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Income reports - True or BS?

Discussion in 'Site Flipping' started by BillyRayValentine, Jan 12, 2015.

  1. BillyRayValentine

    BillyRayValentine Regular Member

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    It seems the new craze to post income reports on blogs, as a "journey". Matthew Woodward does this and a few others post on his blog. The numbers seem astonishing eg go from a new blog to £4k a month in 2 months from scratch.

    Possible or just BS?

    I post this in the site-flipping section as you guys know more about due dill than most.
     
  2. meathead1234

    meathead1234 Moderator Staff Member Moderator Premium Member

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    From what I have seen (there are a lot of them as you say!), I think the majority are accurate in terms of what that person claims to make in terms of revenue. I'm sure there are some that are made up or exaggerated, but not all. Going from 0 to £4k in 2 months is not the norm but it's certainly possible. The real difficulty in IM comes from scaling $10k a month into $100k a month.

    Some of my thoughts on income reports in general:

    - They never show the full story. Can also never be sure if all income claimed is derived from the blog itself. Could be from legacy projects etc.
    - They rarely breakdown costs. Anyone claiming to make 5 figures a month and "only cost is hosting" is a liar. Blogging (for one) is extremely time consuming and running a business (which a 6+ figure a year blog is) is not cheap. It's not much of an achievement to make $20k a month revenue if you're spending $18k/mo to achieve that!
    - It's interesting how little some of the "big names" in IM actually make. Some of the best known bloggers only make $10-50k a month which really isn't that much (especially if they have employees) as the "household" names are in the upper percentile of earners. They are plenty of BHW members who make 7+ figures a year in revenue but don't publish income reports.
    - Blogging alone isn't that profitable. It's only worthwhile if you leverage the audience for something else (speaking gigs, own products/services, podcast etc.)
    - The quality of audience attracted to "income reports" is generally not great. Most of my favourite blogs don't talk about their income (which is usually a good sign).

    As an aside, I briefly met Matthew Woodward at Ungagged and also watched his talk. He came across as a smart guy and not a liar so I'd be willing to bet his income reports are accurate.
     
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    Last edited: Jan 12, 2015
  3. Dougie8

    Dougie8 Registered Member

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    I'd go with a lot of it is rubbish, but then there are the exceptions to the norm

    I'm a glass half empty guy. It's rubbish until I see it for myself
     
  4. SkyrocketSEO

    SkyrocketSEO Jr. VIP Jr. VIP Premium Member

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    Guess what OP, as long as you have newbies going to those worthless blogs clicking aff links bloggers will be making income. So yes, if a blogger is semi-famous he can get a nice income off of newbs.
     
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  5. BillyRayValentine

    BillyRayValentine Regular Member

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    Very good synopsis. Thanks

     
  6. prab1996

    prab1996 Elite Member

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    Mostly only newbies are attracted to it.
    If you have a make money blog then publish your income reports.
    If you have a medical blog then post about how many women you helped to get pregnant.

    It all depends upon niche and yes , as meathead said it is very time consuming thing and there is huge difference in income and profit.
     
  7. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    Gross revenue is just a small part of the story usually... there are costs in generating that revenue for any legitimate business and that goes for anyone that has any kind of website that generates revenue.

    Sometimes when I look at what I spend every month I punch myself in the face.
     
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  8. NapsteR

    NapsteR Jr. VIP Jr. VIP

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    Ya, you need to spend a lot for a blog to make 10k a site. For example I spend around 1k a month for a site that makes 7-10k a month.

    -> VPS
    -> CDN
    -> Site security
    -> Content
    -> Ads
    -> SEO
     
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  9. royserpa

    royserpa Jr. VIP Jr. VIP Premium Member

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    Interesting thoughts guys but with around $300 a month im pulling 320+ daily which on average is around the 10k mark.

    Thing is i found and bought all domains myself and content i made it myself.
    Overall the initial c9st was around 2k and hosting is around the 300/m mark.

    Perhaps im just doing things a lot more optimized but done manually than what an average guy would spend on a 10k month site.
     
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  10. Avid Learner

    Avid Learner Regular Member

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    One of the most sensible responses about this I have read on BHW.

    Too many flash a gross revenue figure, but what is actually impressive are net income figures...never hear that from so called gurus who are quick to give their revenue figures.
     
    Last edited: Jan 15, 2015