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.

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14 Responses to “An Unconventional Income Statement + What’s New in 2015”

  1. Hi Eric,
    Long time lurker here.

    I’m in a very similar situation.
    My niche sites are truly passive income. They are small amounts and don’t grow.
    My full time job is busy which doesn’t allow me to dedicate a whole lot of time to my side projects.

    For me, I still have the desire to build a solid revenue stream from my new project, but I just have to dedicate more hours to it.

    Blogging is always the lowest on my priority list. I know I have to do it, but I just can’t stop working on the product.
    Larry recently posted… Google Analytics Account Basic Setup


    Eric G. Reply:

    Hi Larry, thanks for leaving a comment. It does sound like your situation is very similar to mine. It’s tough when there are only so many hours in the day, but you’re right, it’s all about making time for it. One suggestion, which has worked for me in the past, is to wake up earlier each day. Even if it’s only 30 minutes, that an extra 3.5 hours each week or 14 hours a month.

    Best of luck to you.


  2. At the end of the day, I think it is imperative to chase what you love.

    I’ve always had a hard time with “the system” whether it be college or “the man”. My grades reflect it, my lack of internships during college reflect that and it puts me in a position where entrepreneurship is the only way out. (I mean, I’m a great employee but I’m just not as fulfilled when part of someone else’s team).

    I think in our entrepreneur circles we tend to “disdain” those who have a “real” job (and even more so those who are happy in them).

    It shouldn’t be that way.

    It will be great to see your new enterprises take off. Keep us posted.
    Quinton Hamp recently posted… Income Report January 2015


    Eric G. Reply:

    Thanks Quinton. Well said.


  3. Hi
    I too am suffering from the same type of situation where i find it really hard to devote time for my blog,that’s why i am planning to prepare a blog on line of my intetrst area, which is around coding and educational stuff, correctly said, do what you love, it will make you more productive.
    take care


    Eric G. Reply:

    Thanks for the comment Shekhhar!


  4. I agree with you about the fire. It took me leaving my job to really light a fire under my ass, but since then, going on 3 years now, I have been doing much better with my online business. You were one of the first blogs I started reading 4 years ago, just wanted to stop back in and say hi!

    Chris recently posted… How Many WordPress Plugins is too Many?


    Eric G. Reply:

    Hey Chris, really nice to hear from someone who has been following along for so long. Sounds like things are going well with you – keep up the good work!


  5. Hey Eric, I can definitely relate. Unless the work is systematized it is hard to find the time on top of everything else.

    The best thing I have found is making a public commitment on when I will be publishing articles. This has seemed to help.
    Jon Haver recently posted… February Income – Worst Month


    Eric G. Reply:

    That definitely does help – good tip, and thanks for the comment Jon!


  6. I am similar to Quinton. I too hate to be the employee in most situations and find it to be a drab in life.


  7. Hi Eric,

    For me, I am just getting back to publishing my income on my blog. I feel publishing them on my blog helps me to be accountable and pushes me to work on the business since I don’t want to ‘disappoint’ those following my progress.

    Hope life is treating you well
    Don Modekali recently posted… September Income Report & October Goals


  8. Hey Dude, had to come back and comment. About this time 1-2 years ago I was reading your blog. Actually, I can’t remember if it was this blog, or the other blog you started. But anyway I was reading it and you talked about how the new thing in SEO was private blog networks. Up until that point I had only made a few hundred bucks a year online. But that comment lead me to Matthew Woodward, which lead me to Alex Becker, which lead me to OMG. That one comment that you made was life-changing for me because all of 2015 (and most of 2014) I’ve been un-employed making money in my own SEO business. I quit my law firm to do this full time and this year was so awesome because you led me to the thing that became the thing for me. Thanks brother.
    Dustin Sanchez recently posted… The Extra Television


    Eric G. Reply:

    Hey Dustin,

    That’s awesome man – very happy for you. Unfortunately I’ve been far too quiet online these days (haven’t blogged in months) due to “real life” work consuming most of my time. Same old story.

    Best of luck to you – keep it going!

    – Eric


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