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March 2017 Monthly Income Report

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Monthly Income Report March 2017

March was an exciting month because I finally kicked off a number of projects, which required all sorts of prep work but also some heavy investments. Most of the projects are still in the research phase, but they are also eating up cash while I have people set up prototypes for me.

The most exciting project right now is probably ThreadBasket, which will eventually become a private marketplace for t-shirt designs. Promoters who do not have the time or the skills to design shirts, will able to purchase them on ThreadBasket at an affordable price, without having to deal with freelancers directly.

You basically just go shopping like in any other store, except that you’ll have to pay a small monthly fee to get access to the club. Why the fee? Primarily in order to keep all those copycats out, but also because the platform obviously has ongoing upkeep costs which need to be covered. ThreadBasket is still in development and I will be posting a separate blog post on it a couple of days, but I will be opening up as soon as possible for a private beta that only a very limited number of people will have access to. If you want to be part of it, secure you chance by visiting the site and signing up to the ThreadBasket LAUNCH LIST ๐Ÿ™‚

In other exciting news, I eventually got my approval for Merch by Amazon. 5 months of waiting but finally it’s over. I’ve already uploaded my first batch of 10 designs, but unfortunately it takes some time to get tiered up and obviously that first sale is the hardest. I’ll keep you posted on my success rate as we go along.

Year-on-Year Performance on Spreadshirt

Based on my own sales tracking, February saw EU gross sales increase by 13.6% versus the previous month (up by 10.5% on the US marketplace) and a whopping 27.8% higher than the same period last year.

NOTE: Please remember that the above numbers are based on live sales tracking throughout the month, while the earnings reported in the table below are actual cashflow movements. Most of the sales I generate have a delayed payout.

Monthly T-Shirt Income Report

I’m looking forward to reading your questions and comments. If there’s any particular position that you would like to know more about, then let me know and I will try to clarify.

USD Last Month
Spreadshirt Marketplace EU 3,079.24 3,704.68
Spreadshirt Marketplace US 589.00 627.00
Redbubble Commissions 250.44 167.56
Teezily Commissions 18.41
Other Licensing Income 286.58
Expense Positions USD Last Month
BoxCryptor (Annual Subscription
Deutsche Post (Shipping Costs)
Digital Goods (Themes, Templates etc) 69.00
Dropscan (Mail Scanning Service) 6.17 18.40
Facebook (Advertising)
GitHub (Micro Personal Plan) 7.00 7.00
Google API Services (mostly translation) 1.09
Google Drive 2.13 2.12
Google for Work (Monthly Subscription) 17.09 17.03
HostGator (Web Hosting Services) 11.95 11.95
JetBrains PHP Storm (Monthly Software Subscription) 9.51 9.47
Laracasts (Monthly + Lifetime Membership)
MailChimp (Monthly Subscription) 13.50 9.00
Namecheap (Domain Name Registration Fees) 22.91 65.76
Noun Project (NounPro Subscription) 9.99 9.99
PureVPN (Annual Subscription)
Shopify Basic Subscription (for www.gocaptain.com) 29.00 29.00
Freelancers (Upwork etc.) 1660.50 302.50
Xing (Quarterly Subscription) 31.89
Gross Operating Profit before Taxes 2,046.45 4,017.02

*EUR/USD Exchange Rate for March 2017: 1.0682

2 comments… add one
  • Jim J

    Hey,

    I had two things to say …

    Like you mentioned, this is a numbers game and it is really working for me. More designs = more monthly revenues, but there’s always this thing in the back of my mind that I might lose my account, lose SEO rankings, get destroyed by copycats or something disastrous might happen, like a certain President of a powerful country might crash the economy and people will stop shopping on PODs and go back to budget shops like Target hah!

    You’ve been doing this for so long.. I was wondering how you kept your account safe and kept the revenues steady…?

    It also looks like you’re spending more on freelancers… are you expanding your spreadshirt business?? Or is this for your new business?

    I actually had a similar business model in mind, but i didn’t pursue it because I thought people wouldn’t be interested in paying for a subscription like this, plus the legality of it all was too overwhelming for me. I did see some other guy set up a site like you are about too.. so you’ve got some competition ๐Ÿ˜› good luck with it, if it does do well, I’d love do design some stuff myself for your marketplace, I believe first mover advantage would serve me well hehe ๐Ÿ™‚

    • My account isn’t safe. I’ve been copied thousands of times. I just stopped worrying about it and did my own thing. You simply can’t beat the copycats. Their criminal energy is too strong.

      Most of the new freelancer costs you see are for developers who are working on the new venture (www.threadbasket.com). I’m also thinking about expanding my Spreadshirt business but that will probably be done in a different way.

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