1 Interesting Point on Sharing Income Reports

25 replies
Making income claims can be super effective.

But you really want to be clear on using this strategy, to see it work for you.

I never really went the income claim route because I clearly wanted readers, customers and clients who simply wanted me to teach them how to do something, versus having readers, customers and clients who were focused solely as seeing my blog as a quick way to earn money.

I avoided many headaches and actually made more money using a no income report approach than I would have making the claims, methinks, because I'd never have aligned with such a loving, supportive tribe, who had spread my message like wildfire, who buys my products, who endorses me and who hires me.

I know folks like Pat Flynn and John Chow who have tons of success sharing income reports. These guys were clear on going this route, enjoy it and built their brand on the concept. Awesome for them, I say.

It bears thinking though; you really really really want to be clear on this idea before you go this route, or you risk attract hoards of desperate, greedy, unrealistic, fearful folks, who are looking for dough and don't want to be bothered with learning skills, helping folks, creating inspired products and services, and lifting up the IM niche.

What's your take on sharing income reports?

If you're clear on going that route, show your reports. But if not, and you are sharing your income from a desperate proving energy, you could attract a bunch of folks who are only interested in *getting*, and not much in *teaching* or *giving*.

Your thoughts?
#income #interesting #point #reports #sharing
  • Profile picture of the author yukon
    Banned
    Originally Posted by ryanbiddulph View Post

    Making income claims can be super lame.

    Fixed it...

    The way I see, only liars need to tell the world how much money they've figuratively made in order to make money.
    {{ DiscussionBoard.errors[11157496].message }}
    • Profile picture of the author ryanbiddulph
      Some are telling the truth, for sure, but some may be stretching the truth, for sure, LOL.
      Signature
      Ryan Biddulph helps you to be a successful blogger with his courses, manuals and blog at Blogging From Paradise
      {{ DiscussionBoard.errors[11158115].message }}
  • Profile picture of the author DIABL0
    I have been working online for over 16 years. I have generated a huge amount of income doing so. But I have issues with disclosing it....privacy issue.

    The only income claim I ever make is generic and all I ever say is...

    I have personally generated millions and millions of dollars in affiliate / CPA commissions...all 100% monetizing 3rd party data.

    The FTC can knock on my door all day long and I can provide them with proof and they can be on their merry way.

    The bulk of the time I don't ever even disclose it to potential students. They sign up to my training based on the info I provide them / proof of my knowledge of the business
    Signature
    How to Build LARGE EMAIL LISTS on a Budget and MONETIZE Like a PRO
    20+ Years Exp . . . . . . . . . . . . Email - CPA - PPL
    {{ DiscussionBoard.errors[11157504].message }}
    • Profile picture of the author ryanbiddulph
      This is it; the info you provide is the draw. Like me too. When you help folks, persistently, folks seem to buy in, literally.
      Signature
      Ryan Biddulph helps you to be a successful blogger with his courses, manuals and blog at Blogging From Paradise
      {{ DiscussionBoard.errors[11158116].message }}
  • Profile picture of the author Michael Meaney
    I'm indifferent towards income reports.

    It's kinda weird for me because my marketing blog is the least monetized and least promoted site that I own.

    I think most people would find those income reports disappointing because I only put minimal effort into marketing that site (I don't have the time to do that and run my main business).

    But with my other sites - my main business that I actively promote and monetize fully, if I shared income reports from those sites I'd probably create more competition for myself, or irritate my audiences by 'bragging'.

    I agree that it can attract the wrong type of people, who don't care how they make money.
    {{ DiscussionBoard.errors[11157509].message }}
    • Profile picture of the author ryanbiddulph
      I have seen this Michael too; some folks who get drawn in by numbers are more intrigued by the numbers, and less with building a viable business by rendering service and developing skills.
      Signature
      Ryan Biddulph helps you to be a successful blogger with his courses, manuals and blog at Blogging From Paradise
      {{ DiscussionBoard.errors[11158117].message }}
  • Profile picture of the author Frank Donovan
    If income claims serve any purpose at all it's probably as a filter.

    Those who make them betray a lack of confidence in their own credibility. Those who are impressed by them don't yet understand the fundamentals of the business and would be best advised to do more research before spending their money.
    Signature


    {{ DiscussionBoard.errors[11157523].message }}
    • Profile picture of the author DABK
      Surely u r not suggesting that income claims without expenses claims are meaningless numbers!
      {{ DiscussionBoard.errors[11157884].message }}
      • Profile picture of the author Frank Donovan
        Originally Posted by DABK View Post

        Surely u r not suggesting that income claims without expenses claims are meaningless numbers!
        That might be one of the points implicit in my post.

        And don't call me Shirley.
        Signature


        {{ DiscussionBoard.errors[11157899].message }}
        • Profile picture of the author DABK
          Ah! U just destroyed my faith in humanity.
          {{ DiscussionBoard.errors[11158039].message }}
      • Profile picture of the author writeaway
        Originally Posted by DABK View Post

        Surely u r not suggesting that income claims without expenses claims are meaningless numbers!
        Very good point. More than a few people made the same objection when SM showed off his $1M Adsense check.
        {{ DiscussionBoard.errors[11158374].message }}
    • Profile picture of the author ryanbiddulph
      Cool take Frank. Folks can pick through who they wish to work with based on if they do or don't make income claims. As for the impressed folks, the majority seem to have little idea of what it takes to generate such income.

      I do appreciate the work that goes into raking in that chedda but in the same regard, it was never the end goal for me. So when I see a big time income, I may give the entrepreneur props for a moment then it's on to doing what I do.
      Signature
      Ryan Biddulph helps you to be a successful blogger with his courses, manuals and blog at Blogging From Paradise
      {{ DiscussionBoard.errors[11158120].message }}
  • Profile picture of the author JosephC
    Any chud with photoshop can make an income report.

    I don't care about how much money someone else makes. I care about how much money I make.
    {{ DiscussionBoard.errors[11157920].message }}
  • Profile picture of the author Steve B
    Joseph (above) is right . . . anyone can claim any income they want and make the image (if they use one) look like "proof."

    A University survey done a few years ago (sorry I don't have the details, but the outcome was shocking, I thought) . . . it suggested that nearly 3/4 of all adults surveyed admitted to "lying" online AND they didn't feel bad or wrong for doing so. The "takeaway" to me from this is that things posted on the Internet are not always as they may seem - and especially where someone might have something to gain from lying (like appearing to be very successful financially when they are not.)

    As a marketer, you are free to choose to use income claims or not - that's your business. But as a consumer, I think you would be pretty naive to buy something based on income claims.

    It's interesting because most serious businesses offline don't want their income advertised and they go to great lengths to keep it private. Even publicly held corporations go to great lengths to "hide" their real profit in their balance sheets and income statements.

    I agree with you and others that have stated that income claims may attract a certain type of prospect that you might prefer not to have.

    Besides, everyone's business is different and seeing a particular income laid out does not mean that it can be duplicated. The FTC warns consumers (and advertisers) about the pitfalls of such rhetoric.

    Just my opinion,

    Steve
    Signature

    Steve Browne, online business strategies, tips, guidance, and resources
    SteveBrowneDirect

    {{ DiscussionBoard.errors[11158049].message }}
    • Profile picture of the author ryanbiddulph
      This is a good point Steve. My friend Donna Merrill said the same via a comment on my Facebook wall, noting how many drawn to claims believe fully they can and will duplicate. When they don't, look out. Lots of resistance.

      On a side note, sharing the ups and downs of my blogging career, and travels, helps me be super duper honest and transparent. Which helps me sleep at night. Most Warriors know my blogging side but few know my travel side. Rather than show endless images of me in Fiji and Bali, only glamorizing the travel lifestyle, whereas I do share the sweet life but also my wild and sometimes difficult travel experiences too. The sickness, nearly dying, getting attacked, etc.

      I am not perfect, but goodness I do my best to be fully transparent in all areas that interest my audience. Even if it is gruesome
      Signature
      Ryan Biddulph helps you to be a successful blogger with his courses, manuals and blog at Blogging From Paradise
      {{ DiscussionBoard.errors[11158123].message }}
  • Profile picture of the author JohnMcCabe
    I would differentiate between the income reports (a la Pat Flynn and others) and income claims used to peddle pipe dreams to addicts.

    The reports are simple "this is what I did and this is what I made" reports, both good and bad.

    Income claims, on the other hand, tend to give credit to the method, system or trick rather than the efforts of the person making the claim. They want you to believe that simply owning the secret will duplicate the results for the sucker - I mean "buyer".

    I don't do income reports, but I have nothing against them as long as they're honest about revealing the highs, the lows and any extenuating circumstances.

    Income claims used to peddle pipe dreams are poisonous and should be exterminated with prejudice.

    As George Shinn (Mayor of River City, Iowa in The Music Man) said, "if there be those who are melting tar and gathering feathers, I will not say them nay."
    {{ DiscussionBoard.errors[11158086].message }}
    • Profile picture of the author ryanbiddulph
      Excellent John. I appreciate you expounding on that point.

      Pat seems as down to earth a super star as there is online. Even if he made income claims, he'd likely do so in an authentic way. But his reports aka recaps are just simple, helpful, step by step breakdowns of his experiences during prior months.
      Signature
      Ryan Biddulph helps you to be a successful blogger with his courses, manuals and blog at Blogging From Paradise
      {{ DiscussionBoard.errors[11158124].message }}
  • Profile picture of the author anayb
    Originally Posted by ryanbiddulph View Post

    Making income claims can be super effective.

    But you really want to be clear on using this strategy, to see it work for you.

    I never really went the income claim route because I clearly wanted readers, customers and clients who simply wanted me to teach them how to do something, versus having readers, customers and clients who were focused solely as seeing my blog as a quick way to earn money.

    I avoided many headaches and actually made more money using a no income report approach than I would have making the claims, methinks, because I'd never have aligned with such a loving, supportive tribe, who had spread my message like wildfire, who buys my products, who endorses me and who hires me.

    I know folks like Pat Flynn and John Chow who have tons of success sharing income reports. These guys were clear on going this route, enjoy it and built their brand on the concept. Awesome for them, I say.

    It bears thinking though; you really really really want to be clear on this idea before you go this route, or you risk attract hoards of desperate, greedy, unrealistic, fearful folks, who are looking for dough and don't want to be bothered with learning skills, helping folks, creating inspired products and services, and lifting up the IM niche.

    What's your take on sharing income reports?

    If you're clear on going that route, show your reports. But if not, and you are sharing your income from a desperate proving energy, you could attract a bunch of folks who are only interested in *getting*, and not much in *teaching* or *giving*.

    Your thoughts?
    Your topic is very good. I would like to add a few points. They're my own opinions and I could be right or wrong.

    True entrepreneurs build great products, NOT their personal brands. The BEST way to get famous is make amazing stuff. That's it. NOT Pat Flynn-type blogging, networking, etc. If you focus on helping to make great products that customers love, that will make you or your company more valuable and that's what matters.

    Business is about business. It's not about you. And when it becomes about you, that's when things go south.

    Making money, getting super rich, getting famous like stuffs have always been about challenging the status quo and questioning conventional wisdom in search of new and better ways of doing things.

    But, today's one of the most insidious fads is that people focus on others income reports; not only is that a complete load of nonsense, it's absolutely the worst advice for advancing your career and your business.

    At the end of the day, its an entirely individual choice, but I tell you THE MORE YOU BEHAVE LIKE DRONES IN A DIGITAL HIVE, THE POORER YOU BECOME.

    I got a couple of close friends, college friends who were featured as front cover in Forbes India; I guess they consistently make as much as 15-30 times what folks like Pat Flynn, Neil patel or John Chow make combined but these 800-pound gorillas, even though on the top, they never feel like they are.

    Remember, Pat Flynn-type blogs, social media, and email content is specifically designed to get you to click to generate ad revenue, subscribe to a service, or buy a product. Nothing wrong with that.

    But, when you consume, respond to their content, and if that boggles your mind, you essentially have a social media or content marketer taking the place of the brain's limbic system. Don't let that happen. Don't buy into popular myths. What you do with your career is your own business. Do what's right for you, when it's right for you. Follow your own path. Everything will work out fine.
    Signature
    Do you need an exclusive video product?
    Graphics Design - Motion Graphics - 2D & 3D Animation - Video Editing - Color Grading - Logo Animation - etc
    {{ DiscussionBoard.errors[11158131].message }}
    • Profile picture of the author ryanbiddulph
      I know a guy named Richard Branson who build his entire brand around him, and then, he builds companies around that....pretty sure he's made billions LOL. I have flown Air Asia 80 times. Every time I got on the plane, I thought Richard Branson, even before Air Asia, because Virgin owns them and the branding is so similar.

      But really, money does not respond to branding, or anything else. You either allow it in, or resist it. That is the fascinating part about this online bit. Some make money focusing on products. Other make money on their celebrity. Money don't care; it's just an energy. Let it in.

      At the end of the day, you said it.....follow your path, for that is the path that is the one that will take you the farthest.

      Thanks for sharing the in-depth response. Much appreciated
      Signature
      Ryan Biddulph helps you to be a successful blogger with his courses, manuals and blog at Blogging From Paradise
      {{ DiscussionBoard.errors[11159811].message }}
  • Profile picture of the author discrat
    Ryan, I think if it legit and it gets people to want to investigate you a little more, I think it can help effectively grow your audience in some regards.
    {{ DiscussionBoard.errors[11158179].message }}
    • Profile picture of the author ryanbiddulph
      Definitely Robert.

      Funny story too; I met John Chow yesterday. Cool dude. Income reports work for him. He is clear on 'em, and his personality works well in that regard.
      Signature
      Ryan Biddulph helps you to be a successful blogger with his courses, manuals and blog at Blogging From Paradise
      {{ DiscussionBoard.errors[11159812].message }}
  • Profile picture of the author Bayo
    The issue is a lack of trust and it's an issue primarily in the MMO/IM world.

    I've been in business for myself since 1995 and started to sell online consistently at the start of 2005.

    I've offered and continue to offer solutions based on my experience, know-how and expertise and refuse to take on board a client (person or organisation) that has to see income claims before doing business with me or before they believe I can help them.

    When I'm in the market looking for a solution or an expert provider (for an online solution) it's not the proof of income that makes a difference, it's how well they can give me the confidence that they understand my business problem and can help solve it.

    At the end of the day income claims are about you and to be frank, potential clients don't care about you, they care about themselves.

    If they care more about you and how much money you have made or claim to have made that could be a Red flag for trouble ahead.

    Bayo

    P.S. I actually backed off from offering products and services here on the Warrior Forum for that very reason.
    {{ DiscussionBoard.errors[11159435].message }}
    • Profile picture of the author ryanbiddulph
      Good stuff Bayo. You have clarity in who you want to attract. I don't share income reports and even built my brand around me, but am generous in sharing my experiences, as well as help, so folks buy in. I think of some clients and also course customers; they just got on board without even thinking. All I needed to do was show them how I can help them, and that was enough.
      Signature
      Ryan Biddulph helps you to be a successful blogger with his courses, manuals and blog at Blogging From Paradise
      {{ DiscussionBoard.errors[11159813].message }}
  • Profile picture of the author Bayo
    It is about being crystal clear about the type of person or business you want to attract.

    If your target market is in the group that want to see your "alleged proof of income" before they do business with you AND even though the FTC requires you to have income disclaimers, then you know the type of client/customer you're going to get.

    Bayo
    {{ DiscussionBoard.errors[11159861].message }}
    • Profile picture of the author ryanbiddulph
      Drop these folks pronto
      Signature
      Ryan Biddulph helps you to be a successful blogger with his courses, manuals and blog at Blogging From Paradise
      {{ DiscussionBoard.errors[11161670].message }}

Trending Topics