August 2012 Status Report (Week 16)

Hi there! I'm still on vacation, but I wanted to give you the August status anyway.

Freckle says I've spent 63 hours on my passive income project in August. That is almost as much as in previous month, even though I've worked only couple of hours during the last 2 weeks.

Passive Income In August 2012:
$25

Income is mostly coming from affiliate sales and AdFly.

This was a happy surprise to me, since my last month's income included a $10 donation. I was also expecting my vacation to show a bit, but it looks like this income really is passive.

Granted, I messed up and accidentally had my own affiliate cookie on when I bought new products for trying them out. I did report that, but they said I can just keep those pennies.

Costs In August 2012:
-$227

Costs include the monthly payment to Getting Rich With eBooks 3.0 and SiteBuildIt!

It also includes $100 worth of products that I wanted to test. As said, I messed up with the purchase. I had my own affiliate cookie on. Even though I got to keep the money, I saw that the payment for those products was much lower than the main product. I also did not check the tax limit and ended up paying some taxes, which made the products even more expensive.

I could have easily avoided this cost, but I wanted to try out those products.


Downsides

Even though my passive income grew again, I also saw the dark side of the project this month.

My SBI site have been up for over a month already and I've not yet earned a penny from it. That was expected as the monetization is not plugged in yet. I've written a handful of nice articles that I'm proud of, but I'm impatient right now. I'd like to monetize, but the next thing to do will be to start getting some backlinks to my site. I hate the tortoise speed of SBI!

I bought $100 worth of products, but I did not like them enough to recommend them. That was really sad, since the main product is excellent. Another downside is that the experience on these products varies from person to person. They were not suitable for me, but someone might still like them a lot. However, as things are, I cannot recommend them myself. So I practically just lost the money to try them out. I could get some of it back though.

I've also got some negative feedback on my project. I've got it from my friends and relatives offline and online, by getting banned. I'll be telling you more about that later. 


Conclusion

Even though I've seen some drawbacks this months, they have all been mental. I'm glad to see that my passive income is still going up.

I've have great fun with my project and I'm not going to stop just because there have been some obstacles in the road.

I'll continue enjoying my vacation about two weeks or so. But after that I'll be back in business!