{"id":8527,"date":"2016-10-25T10:05:17","date_gmt":"2016-10-25T10:05:17","guid":{"rendered":"https:\/\/www.themodestman.com\/?p=8527"},"modified":"2023-05-24T17:36:02","modified_gmt":"2023-05-24T17:36:02","slug":"income-report-q3-2016","status":"publish","type":"post","link":"https:\/\/brockmcgoff.com\/income-report-q3-2016\/","title":{"rendered":"Income Report: Q3 2016"},"content":{"rendered":"<p>Summer is officially over, which means most of us menswear enthusiasts are very excited. We can wear&nbsp;pants without overheating and, even better, <em>multiple layers<\/em>.<\/p>\n<p>The end of summer also marks the end of the third quarter of this year, which means it&#8217;s time for another <a href=\"https:\/\/www.themodestman.com\/income-reports\/\" target=\"_blank\" rel=\"noopener\" data-lasso-id=\"2676\">blogging income report<\/a>.<\/p>\n<p><!--more--><\/p>\n<p><a href=\"https:\/\/brockmcgoff.com\/wp-content\/uploads\/2023\/04\/Q3-2016-Income-Report.png\" data-lasso-id=\"2677\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-8532\" src=\"https:\/\/brockmcgoff.com\/wp-content\/uploads\/2023\/04\/Q3-2016-Income-Report.png\" alt=\"Q3 2016 Income Report\" width=\"620\" height=\"400\"><\/a><\/p>\n<p>If you&#8217;re new to these posts, you might be confused right now. Why&nbsp;are you reading an income report on a style blog?<\/p>\n<p>It&#8217;s a good question. Here&#8217;s the deal:<\/p>\n<p>Every quarter, I pull back the curtain to show you exactly how The Modest Man makes money. I do this for a few reasons:<\/p>\n<ul>\n<li>I like being totally transparent.<\/li>\n<li>Online business is fascinating.<\/li>\n<li>Many people are curious about how bloggers earn a living.<\/li>\n<li>To inspire others to start their own businesses.<\/li>\n<\/ul>\n<p>If you&#8217;ve never read an income report, I recommend starting with this post:<\/p>\n<p><a href=\"https:\/\/www.themodestman.com\/how-this-blog-makes-money\/\" target=\"_blank\" rel=\"noopener\" data-lasso-id=\"2678\">How Does The Modest Man Make Money?<\/a> (opens in new tab)<\/p>\n<p>What follows is a breakdown of revenue, expenses and profit for Q3 2016.<\/p>\n<h3>TMM Revenue for Q2 2016<\/h3>\n<p>Let&#8217;s start with the big picture &#8211; quarterly revenue for the pasts seven quarters:<\/p>\n<p><a href=\"https:\/\/brockmcgoff.com\/wp-content\/uploads\/2023\/04\/TMM-Quarterly-Revenue-by-Type.jpg\" data-lasso-id=\"2679\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-8534\" src=\"https:\/\/brockmcgoff.com\/wp-content\/uploads\/2023\/04\/TMM-Quarterly-Revenue-by-Type.jpg\" alt=\"TMM quarterly revenue chart\" width=\"620\" height=\"392\"><\/a><\/p>\n<p>Revenue from this website can be broken down into three general categories:<\/p>\n<ol>\n<li>Advertising\/sponsorships<\/li>\n<li>Affiliate commissions<\/li>\n<li>Selling products<\/li>\n<\/ol>\n<p>Let&#8217;s see how each one did this quarter (note: some links below are affiliate links).<\/p>\n<p><strong>Advertising &#8211;<\/strong> $14,372 (<span style=\"color: #339966;\">up 11% from previous quarter<\/span>)<\/p>\n<ul>\n<li>Direct Ads &#8211; $2,400<\/li>\n<li><a href=\"https:\/\/www.google.com\/adsense\/start\/\" target=\"_blank\" rel=\"noopener\" data-lasso-id=\"2680\">Google AdSense<\/a> &#8211; $449<\/li>\n<li><a href=\"http:\/\/www.adthrive.com\/\" target=\"_blank\" rel=\"noopener\" data-lasso-id=\"2681\">AdThrive<\/a> &#8211; $2,307<\/li>\n<li>Sponsored &#8211; $9,216<\/li>\n<\/ul>\n<p>Advertising, which includes sponsorships, is still the biggest&nbsp;source of revenue for TMM. I expect it to grow even more in Q4 due to the holiday season.<\/p>\n<p>Revenue from sponsorships continues to grow for a couple of reasons:<\/p>\n<ol>\n<li>TMM continues to get more traffic and subscribers each month.<\/li>\n<li>Sponsors are increasingly interested in video (in addition to blog posts).<\/li>\n<\/ol>\n<p>Most of the traffic to this site is organic (i.e., from people using search engines). The great thing about organic traffic is that it tends to increase, assuming you&#8217;re producing high quality content on a regular basis.<\/p>\n<figure id=\"attachment_8536\" aria-describedby=\"caption-attachment-8536\" style=\"width: 1192px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/brockmcgoff.com\/wp-content\/uploads\/2023\/04\/Monthly-organic-visits.jpg\" target=\"_blank\" rel=\"noopener\" data-lasso-id=\"2682\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-8536 size-full\" src=\"https:\/\/brockmcgoff.com\/wp-content\/uploads\/2023\/04\/Monthly-organic-visits.jpg\" alt=\"TMM monthly organic sessions\" width=\"1192\" height=\"234\"><\/a><figcaption id=\"caption-attachment-8536\" class=\"wp-caption-text\">Monthly organic visits&nbsp;since late 2013<\/figcaption><\/figure>\n<p>Even though <a href=\"https:\/\/www.youtube.com\/channel\/UClbfoD1o7sV0VxErpxTCpyw\" target=\"_blank\" rel=\"noopener\" data-lasso-id=\"2683\">The Modest Man YouTube channel<\/a> is still in its infancy, many sponsors ask for a video to go along with their blog post. Since producing a video takes a lot of work, I charge a little more for this package.<\/p>\n<p><strong>Affiliate &#8211;<\/strong>&nbsp;$8,114 (<span style=\"color: #339966;\">up 81% from previous quarter<\/span>)<\/p>\n<ul>\n<li><a href=\"https:\/\/www.rewardstyle.com\/\" target=\"_blank\" rel=\"noopener\" data-lasso-id=\"2684\">RewardStyle<\/a> &#8211; $1,266<\/li>\n<li><a href=\"http:\/\/www.amazon.com\/?_encoding=UTF8&amp;camp=1789&amp;creative=390957&amp;linkCode=ur2&amp;tag=themodestman-20&amp;linkId=OCG3YRBVSZ7QVEQT\" target=\"_self\" data-lasso-id=\"2685\" data-lasso-name=\"\" rel=\"noopener\">Amazon<\/a> &#8211; $5,161<\/li>\n<li><a href=\"https:\/\/www.themodestman.com\/modern-tailor\/\" target=\"_self\" data-lasso-id=\"2686\" data-lasso-name=\"Modern Tailor\" rel=\"noopener\">Modern Tailor<\/a> &#8211; $888<\/li>\n<li><a href=\"https:\/\/huckberry.com\/\" target=\"_blank\" rel=\"nofollow noopener\" data-lasso-id=\"2687\">Huckberry<\/a> &#8211; $248<\/li>\n<li>Other &#8211; $408 (mostly <a href=\"https:\/\/www.themodestman.com\/warby-parker\/\" target=\"_blank\" data-lasso-id=\"2688\" data-lasso-name=\"Warby Parker\" rel=\"nofollow sponsored noopener\">Warby Parker<\/a> and&nbsp;<a href=\"https:\/\/www.themodestman.com\/saddleback\/\" target=\"_self\" data-lasso-id=\"2689\" data-lasso-name=\"Saddleback Leather\" rel=\"noopener\">Saddleback<\/a>)<\/li>\n<\/ul>\n<p>The big increase here was Amazon. Revenue from Amazon Associates (their affiliate program) more than doubled this quarter.<\/p>\n<p>Amazon&#8217;s inventory continues to expand, especially when it comes to men&#8217;s fashion. So, naturally, I end up linking to them more and more.<\/p>\n<p>I think this is why revenue from their affiliate program continues to increase.<\/p>\n<p><strong>Products &#8211;<\/strong> $1,368 (<span style=\"color: #ff0000;\">down 64% from previous quarter<\/span>)<\/p>\n<ul>\n<li><a href=\"https:\/\/www.themodestman.com\/guide\/\" target=\"_blank\" rel=\"noopener\" data-lasso-id=\"2690\">The Modest Man Style Guide<\/a>&nbsp;&#8211; $1,368<\/li>\n<\/ul>\n<figure id=\"attachment_5488\" aria-describedby=\"caption-attachment-5488\" style=\"width: 227px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.themodestman.com\/guide\/\" target=\"_blank\" rel=\"noopener\" data-lasso-id=\"2691\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-5488 size-medium\" src=\"https:\/\/brockmcgoff.com\/wp-content\/uploads\/2023\/04\/3-227x300.png\" alt=\"The Modest Man Style Guide\" width=\"227\" height=\"300\"><\/a><figcaption id=\"caption-attachment-5488\" class=\"wp-caption-text\">The Modest Man Style Guide<\/figcaption><\/figure>\n<p>Revenue from products dropped in Q3 mostly because I only had one product to sell. The <a href=\"https:\/\/www.themodestman.com\/introducing-tmm-shirts\/\" target=\"_blank\" rel=\"noopener\" data-lasso-id=\"2692\">TMM button up shirts<\/a>&nbsp;sold out, so that project is over for the time being.<\/p>\n<p><a href=\"https:\/\/www.themodestman.com\/guide\/\" target=\"_blank\" rel=\"noopener\" data-lasso-id=\"2693\">Style Guide<\/a> sales were slow, especially in July (no idea why&#8230;), so I&#8217;ll have to figure out how to improve these numbers.<\/p>\n<p>I think it&#8217;s a great product, and I&nbsp;could probably do a better job promoting it. If you have any ideas or suggestions, let me know in the comments!<\/p>\n<p><strong>Total Revenue = $24,075 (<span style=\"color: #339966;\">up 11% from previous quarter<\/span>)<\/strong><\/p>\n<p>Keep in mind, this is <em>quarterly<\/em> revenue, not monthly. So it comes out to about $8,025 per month before taxes and expenses.<\/p>\n<p>Speaking of which,&nbsp;let&#8217;s look at all of the&nbsp;recurring and one-time expenses for Q3.<\/p>\n<p><strong>Recurring&nbsp;Expenses (paid monthly, totaled for the quarter)<\/strong><\/p>\n<ul>\n<li>Assistant &#8211; $720<\/li>\n<li><a href=\"https:\/\/www.themodestman.com\/convert-kit\/\" target=\"_self\" data-lasso-id=\"2694\" data-lasso-name=\"ConvertKit\" rel=\"noopener\">ConvertKit<\/a> \u2013 $447<\/li>\n<li>Phone \u2013 $330<\/li>\n<li><a href=\"https:\/\/www.themodestman.com\/leadpages\/\" target=\"_self\" data-lasso-id=\"2695\" data-lasso-name=\"LeadPages\" rel=\"noopener\">LeadPages<\/a> \u2013 $201<\/li>\n<li><a href=\"https:\/\/app.meetedgar.com\/\" target=\"_blank\" rel=\"noopener\" data-lasso-id=\"2696\">Edgar<\/a> \u2013 $147<\/li>\n<li>Internet \u2013 $120<\/li>\n<li><a href=\"http:\/\/www.adobe.com\/creativecloud.html\" target=\"_blank\" rel=\"noopener\" data-lasso-id=\"2697\">Adobe CC<\/a> &#8211; $63<\/li>\n<li><a href=\"https:\/\/www.themodestman.com\/bluehost\/\" target=\"_self\" data-lasso-id=\"2698\" data-lasso-name=\"Bluehost\" rel=\"noopener\">Bluehost<\/a> \u2013 $60<\/li>\n<li><a href=\"https:\/\/www.canva.com\/\" target=\"_blank\" rel=\"noopener\" data-lasso-id=\"2699\">Canva<\/a> &#8211; $39<\/li>\n<\/ul>\n<p><strong>One-Time Expenses<\/strong><\/p>\n<ul>\n<li>Travel &#8211; $566<\/li>\n<li><a href=\"https:\/\/www.amazon.com\/Rode-RodeLink-Wireless-Filmmaker-System\/dp\/B00TV90DX0\/ref=as_li_ss_tl?tag=themodestman-20\" target=\"_blank\" rel=\"nofollow noopener\" data-lasso-id=\"2700\">New mic<\/a>&nbsp;&#8211; $399<\/li>\n<li>PayPal Fees &#8211; $120<\/li>\n<li>Misc.&nbsp;supplies&nbsp;&#8211; $105<\/li>\n<li>Postage &#8211; $12<\/li>\n<\/ul>\n<p><strong>Total Expenses = $3,329<\/strong><\/p>\n<figure id=\"attachment_8539\" aria-describedby=\"caption-attachment-8539\" style=\"width: 300px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.amazon.com\/Rode-RodeLink-Wireless-Filmmaker-System\/dp\/B00TV90DX0?tag=themodestman-20\" target=\"_blank\" rel=\"noopener\" data-lasso-id=\"2701\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-8539 size-medium\" src=\"https:\/\/brockmcgoff.com\/wp-content\/uploads\/2023\/04\/RodeLink-wireless-lav-mic-300x300.jpg\" alt=\"RodeLink Wireless lav mic\" width=\"300\" height=\"300\"><\/a><figcaption id=\"caption-attachment-8539\" class=\"wp-caption-text\"><a href=\"https:\/\/www.amazon.com\/Rode-RodeLink-Wireless-Filmmaker-System\/dp\/B00TV90DX0\/ref=as_li_ss_tl?tag=themodestman-20\" target=\"_blank\" rel=\"nofollow noopener\" data-lasso-id=\"2702\">RodeLink Wireless System<\/a><\/figcaption><\/figure>\n<p>No huge or unexpected expenses in Q3, just the normal stuff &#8211; software, email, supplies, etc.<\/p>\n<p>I did buy one new piece of gear: the <a href=\"https:\/\/www.amazon.com\/Rode-RodeLink-Wireless-Filmmaker-System\/dp\/B00TV90DX0\/ref=as_li_ss_tl?tag=themodestman-20\" target=\"_blank\" rel=\"nofollow noopener\" data-lasso-id=\"2703\">RodeLink Wireless Filmmaker System<\/a>. It&#8217;s a wireless lav mic that&#8217;s easy to use and sounds much better than my old mic.<\/p>\n<p>I&#8217;m still tweaking the sound and trying to get rid of the echo in the room, but it&#8217;s getting there.<\/p>\n<p><strong>Profit = $20,746 (<span style=\"color: #339966;\">up 19% over previous quarter<\/span>)<\/strong><\/p>\n<p>This comes out to around $6,915 per month profit (before taxes). It&#8217;s enough for me to pay my living expenses, pay taxes and put some cash back into the business.<\/p>\n<p>The cool thing about this kind of business is that there&#8217;s really no limit to how much you can grow or what you can do.<\/p>\n<p>Want to create a product? Go for it! Start another website? Why not?<\/p>\n<p>The hard part is choosing what to focus on and delegating tasks so you actually have time to focus &#8211; something I&#8217;m not very good at.<\/p>\n<h3>Thank YOU!<\/h3>\n<p>None of this is possible without you.&nbsp;Thank you for your readership and support!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summer is officially over, which means most of us menswear enthusiasts are very excited. We can wear&nbsp;pants without overheating and, even better, multiple layers. The end of summer also marks the end of the third quarter of this year, which means it&#8217;s time for another blogging income report.<\/p>\n","protected":false},"author":1,"featured_media":10257,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"_links":{"self":[{"href":"https:\/\/brockmcgoff.com\/wp-json\/wp\/v2\/posts\/8527"}],"collection":[{"href":"https:\/\/brockmcgoff.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/brockmcgoff.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/brockmcgoff.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/brockmcgoff.com\/wp-json\/wp\/v2\/comments?post=8527"}],"version-history":[{"count":2,"href":"https:\/\/brockmcgoff.com\/wp-json\/wp\/v2\/posts\/8527\/revisions"}],"predecessor-version":[{"id":11868,"href":"https:\/\/brockmcgoff.com\/wp-json\/wp\/v2\/posts\/8527\/revisions\/11868"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/brockmcgoff.com\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/brockmcgoff.com\/wp-json\/wp\/v2\/media?parent=8527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/brockmcgoff.com\/wp-json\/wp\/v2\/categories?post=8527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/brockmcgoff.com\/wp-json\/wp\/v2\/tags?post=8527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}