Welcome to another episode of the Niche Pursuits podcast! Today Perrin and I are excited to bring you the income reports for the authority site and my amazon product.
We also discuss a pivot I am making in my business based on these numbers.
The details of these income reports can be found in this blog post from last week.
Here’s a quick rundown of what we discuss on the podcast today:
Last month our authority site brought in $912.70, mostly from Kindle books, and some Adsense revenue. We did grow from 625 to 1300 email subscribers which is excellent.
I've been selling products on Amazon since 2014.
Want to know the research tool I've been using since I've started (and still use today)? Get my latest tips and how to guide for using this tool.See the Full Jungle Scout Review
However, at this point we’re facing a bit of a reality check: we’re now 10 months in to this project, and the traffic is not growing like we had hoped.
Currently we’re spending $3,000-4,000 per month on content creation and marketing. Over the past several months we’ve spent $15,000-20,000 and only realized $7,000 revenue.
On the other hand, my Amazon product launched March 28 and saw revenues of $4,400 in the first 30 days. This started as a very casual side project, but we sold out of the first batch of 105 units in 40 days for an initial revenue of $6,000.
Looking forward we’re planning to increase profit margins through lower freight costs and lower price per unit due to economies of scale with our manufacturer.
The difference in momentum between these two projects is allowing for a pretty clear decision in our business focus. As of today we will be putting the authority site on hold and try to make it more passive. We will finish a book we have in the works, and continue to operate the site, but we won’t be putting many more resources into building it out.
At this point, we will be focusing almost entirely on growing the Amazon physical products business. This will allow us to scale this into what could be a very big business. I can see a portfolio of Amazon products doing millions of dollar per year (potentially).
To do this we will be creating a portfolio of products and creating a website for these products that we plan to grow. The same lessons we learned in building niche sites will continue to apply to these Amazon products and related sites: keyword research, content creation, and paid acquisition.
One important take away that Perrin and I have been thinking about is the importance of having your own products to scale a business. This is something I learned with LongTailPro, and continue to reinforce in my business now through Amazon FBA.
If you’re enjoying the show and would like to show your appreciation for the Niche Pursuits podcast in general, please leave a rating on iTunes right here.
As always, I would love to hear any feedback in the comment below. Thanks!