Q1 2016 is in The Books!
Wow, I can hardly believe that we’re a quarter of the way through 2016. I feel way behind! But I have a lot in the works that I hope will help me turn the corner on achieving my 2016 goals. Without further ado, here’s my March progress update.
Here’s the snapshot of my goals and how March stacked up.
Let me break it down…
Revenue in March was all from sales made on Amazon’s platform. I did better in March but as you’ll see, I chewed up most of the gain by spending on advertising.
There are some new income streams in the works and I’m hoping I get to report on that in the April update.
March Affiliate Income
March brought $124.80 in affiliate income. That’s down from the prior month, but still better than a typical month in 2015. So overall I’m happy.
Remember, I’m reporting the actual income deposited to my business accounts, not the amount I earned in a given month. Affiliate payments never come in the same month in which they are earned.
As I’ve said in earlier progress updates, this is an income stream I’m working hard to build. I’m a long way off from my goal of $2,400 for the year, but I still have hope!
The affiliate income I’m reporting here comes from my websites:
March Advertising Spend
The March invoice for February advertising was $349.69. O.U.C.H!
Yesterday I tackled this demon. I scrapped the advertising campaigns I had set up on Amazon and created new ones. Sadly, the “spend” doesn’t seem to be improving, but I have seen some sales already that I know are attributed to the change.
I still have a lot to learn about advertising and it’s costing me for the lessons!
March Owner’s Draw
I still haven’t taken an owner’s draw and don’t expect to for most of this year. I don’t want to cannibalize the business resources and risk crippling my ability to grow.
March shows improved numbers. That along with the progress on Niche Site 1 is keeping me optimistic. I’ve been distracted on some legal aspects of running my business, which I’ll share with you at some point because I think it may be a useful story for you.
Other than that, I need to send in a Cozy shipment, keep tweaking my advertising campaigns and work like my butt’s on fire to get Niche Site 1 launched! Wish me luck 🙂
Call to Action
How did the first quarter go for you? Please give us an update in the Comments or shoot me an email. I love hearing from you!
Now back to work for me!
Want to follow along on my journey?
This content was first published on PrivateLabelPreneur.com and is copyrighted as such.
Permission to reprint is required and must attribute the material to PrivateLabelPreneur.com.