As 2018 draws to a close I have been reflecting on what has gone well this year. One of the things I was most looking forward to was seeing how well my business made in 2018. I have decided to share this information with you to encourage and motivate you.
What is my business and how does it make money?
My business, Drew Media LTD, is home to a few of mine and my husband's money making ventures. They are:
- Coaching & teaching
- Reselling on eBay
- Fulfilled by Amazon
To name a few.
The business makes money in a variety of ways. Reselling on eBay and fulfilled by Amazon are pretty straight forward – I buy items that are then sold on for more money.
However, you might be wondering how I make money from blogging.
My blog has a few income streams, which you will see in the charts below. They include:
- Affiliate sales
- Course and coaching sales
Breakdown of 2018 income
Here is a breakdown of my business income for 2018. This is pre-costs.
This has changed a lot during 2018 and I have a few things to thank for it.
First of all, I had some sponsorship price coaching from Lynn from MrsMummyPenny. Lynn has a commercial background and was able to not only give me the confidence to ask for a lot more money, but also got me that money! Before the coaching with Lynn my biggest income had always been affiliates, and as you can see, sponsorships has now overtaken this. A one-hour session with Lynn costs £95 and I cannot recommend it enough.
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I also added more income streams to my business by offering a monthly blogging mentoring program, joining Mediavine (although this wasn't this year) and spending a bit more time (and money) on fulfilled by Amazon.
I wasn't surprised to find YouTube being a really low earner for me. This accounts for money paid by Youtube for ads, not any sponsored videos I have done. I really love my YouTube channel, but seeing how little money it has made for me means that I want to reevaluate what I do there.
YouTube is a really hard one to gauge because I cannot tell how many people have bought something from an affiliate link or gone on to purchase a course of mine because they originally found me on YouTube.
What about costs?
Of course my business has had a lot of costs over 2018 and it would be irresponsible not to mention them.
My blog related costs, freelancers and equipment spend has reached almost £20,000 in 2018.
It feels like a lot (because it is!) but I wanted to mention them.
Starting a blog is a very low cost business, but in order to get my business to where it is today I have invested in courses, coaching, freelancers and upgrading equipment.
Start your own blog in 2019
Now is the best time to start a blog. Imagine how much financial freedom blogging could give to you and your family, and starting now means you won't be sat here this time next year wishing that you had started your blog.
If you want 2019 to be the year where you start your own profitable blog then sign up for my FREE start your blog in 7 days course here.
You can get started for around £50 for your first year.
Learn with me from my blogging courses
Did you know that I have two blogging courses to help you to supercharge your blogging income?
Earning an income from blogging is absolutely amazing, and to celebrate how well 2018 went I am offering BOTH of my courses for 50% off until 31st January 2019.
Turn Your Dreams Into Money: How to Build a Six-figure Blog and Live the Life You Want is my mega blogging course, including a module on how to start your blog properly. Learn how to get more traffic, nail your SEO and most importantly, make some money.
How to SMASH Affiliate Marketing as a UK Blogger does exactly what it says on the tin. We see American bloggers making 6-figures a month from blogging, which probably isn't achievable for us here in the UK. In this course I cover everything to help you create an affiliate marketing strategy that isn't just putting Amazon Associates links into your posts and hoping for the best.
Get 50% off both courses with code JANUARY2019 here.
What will I be changing in 2019?
This is such a tough question to answer because I don't know what 2019 will bring.
The first thing to mention is that I am closing one of my most profitable income streams – my monthly blog mentoring, #MyBlogMyBusiness. Considering that blogging courses and mentoring make up the third highest income for my business this isn't a financial decision at all. I have decided to focus on other projects that I want to do, as well as serving my audience properly. Adding mentoring onto my plate was a great financial decision, however it meant that I was spread too thinly.
I want to increase my affiliate income by introducing a selected few more affiliates to my readers. The key to affiliate marketing is to only promote products and services that you know and love, so it is really important that I find the right affiliates to share with you. I am working on introducing 5-10 new affiliates in 2019.
Increasing my page views will help me to increase my blogging income across a number of areas – I will be able to attract more sponsors, I will earn more from adverts and hopefully earn more from affiliate sales too.
As for reselling, I am still deciding what to do here. I really enjoy selling on Amazon with FBA and I am torn between throwing more effort into that in 2019, or working more on my blog.
My lowest income sources are freelancing, YouTube and one-to-one coaching. I need to decide whether to continue with them as they are, try to make them more profitable or stop doing them altogether.
We have also hired our first full time employee who started in November 2018, so I am excited to see how this changes the business.
Where is your side hustle income?
You might be wondering where my side hustle income is, because it isn't listed above.
Drew Media LTD is a limited company, meaning that's where my business income is housed.
Side hustle income is accounted for as a sole trader, and doesn't appear here.
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My thoughts on my 2018 income
I am absolutely blown away to have hit another 6-figure year in my business.
When I started my blog 8 years ago I had no idea that you could even make money from blogging.
I am incredibly proud of the hard work that I have put in to making a 6-figure business, and I hope it continues into 2019.