Month 1 Earnings
Thursday January 24th 2007, 10:00 am
For those of you that have been reading this blog since it started you'll know that I resigned on the 20th December with the aim of earning a million dollars within 12 months. Last week I considered spending the year freelancing instead, I have some great clients, made over double my normal monthly salary and worked on some projects I'm really proud of. I've come to my senses now, and as a way of keeping myself on track each month I will report my monthly earnings.
It's difficult for me to break them down too much as I have people that contribute for free on the sites I currently have live, so I've broken them down to freelancing and websites for now. When the sites make more money I'll be able to pay the contributors and will show the broken down figures for each site.
These are the figures for December 20th - January 20th
Freelancing: $18,000
Websites: $1,490
Month 1 Total: $19,490
I created a full business plan in December which included the projected earnings per month, the first month was $20,000 so if you look at the figures then you could be fooled into thinking I was on target. Sadly this isn't the case. I spent at least 12 hours a day for the whole month freelancing instead of updating blogs and launching new sites. If I continue to work like this I know that creatively I will burn myself out and my monthly earnings will always be around the same. To stay on target next month I need to earn $30,000.
I've considered outsourcing some of the freelance work but I only know two other freelance flash animators that I'd trust to pass on work from high end clients. I'm also a complete control freak and would probably be so stressed about how much they had done each day I wouldn't be able to work anyway. Another option was to find designers and developers to work on the new sites I want to launch, this is looking more favorable as it means I will still have a monthly income from freelancing.
In February I need to launch 5 new websites otherwise there is no way I'll be able to stay on target, I already have 3 weeks of freelance work booked in so it's looking like another month of all work and no play.
Leave A Comment
Showing 20 out of (32) Comments
Posted by Kirsty, at 04:22 on Tue, Jun 3rd
Holy crap you sound busy! But I guess with a target of earning a cool million in 12 months you don't really have time to sit around.
As a web developer myself, I will be interested to see if you can pull it off. Good luck with it!
Posted by Jay, at 23:29 on Fri, Feb 22nd
this is encouraging. thank you. now I know I should have learned flash instead of starting a site. of course I'm kidding.
Posted by Deb, at 22:32 on Wed, Feb 20th
Loved your blog, I will be back! I was laid off of a 11 year tv production job last Nov. you have inspired me. thanks
Posted by Gab Goldenberg, at 23:38 on Wed, Feb 13th
Sounds like someone needs to get into delegation.
Posted by 1 Million in 365 Days, at 00:31 on Wed, Feb 13th
The numbers look good though. IF you are your own boss than you can focus on what you really want and drop everything else that gets in your way.
Posted by ATV Style, at 02:11 on Tue, Feb 12th
The first months earnings are usually pretty low aren't they? Looks like you've done extremely well. If you do outsource some freelance work, send some my way will ya?
Posted by Tommy, at 19:19 on Sun, Feb 3rd
I\'m reminded of the work smarter not harder adage. Not sure if that is something you can apply given your seemingly frantic pace. What you\'ve done and are aiming to do is quite impressive I must say! Good Luck!
T
Posted by Jeff Buzz, at 14:51 on Sun, Feb 3rd
Good luck Toni! Seems like you\'re well on your way.
Do you have any posts that describe your freelancing projects more? It would be interesting to hear how you got into that, where you write, etc. Thanks!
Jeff
Posted by randomthinker, at 16:42 on Sat, Feb 2nd
encouraging article. My wife has been after me regarding my blog earnings. Apparently she doesn't see the point in me spending 12 hours per day networking, learning new blog stuff etc. My blog has only been online for a week and I'm still learning. My goal is to hit $1500 per month in earnings. I had to relocate due to my wife's job and had to quit my job. I wasn't earning much so any money earned wiill give me the incentitve to keep going.
Congrats on your success! Wish me luck.
Posted by Rach (Heart of Rachel), at 14:12 on Sat, Feb 2nd
Very impressive! Keep up the good work.
Dropping by via Entrecard.
Posted by hailey, at 12:45 on Fri, Feb 1st
i'm impressed! hopefully i can earn that too.
Posted by jamezu, at 02:20 on Fri, Feb 1st
Wow, I am very much interested in this blog.. really exciting. Btw, i have subscribed to your site so i will get updates on your posts... take care! n_n
Posted by Toni, at 12:37 on Wed, Jan 30th
Ha ... I wish it was UK pounds ... I put it in US dollars as most visitors are from the US.
Posted by HART (1-800-HART), at 09:47 on Wed, Jan 30th
Ooop // I just thought of something .. your $19,490 - that's UK pounds??? I guess that converts to 38,607.74 CAD so, make that 2 months and then I'd go on a small vacation!~ :)
Posted by trench, at 10:44 on Tue, Jan 29th
20K a month freelancing? you must be good at what you do!
Posted by Teasa's Tips, at 02:33 on Tue, Jan 29th
I wish you continued success. And I look forward to keeping up with your progress. I am going to stumble this article just because it shows people that you need a plan in order to be successful, and you definitely have a plan.
Posted by nick - road2blogging, at 20:16 on Mon, Jan 28th
Hey Toni,
Great news on your earnings. Think you do need to spend more time on some put up and forget sites - they\'re on my plan for Feb, and I think they\'ll bring in a little dollar over the next 6 months.
I think you would be best to try and offload some of the freelance work, as it does seem to be weighing you down. I know you need to live, but I think if you can offload to someone else 25% of it, then you\'ve got 25% of your time to spend on getting your 5 sites up and running.
What are the 5 sites - working websites, or blog niches? and how are you going to monetize them? It would be interesting to hear.
Posted by rodel, at 23:23 on Sun, Jan 27th
i think freelancing is not a good option.. yha ryt... all u aimed was for a million dollars.. not about lett'n money work for you to attain it but rather work for it.. double or triple time.. anyway, congrats..
Posted by Jay, at 16:26 on Sat, Jan 26th
Congratz! But I hope you don't yourself too much! I know it's hard work to a million dollars but is it worth it if you can't spend it, you know?
Take it easy...
And for some reason, my comments always end up in peoples spam folders!
Jay
Posted by Online Money, at 11:43 on Fri, Jan 25th
Congrats :) Keep up the good work.
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