What’s up everyone! Glad you stopped by to check out the April 2017 release of my side hustle progress. Let’s get right to it. First I’ll show you the numbers, then we’ll cover the details:
Overall, I went positive two months in a row on my side hustles. Not bad!
I’m trying out a new table reporting format. You’ll notice that I’m now tracking hours for all hustles. I think it’s important to keep track of time spent on hustling because time is finite, and I want to maximize the outcome from every hour I spend hustling.
Applying the 80/20 rule, I’d like to find and focus on the 20% of effort that produces 80% of my results.
“If you measure, it will improve.” Over time, I expect that my total hours on each activity will decrease as my total earnings climb.
April Earnings: $773.56 (+28.6%)
Hours: 30 (+30.4%)
Last Month’s Goal: [MET] Log over 50 hours of tutoring by the end of April so that I can keep 70% of the lesson earnings.
Total hours hit 53 in April, so I’m now able to keep 70% of my hourly earnings. When I started, I was at 60%, so this is pretty cool. My rate does vary based on the type of tutoring I’m doing, and how much a student books my time. I averaged about $40/hour over 30 hours. Next month, I’d like to work less, but increase my overall earnings.
Next Month Goal: Log 25 hours @ an average of $46/hour.
April Earnings: -($348.00) (-137.7%)
Hours: 35 (-31.4%)
Last Month’s Goals: [MET] Automate the sharing of posts as well as some of my interactions on twitter. [DID NOT MEET] Create free content to offer you guys (other than posts).
I did spend considerably less time on the blog last month because I went on vacation and away for a work conference. I also configured Revive Old Post to begin sharing some of my posts each day. This contributed to 30% of my 323 sessions, but I backed the schedule off because the tweets didn’t feel authentic.
I didn’t create any free content for you guys last month, though I worked on some ideas! I spoke with a PF blogging rockstar recently, and he gave me some different advice so I’ll be postponing this goal for a month at least.
I paid for some tools to support blogging. I’ve been willing to spend money here because I have another hustle that’s making some money. Otherwise, I probably wouldn’t have spent the cash. I’m not too worried about generating much income from the blog, but it would be nice to break even. At this point, the blog is at -$494.41. Still loving it, and excited to share more with you guys! Aww… Don’t worry about me! Remember, I’m debt free, and I didn’t get here by being irresponsible or not understanding the math behind my actions.
Next Month Goal: Write six posts. Make one of them a guest post (wanna work with me?). Make one about my debt-payoff journey. Create a My Story page.
April Earnings: -$19.15
Last Month’s Goal: [MET] Come up with at least three methods of finding new clients, and take action on one method.
I registered a domain name and stood up a website for my little consulting business. I have a concept I think will work, so I’d like to have an online presence that I can attempt to drive local traffic via web search. We’ll see how that works out! I ended up getting a call from one of my clients (in May) so I’ll be posting some earnings next month.
Next Month Goal: Finish the website. Ask a current client for referrals. Get rejected five times by potential clients.
What About You?
What’s your best side hustle? How is it going? Consider setting some SMART goals for it. Also consider taking measurements each month to see how you’re really performing. You can’t argue with the data.