Hey! I’m Ben.
I have a wife, three children and am based in the United Kingdom.
At the moment, I have a career that I’m enjoying, as well as ‘side hustles’. In my day job, I’m an accountant at a Top 30 firm. It doesn’t sound too fun, but I get to play with spreadsheets and automate quite a lot of processes, so the geek in me enjoys it.
I guess I’m what you may call a ‘wantrepeneur’ in that I want to run a business (well, own a business, and have someone run it for me) but also have the stability of a career. My side hustles will only ever be that – side hustles – but if all goes to plan, the income generated from them will exceed that of my day job.
I’ve ran multiple small websites in the past but none with any level of success. Over the past year I stepped away from running these to focus on gaining more experience in other areas. Now, I’m back, and I’m focused.
To be honest, I can’t afford not to be focused. Children are expensive!
The purpose of this website
Assuming that I run at a 90% profit margin, with the only real cost being advertising of services and a Virtual Assistant, the required monthly figures are broken down below.
Costs: £685.90 (assuming 10% of turnover)
Corporation Tax: £1,172.89 (at 19%)
Profit after tax: £5,000
That’s a decent of money to try and bring in each month.
Breaking this down further…
Per month: £6,859
Per week: £1,578.59
Per day: £225.51
Per hour: £9.40
So, in theory, if I were to build income streams – passive or not – that turnover £9.40 per hour, and I were to spend less than £0.94 per hour, I can hit my goal (or at least get somewhere near it). The target turnover is less than my hourly rate, so I need to find a way of replicating myself to work around the clock.
I’ve set out a quarterly timeline below, as well as including my monthly reports towards the goals.
Setting my targets
By the end of June 2020 I aim to have this website live. It’s not much of an ask, but considering the task of homeschooling while working full time due to Covid-19, it’s a challenge.
As well as this, I’m hoping to overhaul the Jenksdev.com website to simplify my offerings and maximise my return on time investment.
I’ll launch a mini-website – Whatsizepizza.co.uk – to drive traffic back to this website. It’ll be a bit of a gimmick website, but the type to go viral for almost no reason. Will it go viral? Probably not, but I left it live during building to see what kind of traffic it got, and it was averaging 50 visitors per day. Not too bad for an unfinished site.
I’ll also be launching VirtualTrs.com – a database of online tours that I collated during the lockdown phase of 2020. There will be tours ranging from the International Space Station to Buckingham Palace – a wide variety indeed. The idea has received good feedback from people I’ve spoken to about it, so let’s see if it lives up to the pre-launch hype. Update: this website won’t be built on WordPress, but rather Ghost.
While building these, I will press on with the JenksDev agency to obtain greater cashflow to purchase domains for future ideas. The cashflow from JenksDev will be used to partially fund a Virtual Assistant to help manage the other projects, and add content to them.
If all has gone to plan, by the end of the year I will be just under 25% of the way to my goal. I’ll use this quarter to build my WordPress course, for which I’ve acquired the domain MyWPCourse.com. It’ll be a charged course (I’m thinking £19), showing people how to find and set up a web host, get going with WordPress, use Elementor and connect ConvertKit. These are three tools that I use daily, and would be proud to show others how they function and work together well enough to use as a foundation for an online business.
This will be large project as I want to cover all bases, and really push the affiliated products that I’ll be working with to build long-lasting recurring income.
To help market this course, I’ll need to build up a Twitter following and then utilise affiliates to help sell the course for me. I’m leaning towards allowing sub affiliation too, meaning that if my affiliates refer others that become affiliates, they’ll get a slice of the action too. If I offer my affiliates 50% of the income, and allow them to earn 25% of what their affiliates refer, the cost base will be something like:
Course cost: £19.00
Affiliate sale: £9.50
Sub affiliate sale: £2.38
So Affiliate#1 would earn £9.50 on any sales that they refer. If they referred others to be affiliates, then Affiliate#2 would earn £9.50 for a sale, and Affiliate#1 would earn £2.38. This means the least that I ever walk away with for a sale would be £8.01. I don’t think that’s too bad.
By March 2021 I would expect to be over halfway towards the goal – but only just.
At this stage, I will have this website, the JenksDev agency, VirtualTrs, WhatSizePizza and MyWPCourse.
Nothing new to be launched here. Three small projects and managing a small agency is enough. Let’s not forget the day job too.
The end of June 2021 will mark a full year since I wrote these goals. I have no intention of changing these goals – only adding to them. My goal reports will measure the progress against them.
I don’t expect to have achieved the full target here, but I would hope for 60-80% of it if I focus and put the hours in. That being said, work smarter, not harder. Hiring a Virtual Assistant when possible will help me to grow the existing portfolio.