An Income Challenge to You, Savvy Freelancer!

Freelancers Income ChallengeYou are now reading the blog post I’ve been putting off. You will soon find out why.

If you will recall, a couple of weeks ago I wrote about one of my greatest fears. As a result of that fear, I resolved to create multiple streams of income.

Well, I have gotten so desperate motivated to do so, that I even explored a couple of MLM opportunities. And then, I had a “duh!” moment, when I realized that, instead of going into something new, I should instead simply scale up something that’s already working.

The Epiphany

That is, instead of creating another stream of income, why not make an existing stream bigger and flow more vigorously?

I’m talking about something I’ve been doing since 2008, something that’s been showing results, but which I’ve been neglecting for the past year: affiliate blogging.

In the past, at one point, I made $1000 in affiliate commissions in a month. I’ve also won an iPad 2 in an affiliate contest. Just the other day, I made an affiliate sale from a blog post I published in 2010.

But since becoming a work-at-home employee, I’ve been neglecting my affiliate websites, and that stream of income has almost dried up. Still, on average, I make $200 a month on my affiliate blogs. Not a lot, but at least it covers my hosting and other costs.

The Destination

So here’s the challenge I made for myself: By the end of six months, my affiliate earnings should increase to $1000 a month.

Now you see why I’ve been putting this off? I didn’t want to put this goal out there, and then admit failure later on. But there it is.

I know it’s a modest goal, but I’m comfortable with it. It’s large enough to make a significant impact in my family’s finances (that would cover my teenager’s university costs and my other daughter’s braces), yet small enough that it feels achievable.

What would an extra $1000 a month mean to you?

The Roadmap

In 2009, I bought The Super Affiliate Handbook by Rosalind Gardner. Ros has been making a good income from affiliate blogging in non-internet marketing related niches. Sure, she sells books and ebooks, and gets paid to speak at internet marketing events, but her main income still comes from affilite blogs in niches like travel and dating.

I bought the handbook, because Lynn Terry, one of my early mentors, followed Ros’ system and within six months was steadily earning a full-time job — enough to close her service provider business forever.

So why didn’t I get the same results, or even close to it, as Lynn did? You see, I bought that book and didn’t read it all the way through. I printed it out, put it in a binder… then put the binder away.

I don’t know what I was thinking! Maybe I thought I already knew everything. Maybe I got busy with clients. Whatever the reason, I put my hard copy of that ebook away… only to pull it out again almost four years later.

This time, I read it in earnest. And boy am I kicking myself. Despite the successes I’ve experienced in affiliate blogging, I realize I’ve been omitting so many things and doing other things wrong. Who knows how much money I’ve lost because of my recklessness?!

To reach my goal, I’m going to give Ros’s advice a shot. I’m going to put it to work for at least six solid months. (If you’re interested in Ros Gardner’s ebook, you can find out more here. I bought it for $47 but today it’s only $27)

In fact, I’ve started implementing some of her advice, and today I got an email from an affiliate manager who’s come up with an idea for me to profit even more as their affiliate. I can’t wait to see what other results I get from following Ros’s affiliate blogging advice!

Your Challenge, Do Accept!

Here’s my challenge to you: In the next six months, create or scale up another stream of income. Let those income streams gush forth!

Are you up to the challenge? If it isn’t top secret, share with us what income stream you want to create or expand. How much additional income do you want to earn, and how do you plan to do it? Do share!

Lexi Rodrigo Savvy Freelancer

PS: As I was going through the Super Affiliate Handbook, I find I have a few questions and wish I could get Ros to answer them. Turns out I can! In 2010, Ros created Affiliate Blogger PRO, an exclusive forum where members can interact with her directly and see inside even her affiliate blogs. I am so stoked!

Photo by meiburgin

12 Responses to An Income Challenge to You, Savvy Freelancer!
  1. Kimmoy
    February 7, 2013 | 2:08 pm

    Hi Lexi,

    This is too funny. I can totally relate to this entire blog post. I too do not like the idea of having just one source of income and I recently joined a networking marketing company (www.tomboytools.com/kimmoy ) I was trying all these things like vending at events which have not been working for me and then I thought, you know what? I could treat my site like an affiliate blog and focus more on online sales.

    I bought Rosalind Gardner’s ebook based on Lynn Terry’s review also, so it looks like we’re on the same path to affiliate blogging. I joined a writing meetup group where we meet at a really cool location and simply write for 3 hours straight. I’ve written 10 articles (500+ words ea.) thus far. I’ll be focusing more on product reviews next week as I dust off Rosalind’s ebook, so I accept your challenge to ramp up my income with affiliate blogging :D

    Thanks for the motivation!

    Kimmoy

    • Lexi Rodrigo
      February 7, 2013 | 3:16 pm

      @Kimmoy – That is awesome! Affiliate blogging is such a perfect side income for writers. Thanks for accepting the challenge, and keep us posted on your progress. :-D

      • Adam
        February 11, 2013 | 11:27 am

        How about simply spending all the tax you’d normally pay on awesome junk for your business and claim it all back as expenses instead? I’ve just been reading about it here.
        I’m ready to live like a king now!

        • Lexi Rodrigo
          February 15, 2013 | 1:33 pm

          @Adam – Well, you can’t spend everything!

  2. Gen
    February 9, 2013 | 8:05 pm

    So what is affiliate blogging?
    Gen´s last blog post ..Distraction Free Writing in WordPress

    • Lexi Rodrigo
      February 11, 2013 | 10:49 am

      @Gen – Affiliate blogging is one way of blogging for profit. You blog about a topic you’re passionate about and earn income by promoting products as an affiliate. Every time someone clicks from your site to the merchant and buys something, then you earn an affiliate commission. I’ll write more about it soon! You can also get some info here: http://www.thesavvyfreelancer.com/superaffiliate

  3. Nikki
    February 16, 2013 | 3:34 pm

    I definitely plan to incorporate affiliate marketing into my blog monetization plan at sooner or later.. probably later. For now, I’m still trying to drive traffic through social media and consistent, frequent posting. Hopefully, I’ll build a large enough audience within six months to get clicks – even if they don’t buy anything. That would at least let me know that the content is interesting enough to get clicks from my readers.

    I think this is my first time commenting, but I’ve been following your blog since March 2012 (I used your building a freelance website guide to get started online). Thanks for your insightful posts. :)
    Nikki´s last blog post ..Are Graduate Studies Worth the Time & Money?

    • Lexi Rodrigo
      March 29, 2013 | 9:30 am

      @Nikki – Great to hear from you at last! Even while you’re getting started, do monetize the great content you’re producing. And remember to build your list — that’s the most important thing.
      Lexi Rodrigo´s last blog post ..An Income Challenge to You, Savvy Freelancer!

  4. Artiatesia Deal
    August 26, 2013 | 9:15 pm

    It’s been a while since I’ve been to your blog. I came back through your new post on the update to this challenge and went back read about it from the beginning.

    Anyway, I accept the challenge and will begin September 1st, making February 2014 the 6-month mark. I’m not new to affiliate marketing but since I don’t have the time I would like to devote to developing the source of income, I’m going to go with $100. In the past I only been able to make that in a whole year.

    Thanks for the inspiration and for being so honest.
    Artiatesia Deal´s last blog post ..Life & Times Snapshots; 082313

    • Lexi Rodrigo
      August 27, 2013 | 11:37 am

      @Artiatesia Deal – I remember when I was just starting out online, I signed up for Ed Dale’s free internet marketing course about making your first dollar online. It starts with that one step. Once you know how to make $1 or $100 then you will be able to make any amount you aim for.

      • Artiatesia Deal
        August 29, 2013 | 6:36 pm

        Thanks Lexi. I already started mapping out my plan and putting it in place for the first.

        • Lexi Rodrigo
          September 13, 2013 | 1:50 pm

          @Artiatesia Deal – Awesome! Keep us posted on your progress.

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