Building an Online Business – July Review

Hey there!

It’s crazy that the first month of AskNickFoy.com is already over. It feels like I just started this website yesterday.

The first month has been a great month though as I’ve got lots to share that I’ve learned as well as what’s ahead in August.

For starters, I published 8 articles this month, one every 4 days, which was strategic. Moving forward I will increase production at some point and post more than twice per week. Here are the first 8 articles published to AskNickFoy.com’s blog:

  1. Welcome to AskNickFoy.com
  2. Starting a Website Basics: What is Website Hosting and Why You Need It
  3. Starting a Website Basics: What is a Domain Name URL
  4. Starting a Website Basics: What is WordPress
  5. Starting a Website Basics: What is a Landing Page
  6. The Ultimate Guide to Starting an Email Newsletter
  7. What to Give Away as an Optin Incentive to Grow Your Email List
  8. The Ultimate Guide to Using ConvertKit for Email Marketing

As you can see, these are all of the basics to getting started online and will be the core articles I refer people to on AskNickFoy because to get started online you need a website. To build a website you need web hosting, a domain name, and a content management system which is what was covered in the first 3 articles of website basics and then the last 4 articles written dealt with building an email list.

An email list is important because you can market your products and services to it down the road but in the mean time you can alert them when you’ve published new content and build a relationship with your list. Your email list stays engaged with your brand and content unlike traffic that comes to your website once and never comes back.

Along with publishing 8 articles, I also uploaded 11 new videos to the Ask Nick Foy TV – YouTube channel, which you can check out here.  These videos walk you through the basics of setting up a website and tutorials on how to use WordPress as your content manager on your website.

Now that we’ve covered the blog, and the YouTube channel, let’s talk about email. In July I did not set up an email newsletter yet officially. I put up one opt-in form to capture email addresses which can be found on the home page. My free incentive I’m giving in exchange for someone joining my email list is my 20 step guide to starting an online business which can be found here.

It’s a temporary incentive until I set up my newsletter and create a few new incentives to give away. That will be the goal in august: create an email newsletter series, write 10 emails for the newsletter series that get sent automatically as people join, and then create a few different opt-in incentives to grow my list and get those subscribers to join.

That’s the core of online business summed up that you just read. Start a website, publish free content in the form of blog articles and YouTube videos to get out into internet land and be seen by people. Once people see your content and come to your website, you have an email opt-in form set up to capture them in exchange for a free gift/incentive.

Now that I formed the building blocks for AskNickFoy, I can focus on publishing more great content as well as growing traffic to my website where my email system will be set up to capture the traffic. August will be my experiment month where I try a bunch of traffic growth strategies that I will document and share in August’s Performance Review at the end of next month. Neil Patel has a bunch of great article on content marketing and traffic growth I’ve been reading.

Other Business Ventures

Along with getting AskNickFoy off the ground, I also continued working on my main revenue source GolfPracticeGuides.com as well as Under30wealth.com.

To catch you up to speed, I started Golf Practice Guides in October of 2014 as a sophomore in college at Ohio State and now 21 months later it’s doing $1,700/month for me in net income and over $2,000 in sales. My core product is selling online courses and eBooks on my website. In fact, I’ve got several new products I’ve added to the store that are launching today, August 1st, 2016. These should diversify and boost my income from Golf Practice Guides.

I started Under30wealth.com on August 10th of 2015 which also happens to be my birthday. So in about a week, it will be U30 Wealth’s first birthday and my 22nd birthday. U30 Wealth has not made me one single dollar yet in the year it’s been in existence but I’m not too worried. It’s getting decent traffic and August will be dedicated to growing the traffic further. I also will be working to build an email list for U30 Wealth.

Here are some stats to catch you up on so that you’re ready for the monthly reports I’ll be publishing every month.

Website Traffic:

Golf Practice Guides

  • July – 3,476 visitors & 11,137 page views
  • June – 3,887 visitors & 12,471 page views
  • May – 1,779 visitors & 6,110 page views
  • April – 602 visitors & 2,535 page views

Golf Store

  • July – 1,481 visitors & 3,066 page views

Under 30 Wealth

  • July – 724 visitors & 1,017 page views
  • June – 193 visitors & N/A page views
  • May – 196 visitors & 196 page views
  • April – 382 visitors & 574 page views

U30 Wealth Store

  • July – 67 visitors & 116 page views

To track my monthly website traffic, I have Google Analytics installed on my website which is super simple to do and a must have when you first start your website. I also use a company called Clicky.com which gives me detailed statistics in an organized manner. I love that I can go to my WordPress dashboard and see a summary of the top referring websites sending me traffic as well as my most viewed webpages.

Email List Subscribers

Golf Practice Guides

  • End of July = 813
  • End of June = 666
  • End of May = 283

Under 30 Wealth

  • End of July = 94
  • End of June = 89
  • End of May = 85

Every month moving forward I will be tracking my email list subscriber growth. As you can tell I was poor at tracking this in the past and therefore can only think back to recent months when I switched from Mailchimp to ConvertKit as my email marketing software company.

Since switching to ConvertKit, I’ve been able to see a lot of advanced analytics I wasn’t able to see with Mailchimp.

list growth june 2016

HelloBar by Neil Patel

I’ve also been testing out HelloBar which is a free tool for driving traffic to my optin forms, store pages, and pop-ups that capture email information in exchange for my optin incentive gift.

HelloBar Analysis – Golf Practice Guides

 

HelloBar Analysis – Under 30 Wealth

 

OptinMonster Analysis

 

Instagram Followers

Golf Practice Guides

  • End of July = 25,347

Under 30 Wealth

  • End of July = 6,607

Ask Nick Foy

  • End of July = 834

I’ve never tracked my Instagram following in detail from month to month before so this is something brand new I’m adding to this monthly performance review that you’ll be able to follow every month and see growth. You’ll find that tracking analytics actually motivates you to work harder because you want to see your numbers growth and feel like you’re brand is making progress. It’s hard to tell if you’re actually making progress if you aren’t tracking statistics.

July’s Revenue Breakdown

Ahhh, the part you’ve been waiting for! How much money did my online businesses earn me in July?!?! First, let me share the different streams of income I currently have and am working hard to grow:

  • GolfPracticeGuides Website Store Sales – I have a store page with about 11 different products that I drive my Instagram followers and email list members too. I also link to different products within blog articles if the product is relevant to certain articles.
  • Amazon Kindle eBook Sales – Amazon was my first way of making money online. I wrote a golf eBook and uploaded to my FREE Amazon Kindle Publishing account. Every sale that occurred I was paid 70% and Amazon took 30% since they hosted my product in their store and sent me the traffic.
  • Under3oWealth Website Store Sales – I currently have 3 courses built and published that have not sold yet. One is a real estate investing video course that spans 30 videos over 30 days and is great for beginners wanting to learn real estate investing. I also created a stock market investing course and a course on how to build wealth which covers everything personal finance related (budgets, saving, investing, taxes, etc.).
  • Affiliate Income – different products and softwares I use in my business have affiliate programs so if I enjoy the product, I can recommend it to friends and earn a commission on the sale. It’s basically getting paid a customer referral fee for promoting someone elses product and helping them make a sale. For example, if you were to use BlueHost or ConvertKit in your online business and you bought their product through my affiliate link, I would get a commission at no extra charge to you. My affiliate links for each are http://asknickfoy.com/bluehost and http://asknickfoy.com/convertkit
  • Instagram Paid Advertising – now that I have 25,000+ followers on my Golf Instagram page and over 6,000+ on my U30 Wealth Instagram, I often get direct messages from people asking me to post a photo of theirs to my Instagram page so that my thousands of followers will see their picture and hopefully follow them. I’ve posted for a few people in the past and earned some income from it but I don’t try to market for their business. Normally, they randomly message me first out of curiosity and I’ve accepted if I think it will be beneficial to my followers.

Income Report

  • Golf Practice Guide Store Sales – $1,322
  • Amazon Kindle eBooks – $129
  • U30 Wealth Store Sales – $0
  • Affiliate Income – $21 (Amazon & ConvertKit)
  • Instagram Paid Ads – $25

Total Income for July – $1,497

Past Months Income:

  • June – $1,836.47
  • May – $946.00
  • April – $1,352.46
  • March – $667.42
  • February – $533.79
  • January – $388.02

I’ve been publishing budget and income reports since October of 2015 on Under 30 Wealth if you click that link and check them out! U30 Wealth is my personal finance website where I share tips and lessons on how to grow your income, save money, invest, budget, and everything important to your financial health.

Overall this wraps up my first monthly review of running an online business! AskNickFoy.com was founded to serve this very purpose – share tips, case studies, and strategies for building a profitable online business. You’ve just seen a snapshot of the different websites I have and how I’ll be growing them over the next several years.

I’ll be documenting all of my progress on AskNickFoy so you can see everything I’m doing openly and it will serve to motivate me to keep pushing towards success. Most importantly, I want it to help you with building your business.

You’ll learn what works and what doesn’t and save yourself the headaches that I endure testing these things out. It should help you take short cuts and see much faster growth than me, since I’m acting as the test dummy and discovering what not to do!

If you’ve enjoyed this review, leave me a comment on my Facebook page here. It will take you 5 seconds! Thanks so much for your support and being apart of the AskNickFoy community.

Be great,

Nick Foy

 

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By | 2017-03-19T17:46:07+00:00 August 1st, 2016|Blog Posts, Monthly Income Reports, Nick's Case Studies|Comments Off on Building an Online Business – July Review

About the Author:

Nick Foy created AskNickFoy.com as the go to resource for entrepreneurs to learn how to start an online business or take an existing business online. Nick teaches online courses and workshops for bloggers and entrepreneurs showing them how to build a successful website, grow an audience, and monetize it, bringing in monthly passive income. Subscribe to our newsletter to stay up to date with the latest buzz and check out our Facebook Group to join the fun and network with other bloggers. It's good to have you here (:
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