An Unconventional Income Statement + What’s New in 2015
It’s been quite awhile since I’ve written a new blog post – perhaps the longest I’ve ever gone without a new blog post in the 5+ years since I started blogging.
No doubt there’s been a lot going on, as mentioned in some of my previous income statements, but it’s been awhile since I’ve given a full update on the status of my online business. In general, things have remained inactive. I’ve continuously earned around $500/month, completely passive income, from some of the sites I created more than a year ago as well as from one of my favorite investing sites, Lending Club.
I’m not going to bore you right now with the same stuff that you’ve read in my last 5 or 6 income reports. Everything has been pretty consistent, and I’m still genuinely pleased that work I did a long time ago continues to pay off today.
But more importantly, where is this all heading? I don’t know exactly, but I have some ideas.
Why the Break in Income Statements and Blogging in General?
If you’ve followed this blog for awhile, you know that I have consistently posted an income statement every single month for the past 4+ years, and only recently (December 2014) have I stopped publishing them.
It’s not because I don’t want to share them anymore – it’s simply that nothing has changed. As I mentioned above, I’m tired of churning out the same “nothing new here” income reports. I thought it would be better if, instead, I published income reports when I actually have something new or interesting to report.
As for blogging, I miss it. Part of the reason I haven’t blogged much lately is because I’ve been busier with my “real job.” I’m finally in a relatively important position with a lot of responsibility, and quite honestly, it’s been rewarding. I’m not always happy with it, but that’s the way it is. I challenge you to find someone – even the entrepreneur who absolutely loves his or her business – who isn’t sometimes stressed or unhappy with their work.
It’s been a challenge to try and live out my entrepreneurial dream while still staying committed to a normal corporate job. I think many of you reading this know what I’m talking about.
Part of the problem is that I don’t hate my job, and therefore, the fire underneath me isn’t all that hot. Sometimes you need a really hot fire to ignite an entrepreneurial passion and force you into action. That’s the way many endeavors begin, and are successful.
I have ideas that I’m currently trying to execute, and part of the reason I haven’t been blogging about it is because I simply don’t have the time to do it. In the past, I would spend so much time on this blog discussing my plans, writing blog posts that explain what I’m doing and updating on progress, that it would actually eat away at the time that I have to execute those projects.
So, I’ve decided that once I really have things in motion, I’ll write about them here. But until then, it’s not a good use of my time to write in detail about what I plan to do. And it’s a better use of your time too – why waste your time reading about something I haven’t begun to execute yet?
What’s New in 2015
In an attempt to not completely contradict what I just wrote above, I’ll give you a little glimpse into what I’m currently working on:
- Building my tax preparation business: As you know, I’m a CPA, and I have a small client base for whom I prepare taxes (this is outside of my regular day job). I specialize in taxes for sole proprietors – individuals who run small businesses (such as someone who owns an income generating website), and need a little bit of help sorting out how exactly it all needs to be reported for tax purposes.
I’m trying to grow this business, so if you’re someone in the US who could use a little bit of tax advice or need someone to prepare your tax return, feel free to contact me.
- Building a new website around my area of expertise (accounting/taxes): This will be more of an informational resource, but could help bring in new clients and could lead to additional premium products.
- Kindle book – I’m working on a Kindle book that is going to be a compilation of content I’ve already published in the past (not from My 4-Hour Workweek). Stay tuned on this one, as you’ll probably hear more about this in the near future.
Anyway, I just wanted to give you a little bit of a real update instead of the same old boring income report. I hope to be back soon with some more interesting developments.
What’s new in your business lately? Are you in a similar situation as me? Feel free to leave a comment, and we can chat about it.