November Business Income: How I Earned $13,387 This Month

November marked my first full month as a self-employed professional, and it went very well. It was my highest month of self-employment income so far. While I’m pleased with November’s results, I believe December can be even better.

In November 2013, I earned $13,387 in business income before expenses. I’m aiming for a similar figure or higher this month.

For perspective, last November I made $5,114 in extra income. That was great at the time, but I’m continually surprised and grateful for the growth I’ve seen month after month.

When I first started blogging, I didn’t imagine reaching this level of income. I read income reports from bloggers like Pat at Smart Passive Income and Crystal at Budgeting in the Fun Stuff and assumed their earnings were out of reach. If you read those reports, you might feel the same way—like those success stories are unattainable. I used those posts as motivation, and it turns out I was wrong to dismiss the possibility.

I’m not yet at Pat’s or Crystal’s levels, but I work every day to improve and grow my business.

This total is for November and is shown before fees and expenses. Expenses that reduce the gross amount include roughly $1,500 for VAs for other websites, a purchased website, PayPal fees, and similar costs.

November’s figure includes a rent payment from my sister. After all expenses and fees, I made approximately $13,387. The amounts listed are my personal earnings from my services; I do not include revenue from blogs I help run unless it’s paid directly to me.

Please remember that this represents business income rather than passive earnings. I spend many hours every day on my work. While I hope to create more passive income streams in the future, much of this revenue is active work. For about a year early on I didn’t earn anything while still investing full-time hours into my side projects.

Taxes also significantly affect net income—estimate roughly 30% to 40% for taxes as a self-employed person. I plan to write a detailed post about taxes for self-employed individuals on Diversified Finances soon.

As a reminder and a reality check: this is still work. Some people assume I quit a job and now do nothing, but I put in substantial time. Over the years I’ve become better at streamlining tasks and delegating some responsibilities, which helps. For a while I juggled a full-time job alongside growing my business, which meant many sleepless nights.

Fortunately, I enjoy this work, and my goals keep me motivated. Our immediate financial targets are saving for a two-month trip planned for January 2014 and for our wedding. For more details on my ongoing income and side businesses, see my Extra/Business Income page.

If you have questions you’d like me to cover in next month’s income update, please let me know.

Blog News

I’ve decided to redesign the website, and I’ve engaged a talented person to handle it. I’ll share updates soon.

My sister’s blog, FITnancials, continues to do well—please consider subscribing if you haven’t already. She’s making changes and planning a move to Chicago soon.

My self-employment and financial independence blog, Diversified Finances, is also performing well. I’m glad I launched it; having a place to discuss self-employment and receive reader feedback has been invaluable. If there are topics about self-employment you’d like me to cover, leave a comment.

If you’re interested in starting a blog, check my post How To Start a Blog for step-by-step guidance. Another popular post this month was How To Make Money Blogging, which outlines practical methods for monetization.

I’m still not doing great with keeping a schedule.

Sticking to a schedule is one of the toughest aspects of self-employment for me. I haven’t consistently managed an early wake-up, and here’s what my current routine looks like:

• I often work late into the night, typically between 2 a.m. and 4 a.m.
• I wake up around 6 a.m. to answer emails and handle urgent tasks.
• I usually go back to sleep around 8 a.m. for a few more hours.
• After that I’m up again but sometimes end up watching TV while doing work.

This routine isn’t ideal. I need to establish and stick to a better schedule and limit distractions like television while I work.

What about my progress after FinCon 2013?

Many readers ask what I learned at FinCon and which lessons I’ve applied. I took away several ideas and listed them in my post My Plan For the Future. I haven’t been as active in implementing changes as I should be, so I need to create a concrete action plan and follow it.

Planned priorities include (in no particular order):

1. Start an eBook — I haven’t begun planning in detail yet; the idea feels intimidating. If you’re working on your first eBook, I’d appreciate tips.
2. Build my brand — I need to be more deliberate and consistent in brand-building efforts.
3. Promote more — I haven’t promoted as aggressively as I should.
4. Accept more interviews — I’ve been doing well with this and said yes to several interviews in November.
5. Speak at a blogging conference — That’s a long-term goal and something I find daunting right now.

Staff Writing

I added several staff writing gigs, including work for the Any Option blog and Road to One Percent. I’m still looking for a few more positions. I often find I have free time and feel most productive when I’m filling those slots with writing assignments. I also love writing and have over 100 topic ideas saved on my phone.

If you need a staff writer or a one-time content contributor, get in touch. I can provide regular content, occasional articles, or short-term coverage while you take a break. My turnaround is quick and I’m reliable. For more about getting started in freelance writing, see my article So You Want to Be a Freelance Writer?

Buying websites

Last month I purchased my first website. It’s a small personal finance blog that had relatively few articles but had been established for some time. It was affordable, and I’ve already improved several metrics and rankings. I’ll cover buying and optimizing purchased sites in more detail soon.

Update On My Blog and Social Media Management Services

My blog and social media management services remain a major portion of my monthly income. I manage various aspects of several blogs, and those contracts helped boost my revenue in recent months. I enjoy these services and the variety they bring.

I’m hoping to renew a long-term contract this month and hope to add more clients before year-end. If you need a blog or social media manager—whether for a short period like a week or month, or longer—contact me and we can discuss options. If you’re interested in becoming a virtual assistant, I also have resources on what VAs do and how to get started.

Affiliate income – Still no changes.

I haven’t focused much on affiliate income recently, but I plan to address that in December. I have a few affiliate products I’ve been asked to review and I’m looking forward to publishing those reviews.

Offline side hustles.

Finding an offline side hustle has been a low priority lately—I haven’t explored options much this past month. On the homeowner front, my sister’s boyfriend plans to move into our house temporarily. They could rent elsewhere before moving to Chicago in 2014, but living with us helps them save money. We’re charging him a modest $125 per month. This arrangement also means they can watch our house and dogs while we’re away on our long trip.

What offline side hustles do you have?