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My January 2016 Monthly Income ReportI’ve been off to an aggressive start this year, mostly because I have a lot of goals that I’m looking to achieve.

The way I see it, the sooner I can cross some of the bigger items off of my list, the sooner I can get back to making some music.

This doesn’t necessarily mean that I can’t start recording now, but with a new book to promote, and other commitments to fulfill, I would prefer to be able to give the focus and attention it deserves rather than rushing into it.

That makes the most sense to me, at least from a rational perspective.

Regardless, let’s get into this month’s report.

Income Breakdown

Make sure to check out my first income report for a more detailed explanation of what these numbers mean. The short version is that I’ve only included my music-related income here, and that it tends to fluctuate from month to month. Additionally, the numbers are represented in Canadian dollars.

The New Music Industry: Adapting, Growing, and Thriving in The Information Age $20.00 (physical sale – that’s right, paperback copies can now be purchased through Amazon and through me, personally)

Freelance Blogging – $861.60

Freelance Web Design – $120.00

Live Performance – $53.00

Music Instruction – $525.00

Total – $1,579.60

Expense Breakdown

Hoosuite – $14.95

Dropbox – $10.99

Adobe Creative Cloud Photography Plan – $15.17

SweetProcess – $42.09

HitTail – $14.59 (I don’t think I get enough traffic for this to be worthwhile, and I also feel like I have enough data to know what kind of content is working for this site – time to cut this service out, at least for the time being)

Google AdWords – $76.13 (I have not been finding Google ads to be terribly effective – I think it would be better to put money towards Facebook ads)

Microsoft Bing Ads – $36.03 (ditto)

LawDepot.com – $34.65 (for drawing up a consultant contract)

Createspace – $33.22 (for proofing physical copies of my book)

Total – $277.82

Net Income

$1,579.60 (gross income) – $277.82 = $1,301.78 (net income)

Final Thoughts

Like I was saying last time, I knew that I wanted to tighten things up a bit expense wise. I’ve made some progress in this regard, but I still have a couple of services to cancel.

So far, advertising hasn’t been the most effective method of promotion for my blog posts or products I’ve created, and this isn’t surprising for a couple of reasons:

  1. I’m not the best copywriter in the world.
  2. I’m not convinced that musicians respond that well to advertising, unless it’s a soft pitch.

But that’s okay since content marketing, though time-consuming, has turned out to be the best source of traffic, especially long term.

It’s exciting to be finally selling physical copies of my book, though you’re not seeing that reflected in this report since I was still getting everything sorted out design wise in January.

I also feel like I’m finally getting my revenue models sorted out. You may not immediately see the results reflected in my income reports, but that will happen in good time.

David Andrew Wiebe

Founder & CEO at The Music Entrepreneur HQ
Musician, serial entrepreneur, digital nomad and bestselling author. Wiebe has built an extensive career in songwriting, live performance, recording, production work, session playing and music instruction. He helps musicians like you unlock your full potential. If you'd like to be notified whenever the blog is updated, click here to subscribe.
David Andrew Wiebe

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