Week 8

Ivan Ukhov olympic gold medal celebration

Ivan Ukhov’s reaction upon hearing the news of my record breaking week.

Two months in and things are looking good in Week 8. After something of a shock last week I was determined to bounce back quickly. That is exactly what’s happened this week as I have posted my record week so far for earnings – a stark contrast to the dismal loss incurred just seven days ago. The success of this week hasn’t all been about the money made though, I’ve had some real breakthroughs, not least my ‘great leaflet episode‘, that have made me feel as if I am growing in this project and have given me the confidence to approach it with renewed vigour and enthusiasm to push on towards my goal.

A point of satisfaction this week are the number of different revenue sources which is in fact another record haul. This shows that I’m beginning to broaden my horizons and that I’m finding ways to make revenue that I previously wasn’t even aware of. A few of these are also passive sources of income, which is the real key to being able to achieve this project in my opinion – now I just need to find a way to make them recurring income and I’ve won half the battle.

A few sources of income surprised me this week and just go to show that it is often worth pursuing something that I may be ignorant of as it may turn out profitable, and it will almost certainly teach me something. For example, a friend had a clear out of his house this week and was going to throw a bit of stuff out. He spoke to me first though and we agreed I’d take it instead and see if I could sell any of it. He gave me a few boxes and I sorted through them seeing what I thought would sell online. I thought the Books and DVD’s were the sure fire winners and that a vintage old stereo was probably going to be of no use to anyone. I listed the majority of it online though just to see and ended up getting £40 for the dusty old stereo, whilst all the books and DVDs are still sitting untouched.  Even more surprising is that nineteen blank audio cassette tapes fetched a whopping £36 (plus £13 for postage) on eBay. Evidently there is a big market for them in Russia. It’s those kind of things that I never would have realised otherwise. I now know if I ever stumble across some cassette tapes in a charity shop, to snap them up and sell them on to the Russians.

I also made a little from survey sites this week as I reached the payment threshold on Ipsos and got £3 for a survey on Pinecone. I did say I wasn’t going to bother with surveys, but these sites are particularly good so I do the occasional survey when I have the odd 10 minutes to spare (a fairly rare occurrence these days). I also received a nice chunk of money from ShareASale.com, which is an affiliate marketing site I use. Essentially this is a way I try to make a little money from this site, some of the links I use earn me money if you click on them and go on to make a purchase. It doesn’t affect the way you shop or price you pay in anyway but is simply a reward the site in question gives me for referring you. If you enjoy this site I would appreciate you helping me to grow the stash by using them where appropriate. You can learn more about my use of affiliate links here. Before you all think there’s loads of easy money up for grabs and rush out to start your own websites to cash in on the mega-bucks – this was from two purchases by friends who were going to buy a fairly expensive product anyway and I encouraged them to do so through my link to help me out, other than that affiliate links have so far made me next to nothing unfortunately.

In Summary:

It’s certainly been a very encouraging week, and a much-needed change of fortunes from last week. I came in nearly £100 over the target I set myself last time, which perhaps reflects the knock of confidence I had taken last week more than anything else. One thing I have noticed this week is that success and opportunities seem to find me rather than the other way round when I am fully expending myself and really doing my utmost. This is perhaps one of the secrets to success I will need to learn, that successful people attract opportunities largely because of existing successes.

For those of you who enjoyed the graphs last week, I have included another interesting insight this week.

It does work better as an interactive feature that can be seen .

An incredible 42% from mystery shopping, but a good spread of different sources can be seen.

It does work better as an interactive feature, which unfortunately can’t be embedded on this page, but can be viewed here. Whilst it’s not the most insightful chart ever, it does provide an interesting insight into the revenue sources that have proved most generous so far (bear in mind this is only showing turnover, not net profit – perhaps that is a graph for another day).

Revenues in Week 8:

Less expenses of £44.35:

Week 8 Total: £236.13

Running Total: £1282.45

For a full breakdown, see the balance sheet.
The Week Ahead: 

After an encouraging revival, it is really time to push on and start making some serious money consistently. Now I have a good bit of cash holdings it is now a priority to find a worthwhile investment to get that money working for me. Whilst it may not be realistic to expect a huge amount this coming week as I focus on getting new ideas up and running – and more importantly profitable – it certainly needs to be another week of growth. I am going to aim for £260 in week 9.

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  1. brian says:

    I think flexibility in business is key. Being able to drop a good opportunity for a better one is a big element. I would still like to know if you canake some good money from YouTube too.

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