Episode 225: April Profit Report

biz entities solo show May 05, 2022

On today’s episode of the Unf*ck Your Biz with Braden podcast I share my April profit report and break down my revenue, expenses, and if I hit my monthly goals. If you’re new to the podcast, check out episode 186 where I reintroduced Profit Reports back to the podcast. 

 

My goal for this year is to have $15,000 months, and my goal for April was to have an $18,000 month. So far, I only hit $15,000 in January, and $9,000 months seems to be my baseline each month that I can hit by doing what I do every week.

 

Each week I release and promote one podcast episode, I post in my Facebook group a few times a week, post to Instagram stories daily and on the feed 1-3 times a week, and average about one guest speaking assignment a week. From there, to increase revenue I can send an additional promotional email, offer a flash promotion, pay my contractors to do more work on my behalf, or offer 1:1 services.

 

On around the 20th of each month is when I run an...

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Episode 223: Copyrights and Trademarks

biz entities solo show Apr 21, 2022

On today’s episode of the podcast I chat with Joey Vitale, trademark lawyer and owner of Indie Law.

 

Copyrights vs trademarks

Copyrights protect your content, trademarks protect your brand. For example, when you walk down the cereal aisle of your business, the trademarks are the packaging (things like business name, logo, slogan, title of your podcast, etc.) and the stuff inside the cereal box (the content you’re taking, the posts on your website, etc.) and that’s where the copyrights come in. 

 

Trademarks are not to protect you, they’re to protect consumers. For example, imagine there was no rule and any tech company could call themselves Apple, consumers wouldn’t know who they could trust.

 

The sign of a trademark, lawyers refer to it as source identification, when a name or phrase is mentioned and people can automatically identify the source behind that. For example, Disney having the trademark behind Hakuna Matata. 

...

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Episode 221: March Profit Report

cash flow solo show Apr 07, 2022

On today's episode of the Unf*ck Your Biz podcast I review my March profit report and discuss my plans for Q2. If you’re new to the podcast, check out episode 186 where I reintroduced Profit Reports back to the podcast. 

 

I don't think enough business owners share their numbers and if I'm teaching you how to be more profitable in your business, I think it's important to share more about mine. I'm starting to call it the client to piggy bank pipeline - how to get more of the money you're getting from your clients into your personal bank account while saving for taxes, covering expenses, and legally protecting the money that you're making from lawsuits or fines. Every business looks different, so consider my profit report just an example.

 

My goal for year is to have $15,000 months, so a $45,000 Q1. I slightly exceeded my goal in January with $16,000. February was a bit of a down month with $9,000. I did a lot of promotion in January. In February a lot of the...

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Episode 219: My Hiring Case Study

biz entities solo show Mar 24, 2022

 

On today's episode of the podcast I continue the Hiring Series with a case study focusing on my own latest hiring process.

 

The doors are open to the Profit Rx Content-Only membership. For just $30/month you can get access to all my tax and legal resources on demand. Get your access here.

 

Last year I did Part 1 of the Hiring Series (start with the first episode of Part 1 here) and now I am continuing my Hiring Series Part 2. If you missed the start of Part 2 last week, go back and check out Contractor Laws State-By-State. Today I am diving into Module 7, Lesson 5 of Profit Rx with info on Contractor Onboarding and my own personal experience with hiring my latest contractor.

 

Recently I was following a discussion on Facebook of an interior designer who hired a photographer for photos of their designs. The photographer asked why the designer wanted to send her a 1099, and the majority of photographers in the comments said no, she shouldn't get one because...

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Episode 218: In Which States Can You Work With Contractors?

other legal solo show Mar 17, 2022

 

On today’s episode of the podcast, I discuss state-by-state independent contractor laws. 

 

This week I announced the launch of my new offer. I’ve restructured my signature program, Profit Rx, so you can join the membership for just $30/month and get access to basically everything I’ve ever created about taxes, profit, business entities, legal protection, contracts, and more. Get access to all of these templates, resources, and trainings for just $30/month before the price goes up next week

 

Wedding pros, this week only you can get access to Renee Dalo’s Profitable Pro Bundle, which includes 2 free months of my Profit Rx membership along with 19 other incredible resources for wedding professionals to make your business even more profitable, for just $97. Access to this bundle ends tomorrow so get yours today. 

 

This is not an A to Z guide to hiring, that would be a law school-sized text book. I am focusing on areas of...

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Episode 217: Getting Started with Sales Tax

sales tax solo show Mar 10, 2022

On today's episode of the Unf*ck Your Biz podcast I discuss everyone’s favorite topic - sales tax. 

 

Coming up on March 14th at 9am PST I am hosting an Open House. I'm calling it the anti-webinar and if you've been curious about how to get access to all my resources or work with me, I'm going to be sharing a new offer in order for you to have me as your tax and legal friend on demand (and this offer will include access to information on sales tax). Unlike 1:1 legal services, you'll have all the tools and resources you need at your fingertips at an extremely accessible price point. Click here to register for the Open House

 

The tricky thing about sales tax is that it varies state to state and it can feel like a total mystery to everyone. We know we pay sales tax when we buy stuff at the store, but how does it apply in the context of our business? 

 

Sales tax has nothing to do with income taxes. Read that again. Sales tax is a...

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Episode 216: February Profit Report

biz entities solo show Mar 03, 2022

On today's episode of the Unf*ck Your Biz podcast I review my February profit report. If you’re new to the podcast, check out episode 186 where I reintroduced Profit Reports back to the podcast. 

 

Coming up on March 14th at 9am PST I am hosting an Open House. I'm calling it the anti-webinar and if you've been curious about how to get access to all my resources or work with, I'm going to be sharing a new offer in order for you to have me as your tax and legal friend on demand. Unlike 1:1 legal services, you'll have all the tools and resources you need at your fingertips at an extremely accessible price point. Click here to register for the Open House.

 

Spoiler alert, this was not my best profit month. In fact, I didn't even come close to my February profit goal, but that's business.

 

On January's profit report (listen here) I talked about my goals for 2022. We are trying to book 25 PR spots each quarter. I have a goal for downloads of my own podcast so...

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Episode 215: Bookkeeping Basics

biz entities solo show Feb 24, 2022

On today’s episode of the Unf*ck Your Biz podcast I discuss bookkeeping basics and how your bookkeeping can set you up for tax season success. 

 

It’s not too late to register for the Tax Season Playbook! Sign up at www.bradendrake.com/playbook to finalize your books, organize your tax documents and get ready to file your 2021 taxes. 

 

On last week’s episode we discussed tax deductions. In order to get these deductions you must have record of them, and be able to provide proof of them if you are audited. That’s where bookkeeping comes in. Your books must show your gross income, expenses, deductions, credits, and a record of your business transactions. You can use any record keeping system. You don’t need anything fancy or paid, a spreadsheet works great. Certain business entities require more specifics. For example, a partnership agreement or operating agreement, this is especially important if you plan to offer stock in your...

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Episode 214: The Most Overlooked Tax Deductions

income tax solo show Feb 17, 2022

On today's episode of the podcast I highlight some of the most overlooked tax deductions that entrepreneurs are missing.    

Don’t forget, the Tax Season Playbook is available for purchase! The Playbook is a 3 week, semi-live course to help you prepare and file your taxes. Through this program I’ll help you organize your tax documents and bookkeeping and we’ll have a tax filing party that ends with you being all set and filed! Also, stay tuned, the release date of the Profitable Pro Bundle has been rescheduled for later this year. The playbook starts next week so get yours today!

 

 

Most overlooked tax deductions: 

  1. Commissions and fees - This is the title of a category on a Schedule C. When I mentioned commissions and fees I want to talk primarily about processing fees. Let’s say I charge you $1,000. There is then, let’s say, a 3% processing fee that comes off the top from your payment processor. $970 enters your...

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Episode 213: January Profit Report

cash flow solo show Feb 10, 2022

On today's episode of the Unf*ck Your Biz podcast I review my January profit report. 

 

I am passionate about helping business owners build profitable businesses and increase their take-home pay. By sharing my own profit reports and how I plan for my own business and personal expenses, it is my goal to help othe business owners put these topics into context for themselves and increase your profit. If you’ve missed my previous Profit Reports, check out episode 186 where I reintroduced Profit Reports back to the podcast. 

 

To start, I want to share a few of my goals for the year. One of my big goals is to work with my marketing virtual assistant to book 25 PR spots per quarter, anything that gets me in front of other people’s audiences such as podcasts, speaking at conferences, summits, bundles, guest blog posts, etc.   I’m also focusing on my number of podcast downloads and less on my social media metrics. This year I am really doubling...

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