Justin Cooke

May 13, 2013

Welcome to our April 2013 monthly business and income report!

While our last report was a quarterly report (focusing on Jan – Mar details) your overwhelming requests to go back to a monthly schedule have us back to reporting monthly status updates. :-)

We love hearing about how much these reports inspire and encourage you to continue to build and grow your own online empire.  That’s part of the reason we openly share this information with you, but there’s also value for us brought about with the introspection that comes with writing these reports.

Having to take an open and honest look at our strengths, weaknesses, and growth opportunities (along with the feedback you deliver) provides us insights into our business we wouldn’t have otherwise.  It gives us an opportunity to look at our business from the outside in, and (I hope) leads us to make better-informed decisions about the direction our company should take

Most of this revenue comes from you.

Whether you’re a long-standing outsourcing client of ours or you happened to use one of our affiliate links to buy a piece of software, we wanted to thank you for your continued support as we continue to expand our online empire.

Alright…let’s dig into the details!

Lessons Learned

I should start off this report with an admission – I’m significantly less confident with the numbers this month than I have been in the past.  Every month I’ve used a combination of digging through emails, logging into affiliate platforms and accounts, Quickbooks, etc. and I’ve verified those numbers by checking our bank accounts and Paypal.  Some changes to our classifications and a bazillion micro-payments in our Paypal account this month have made some of that verification virtually impossible.  All of the income streams have been verified and, if anything, are under-reported. (Except for IntelliTheme…I think we’ve had $1K-ish in refunds that I’ve not accounted for)

The lesson learned here is that, as our business continues to mature and we add additional revenue streams, tracking these numbers as I’ve done previously is unsustainable.  I’m working with our bookkeeper that will take the reporting aspect involved here off my plate and give me a nice, easy-to-digest report each month from which I can run the numbers.  We get reports now, but they’re not how I need them and typically 1.5 – 2 months behind.

“We’re getting to the point where having a better understanding of detailed business analytics could have a real impact on our bottom line”

One last thing regarding numbers – we’re getting to the point where having a better understanding of detailed business analytics could have a real impact on our bottom line.  Most of our internal data right now revolves around overall cash-flow and project-based ROI numbers.  That’s actually preferable in the early stages of a company, I think. (Spending too much time/effort/energy on tracking can HURT growth efforts)  If we intend to grow at this point, though, we need to have a better grasp on the Lifetime Value (LTV) of our customers and need to understand the entry points for customers so that we can better focus our marketing efforts, etc.  My guess is that we’d get more out of customer development than new customer outreach, but it’s going to take some testing to validate that assumption.

What We’re Working On

April was a pretty big month for us in terms of getting some new projects shipped.  With the re-launch of IntelliTheme, our guest posts on Flippa, and pushing out a weekly podcast, we’ve been pretty busy!  While we’ve got some great content coming out through the blog and the podcast in coming weeks, much of our efforts in May/June will be internal.  We’re carrying over a few of the projects mentioned in the last income report, but we’re also working on:

  • Data And Systems Migration:  Moving all of our data and customer records from disparate systems like email, AWeber and our vTiger CRM into Office Autopilot is going to be quite the job and a bit complicated.  In addition to migrating the data, we’re also looking to clean up our records by deleting duplicates, adding appropriate tags, automating some of the emails and tasks, etc.  After setting it up and migrating the data, it’s also critical that we have a smooth adoption process with our team.  We’ll have to train our agents on the new process with the new system and ensure it’s all running smoothly.
  • New Products:  I had a chat with our Intern (Erik) the other day regarding Customer Support staff.  Most of our support packages are $3K+ per month which puts us out of the price range for many eCommerce shops, early-stage entrepreneurs, etc.  We have our own internal support team right now that are working out extremely well with Zendesk and they have some extra hours available.  The plan is to offer Zendesk support on a per-ticket basis…allowing entrepreneurs to use up their pre-purchases support tickets as they come in.  This will allow us to offer support to a much broader audience – We should have this out by the end of May.  We’re also looking at a content editing/syndication service, but we’re still working out the details. :-)
  • Adding Staff:  There have been a few speedbumps with us bringing on a new Hiring Manager, but we’re looking to have most of those sorted by the end of the month.  Some of our teams are at capacity and with new projects, products, and potential outsourcing clients coming up we really need additional team members in the coming weeks/months.  We’re looking to bring on additional support, content, and technical staff to cover our expected growth.  We probably won’t fully utilize the additional staff for a couple of months, but if we don’t get them onboard and ready to go today we won’t be where we need to be in Q3/Q4 of this year.

These are definitely a few of the less exciting aspects of our business, but critical to our continued development and our longer-term goals.

Site Traffic

We had a total of 20,053 visits to EmpireFlippers.com in April:

Empire Flippers Traffic April 2013

That’s an improvement from our 51.5K visits in the first quarter.  Here’s a look at our most popular content in April:

Empire Flippers Content April 2013

It’s helpful to see that our most popular content on the site includes our “paid” pages like the marketplace, products and services, etc…but I worry this highlights a bigger problem – it’s not very easy to find some of our best content.  I think having our Get Started page is helpful for those new to the brand, but I’d like to make it a bit easier for people to quickly/easily find some of our older content for reference.

Here’s a look at our top referral sources for the month:

Top Referrals April 2013

It’s pretty surprising to see Facebook at the top of the list, considering we don’t actually do much promotion there.  There are less “new” visitors finding us through Facebook, so it’s mostly people familiar with our brand that are likely seeing and sharing our posts.  It’s funny…I probably spend 3x more effort on Twitter, but it’s only produced about 60% of the traffic we received from Facebook.  Interesting…

I’ve been doing regular guests post at Flippa which has been great for outreach and exposure for us.  One of the posts about life as an expat entrepreneur was extremely popular and several people I’ve spoken with recently told me that was the post that introduced them to Empire Flippers. (Sweet!) You can check out all of the guests posts here.

Podcast & Email Audience

We saw another increase in podcast downloads in April and we finally crossed the 200K downloads mark!

Podcast Downloads April 2013

The podcast audio quality has been better in recent weeks and we’ve had some positive feedback about the improvements.  We’re currently running an iTunes review bribe giveaway where we’ll randomly select an iTunes podcast review given in May and offer a free niche site to the winner!  (US, UK, and Australia only) Click here to add your own!

We’ve been doing more interviews on the show in recent weeks which is great for us – we get to ask questions of people we like/respect and get some insights into how they’re growing their empires.

I thought it might be interesting to share our email list or contacts here as well:

Contact Records April 2013

We have a total of 10,078 emails or contact records associated with our current business.  (Those I’ve blacked out are related to niche sites or unrelated projects)  The problem is that MANY of these emails are duplicates…people that have signed up to more than one list.  We’ll be importing all of these records to Office Autopilot in the near future where we can run dup-checks and generally clean up our lists a bit.

Monetized Sites

Here’s a snapshot of our AdSense earnings in April:

AdSense Earnings April 2013

Our best day was April 17th at $76.31 and our worst day was April 11th at $40.69.  We’re starting to see some earnings from the sites created earlier this year pop-up and have sold a few through the Marketplace and through our Empire Starter Packs.  We lose a bit of revenue with sites that are “losers” and we don’t renew the domains, but they weren’t valuable enough to sell or for us to do anything with anyway.  I still question the fact that we’re losing/dumping the content from those sites.  Finding something else to do with that content would be nice, but not a priority at this point.

Selling Our Sites

We didn’t sell as many of our own sites as I’d thought in April, bringing in only $2,991.20. as compared to $12,622.00 the previous month. This was mainly due to still not having enough sites available and ready for sale yet.  We’re expecting this to pop up a bit in May and (hopefully) we’ll have many of the sites we created earlier this year available for sale in June.

Products & Services

“It was great to see around half of those sales coming from repeat buyers that were happy with their previous purchase”

We had another good month of products sold, representing $4,554 in total revenue.  It was great to see around half of those sales coming from repeat buyers that were (presumably) happy with their previous purchase.  We’d love to build and create products and services that provide recurring income and we’re on our way with some of our current offers.

We’ve noticed that with our top seller, Empire Starter Packs, many of the buyers already have a copy of Long Tail Pro, IntelliTheme, or their own hosting account.  They’re buying the package because of the niche sites that come with the Pro/Premium product.  Because of this, we’ve decided to offer the following:

  • Own a copy of Long Tail Pro? – We’ll replace that with a $3-4/month niche site.
  • Own a copy of IntelliTheme? – We’ll replace with a $3-$4/month niche site.
  • Own a hosting account? – We’ll replace with a $3-$4/month niche site.

Just include a message on the order form after purchase and we’ll be happy to replace any/all of the above for you.

Brokered Sites

“I still feel brokering sites is the right move and supports the goals of our clients and our business”

We sold a total of $16,505.60 worth of brokered sites, which comes out to $2,475.84 in revenue for us.  This is great news, but we’re still struggling to sell sites over the $10K mark.  I know that some ARE looking for sites in the $10K – $100K range as I’ve spoken to a few of them, but it seems that buyers at this level are fairly specific in terms of the monetization they’re looking for, the niches they’re looking to get into, etc.  I think it’s just going to take some persistence, time, and experience to break into this side of the market.

The feedback we’ve had from both the buyers and sellers has been quite positive, telling us we’re definitely heading in the right direction here and that we’re supporting the community.  It’s not as profitable as I’d like it to be for the amount of work we put in, but I still feel brokering sites is the right move and supports the goals of our clients and our business.

IntelliTheme

April was a breakout month for IntelliTheme.  As mentioned in our product launch case study, we were able to bring in nearly $50K in the week-long re-launch and finished out the month at a total of $52, 524.92 in total sales.  Still…less than half of that revenue actually went to us, so we’re putting our total for the month on IntelliTheme at $17,091.32.  It’s taking us a bit longer to wrap-up the testing for version 2.0, but we’re expecting to release the new features and functionality to everyone by the end of May.

Affiliate Income

We brought in a total of $981.49 through affiliate purchases, $190.37 of which came through Kindle purchases of our guide, Building A Niche Site Empire.  Most of the affiliate purchases were of Long Tail Pro or content orders through HireWriters.com.

Outsourcing Clients

“This is a growth area we do plan on expanding through 2013”

The outsourcing side of our business generated $25,360.00 in April…a nice bounce back from the $11K in March.  We were able to collect on a couple of outstanding invoices and one of our clients paid twice this month.  Our Intern has taken on the role of pre-qualifying potential clients and will be taking on an Account Management role with any new deals brought in on this side of the house.

While these deals have much more long-term profit and potential for us, they’re also much harder to land.  We have some fairly specific roles we fill for customers and it has to be an awfully good fit for us to take on a new deal.  We’re hoping that taking a productized service approach will help us target a new market and bring more potential outsourcing deals through the door.  This is a growth area we do plan on expanding through 2013.

Consulting

We don’t do much to promote our consulting offers, but we we did get an email request and a 6-hour consulting gig paid this month (Our first 6-hour consulting package), bringing in a total of $1,260.00.  We had a kick-off call last week with the new client (Hi, Jennifer!) and we’ll start the training this week. (2 hours per week for 3 weeks)  The general idea is to walk her through the entire process of building niche sites, start to finish.  Both Joe and I will be on most of the calls and will be building sites right along with her.  The plan is to completely over-deliver and get her up and running…building profitable websites.

Summary

We’re pretty happy with how April turned out overall and we’re looking forward to another solid month in May.  Most of our “work” through May/June will be internal as we focus on migration, process overhauls, and personnel.  Here’s the detailed breakdown:

Business Data:

  • Employees: 33
  • Interns: 1 (Erik)
  • Contractors: 3
  • Site Visits: 20,053
  • Emails / Contact Records: 10,078

Earnings:

  • AdSense: $1,756.19
  • Site Sales: $2,991.20
  • Products/Services: $4,554.00
  • Brokered Sites: $2,475.84
  • IntelliTheme: $17,091.32
  • Affiliate: $981.49
  • Outsourcing: $25,360.00
  • Consulting: $1,260.00

Total For April: $56,470.04

So…what do you think about our plan to focus on internal improvements over the next few months?  What would YOU focus on if you were in our shoes?  What did you learn here that you might be able to apply to your online empire?  Let us know in the comments…we’re looking forward to hearing from you!


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Discussion
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  1. Great income report Just found your site and will need to check it out as I am trying to increase my income. I mostly freelance right now.

  2. Don Shelton says:

    Superb detail guys, as usual. A couple of questions:

    1) On the starter packs, I have all three – hosting, Intellitheme and LTP (and yes, you all got the affiliate on that), so are we talking a $3-$4 site for each one of those? :)

    2) On the Adsense income; I know these are the still developing sites, and sites that just aren’t kicking it enough to sell for the most part, but to understand better what we’re looking at, can you tell us how many sites it took to earn the $1,756.19?

    As always, much appreciated!

    • Justin Cooke says:

      Hey Don – Thanks man!

      1 – That’s correct. If you own all three and don’t want any of those, you’ll get niche sites making $19-$24 or so per month total.

      2 – We still have a couple thousand sites today. The large majority of those sites are no-low earners right now. We stopped building sites for a few months in 2012/2013 and only started up again a couple of months ago. We’re JUST now starting to see some of the sites we created this year popping up in the rankings, earning, etc.

      Typically – The sites we create earn $8 – $10/month each on average. This is a bit misleading though…it’s not nearly that clean cut. We have sites that earn $200 – $300 per month, but many more that are in the $2-5/month range. About 30% of the sites we create produce 70% of the income.

      The “winners” are where the money’s at…and we have very few of those available right now…they’ve all been sold off, mostly. We’ve REALLY tried to analyze our niche selection to see if we could get BETTER at picking the winners – that would seriously improve our margins. Unfortunately, we couldn’t find anything that could definitively improve our selection. :-(

      • Don Shelton says:

        Thanks, Justin for all the additional details. 30% producting 70% is pretty close to Pareto’s 80/20 law. In my much smaller and newer portfolio I’m seeing similar ratios. It’s a little encouraging for some of us to see that you produce more sites in the $8-$10 range than higher ranges; makes our $10/mo sites feel less like marginal near failures if we understand that’s where a lot are at, and that’s still making money – slowly. I agree it’s hard to determine tells for what makes a winner. Quality content, good keywords, good SERP results, good on and off-page SEO, etc. we know are all factors, but a site with all those may do nothing and a site that isn’t the best at all those may still make money. When I figure it all out, I’ll be sure to let you know.

  3. Helene says:

    Appreciate your time and effort in putting out such a comprehensive report. Thanks, guys, as a newbie I find this information incredibly helpful in getting an overall picture of a growing business in process. You have given ma a lot to reflect on. Particularly like your idea (link) of having a Get Started Here page. Thanks and I look forward to your next report.

    • Justin Cooke says:

      Thanks, Helene!

      Get Started pages are great when you start to have a bit of content and some of it’s hard to find. It’s also an opportunity to highlight some of your “best” work and put your best foot forward, I think.

      Check out our interview with Andy where we talk about the redesign, the Get Started page and its value, etc. We also have a link/download here where you can check out (for free) the report he provided us:
      http://empireflippers.com/efp-42-conversion-strategies-that-work/

  4. Janet says:

    Great job guys!! I just found you guys on youtube today and I am very excited to read your guide.

    • Justin Cooke says:

      Thanks, Janet!

      You found us on YouTube, eh? Cool! We don’t hear from a ton of people that are introduced to us via YT.

      Was it a related video you clicked on or were you searching for something and we popped up?

  5. Wow! That’s some pretty impressive bank! Super jealous LOL.

    • Justin Cooke says:

      Thanks, Lisa!

      Interesting site you got there…did you build it this year? I’m WAY to impatient for coupons, but my Mother’s a fan, hehe.

  6. Dale says:

    Hmmm…your Adsense earnings is much lower than I expected to see. What of the Adsense earnings in January 2012 of $44K that month? Most of the down months of $10 to 12K?

    Adsense earnings of only $1700 for April? For how many sites?
    Not very encouraging as you guys are the experts at this and most of your revenue is not from Adsense.

    Is it really worth it to pursue the Adsense game based on your data here? Should it be $5-10K a month then I would say yes to pursue it, but less than 2K a month?

    • Justin Cooke says:

      Hey Dale,

      If you take a look, a large majority of our $44K in January 2012 was not from AdSense…it was from site sale and a particular $20K purchase from one buyer. In fact, (if memory serves me) I think the largest amount we’ve ever made in 1 month from AdSense alone was like $6-$7K. That’s never been a major part of our income. It’s considerably lower now because we stopped building sites in late 2012 through early 2013 and we’re low on inventory.

      I think maybe you were looking for a gotcha here that doesn’t exist.

      If you don’t think niche site building is for you, I would suggest not doing it. Weigh the risks, know that it’s a ton of hard work and either do it…or don’t.

      I’ve got a (related) blog post you might find interesting/useful:
      http://empireflippers.com/analysis-paralysis/

      • Dale says:

        Hey Justin…yes you are correct. My bad for assuming the income came all from Adsense. I never clicked the link within the ebook itself.

        The Building a Niche book is one of the best I have seen written…great work! $6-7K a month is nothing to snub up at. :-)

  7. Dave Starr says:

    I enjoy seeing the progress you are making … especially with organizing the business side. Many people just let thta go in the haste to cover the bills coming due and the eagerness to get the “next big thing” going … but if you don’t get the foundations laid properly, you’ll wind up with a really shaky house.

    Looking forward to more on the editing service … I might be a customer there, for sure. Great stuff, guys…

    • Justin Cooke says:

      Thanks, Dave!

      Yeah, I really think we need to do some internal housekeeping if we’re going to build the foundation allowing us to grow. There are quite a few gains we’re missing out on, I think, from being a bit disorganized…something we’re looking to fix shortly.

      We’ll probably have more on the editing service out by the end of the month! It will likely start off pretty basic…stuff we’re doing already.

  8. Tauno says:

    I didn’t know you were brokering sites. I wonder if there was any way to appraise my site.
    It’s got 664,000 pages indexed, last 30 days = 18,560 visitors and €56.05 (that’s EUR).
    I know both the ‘number of pages to visitors’ ratio and RPM suck, but hey, Google has only indexed 3% of my 20 million page website so far, since November 2012.

    Do you guys ever sell a growing site?

    • Justin Cooke says:

      Hey, Tauno!

      Today, your site would be worth right around 1.1K EUR (with us). 20 X the monthly revenue.

      You have 20M pages on the site and only 3% indexed? Sweet Lord, that’s a lot of content. That must be an auto-blog, eh? We only sell sites through our platform with unique content at this point.

      If your website is new and only has 3% of your pages indexed, I wouldn’t recommend selling right now anyway. Wouldn’t it be better to see how things play out over the next few months first?

      • Tauno says:

        1.1K EUR won’t really help me, so obviously I should stick to the site. Although 1K invested in Silver or Gold at today’s prices, with 1:10 leverage, could be worth $3K- $5K in a few months. The site has been growing at 40% rate each month (or doubling every 2 months). I don’t think, however, that this can be factored in the price when selling?

        • Justin Cooke says:

          Hey Tauno,

          If you’re growing at 40%, month after month…I don’t see why selling your site would be a good idea. Let the site stabilize/mature first…

          In fact…with a claim of 20M pages and no answer to whether the content was unique or how you’re acquiring it, your site probably wouldn’t pass the test to list on our marketplace anyway.

          Invest in Gold/Silver? Hmmm…good luck with that. Outside of our scope…

          • Tauno says:

            Justin, Regarding 20M pages, you have to think outside the box here. I am not ready to disclose it yet.
            There are at least a dozen legal and ethic ways to build million page websites and it has nothing to do with scraping content or using copyrighted material.
            One day I ‘ll share it.

  9. Mike says:

    Great job guys, wish you the more success in the future!

  10. Tung Tran says:

    Congrats guys. I learned about diversifying the income while reading your report :)

    • Greg Nunan says:

      Great detail and welldone on a solid month and great IntelliTheme launch!

      You mentioned that you are dumping all your under-performing sites…. Are they under-performing because you don’t put ongoing work into them?

      If so, would there not be a market to package up say 10 or so current non-money makers and sell them off for a small amount.

      You guys have your keyword research streamlined so I would think you wouldn’t have started a site if it didn’t tick your boxes in terms of initial criteria.

      I just wonder if beginners would be willing to part with a few hundred dollars for a pack of part-done “potential money-making” sites… saves them time to research, produce initial content etc.

      Beginners are generally willing to put time into developing sites initially. You guys work on a churn and burn type of model so the ones you burn could be of value to someone that has the time to develop them further.

      The profit margin for you in terms of time to transfer domains isn’t probably there for what you’d be selling them for, but it’d be a pretty good “service” for you to offer IM beginners.

      Look forward to your next income report.

    • Justin Cooke says:

      Cool to hear, Tung!

      It’s good to build out a profitable revenue stream, get it set/stabilized and then add another…and another…

      What do you have going that’s working for you right now?

      • Tung Tran says:

        I now have 2 streams:

        + Keyword Research/SEO/Writing Service
        + Niche Sites

        I have just started :)

        • Justin Cooke says:

          Nice!

          It was interesting reading your first income report. I love your authenticity and honest approach – I think you’re on the right track!

          • Iain Robson says:

            I with you on that one Justin.

            I actually read it the other day and it was pretty awesome.

            Being honest and authentic can go a long way in developing a good brand. Tung is definitely off to a great start.

  11. Dan says:

    Rock on guys! Very exciting report, seems like so much is coming down the pike. Excited to watch. (b/c it seems like a lot of work ! :)

    • Justin Cooke says:

      Thanks, Dan!

      Yeah, quite a bit of work. I’m still looking for that mythical “easy button” lol.

  12. Jennifer Pham says:

    Oh gosh, I was just called out. Haha, I’ll do my best not to disappoint your expectations! I wasn’t kidding when I said I was a complete newbie so I’m sure we’ll both be able to gain some priceless knowledge from this experience. :)

  13. Isaiah Coe says:

    Over half a million in one month! (O_O)

    Congrats on the high earnings guys :)

    • Justin Cooke says:

      Hey, Isaiah…

      I wish. :-( It’s over $50K not $500K! hehe

      Thanks though…appreciate the comment!

  14. Would be interested in knowing how you go about your bookkeeping.

    Let me know if you need any help.

    • Joe Magnotti says:

      Right now we have two bookkeepers, one in the Philippines and one in the US. We have two separate instances of Quickbooks Online that are merged every month in a special report.

  15. $53K revenue is good stuff!

    What is the operating profit before taxes?

    Cheers

    • Joe Magnotti says:

      Thanks for the comment,much appreciated. I’m a fan of the Financial Samurai site. Good stuff!

      Justin has done a great job outlining our general expenses here:

      http://empireflippers.com/adsense-flippers-monthly-expenses/

      Beyond that I have to say, I am a little uncomfortable revealing much else. Our profit margin is quite good, but exposing exact expenses could cause issues with employees (i.e. “pay me more” conversations) and problems with customers on the outsourcing side (i.e. “I want to pay less” conversations). This would quickly lead to declining profits — a race to the bottom where we get squeezed out as the business owners.

      Perhaps in the future we will reconsider, but for now I think we’re being as open as we can be given the current environment. I hope you understand.

  16. Great Job Guys! I always love looking at your income report and how you tweak your strategies.

  17. Darren says:

    Hey Guys,

    Great job as all ways, I thought it was interesting about the Twitter V’s Facebook.. I would of thought promoting through Facebook, would of far outweighed Twitter, for return.

    Keep up the hard work

    • Justin Cooke says:

      Hey Darren – Great meeting up with you in Davao, my man!

      I think you’re right – I spent much less time promoting on FB and it’s definitely done more to get people to the site. I think I’ll have to spend a bit more time on FB and a bit less on Twitter, eh?

  18. Stefan says:

    Man the value of the starter packages is pretty insane with the option to exchange already owned elements for starter niche sites that are already earning money. I’ve got Longtail Platinum (the upgrade from Pro to Platinum is definitely worth it!) and hosting, but Intellitheme is looking mighty sexy if it’s included in the basic starter pack.

    I think the price comparison chart may be a bit confusing at the moment. When I had a look earlier, the amount saved lined up with regular price because of the moving columns. So I was going ‘Regular price 107 bucks, buy it now for 147 bucks…?!?’. It’s actually a bit tricky to compare the packages.

    In any case, after I’m done wrapping up my current project you can definitely chalk me up for one of the starter packs!

    • Justin Cooke says:

      Awesome, Stefan!

      IntelliTheme is definitely included with the Starter Packs. Sorry about the pricing tables…still having some funky, persistent design issues. :-( The bullet points at the top basically share the same information…probably better to use at this point.

      Looking forward to having you onboard as a Starter Pack customer!

  19. staszek says:

    “We had a kick-off call last week with the new client (Hi, Jennifer!) and we’ll start the training this week. (2 hours per week for 3 weeks) The general idea is to walk her through the entire process of building niche sites, start to finish. Both Joe and I will be on most of the calls and will be building sites right along with her. The plan is to completely over-deliver and get her up and running…building profitable websites.”

    Can You make WSO case study from it?

    • Justin Cooke says:

      Hey Staszek,

      I don’t think so…aside from the fact that it would be unfair to the client, I don’t think we want to get into the info-marketing game at this point. We’d rather sell/rent our time or give stuff away free! :-)

  20. Jon Haver says:

    I really like this style of report with the numbers for both revenue and expenses. It’s also great to see more #’s behind your outsourcing business.

    For me the more #’s and graphs the better!

    • Joe Magnotti says:

      We’re slowing revealing more and more numbers as we get more comfortable with the accounting situation. There will always be the need for some discretion on the outsourcing side especially with larger companies as clients. They don’t like airing financials unless they have to, so protecting these relationships is important to us.

  21. Mike says:

    Hey Guys, just wondering if you have an approximate cost for all of your employees. Are all 33 employees full time?

  22. Jeff Raymon says:

    Thanks for sharing. Do you plan of adding an import/export feature to IntelliTheme?

    • Justin Cooke says:

      Hey Jeff,

      I don’t know that an import/export feature is in the roadmap for IntelliTheme. (I’d have to ask Joe to be sure) What specifically were you looking to import/export?

      • Joe Magnotti says:

        I think he means IntelliTheme settings for porting to another site. Interesting idea Jeff, I will run it by our developer.

  23. Amir says:

    Hey Justin,

    Thanks for sharing these valuable information with us.

    May you please also list your expenditures? This will give us better understanding of your business model, gross revenue and etc.

    Also it could be a good idea to setup “Goals” through your Analytics account. By doing this, you will be able to find (and inform us) the most convertible customers. (In aspect of sources, countries and etc)

    Regards,
    Amir

    • Justin Cooke says:

      No problem, Amir!

      You can get a better understanding of our expenses here:
      http://empireflippers.com/adsense-flippers-monthly-expenses/

      We don’t list individual clients or employee salaries here for a few different reasons…I’m sure you can understand that.

      You’re totally right regarding GA goals. I had them setup for AdSenseFlippers but never fixed for the new brand…will do that soon. :-)

  24. Sheyi says:

    I guess you guys are doing pretty fine. As per the FSO on IT guess its good. Did you also use WSO?

    Sheyi

  25. Great work as usual, guys. I like seeing the outsourcing income from your business as well. I look forward to learning more about that aspect of your business.

    • Justin Cooke says:

      Thanks, Mike!

      I’ll try to see if we can put out a bit more information about our outsourcing company regarding the type of work we do well, don’t do, etc. I’ve meant to but…well…you know how that goes, heh.

  26. yatoast says:

    congrats on your success guys always looking forward to your monthly income reports and continual success

    • Justin Cooke says:

      Thanks…appreciate it!

      I’m publishing this a little later than I meant to, but I was struggling putting the numbers together and kept putting it off, heh.

      REALLY need to see if I can get these numbers directly from the bookkeeper next time. :-(

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