Hey, there! If this is your first time stumbling across my income reports, please start with January 2015 to see why I’m doing this and how I plan to break each month down.
Each month I would like to share:
- How much I earned
- How many payments I received (Ex: 10 payments for 5 projects instead of 47 flyer design payments)
- How much I spent/invested
- What I spent it on (resources)
- What I learned
- How many hours I worked (I’m so bad at tracking this)
- YTD Earnings
Please let me know if there’s anything you want me to include in the income reports. If it’s a general question about my finances, I’ll be happy to write a blog post on it.
The number in parenthesis will indicate the difference from the previous month
Red = Lower Than Previous Month
Green = Higher Than Previous Month
Black = Stayed the Same as Previous Month
Here’s Month 7.
July 2015 Earnings:
Blogademics: $910.00 ($2,000)
BRNDWCH Design Projects: $1600.00 (1,611)
Personal Branding Masterclass: $1,843
Total Gross Revenue: $4,948 ($1,333)
June 2015 Expenses:
Design Intern/Contractor: $195 ($155)
CoSchedule (Social media automation): $10.00
Microsoft Office: $10.71
PayPal Pro: $19.99
Adobe Systems: $32.16
InfusionSoft (CRM System): $249
BlueHost: $23.98 ($11.99) – I’m addicted to buying domain names
GoDaddy: $17.17 ($2.00)
Macbook: $350 – Final payment, woohoo!
Total Expenses: $1,935 ($176.79)
Total Net Profit: $3,013 ($1,156)
What I learned:
I can’t believe I survived the month of July. No one can ever say I don’t know the struggle. EVERYTHING has changed since June. When I got back from LA, everything was packed up for my move to Atlanta. I’m grateful that my boyfriend took care of all of that while I was away. I got a pretty bad injury the night before we left Charlotte, and then I had to go to Urgent Care in Atlanta. The antibiotics I was on made me throw up, and the Atlanta weather made my allergies horrible. It took me weeks to adjust and find structure in a new city and new living situation (sans boyfriend). Through all of the madness, it was still amazing being closer to my family.
I hopped on the Periscope wave, got 1200 followers in two weeks, and started to build on my existing brand with my sister, Mattie. I wrote about why I love Periscope so much, and I think it played a big role in my income this month. I built trust with a new audience immediately, and turned them into customers. I launched my second passive income project at the end of the month, a personal branding masterclass, and I was SO grateful for the outcome. I generated $2k in sales (you can read about how I did it here) which allowed me to take a HUGE sigh of relief after a strenuous month.
If you’ve been following my income reports for the last couple of months, you know that I’ve been struggling with my transition from designer to full-time coach. Aside from wrapping up existing contracts, I have FINALLY made the leap to coaching full-time. I wrote about why I decided to let go of my successful design business here. My biggest takeaway from this experience is that transitioning from one business to another if JUST like leaving your full-time job for entrepreneurship. Designing for clients became an unfulfilling 9-5 that I no longer wanted to be apart of. It gave me a chance to really connect with my audience who has been wanting to take the leap, too.
Although I consider this a low month, it was amazing to generate more than 50% of my income from my coaching courses & programs instead of design. It lets me know that I’m actually on to something.
Things I need to improve on:
- Not getting attacked by dogs
- Creating systems, processes and structure for coaching
- Continue writing my memoir
- Take my health more seriously
Things I did well:
- Had an amazing interview on Jenny Purr’s podcast. (I love this girl!) I definitely built my audience from that.
- Launched my free personal branding email course
- Utilized Periscope as a teaching platform
- Planned for August
I’m still horrible at tracking hours. I only worked for about 2 and a half weeks with moving and adjusting.
What have you been working on in your business lately? I want you to set a monetary goal that scares you and aim for it! What’s your number? $1,000? $2,000? $5,000?