and on other new projects so both of them shrank, I didn’t look to grow them and they were affected.

 

Education

I should really call 2017 the year of education for me. I learned so much in 2017 it was mind-blowing!

The problem with all of this is, I learned a hell of a lot but didn’t retain it all.

The best education I did get though, came in the form of focus on one thing and that thing alone, then you will have success. For me, I always felt I had to be busy if I wasn’t it meant I was missing out. While at the same time I now know this is wrong.

Some days we will have less work because we’re waiting on projects to be completed. On these days I would become anxious and felt compelled to do something, I still get that feeling to this day.

The future business I want to pursue after Kindle is paid advertising, I now have a full understanding of how to make it work.  I know what it takes to create a profitable campaign. Unluckily for me, I ran out of funds before I could make it profitable later in the year.

I don’t mean that I was losing money, I was breaking even, so it was just about a few small tweaks, but in paid advertising, you need 2 weeks worth of advertising budget as the affiliate companies keep that money for that period before they send it to you.

So I was just off creating a great campaign.

Once I get my Kindle publishing business to a good level I will go back into it because that was something I truly enjoyed.

 

Overcoming Work Anxiety

Work anxiety is real and I felt it big in 2017, I still have the feeling a bit now. I always feel that if I’m not working during the day I’m being unproductive.

This all changed when I introduced checklists and planned my day more proficiently.

Even though the anxiety is still there I now know that I can look at my list and simply not have to think. It makes things ten times easier and I get more work done as I am not second guessing myself and what I have to complete.

 

The December Income Report

The one thing I will say before I delve into this is December is always a chill kind of month. I always do a lot less work than I should.

And with December I was trying to work out the direction I was moving in and that came in the form of good old Kindle publishing.

I knew that I had been jumping around way too much, I had some crazy knowledge on how to do everything the right way now including gaining reviews which aren’t swapped by VA’s.

I had done so much learning but unfortunately didn’t apply it.  2018 I will be applying all that deep knowledge.

Lucky for me, a lot of that education I had written down and was stored on Evernote.

I will only need to take a quick look at it and I will golden and ready to go.

I even created a Kindle Checklist of every step I needed to take to get a book ready.

This checklist is serving me right and keeping my mind from wandering off.

Amazon Kindle Business

This is one of the most frustrating parts of documenting everything, and the time I have invested into it I would have expected to have been in a much better position than I am right now, but I really did set up the fundamentals incorrect which caused this crash.

It makes me cry to the point I was looking for an instant solution to my problems when really it was the basics that I was ignoring which caused my eventual downfall.

Even though my income has stayed steady at a few hundred dollars a month over the last few months I just wish it was more. But we all know wishing will get you nowhere.

So here is the stuff you’ve all been waiting for

 

Here is a breakdown of how much I made

Kindle Paid Royalties: $191.98 (Includes US, UK & Euro Royalties) (Increase +$70.03)

Kindle Unlimited Royalties: $19.17 (4’079 pages read x $0.0047 per page) (Decrease -$3.03)

Create Space Royalties: $527.05 (Includes US, UK & Euro Royalties) (Increase +$136.66)

ACX Audible Royalties: $117.02 + $75 Bounty = $192.02 = (November Royalties) (Increase +$32.02)

AMAZON KINDLE ROYALTY TOTAL: $930.22 (Increase +$235.68)

 

EXPENSES

Out Sourcing Fees: $0

Book Writing: $0

PLR Materials: $0

Software: $34

Marketing: $$135.24

AMAZON KINDLE EXPENSES TOTAL = $169.24 (Increase +$62.75)

 

Total Profit from Kindle publishing $760.98 (Increase +$172.93)

 

Kindle Sales

kdp-royalties-kindle-publishing-december-2017

 

Kindle Unlimited Pages Read

kindle-unlimited-pages-read-december-2017

 

Kindle Royalties

kindle-royalties-earned-december-2017

 

Create Space Royalties

create-space-royalties-december-2017

 

ACX Royalties

 

I wasn’t expecting an increase but I should have with it being December. December is Christmas month and people will buy buy buy and I’m more than happy to give give give.

This helped increase my royalties and overall made me more money.

I did nothing to the business so this again is passive income that I am doing absolutely nothing for which I like quite a lot. But I know I can’t rely on this, I have to start creating more books so that I can increase my income.

Overall I am still not happy as I’m well below what I feel I should be earning but I know that this year I will be coming back with a bang.

If you’re interested in learning about Kindle Publishing there is a link below to the course which taught me how to publish.

I have a lot of nuggets of information and I know that knowledge will prove useful to you too, so what I am doing is giving away 30 minutes free mentoring (Worth $100) when you go through my link.

Click on one of the links below to get started.

LucaMethod.com (Life time access)

LucaMethodMonthly.com (Monthly payments)

 

make money blogging

 

Passive Income: Affiliate Commissions

This month was a bit of a disappointment but it is what it is. I am still lacking the traffic that I need and will be increased this year. It is one of my ultimate goals to get to 10,000 readers a month.

With December and January focused on my Kindle businesses this will be something which will take a slight back foot.

But it still keeps amazing me that month in month out that I earn income from my blog. Even though it is only a couple of hundred dollars it’s money that I would have never had if I didn’t start it.

However, it is little steps towards the big goal that will get you to where you want to be.

You do however need some guidance when starting and I believe knowing the right thing is the best way to progress. When I started I took Earnest Affiliate which now has an updated version called Income Boss.

Visit JohnnyMethod.com (My affiliate link but also get 30 minutes free mentoring with me)

This course will take you through how to get started with your own blog and gain success in the process.

 

Here it is:

JVZOO: $211.25 (Decrease -$404.05)

Click Bank: $181.22 (Increase +$90.61)

Amazon Associates: $0 (Decrease -$5.60)

Site Ground (Web Hosting) : $0

Total affiliate commissions income: $402.47 (Decrease -$309.44)

 

Freelance Writing

In December my focus was on rebuilding my E com business and my Kindle business so this business has gone to the wayside a little bit.

That doesn’t stop the fact the same company came back to me and asked for another article.

Writing this piece was a lot easier and only took 3 hours to do from research, writing and checking.

For now, this business is on hold as I don’t want my focus to be elsewhere. If however clients do come it will be a good injection of capital back into my business.

 

Income

Article Writing = $200

 

Expenses

Sourcing clients: $0

Total Writing income: $200 (Increase +$290)

 

Courses

If your interested in any of the product mentioned in this post check them out below

Start your own blog today = Income Boss

Start your own Kindle business = Self Publishing Revolution

All are helping me with my passive income journey.

 

It’s truly amazing what you can do in a time period when you set your mind to it.

 

Other Expenses

Hide My Ass = $9.99

skype = $0

Get Response = $49

Hosting = $80

Education – $664

Google – $4.99

Software – $20

Outsourcing – $94.94

Domain Names: $15.85

Fresh Books = $30

Donation to Wor. Watthana = $15

TOTAL = $983.77 (Decrease -$242.39)

 

INCOME VS EXPENSES

Total Passive Income: $1532.69

Total Expenses: $1153.01

GRAND TOTAL PASSIVE INCOME PROFITS: $379.68 (Increase +$435.88)

 

Overall Thoughts and Grand Total Passive Income

December was another slow month, as I didn’t do much work I didn’t expect much back. Even with my passive income increased for my books due to being the Christmas month, I still, however, wish it was back up to thousands instead of hundreds.

Wishing can only get me so far, taking action is where it is at. Little action had been taken on the current business which resulted in similar results.

Now it makes me think that my previous actions weren’t good enough as what is happening now is a result of those actions.

I know things will improve, I will bounce back and this time I’ve got a big target and the simple plan to get there.

I know that it will only take one action that will change everything.

Even though I have my own feeling about this I am still positive, I am more determined than ever to show that I can dominate the Kindle space.

 

Thank you for following my journey and I hope you enjoyed this post

 

If you did enjoy this post and would like to know more, have a question or just say hi, please leave a comment below.

Warm Regards

Michael

 

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