On today’s episode of the Unf*ck Your Biz with Braden podcast I share my May profit report, breaking down my revenue, expenses, and if I hit my monthly goals. If you haven't already, check out episode 225 where I give April's profit report and share my May goals.
My goal for the year was to hit $15,000 a month in revenue. I hit that goal in January and have not hit it since. Doing these profit reports not only, hopefully, provide you insight into the profit of a fellow business owner, they also help me review my own profit and also get me a better understanding of my baseline revenue. To me, baseline revenue is the number we can hit by doing whatever it is we do consistently every week. I encourage every business owner to learn and track their baseline number. For me, these consistent tasks are putting out a podcast episode each week, sending out a weekly email, posting a social post for the podcast, a mild average amount of Facebook interaction, one speaking engagement a week average, and typically Instagram stories daily. A lot of my base revenue comes from my monthly membership. Right now it's close to $7,000 and then I tend to make an extra $2,000 a month from the other things I sell. Trying to go over my baseline of $9,000 requires extra promotion like a launch of some kind or an email promotion which requires me to work more than my usual default.
Last week on the podcast I shared my interview from Claire Pelletreau's podcast where we talk about how I get paid and Claire posed the question of how special promotions impact or take away attention from the typical promotion of my usual products.
I decided to make May a chill month. I was traveling and it was Memorial Day and I decided I wasn't going to do any of the "extra" or "bonus" work that goes into getting above the baseline.
To recap my May goals:
- $6,300 MRR (monthly recurring revenue)
- $400 in Speaking fees
- $2,000 in affiliate commissions from my sales of The Abundance Group
- $900 in 30 Contract Vault sales. I contemplated a price increase promotion, but decided against it.
So now let's talk about what ACTUALLY happened.
MRR is now at $6,950. 🥳 with 9 new members. Yay!
$1,470 in Vault Sales (49)
Affiliate Income: $450
Have a follow up questions or want to meet some fellow kickass biz owners who also are trying to get their shit legit? Come be a bestie and join us in the Facebook Group.
You'll learn: what the three mistakes are; how to fix them; and also how to work with me to get your legal & tax shit legit.