Welcome to my July Income Report! Each month I publish an income report to take you behind the scenes of my online business and reveal exactly how much money I make, how much I spend and lessons learned along the way!
You can check out Part 1 where I review my income and goals here.
If you want to learn step-by-step how to build a website so that you can start a side hustle and make money online, check out this blog post on how to get started!
View all of my income reports here!
EXPENSES BREAKDOWN
TOOLS
- 1Password for Teams – $143.64
- AccessAlly (Membership plugin for all of my courses) – $79.00
- Acuity Scheduling (Done For You Consultations) – $10.00
- Adobe Creative Suite (Photoshop, etc.) $54.73
- Auphonic (audio optimization for podcast) – $11.00
- Bluehost – $0
- ContentSnare – $29
- Cookiebot (GDPR Compliance) – $24
- Dropbox (File Storage) – $19.99
- Flywheel – $100.00
- FreeConferenceCall.com (Coaching & Client Calls) – $3.00
- GSuite (wp-bff.com Email) – $10.76
- Infusionsoft (email marketing, automation, e-commerce & customer management) – $321.34
- LibSyn (Podcast Hosting) – $20.64
- ManageWP (WordPress Site Management for Clients & WordPress Protection Package) – $98.89
- Smart Podcast Player – $6
- Soundup (Alexa Flash Briefing Hosting) – $9.99
- Zapier – $15.00
- Misc Plugins – $135.00
TOTAL: $1091.98
Marketing
- Bonjoro (Video Welcome Service) – $25.00
- CoSchedule (Social Media Scheduling) – $59.00
- LinkTree Pro (Instagram Profile Links) $6.00
- Tailwind (Pinterest) $0
- Facebook Ads – 186.66
- Creative Market Templates, etc. – $34.70
TOTAL: $311.36
PROFESSIONAL SERVICES:
Bench Accounting – $135.00
TOTAL: $135.00
HELP:
Subcontractors
TOTAL: $1645.00
LEARNING/MENTORSHIP
Misc Audiobooks
TOTAL: $39.98
TRAVEL
$300 – AirBNB for Girlboss Retreat in Austin in September
FEES
Credit Card Processing Fees: ~ $200
OFFICE SUPPLIES
$0
TOTAL EXPENSES: $3618.16
NET PROFIT: $3859.01
BIGGEST LESSONS LEARNED
As I reviewed my numbers for July, I see that my expenses are still higher than I want them to be for what I’m generating in revenue.
And while I do believe that I must invest in my business in order to grow, I have to invest wisely, with focused intention.
That philosophy applies to both time and money, because not only am I spending more money than I want to and not getting the ROI I want to get, I’m also spending more time than I want to and also not getting the ROI…
So you know whose fault that is? Mine.
My July income report is a clear representation of me winging it. Giving into the relief of not worrying about money and then making totally random decisions about how I spend my time (I’m looking at you, Bluehost Birthday Sale) and chasing shiny objects (Pinterest, that’s you. Definitely important, but I didn’t plan for you, Pinterest!).
Yes, I’ve got my schedule and I was planning my week every week, but if how I’m spending my time doesn’t tie out to an overarching, clear goal? What’s the point?
Oh my gosh, imagine what I could do with solid systems, a concrete plan, and laser-focus?
That’s exciting to me. And that’s why I’m planning to do my own little mini-retreat so that I can go off and make some decisions about what I want to focus on for the rest of the year and in 2019 and create a plan, a budget and BOUNDARIES to make it happen.
And as I plan for the rest of 2018 and for 2019, while I have a strong focus on increasing revenue, I’m going to look at realigning my spending on expenses to make it happen.
Today’s pep talk is brought to you by Bluehost. Go to www.shannonmattern.com/bluehost and get 36 months of web hosting for just $2.95 a month. That’s less than one trip to Starbucks a month – and if you’re anything like me, you’re at Starbucks more than that!
Then you can sign up for my Free 5 Day Website Challenge at www.shannonmattern.com/5day and I’ll show you step by step how to get started building your new website for your side hustle.
