Better late than never, I’ve just finished writing up my goals for 2018, as well as reviewing my 2017 goals. Before we dive into my goals for 2018, let’s review 2017.
Business Goals in 2017
I had three very ambitious goals for 2017, unfortunately, I didn’t hit any of the three below. However, I was still able to generate over £400,000 in turnover and £295,000 profit which is awesome.
The second goal was probably the most ambitious, at the beginning of the year I had a few sites which were growing relatively quick and the forecast was based on those websites continuing to grow at the same rate. However, a handful of these sites seemed to drop off in March and April 2017, one of which was the authority site project. I believe the reason for this is mainly due to a large number of pages without content, I will be discussing this in more detail in a future post. Due to this, I didn’t see much growth in some of the newer websites I was working on, therefore revenue didn’t grow as much as I’d of liked it to in 2017.
The third goal I only began to work on in the last quarter of the year, I was able to get my revenue up to £1,000 a month, but I’ve not yet hit £5,000 I will definitely hit this goal in 2018 though.
- To hit £1,000,000 in revenue generated in 2017 (website income & sales)
- To hit £100,000 in monthly revenue (digital income only)
- To hit £5,000 in Amazon UK income
Personal goals in 2017
Weird, I thought I’d achieve all of these quite easily and quickly. I completed the second goal, passing my driving test back in June 2017 and it’s been amazing being able to drive and I enjoy it thoroughly. After I passed my driving test, I was far too focused on driving to consider doing my full motorbike test so this has been pushed back to the first quarter of 2018. I am absolutely 100% going to pass my full motorbike test between January – March 2018, as I am off to the Isle of Man TT race in June 2018.
As for purchasing a property, well I did put an offer in on an apartment in August 2017, it was accepted and then we began the process. Unfortunately, this is still on-going, due to a change in the building regulations and fire regulations as a consequence of the Grenfell Tower fire which occurred in June 2017. Basically, this entire purchasing process has been massively stressful, time-consuming and honestly, I am not entirely sure its worth it.
- Pass full motorbike test
- Pass driving test
- Purchase property
Overall, 2017 was a very positive year, considering a few of the websites I was growing failed to flourish, I still had significant growth in revenue from earlier websites I’d built. From an industry perspective, we’ve been hit hard with Google pushing more updates live, as well as larger companies beginning to compete with us on a niche level by building huge websites and leveraging their own networks to shoot them up in the SERPs. In 2018 this is only going to get worse, the level of standards for those building Amazon affiliate sites will continue to grow, as competition from larger media companies adds more pressure on us to improve our websites.
Goals for 2018
For this year I am trying to have an improved approach to achieving my goals for the year. As well as having large goals for the entire year, I will be creating weekly and monthly goals, these will be a reflection of the larger goals for the year and will help me to progress towards them.
For example, if one of my goals is to hit £5,000 per month on Amazon Associates UK then a goal for January could be to publish 50 pages of content on one of my UK based Amazon websites.
Business Goals for 2018
Organisational Structure & Accounting
It is critical that in the first quarter of the year I get advice on how to best structure my company from a tax and future planning perspective. Part of my January goals is to consult with several accounting firms, wealth management firms and so on to try and understand what I need to do in order to best structure my company and invest my capital. I only have a few action points for this section so far, I will add more once the key action points become clearer.
- Launch a property development/investment company
- Launch a stocks & shares investment company
- Setup company pension and carry forward
- Setup personal ISA
- Choose accounting firm and additional agents to work with
The monthly revenue target for my affiliate business by December 2018 is £50,000 per month. This will include revenue channels such as:
- Amazon Associates UK & USA I am aiming for £35,000 per month.
- Third party affiliate programs related to my niche/authority websites of £15,000 per month.
Other sections of my larger business portfolio such as cryptocurrency investing and mining and property investments will be discussed below as they will be measured on a quarterly basis or general asset value/increase rather than monthly earnings.
This is an area I began taking an interest in June 2017, when I invested some loose change into Bitcoin, Litecoin, and Ethereum through Coinbase as a test. It went well from an investment standpoint and I continued to invest time into research the entire cryptocurrency market.
In 2018 I want to increase my investments into holding various coins, as well as expand my mining setup that I began in December 2017. I also want to look at alternative methods of generating a passive income in the cryptocurrency space, such as setting up master nodes, mining pools and potentially launching a crypto related Youtube channel and website.
For 2018, these are my initial crypto related goals:
- Mining – to generate at least £5,000 per month in passive income
- Investing – to invest at least £50,000 throughout 2018 and achieve a 25% growth
- Master nodes – to set up at least one master node
This is a completely new area for me, so it’s difficult to put some specific financial goals in place here. A significant amount of time in the last quarter of 2017 was spent digesting information on this market. If I imagine it is the 31st December 2018 and I am reflecting on the year, specifically the crypto side of my business, I will be extremely happy if I am able to have all my mining startup costs paid for and to have made at least £25,000 profit on trading for the year. I’ve also been considering launching a Crypto related website, similar to One Mans Brand, but focused solely on crypto investing and mining. However, I am not 100% sure on this yet, I really need to figure out my main priorities and also what time I will have available.
Amazon Associates & Affiliate Business
2017 was definitely the year my affiliate business flourished and I was fortunate to be able to generate more than £350,000 in commissions from my portfolio of niche affiliate websites. The majority of this was extremely passive income, from websites I’d invested significant time into in the years prior to 2017.
Below are my financial goals for the affiliate business in 2018, you will notice the revenue goals are quite low, considering what I generated in 2017, there is a reason for this, which I will explain at a later date.
- To hit £10,000 per month in revenue from Amazon Associates UK
- To hit £25,000 per month in revenue from Amazon Associates US
- Launch at least one niche site built entirely by myself, no outsourcing, all content creation completed by me with products purchased and tested by myself.
The final goal is one I’ve been really wanting to do for a long time now, I am a bit disheartened with the whole Amazon affiliate business model, there are still very few really good affiliate websites that I’d recommend to a friend. More importantly, very few of my own websites I’d recommend to anyone and that is a big deal for me. I’ve been toying with the idea of launching a niche Amazon site where I do everything from buying the products, testing, reviewing and publishing the content and of course, all the marketing and I am 100% prepared to do this now. I have already got the niche, the domain, and brand – I will be launching this website in a few weeks and it will initially be focused on the UK market.
One Mans Brand
Unfortunately, OMB took a backseat in 2017, I am a bit disappointed with that. However, I never really had any big-picture goals for OMB and I still don’t. I can’t see where this fits into my business as a larger priority, so, for now, I will try to post once per month until I have figured out where it sits amongst the business assets.
As for the Amazon course, I am still not 100% sure about launching a full-blown course, for a few reasons, but mainly because there are already so many people pushing Amazon courses, I really don’t see the point in creating one myself. However, I really want to do something around helping people grow their Amazon earnings. I am thinking it is more likely I will set up some sort of Amazon mastermind, where I help mentor/assist 25-30 people at any given time and provide them with full access to a new website I start so they can see how I do it, maybe that would work? I would have to charge people though, I know you might read this and go, well why Will, you are earning loads of money! That might be the case, but I am still working hard and if I were to help teach others I’d need to have some sort of monetary gain otherwise I’d not put enough energy and passion into it. Maybe if I had £100 million in the bank I’d do and not even care about the time I am investing 😛
- Post at least once per month on OMB
- The Amazon Affiliate Course / Mastermind / Mentoring
Personal Lifestyle Goals for 2018
Fitness & Health
- Drink at least 2 liters of water per day – this is relatively easy for me to do, especially when I have 500ml bottled water in my fridge at home. For some reason, I can drink far more water when I have bottled 500ml water compared to having bottled 2litre water, funny really.
- Create a strict diet – I’ve already begun working on this and whilst I work on figuring out what I need to be eating and the quantities, I am reducing all of the bad stuff (alcohol, snacks, sugary foods) from my diet and replacing them with low carb / high protein meals or snacks.
- Reduce body fat to just 12% – as it says.
- Read at least 1 book per month – this shouldn’t be difficult, but I will need to be organized, and start at the beginning of the month and stay focused and ensure I read at least a chapter every few days.
- Travel to 12 new countries – I don’t want to be traveling to the same countries I’ve already visited and if I do, I want to make sure I travel to new surrounding countries. I also want to explore more of Europe this year as I’ve done such a small amount of Europe, which is a little embarrassing since it is so close to home.
- Attend at least two classical concerts – I am a big fan of classical music, so I am determined to go and see at least two classical composers, I would have said one but I am actually already going watching Nils Frahm in February. I would like to go and see Max Richter, I wanted to see him last year but unfortunately, I had something planned for the day.
- Go to at least one music festival – it’s been years since I went to a proper music festival, so this year I want to make sure I go to at least one. I wouldn’t mind going to Glastonbury again as it was amazing last time.
- Continue playing guitar – I’ve been playing a few hours of guitar each week, I want to increase this to a minimum of 5 hours per week and focus on learning new songs.
This is just for my materialistic taste…
- Purchase my first Rolex – already got my eyes on a GMT Master II, it’s a simple, clean looking Rolex that isn’t too blingy and one I’d imagine if I wore many people wouldn’t even notice it’s a Rolex, which I like.
- Purchase my first Porsche – already seen the Porsche I want, went for a test drive last week, now I am just weighing up my options, researching insurance, private garages e.t.c and really trying to figure out if I want to buy this right now as the weather is absolutely shite.
- Purchase my first property – more than likely, my first property purchase will be through my new company as I am a bit demotivated to go through the entire process of purchasing a property again personally.
Right, I am going to wrap things up here – even though it’s the 18th January, I feel like some of these goals have been rushed, I might have missed out a few sections as well so I will most likely come back to this in a few days/weeks. However, for now this gives me a good enough foundation to begin laying the building blocks on.
If you have any questions, comments, feedback or just want to shoot the shit, comment below!