My Passive Income Report August 2012 – 2320.65

Hello everyone this is my income report for August 2012.

This past month I have been planning for  wedding and a lot of my time went toward that.  With that being said however, I have started writing a few new apps for iOS.  Most of my issues from last month have been resolved and I am back in creating my soundboards.  I also spent some time working on setting up a system to sell the source code I have created to help other create a Passive Income stream.  Well with that being said here are my results from August, as you can see I had a 20% increase over July with is always good. However I was not paid this month by Microsoft since I did not sell enough.  I expect next month to be low, since the iPhone is coming and people are beginning to save for the holidays.  Take a look at my numbers and drop me a comment if you have any questions.

Apple App Store  – 1925.79

Amazon App Store – 227.01

Google Play – 167.85

Windows Marketplace – 0

For a total of 2320.65

Mike

How I discovered my app niche

With the success of the mobile app marketplace people from all over the world are creating new and exciting apps.  With so many apps being created everyday, I asked myself, How could I make money when there are people far smarter than me.  This question took me several months to answer, and was actually answered while sitting in a meeting at work.  I was in a meeting and one of my co workers said something that was a little stupid.  My boss commented he wished he had an app that he could press a button and a buzzer would sound or something else show it was a stupid idea.  Thats when a light bulb when off in my head.  I could make these apps and sell them to people and make money.

Where to start?

I first needed to figure out what platform I was going to write my code in.  I choose iOS and needed to so research on how to get started.

I needed to sign up for a Apple Developers Program ( $99)

Needed to purchase a Mac ( I choose a Mac Mini $599)

Next I had to figure out how to code ( These books help me get started)

• Beginning iOS 5 Development by  Wei Meng Lee
• Beginning iOS5 Development: Exploring the iOS SDK by Jack Nutting
• iPhone App Development: The Missing Manual by Craig Hockenberry

I have an Idea and everything I need, Now what?

Next I needed to find a website where I could buy sounds.  I found Soundboard.Com this place has tons of sounds for free and for purchase. As you look through all the sounds I began to think,”Should I make one big app or many small apps? Should it be free  and use ads or charge for it? ”  At the end of the day I decided to go with singular soundboards costing 99 cents.  The reason I did this originally was one people are only looking for a certain type of sound and having more would require them to search the app. Second I chose 99 cents because once it is purchased I get my share.  I don’t have to worry about people clicking my ads to get paid.  Third it opens up a lot more keywords.

Through my experience people who do have killer apps make a ton of money, however if someone really takes a hold of a niche market, such as I did they also make a pretty nice Passive Income from all of their apps.

In my next post I will be going my June profits as I will be getting paid this coming week.

Cheers

Mike

My Apps Page Just Posted

Hey Everyone, Hope all is well.   Tonight I posted a page on my site called “My Apps”  The purpose of this page is to show you all the apps I have created and allows you to take them for a spin.  As you will see many of my apps are niche soundboards.  So far since 2010 when I figure out my niche I have made around $20,000 a year on them. You may think well that’s not a lot of money is it?  Your right it isn’t but it is PASSIVE INCOME. I built each one of these apps once and they will continue forever to make me money.  The figure I mentioned above is only for iOS apps also.  As I add the links for other marketplaces I will explain my income on those as well. Another place to see my passive income will be my monthly summaries I will be posting that the first week of every month for the past month.   Again take a look at my apps and play with them.  My next posting will focus on how to find a niche for apps in any marketplace.

Until then, Take Care

Mike

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Business Registered – Now getting your Mac Setup

Before You Start…

Do I have to own a Mac in order to develop for iOS?

• In one word: YES.
• I started off with a mac mini, the smaller and cheapest mac around.  All you need is an old monitor , keyboard, and a mouse and your pretty much all set to start coding.
• Next I would find some books to get yourself ready for coding in the iOS world. Below are some of the books I used to get started ( Some of these are newer since I started off on iOS 3  and we are on 5 almost 6 now)
  • Beginning iOS 5 Development by  Wei Meng Lee
  • Beginning iOS5 Development: Exploring the iOS SDK by Jack Nutting
  • iPhone App Development: The Missing Manual by Craig Hockenberry

Does it cost me money to develop iOS applications?

• The iOS Developer Program costs 99$/year. It lets you have the development environment , and the ability to install your apps on up to 100 personal device, and deploying them to the App Store.

Thanks again for taking the time out and reading my post.  I am still working on getting all the info up on my page so please bear with me. Once I get all my pages up. I will start talk about my apps and how I market them as well as what else I am currently working on and planning.

Like I said before if you don’t have your own business started yet, check out Resources For Success page and start a LLC.  It will save you a ton of money in the long run trust me.

Until Next Time

 

Cheers

Mike

 

 

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