My Side Business Is Now Profitable!

I’m excited to announce that as of about a week ago, our blog carnival submission service is profitable! It took just over 2 months to break even. That includes the free trials, but I’m very proud to finally be in the black.

What We’re Doing Right

The feedback we’ve gotten from our users has been very positive. We’re providing users with what we promised and while there is no normal week, we’re getting a significant number of backlinks for users. Especially for newer bloggers, we’re able to provide a ton of value at a great price.

Our best decision has been to request an automatic payment subscription for users. This eliminates the time it takes each month to run the business. I’m still in touch with each users every week, so it’s not like they’ll automatically renew without realizing it. It just saves the hassle and there is one less thing for me to worry about. And there’s no chasing after people for money!

Why Breaking Even In 2 Months Isn’t THAT Impressive

That may sound like we broke even a little bit too quickly, but there are a few things to note. First, we are not a big business and didn’t have such a huge initial commitment that breaking even is that impressive. It’s great, but it’s not like we’re raking in the cash.

I’m not going to give specific numbers, but the amount we’re bringing in each month right now is spending money but does not make a big dent in our finances. Hopefully it will move the needle a little and help us get closer to our goal of saving half our take-home income. However, right now, it won’t help us get to the $10,000 side business income goal I was hoping to for this year. Maybe if we’re able to expand this significantly, it will be a crucial part of hitting that goal for next year, but for now, we’re very much a work in progress.

Where We Go From Here

I’m very happy to be profitable, because I know that from here on out, everything we bring in is profit. That’s great!

Still, we are going through some growing pains. We’re doing more manual work than I’d like, so while it’s not taking too much time, I’d like to have things automated a bit more. Each week, I’m finding tweaks to speed the process up just a little bit, so that’s good news. Still, while the money comes in each month and I probably don’t have anything better to do with my time, the less time I spent on the manual side of things, the more time I can spend trying to expand and finding new clients, or possibly finding another small side business to boost that side income.

9 Responses to My Side Business Is Now Profitable!

  1. FI Pilgrim says:

    It’s been worth it from my standpoint so far, you’re doing a great job!

  2. Good work. While the overall bottom line numbers may not be huge, the quick turnaround to acheive your break even point definitely should give you motivation to continue growing, marketing, and evolving new service opportunities.

  3. moneystepper says:

    Such a quick break-even point gives you such an amount of freedom to continue the business profitably safe in the knowledge that you have already returned your investment!

  4. I noticed Captchas showing up on some of the carnival submission sites. Has that put a crimp in the plans?

    • It definitely doesn’t make things more automatic! I don’t want to get into the details, but there was a more annoying feature removed, so in all, it’s actually faster to submit now. This is actually the lesser of evils, but clearly not having captcha would help reduce at least 50% of the time that currently goes into it.

  5. Congrats! Just remember… you have to break even before you can turn a big profit :) Even though there wasn’t a big initial investment, it’s still a nice accomplishment to breakeven so quickly, and shows that the idea is financially viable, which can be half the battle. Hopefully you will have many more successes!

  6. charles@gettingarichlife.com says:

    Hey Daniel,
    Congratulations on the service. I do tell you that I see the value in it, but since I have no revenue its an added expense. I will keep it in mind.

    • It’s actually been working really well for newer bloggers and those who are looking for recognition (and inbound links). Hopefully you’ll have a need for it soon!

  7. Alexa says:

    Congrats on breaking even! And, I think that you’re doing an excellent job! I am very pleased. I am sure your side business will continue to grow!

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