Hard to believe we've endured twelve months of this. While where I live has moved out of full lockdown, we're still harshly limited in where we can go and what we can do while we wait for things to get back under control. With vaccines on their way out at an increasing rate and numbers dropping, hopefully that will be sooner rather than later!
This past month has been absolutely wild. Because of the insanity that is cryptocurrency, this month I managed an absolutely astounding > 70% investment portfolio growth this month, AND I managed to do almost 2k in gross revenue--falling just shy at $1,949.52.
This makes February my best month on record for both investment portfolio growth AND gross revenue from my various side hustles.
The breakdown:
- $1,182 via Nicehash. This is a combination of crypto mined this month, plus the growth in value from coins mined previous month or so that I have not withdrawn from my mining wallet yet. Astounding!
- $335 in 3D Print sales, an odd increased performance this month
- $165 in flipping sales
- $109 total net gain from my various trading bots
- $87 in Youtube ad revenue, continuing the decline trend from last month
- $43 in Print on Demand sales, 90% of which is Society6 with a few small sales on Redbubble
- $15 in 3d model sales on MyMiniFactory
- $7.48 in stock dividends
- $2.64 in Amazon Affiliate commissions (done in conjunction with Youtube)
- $0.06 in Lbry tokens...
With Zazzle and Teepublic, no surprise there--been seeing a consistent lack of traffic to my listings there, even though they are mostly at parity with Society6 and Redbubble.
With Patreon, still no supporters--seems to be a combination of my particular audience not being oriented to subscription-based support structures like this, and me not having valuable enough perks. Will continue to iterate on this in the future, but for now, it's just... there, existing.
And for Shapeways, months are hit or miss. This month was a miss, no sales. I always get traffic to my listings; but shapeways products are always super expensive, so the hit rate on traffic is always low. I'm considering starting to focus on smaller items.
As you can see in the numbers, my Bittrex trading bot took a huge dump. Now, in fairness, it was doing really well for most of the month--it actually got up to being only down by 34%! But a couple bad trades dropped it right back down again. As of now, it's currently down by 73%. Algo trading is hard. Thankfully my Binance bot is doing much better, 'only' being down by 57.91% over last month's 76%.
For manual trading on Coinsquare, I'm continuing to see improvement; with my BTC value of my holdings up 47.82% over my starting value, meaning I'm up 50% alone in my crypto portfolio solely from trading. Good gains, considering I started the month off being up by 5%!
On the Youtube front, I'm seeing a continuing decline in metrics. Lower impressions & views, and lower revenue because of it. Which is strange--I've been making sure I put time and effort into my videos--I'm not sure why I'm seeing this decline. I know Youtube waxes and wanes, and I'm hoping that I'm just in a temporary rut in the last dregs of winter before spring kicks in a new yearly interest in the great outdoors. At the very least, I've got some fun projects on the go for Youtube content!
Here's my Youtube metrics for the month:
- Published four main videos, on track with goal of producing one main video a week
- Currently at 2542 subscribers, up 134 over last month
- Subscriber growth rate: 5.56%, continuing a decline from last month's 11.12%
- Average daily views throughout February: 583, down over last month's 801, or a decrease of -27.21%
- Average daily subscribers throughout February: 5, down over last month's 8, or a -37.5% decrease
Ouch... when I put it into perspective like that, this last month was a rough drop-off. Hopefully I've bottomed out...
Next up, let's take a look at the work items I had in place for February and how I managed:
- For main Mike in the Woods Youtube videos
Right on target! - 3 new Shapeways/MyMiniFactory listings
I think I only did 1 or 2 - 3 new Print on Demand listings
Did many more. Found something quick & easy that I'm trying out to see how it does over the next month - Apply to Displate to be a seller (new sales channel for Print on Demand)
Applied; got rejected (too many sellers active) - Sign up for (& apply if necessary) being a seller on TeeFury (new sales channel for Print on Demand)
Haven't done yet - Six new flipping listings
Ignored in favor of more work on Print on Demand stuff - Repair GPUs with broken fans on mining rigs, and work on new instability issues
One GPU repaired & returned to active duty successfully; fans for second GPU literally just came in yesterday, and the third GPU's fans are still on the way
So I did all right for the most part, missing only a couple goals here and there. Those ones will carry over into March.
So, let's see what I aim to do in March:
- Five main Mike in the Woods videos (one per week, because of how the weeks line up)
- 2 new Shapeways/MyMiniFactory listings
- 20 new Print on Demand listings using new quick & simple design test
- Sign up/apply for TeeFury
- Start bringing TeeFury up to parity with other PoD sites
- Six new flipping listings
- Repair remaining two GPUs and return to active service
Full work queue for the month. Will probably miss out on a couple, but I'll try not to!
Lastly, it's time to take a look at my investment portfolio:
Man. I thought last month's 54% growth was nuts. This month, my five-digit portfolio grew by an absolutely insane 72.41%. (Mostly crypto.)
The higher my growth is at the beginning, the longer this has to grow at a compound rate at something far more reasonable. My target growth rate--which I know is insane to expect--has been 6.5% month-over-month; but because of how quickly my risky portfolio is growing, that number has shrunk to only 4.4% to hit the target of $2,000,000 by age 40 (eight years and a month from now).
Oh, yeah, and I smashed through my $25,000 milestone. At this rate, I'm going to hit $50k next month... (probably not)
I like to set milestones for investments, youtube, and any other projects such as: 10, 25, 50, 100, 250, 500, 1000, 2500, 5000, 10,000 etc.
If you find these posts helpful, and you are interested in cryptocurrency, try signing up for Binance! It's a widely-known cyrptocurrency exchange (think stock exchange, but for crypto). It's free to do so, and by using my referral link we'll both earn 10% of any trading fees you pay.
https://www.binance.com/en/register?ref=WZKZ16ZW
See you next post!
#financialfreedom #financiallyindependent #financialindependence #financialindependenceretireearly #passiveincomeinvesting #passiveincomestream #passiveincome #sidegig #sidehustles #sidehustle #wealth #makingmoney #wealthbuilding #incomestreams #incomestream #passiveincomeideas #passiveincomestreams #passiveincomeclub #passiveincometips #passiveincomemethods #sidehustleideas #sidehustler #sidehustlers #sidegigs #sidegiglife #sidegigsuccess #passiveincomesuccess #sidehustlesuccess #sidegighustle #entrepeneur #creatingwealth #investmentportfolio #income