Welcome to my very first income report 💰 for September 2018.
I always wanted to make public income reports, because reading other’s income reports 📊 and daydreaming 💭 is so addictive you know, but its time to make a one of my own 🤑. Finally.
Usually others people first-time income reports start with really high income in thousands of dollars a month.
I wish my first income report would be that inspiring as well.
Unfortunately, I am almost embarrassed to say, that I earned only $67 in the first month 😭; hence I didn’t achieve my goal of earning $100 per month of side income.
Okay without further ado, let’s look at September 2018 income in detail.
💰 Income Breakdown
🛒 Sell Items Online
This category groups all my efforts of selling physical stuff online.
Remember that I said I would utilize all my resources to reach the goal?
Well, the first thing that came to my mind would be to get rid of all my stuff 💩 I didn’t use. So I decided to them on the Czech version of Craigslist.
Fewer possessions equal more freedom.
I don’t want to own any stuff besides basic clothing (flip-flop, tank top, swim shorts and sunglasses 😎), basic electronics (phone, MacBook, etc.) and gym accessories (gymnastic rings, resistance bands, yoga mat 🧘♂️).
Really I don’t need much more in my life.
All unnecessary stuffs are from times, when I was blue pilled and when I literally spend my paycheck on things I didn’t need just to feel alive.
I literally remember the day i got my first bonus. That joy, that happiness. First thing that came to my mind was to buy an expensive watch ($200). Mind you i was poor college grad drinking consulting kool aid. I was living in a rat race.
Anyway, when I am done selling all my stuff, I can put all my life into few boxes 📦 and move to another country 🌍 in a matter of a week.
So the reason, why anyone should start selling their stuff online as first step towards earning a side income is…
- It’s easy. Barriers of entry are so low, even a monkey can do it.
- Sometimes I catch a good opportunity to buy low and sell high. E.g. Last year after Apple announced new iPhone X, I managed to buy early and immediately sold for a nice $280 mark up.
- It’s not scalable. I can sell only limited number of stuff and I don’t want to buy new stuff just for sake of selling it under price.
- I still sell my time for pennies. It takes time to photo items, write a description, to regularly repost ads and finally to package it and send it by post.
- Sales are slow. Unless you sell useless stuff no one wants to buy for free, it takes time to catch a buyer.
- If I accounted for the original price I paid for, I would actually realize a substantial loss by selling it.
⁉️ Why I didn’t reach my goal yet
Free time ⏰ limited to only nights after work and weekends.
I spent all my free time on launching my blog and to write the first blog post. Specifically, it took 3 weeks to set up WordPress and 1 week to write a blog post in English! My English is not fluent, but I hope I will be more efficient in the future.
✅ What can be improved next month?
With finished blog site, I can focus more on business development, content development and to spend more time coding my first project.
💡 Business development
I have to be more creative to earn $100 a month. In October, I will focus all my attention on available financial products as I am looking to increase my passive income from zero to more than zero.
✍️ Content development
I will try to make 1 blog post a week to practice my English.
I will also engage more in social networks especially Twitter 🐦, which is surprisingly fun to use. 1 Tweet a day. Follow someone inspiring a day. How could i live without Twitter?
💻 Project development
I can finally start coding the first project. Hurray 😊. Even though I am not a developer, I have decided to go the hard way and learn to code in React and Django. Don’t ask me why, I just feel, that this stack will help me ship ideas I want to realize.
That would be all for this month. See ya in next income report!