December 2016 Income Report: Family | Semi Passive Income | Australia
November 2016 Income Report: Reaching My Profit Goal | Employing a Virtual Assistant | Living in Bali
Spending Time with Family 👨👩👦👦
One of the main reasons why I started this whole journey to become a Digital Nomad and create an online business is so that I could have more control of my time.
Like most people I worked a normal 9-5 job 5 days a week. Even though I enjoyed my job I hated how much time I had to dedicate to it.
When you accounted for traveling to and from work it really ended up being a 8-6 job.
By the time you got back home and made some dinner you only had a few hours to yourself every.
I hated this.
In those few hours I wanted to exercise, spend times with friends or family, play some music, sports, art.
So it was always a rush to cram in anything that was non-work related into the slither of time the I had in the evening.
Then there was days where I was too exhausted to even do anything so I ended up just sat watching TV or on the PS4 all night.
This daily loop is what most people are familiar with.
It is the norm.
It is the rat race.
I have decided I value my time more than I value chasing numbers in my bank account.
With this extra time I want to gain new life experiences by traveling the world and meeting people and to be able to spend quality time with my family and friends.
This month has been a perfect example of this. I have got to spend an entire month living with my family who moved to Australia 10 years ago.
The last time I seen them was 4 years ago. But even then I didn’t get the chance to spend a lot of quality time.
Now that I’ve had the opportunity to really spend time with them. To get to know my cousins properly, beat the in Fifa., go out for drinks with my uncle, just hang out by the beach and the park, spend a Christmas day with them.
To me it’s these little moments which as really valuable and shouldn’t be missed.
All this is only possible with my pursuit of this lifestyle.
I am pretty sure if I had stayed in my 9-5 job I would never have been able to take a month off and had these experiences.
It is only with this new found freedom that I have this flexibility.
That and a very accommodating family who fed and put up with me for so long.
Semi Passive eBay drop shipping 💸
So December I was expecting a tonne of Christmas sales.
It started off pretty crazy but this quickly died off. After 2 weeks the sales slowed down massively.
But I didn’t really mind too much to be honest.
I was ended up turning into full holiday mode where I didn’t want to do that much work and just let the whole business coast.
I was doing the bare minimum of processing orders and responding to customers every day. Which realistically only took an hour a day if even.
The software Pricematik I am using for listing and monitoring the prices was also not performing well enough for the Christmas period.
It only checked prices every 24 hours. But prices fluctuate and stock goes in and out of stock all the time. I had to cancel so many orders and made little to no profit on other items.
It was a massive learning curve for me. It made me realise that I had to change my software so that next Christmas I would be able to handle all the sales.
December 2016 sales
Gross Sales = £3732.01 | -£1,497.04
Gross profit = £635.44 | -£116.82
Insertion Fee = £24.54
eBay Basic Shop fee = £52.17
Pricematik = £78.47 | -£2.1
Virtual Assistant Payment = £41.76
Total expense = £196.94 | -£36.51
Total net profit from eBay drop shipping = £437.57 | -£81.24
I’ll be honest I didn’t expect my profit went down this month. I thought I would have made more during the Christmas period.
But with the software issues and learning that sales nearly stop around 20th Dec it is good to know for next year.
Ultimately I can’t complain with the amount of actual work I did this month.
That really is the beauty of setting up income that is passive or semi passive in my case at the moment.
Time spent doesn’t equal money earned anymore.
This business will continue to earn income 24/7.
Due to the time different between Australia and the UK I get most of my sales during the night.
Therefore I literally earn money while I sleep.
I think that’s pretty cool.
If you want to know more about this business model I recommend you read my review of David Vu’s Udemy Course. It’s where I learned the basics of setting up an online eBay business and fully recommend it to anyone.
Passive Kindle Publishing 📖
Again I will put my hands up and say that I was so lazy with publishing my book this month.
I had the book.
I had the cover.
All I needed to do was finish up formatting the book and publish it on to amazon.
It took me until the 20th until I had everything completed.
But when I did the sales came rolling in.
I’m so surprised with the success of my book so far.
I imagined that it would take a while before the sales built up but it was pretty instant.
I’ve even got a decent number of positive reviews which is cool.
The best thing about having this book now is that it is completely passive.
So far it doesn’t feel real yet. I just check on my amazon account and look at the sales numbers go up every day but I have literally done nothing since I hit the publish button.
So I made a huge mistake with publishing this first book.
I wanted to make it a really good quality book so I had loaded it with really nice stock images throughout.
This meant that I had to print my book in colour which put the cost of printing up massively. My profit per paperback ended up only being around $2.
If I had chosen to the book to be printed in B&W my profit per book would have been around $5-$7 which would have made a big difference to my overall profits.
This is especially true as apparently most of your profits come from paperback sales rather than kindle sales.
From what I have seen and researched you make 4-8x more on your paperback sales rather than your kindle sales.
For me and anyone else who wants to try this business model.
Always print in B&W.
But I am so happy and surprised with how well this has worked. I am planning on creating more books in January.
In my head now if I can get around 10 books and even if they only make £50 a month each. Then that would be £500 a month of completely passive income.
I don’t know of any other way to make money that is this passive. Maybe investing in stocks and shares. But I would’d have enough to invest to get this amount of return.
So kindle is now my second stream of income. Which is cool because I never want to rely on just one source of income incase it ever it ever stops for any reason.
Amazon Kindle Sales
Total Kindle Sales = £119.64
Paperback Sales (CreateSpace) = £10.51
Passive Income from 1 Kindle Book = £130.15
Expenses / Costs of Living 🙈
300AUD for daily expenses = £177.87
Phone Sim + Top up = £47.12
Camera Lens Cap = £8.87
Food Shop = £35.08
Coffee / Tea = £8.79
Flight = £129.94
Clothes = £58.24
Beer = £56.39
Total Expenses = £462.3
Income – Expenses = £106.35
My first month where my income exceeds my expenses! 🙌
After months of working long hours and late nights it is the month that I do very little that I finally make a positive return in a month.😅
But I can only credit this down to 2 factors.
- My incredibly generous family who gave me a place to stay and fed me awesome food all of the time. Without them I would definitely wouldn’t have been able to afford living in Australia for over a month.
- All the work has finally paid off and my eBay business is now semi automated.
Final thoughts 🤔
It could be easy to see December in a negative way.
My eBay profits aren’t as good as last month and I made a big mistake on my book which effect the amount of profit I make off it.
But when I have reflected on this month I couldn’t be happier.
My eBay business continued to run without me doing much work on it.
The kindle business is now a proven business model to made that I will now grow it.
Then I was able to spend so much time with my family.
It’s been awesome.
To be honest the past 4 months I have been working pretty much constantly. I was so burned out but didn’t realise it until I got to Australia.
My enthusiasm to work had dropped completely and I was pretty deflated whenever the sales slowed down mid-December.
But I feel reenergised after taking this time out.
I am looking forward to getting back to Bali and working again.
I feel that I now have a pretty solid base in terms of income.
Now my goal is to automate my eBay business as much as I can so that I don’t have to work on it daily. Which would free up my time to create more books and start on business number 3.
What is it? I have no idea yet but I will continue to try out new ideas from research and from meeting really smart and talented Digital Nomads wherever I travel too.
I am finally realising that this way of living. Working and Traveling.
Is completely possible and doable by anyone who is willing to give it a try.
It’s been 5 months since I started from basically an idea, some savings and a lot of determination to make it work.
I feel that now I am over the first bump.
I’ve made a base income that will allow me to have a basic life in certain places in Asia.