New Passive Income Ideas – But at What Cost?
Another month has gone by, and my overall book earnings are still (relatively) strong – considering I have been neglecting them, that is. While I seem to have hit a plateau, I am nevertheless always proud of such earnings because they are, for the most part, very passive. I haven’t actually posted a book into my Amazon/Nook account for several weeks now – perhaps more weeks than I can count — and the ones I do publish are far and few in between. Considering the minimum amount of work I have been putting into this, I’d say my recent earnings are not overly awful.
The takeaway: This is why I love passive income; it allows you to take a break and still make money as long as you play your cards right.
I have freely stated that I am not much into erotica anymore, which is clearly contributing to the lack of effort on my part. Meanwhile, though, I have been focusing on other things to expand my overall online journey; I admit, I hadn’t had this much fun in ages.
My Income Report:
Amazon Net Units Sold: 1,482
B&N Net Units Sold: 304
Total Income (Approximate) $780
So, What Have I Been Up To?
For starters, perhaps too much to handle at the moment. The biggest mistake anyone can make is to try and spread themselves too thin. Many people are naturally creative, resulting in an abundance of motivation to start new projects without actually planning ahead. Others tend to read and learn too much and soon find themselves with “information overload.” In turn, this paralyzes you and, ironically, your very desire to be successful ends up being your downfall.
I am guilty as charged on both counts.
That said, I have started to work on several things since June 2013, some of which are on hold (gasp!) Not due to laziness, but rather because I’ve realized my approach wasn’t very viable in the long run.
Launched Online Classifieds Website
I had recently started a classifieds website based on the adult niche, or personals niche. I was able to bring in some decent traffic soon after launching it, so the traffic itself wasn’t much of an issue.
The problem was actually finding the correct monetization method, as I hadn’t fully realized that Google AdSense was not appropriate for such niche site. So I moved on to adult-oriented advertising, such as JuicyAds and AdultSense. The problem? These networks were paying next to nothing, and the average ad click was earning me a mere 5 cents. People were fairly active on the website and clearly clicking the ads, but the monetary results simply left much to be desired.
As a result, after some long and hard thinking, I decided to put this niche on hold (for now) and try a more ever-green subject instead, specifically one that Google AdSense would allow if I ever choose to take that route. I finally looked into another niche I’m potentially interested in, and this one appears to be more approachable as far as monetizing goes. I simply have to learn a few technical settings and details before I execute it.
Still Working on Longer Romance Books – Sort of
I had briefly mentioned in previous reports that I was working on longer books with a friend, which are going into his Amazon and Nook accounts. Well, this is still a (rather slow) work in progress and I am now starting the third book in the series. I gotta say, working on book series is a lot more fun than writing standalone stories – not to mention this increases the chances of winning you some truly loyal followers over time.
Working on New Freelance Website
Lastly, the project I am most excited about is a new website dedicated to freelance writers. It’s very simplistic in nature and doesn’t consist of providing content on the site itself. The idea is to build a mailing list containing a series of tips and much more, which is something freelancers typically welcome with open arms. Over time, the idea is to also suggest related products which may be of help to them.
So far I have had over 150 signups in just two weeks (as of this writing.) Best of all, I feel like I haven’t yet broken a sweat with my promotion efforts, so let’s see how big and how fast I can grow that list of seemingly interested writers and authors. By the way, my primary promotion methods include classifieds and Facebook ads, something I am totally digging as of late. I will provide you with more details later on as my fan base grows.
It’s been a busy summer, as you can see. Meanwhile, I’d like to hear some of your goals for the remainder of the year. Has everything turned out the way you’d hoped? If you’re actively working on a certain project, how’s it coming along so far?
Remember, don’t make the type of mistakes that I (and so many others) make online. Focus your efforts on one thing and one thing only. Sadly, I personally understand this is much easier said than done.