The Income Reports Dilemma – Why Bother?

The Income Reports Dilemma – Why Bother?

Posted on 14. May, 2013 by in Archived Post, Income Reports

Good question….certainly was not an easy one for me to answer. I grappled with trying to figure out the best way to show you my income reports. How can I back up my monthly figures? With screenshots of my Paypal, Amazon, and Ebay accounts (well, can’t do eBay for now – you can read about my Ebay issues in an earlier Ebay post)? Would that be believable? Skeptics would point out that anyone can Photoshop one of those accounts and they would be right. The flip side is the visual impact of actually seeing those accounts which typically reflects what money someone has made. Perfect example would be an income report posted by Paula and Wanda from AffiliateBlogOnline.com. In 2010, they posted a blog titled “How Much Did We Make On Amazon In November 2010?” which captured the attention of many, many visitors. In the blog, you can see a screenshot of their Amazon account which shows their Total Monthly Earnings of $19,023.09. Wow!!!! That still knocks me off my feet. Do I believe they made that much? Absolutely. Why do I believe it? For starters, I have been following them for some time as they built their Amazon Affiliate base, so their phenomenal growth did not happen overnight. Plus, they have a video of them opening a letter that contained an Amazon commission check that was more than $30,000. Could the video be fake? Possible…but not probable. I believe them.

Another blogger that I follow is Pat Flynn with SPI (SmartPassiveIncome.com). He does a solid job of providing his income reports online. Those reports are not screenshots or videos at all. Simply a breakdown of his monthly income on a webpage. Do I believe Pat’s numbers? Absolutely. Again, his income growth did not happen overnight, either. As with Paula and Wanda, I have been following Pat for some time, too. Now, Pat started reporting his monthly income when it was around $7,000 which, to me, is pretty darn good. Now, he’s grossing around $50,000 per month. Of course, I will not be reporting a monthly income like that for now…..maybe down the road, but not now. We’re going to be starting closer to zero dollars and zero cents and build our way up.

Do you see how numbers can get someone’s attention…doesn’t necessarily matter whether it’s a screenshot or simply numbers on a page. I tend to think people still naturally extend the benefit of the doubt to others. If something isn’t true, it will eventually come to light – out in the open for all to see – credibility ruined. I think, as a blogger, when attempting to promote income reports and such, reader trust needs to be earned. Earning that trust takes time and patience. Sounds corny, but it’s so true. Saying that, I’m going to refrain from posting screenshots and videos for now. That may change later which will make my life a little easier from a reporting standpoint, but for now, I’m going to take Pat’s approach and post the numbers only. Once, I feel as though I’ve gained your trust, then I’ll consider posting screenshots.

You will see five sources of income:

  1. Amazon Sales
  2. Ebay (on hold for now due to suspension)
  3. Amazon Affiliate Commission
  4. Bluehost Commissions
  5. Market Samurai Commissions

For now, you will only see me affiliated with Amazon, Bluehost, and Market Samurai. Bluehost and Market Samurai I strongly vouch for as I have been using their products and services for some time. I’ve been with Bluehost for nearly 7 years and Market Samurai for nearly 3 years. Both are outstanding in their support, pricing, and product(s). No complaints from me. You will not see me promoting products that I simply do not believe in for whatever reason. I just will not do it. I’m not trying to play moral police or anything like that. That’s just me.

Hopefully, these income reports will help motivate and encourage you while you build your passive income streams. They show that you can recover from any potholes on the road to passive income success. Please note the monthly numbers have been adjusted to reflect ANY refunds and expenses thereby leaving only my net profit. I take half of my net and reinvest…any remaining profit is used to pay one or more monthly household bill(s)  such as our cell phones, insurance, internet, food, utilities, etc.

  • October 2012 – $410.62 (Ebay only)
  • November 2012 – $289.74 (Ebay only)
  • December 2012 – $378.17 (Ebay only)
  • January 2013 – $443.12 (Ebay and Amazon)
  • February 2013 – $49.96 (Ebay only)
  • March 2013 – $12.99 (Amazon only)
  • April 2013 – $119.90 (Amazon only)

15 Responses to “The Income Reports Dilemma – Why Bother?”

  1. James

    12. Jun, 2013

    About how long were you following these other bloggers? I guess I’m wondering about how long it took for them to build their businesses.

    Reply to this comment
    • Big Dave

      Big Dave

      13. Jun, 2013

      I’ve been following Pat for nearly two years and Paula/Wanda for about a year and a half….

      Reply to this comment
  2. SharonJ

    12. Jun, 2013

    I’m confused! Why would you post how much you made on your blog? (Not that it’s not interesting… just curious!)

    Reply to this comment
    • Big Dave

      Big Dave

      12. Jun, 2013

      Good question…as mentioned in the post, it’s more for inspiration and motivation. The struggle I had was how do I present my earnings…..can’t please everyone.

      Reply to this comment
      • SharonJ

        23. Jun, 2013

        I guess that makes sense! It does help to see that someone else has been able to be successful earning an income online….

        Reply to this comment
    • Sky

      13. Jun, 2013

      I always find it inspiring when I read about how much everyone else is making off of their blog. I think it goes a long way towards showing others that it can be done.

      Reply to this comment
  3. Paolo

    13. Jun, 2013

    I haven’t heard of Market Samurai Commissions before. Are they reliable and can provide you with stable income as a start? Thanks!

    Reply to this comment
    • Big Dave

      Big Dave

      13. Jun, 2013

      Paolo,

      I have not earned any commissions from Market Samurai and am ok with that. What I can tell you is that they have a great Keyword Research product that can benefit those looking to setup an online website for whatever reason. In the near future, I will be adding more info and tutorials about Market Samurai and another outstanding keyword research tool named Long Tail Pro.

      Reply to this comment
  4. Sarah Harris

    11. Jul, 2013

    I don’t think you should worry about people believing your numbers depending on the way you present them. Your whole blog is based on trust, as you could make it all up if you really wanted to. Readers put together the puzzle pieces of your blog and decide whether you’re a credible character or not.

    In my opinion you’ve given character and credibility enough thought that I couldn’t imagine “you” (the you I imagine from reading these posts) lying.

    Particularly as you’ve done a whole post on how you should present your numbers. I think typing them is probably easier to read than a whole lot of print screens so that would be my preferred presentation.

    Reply to this comment
    • Big Dave

      Big Dave

      14. Jul, 2013

      Thanks, Sarah….I appreciate your insight and you are right regarding trust. What’s done in the shadows will eventually come to light. That’s my belief…

      Reply to this comment
  5. Sarah

    13. Jul, 2013

    These are interesting and inspiring numbers. Let me know more on how to get started and what software I would need

    Reply to this comment
  6. Mike

    17. Jul, 2013

    Yeah I agree with Sarah Harris, don’t worry about people believing you or not. It’s all about your over-all credibility, as long as you cultivate that and continue to provide sound and useful advice that helps others achieve results people will believe you!

    Reply to this comment
  7. Rebecca

    17. Jul, 2013

    What are Bluehost Commissions Market Samurai Commissions?

    Reply to this comment
    • Big Dave

      Big Dave

      19. Jul, 2013

      Much like being an Amazon affiliate….any sales you’ve made, you will get a percentage of it.

      Reply to this comment
  8. John

    13. Aug, 2013

    It seems like your profits are drying up (down to 25% of January profit) You aren’t giving up, are you?

    As Sarah said, this site is based on trust. It certainly helps credibility that you’re showing some bad months. Hopefully things pick back up!

    Reply to this comment

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