August 2011 Income Report

August ~$1600 / 2 = $800.45 + 747.55 = $1548 – 345.46 = $1202.54

ACP Business (I have 1 partner who owns 50% equity) – $1600 / 2

  • 8/31/11 – $250.00 – direct ad revenue
  • 8/31/11 – $72.25 – clickbank
  • 8/19/11 – $128.30 – affiliate sales
  • 8/17/11 – $62.57 – clickbank
  • 8/17/11 – $16 – affiliate sales
  • 8/4/11 – $492.25 – affiliate sales
  • 8/3/11 – $186.04 – clickbank
  • 8/3/11 – $34.00 – affiliate sales
  • 8/2/11 – $359.50 – affiliate sales
Honeyplex Business – $747.55 (I own 100% equity)
  • 8/31/11 – $155.21 – Ebook sales
  • 8/18/11 – $309.21 – Ebook sales
  • 8/3/11 – $283.13 – Ebook sales
Expenses: $345.46 – All my expenses related to the business
  • 8/28/11 – $59.13 elance work
  • 8/23/11 – $28.50 elance work
  • 8/16/11 – $20 – server hosting (faster server)
  • 8/14/11 – $44.94 – elance work
  • 8/2/11 – $46.03 – elance work
  • 8/2/11 – $193.80 aweber – 1 year prepaid
Lessons:
  1. Good business partners are hard to find as they are. Furthermore, you need to find someone who can put into the business the same effort as you do. If this criteria is not met, it can be the source of much frustration and arguments. Furthermore, you need to find someone who has a different skill set than you. Unless the partnership can add more value than the two combined, (more than 50% each), eventually one of the partners will start feeling like he or she can make more on their own. Therefore, find good partners and do it on a trial basis to begin with.
  2. Setup a bank account early and learn to funnel your money effectively into that channel. A good control on cashflow ensures business flexibility and fluidity.
  3. There were a lot more expenses now that I do not have a tech partner, which means I need to outsouce my work. I also signed up for a separate aweber account and that costs a lot because it was prepaid for 12 months.
  4. Overall though, the expenses are far less than the total 50% cost of the equity ownership in the previous agreement.

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