This page contains all quarterly income reports for Site #2 starting with the third quarter of 2020. To read overall income reports showing all income sources, please visit the Income Reports page. To see total income and a list of individual income sources, please visit the How Much Money I Have Made page.
Before I purchased the domain for this site I was asking myself: Is there room for one more blog? The answer is: ask me again in two years from now. I am not trying to be funny. That’s how long it will probably take to answer that question.
Ever since I retired from my banking career, I have been busy looking for ways to generate money as an entrepreneur. Essentially I was tired (but not bitter) of being an employee and wanted to create my own business.
It has been about a year, and I have established Pioneer Publishing Group LLC as the business entity for all my projects. I am using this site, Finance Notebook (Site #1), to record my progress and talk about my successes and failures.
From the very beginning, I set up clear financial goals and rules because I believe without a roadmap, I will get nowhere.
For this year 2020, the goal is to earn $5,000, and am on target to accomplish that and it won’t be hard.
The real challenge is to develop projects to ensure I meet my future financial goals without working 80-hour weeks.
Overall Income Goals
This is the summary table of my income goals. As you can see, they are slowly but steadily increasing. My ultimate goal is to prove that anyone determined can earn a full-time income as an entrepreneur within a reasonable time.
|Total (6-year goal)||$185,000|
That’s where the initial question comes in: Is there room for one more blog?
Sure, I could make this money with many of the gig economy jobs. I could drive for Uber or try any of the available food delivery apps. And I will probably have to do some of those jobs as the financial goals increase.
But I can also dream of living a laptop lifestyle. You know, drinking a beer at the beach while writing blog posts that make me rich. Ok, maybe not rich, but without too many financial worries.
The Odds Are Not in My Favor, or Are They?
According to growthbadger.com, “there are over 600 million blogs in the world today, out of over 1.7 billion websites!!”
How much money are those blogs making is hard to know, but a Problogger.com‘s survey ran a few years ago and asked 1500 ProBlogger readers how much money they were making.
Based on that survey, 63% earned less than $3.50 per day. On the upside, 4% of those who took the survey were making over $10,000 per month (6-figures annually). An additional 9% were making over $1000 per month, which could be considered part-time income.
I will be honest; I’d like to be part of the 4% group making over $10,000 per month, but it may be a combination of blogging and other business activities in my case.
Are the Odds in My Favor?
Neil Patel has said that only those who produce great content have a chance to succeed. In his own words, “With so much content being produced, great content is the minimum bet for getting in the game.”
I don’t disagree with Mr. Patel, but I think personal traits are more important than writing great content.
Let me explain.
I don’t think I will fail because I don’t write great content. If I fail is because I gave up too soon. I will learn how to write great content if I don’t give up.
According to bloggingtips.guru, around 90% of people quit blogging within a few months of starting. Based on various sources, websites’ average time to rank on Google, even with serious search engine optimization (SEO) techniques, is about six months.
Perhaps some of those people who quit early were writing great content, but they never gave it a chance to rank on Google and other search engines.
So, are the odds in my favor?
I will not quit within a few months, so my odds are already better. I am in no way an expert blogger. In fact, I am totally new at it and English is my second language. And this is why I am setting it up as a 6-year plan.
How I Am Trying to Squeeze in One More Blog
In May 2020 I started a blog about the new house my wife and I purchased in Lewes, Delaware.
I know, another blog about home maintenance, improvement and DIY projects. Good luck, right?
How are you to get a piece of the pie?
Have you ever been on a crowded subway train, wondering why you didn’t wait for the next one? I have, I used to have audit assignments in San Francisco and commuted to offices with BART (Bay Area Rapid Transit). In my first assignments, I often waited for the next train to find out that it was as crowded as the prior one.
Invariably, as people got off the train after each destination, there was more room, and I was glad I didn’t wait for another one. After all, you never knew if the next one was also going to be full.
This is how I am doing this blog; I am squeezing in the first train and waiting for people to exit the train little by little, but I will not leave the train until I arrive at my final destination.
2020 Basic Stats
These are the basic stats after 4 and 1/2 months.
|Month||New Posts||Total Posts||Users||Pageviews||Revenue|
2020-Third Quarter Review
This is my first quarterly review of site #2 and overall I am very happy with the progress so far.
I have averaged almost 3 articles per week in terms of productivity, which is not easy for me because I am a slow writer, and English is not my first language. But I wouldn’t have been able to do that without hiring writers to help me.
In my experience, writers have been very helpful, but they have provided maybe 60% of what I need. Don’t get me wrong; that’s huge, and I am very thankful for their help.
For every article I receive, I have to edit, add, and subtract quite a lot, but that’s not always the writers’ fault. I want to make sure the blog somehow reflects my personality and my life consistently throughout each article. It is not because I think my life is worth reading about, but because without the personal connection, I am just writing Wikipedia articles.
Nevertheless, without the writers, I would have maybe 50% of the content I have so far, which would not get me where I want to be. I’d like to continue writing 3 articles per week.
I have made $3,919 so far in 2020 and have spent $1,750 of that hiring writers. I am currently using IWriter to hire writers and I think it is worth every penny. I started my business with a $3,000 start-up fund, and right now, I have $2,869 in my account.
So, I am spending a little more than what I make, but this is investing in future growth, so I’m ok with it. But I have to be careful because I need to have enough money to pay for other business expenses.
Numbers of Users and Pageviews
If you look at the graph above, May and June’s numbers are overstated because they also reflect my pageviews. I didn’t figure out what to do not to count my own pageviews until July. I think September shows a clear upward trajectory with 118 users and 150 pageviews, but we need to see if the fourth quarter continuous that trend.
Easy number here: $0
Eventually, there will be two main ways to monetize this website: advertising and affiliates. I don’t expect to make any money until mid-year of 2021. Even if I get significant traffic I prefer to wait to get enough pageviews to apply for Mediavine or other premium ad management companies. It’s hard to make decent money with Google Adsense. In terms of affiliates, I’ll probably end up using Amazon Associates.
Anyhow, it will be a nice problem to have once I get traffic. Stay tune!