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I have a lot of respect for John Chow. I’ve met him a couple of times and I read his blog (like a lot of folks). One of the things he does is post monthly income reports of how much money he makes on his blog.
Now, I’m not a guy who thinks that kind of thing is really necessary. Personally, I find it to be a little like flashing a wad of hundreds in the face of starving kids. I mean, we get it. You make good cash. Flaunting it seems like little more than an ego boost for John. It does, of course, give him credibility and I’m sure that’s why he does it.
I do not make as much money as John Chow. Nor do I give a shit. I’m not going to parade a breakdown of every little source of income because, to be blunt, it isn’t supposed to be broad public knowledge. However, what I will do is give a few months of income, and then I’ll give you a list of my primary income streams.
So, here is a total of gross income for the last 3 complete calendar months:
July 2008: $9,761.42
August 2008: $11,553.89
September 2008: $8,794.92
October isn’t over yet, obviously. Mind you, as it bears repeating, this is GROSS income. Out of this comes all business bills, including paying Rich. Then, what’s left goes to my personal bank accounts where I pay personal bills (which are fairly substantial right now). All in all, I’m living a comfortable life, however those figures might lead to the conclusion that I’m sitting here on a pile of cash. I’m not. Most of what I make ends up going right back out again. That’s just reality.
Perhaps I could live cheaper if I ditched my house, insurance for the family, my car, etc. But, I don’t plan on it. I work so I can enjoy my life, not hang my paper towels out to dry.
Now, my income primarily comes from the following programs right now (in order):
- Banner Advertising (using Google Adsense, Adify, Tribal Fusion, primarily)
- Premium membership revenue from PCMech.com
- Affiliate commissions (primarily Clickbank)
- Product sales in the PCMech Store
The most important lesson is the obvious one: Have more than one income source. I diversify where my income comes from as much as possible. And, I am making a definite effort to increase the revenue coming from my membership program. It is working and I expect that program to grow nicely over the coming months. My intention, aside from making more money, is also to become less dependent on advertising. This makes my business more self-sufficient.
So, there you have it. At least now you know that when I call myself a six figure blogger, I’m not messing around.
And if you work for the IRS, stop reading my blog. Bitch. 😉