It’s time for my December 2017 income report!
I’ve gotten requests to do income reports more often so here we go!
Why income reports?
Income reports are important because they show you the profit and loss in my business. In other words, you see what I’m earning (gross) and what I get to keep after expenses (net).
In a world where business coaches and online marketers inflate their numbers all the time, I want to show you all the REAL DEAL when it comes to running a business online (so I’m restarting with my December 2017 income report).
I also want to show you that not all my money comes from coaching other coaches. I still make money as a content marketer, an influencer and coaching other types of business owners about building their brands online.
I’ve also personally learned a TON from following income reports. I remember following Michelle Schroeder-Gardner’s reports back when she was making about $6,000 a month and now she’s earning over $100,000 a month!
(P.S. Click here to check out her interview on my podcast. She drops some gems for making money online!)
And finally, I want to show you where I regularly INVEST money in my business. It costs money to keep this all going, and I want you to see where that money goes.
So without further ado, my December 2017 income report…
December 2017 Income: $11,393
December 2017 Expenses: $4,071.13 (includes a bill I accidentally forgot to pay the month before and hiring a PR professional for 2018).
Below you can see screenshots of my P&L report from QuickBooks:
- Asking for more money. I raised my rates for writing. One client alone is now paying me 50% more and I secured two new clients.
- Consistently pitching and selling: I never stop pitching or selling. Period. I pitched about six stories to one client only expecting them to take two. They took all six.
- Email marketing: This led to affiliate income, course sales and new students for my group coaching program.
- Offering different payment options for group coaching and private coaching clients.
- Investing in social media throughout 2016 and 2017. This has led to major brands wanting to work with me as an influencer.
- I have one hell of a brand. I know my market very well. This has allowed me to build my influence through content marketing. Click here to check out a free webinar where I teach you my three-step process for building your influence online!
What didn’t work:
- I accidentally forgot to pay a bill in November so I had to pay double for one service in December. It happens to all of us – even financial nerds. Also a sign that I need to take a chill pill and not travel so much for a little while.
- Lost a client. This happens to all of us to0. It won’t be the first or the last time. The good news is that I’m now confident in my ability to earn money so I’m not too worried about it.
What’s to come:
- Since I’m busy with clients and students, I no longer have time to do my own public relations. I’ve gone ahead started working with my brilliant colleague Josh Elledge of UpendPR (affiliate link) to step up my media game in 2018.
- I’ve been doing a lot of work lately as a spokesperson for influencer campaigns. This includes work with Florida Prepaid College, SunTrust AND Intuit! This is a big step for me and I’m really excited about what’s to come in 2017.
- I’m currently taking 12 amazing women through my Persuade to Profit program LIVE! I teach students the EXACT strategies I’ve used to build this business. Click here to book a free consult call with me to see if this program is a good fit for you.
Overall, a fantastic end to 2017. I’m also already on track to earn five-figures in January (maybe) and February (almost definitely) of 2018 so it looks like I’m on track to have a six-figure business by the end of 2018.
Resources that are mentioned or add value to this episode:
- Podcast Episode 36 with Michelle Schroeder-Gardner of Making Sense of Cents. She makes over six-figures a month from affiliate marketing on her blog!
- Making Sense of Affiliate Marketing (affiliate link) – Michelle’s course on affiliate marketing that I have taken!
- Make Money Your Honey With Freelance Writing – My course on how to get started as a freelance writer.
- Persuade to Profit – My six-week group coaching program that teaches you how to do market research and how to use that research to create offerings that sell like hotcakes.
- How to Make $50K As An Influencer – My free webinar that teaches you a three-step strategy for growing your influence online so you can get paid.