May 2017 Results – $17k in Sales and $4k in Profit
May saw a dip in sales from last month which was over $20k. I had several products go out of stock and I’m waiting for the new stock to arrive. I also had 2 new products launch this month which are both selling well so far and took some huge expenses last month to get them shipped to the Amazon warehouses (roughly $2k in one time expenses last month).
With the one time expenses out of the way I was able to clear just over $4,000 in profit this month. Not too bad! I spent roughly 8 hours on my side hustle this month for a crazy $500 per hour rate! Here’s what my sales/profit numbers look like (screenshot from my Fetcher account):
Plans for June
While I technically had a nice profit in May, I’m planning to reinvest this money into launching new products. I’ve been setting aside $1,000 per month as ‘profit’ which means I can spend it on stuff or invest it in my retirement accounts. Basically it’s my money, not the business’. The remaining profit is what I will use to continue to build and grow the business. I’m also looking at acquiring some websites to create more passive income.
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