186 - Profit Reports Are Back!
On this episode of the podcast I announce the return of my Profit Reports and what they'll look like moving forward.
I'm launching a private podcast! This will be a second podcast exclusively for members of my free Facebook group, Braden's Besties. In the group I host a Friday Facebook Live where I answer questions I've collected throughout the week. I'll be turning this Q&A into a private podcast that will be accessible only to members of my Facebook group, so join now by clicking here or visiting www.bradensbesties.com
If you're new to the podcast in the last year you may not be familiar with my profit reports. These reports came to be in 2019 when I was reading the book Profit First by Mike Michalowicz where he walked readers through an exercise to determine the profitability of your business. I was operating at 30-40% profit at the time which was very low and I set out on a journey to operate at 70% profit. I started sharing my income and expenses with my followers as I started growing my profit.
I stopped these profit reports when COVID started because I didn't like sharing the money I was making knowing that others were not having the same experience in the pandemic, especially my audience of wedding professionals.
To wrap up the last several months, I launched Unf*ck Your Biz last fall and this past spring. This past spring's launch was not as financially successful as my fall launch, bringing in $10,000 compared to the previous $30,000. Typically this program was brining in 80% of my revenue. This $10,000 for a high-level program spread out over 10 weeks comes to $1,000 a week as compared to the $10-15,000 months I was having in the fall.
Last week I started a $!0k in 10 days challenge inspired by Rachel Rodgers' book We Should All Be Millionaires: A Woman’s Guide to Earning More, Building Wealth, and Gaining Economic. I needed to bring in some money to hire some new professionals to help me with a refresh for my new offering coming this fall, stay tuned.
To reach $10k in 10 days I launched a new offer called the Legally Launched VIP Day that has a few spots left for a program geared toward brand new business owners that need help implementing their legal and tax essentials.
I'll be recapping the August profit report at the end of August. Until then, I'll be driving into the $10k in 10 days challenge and an episode with an insurance professional in the coming weeks. Be sure to join the Braden's Besties Facebook group and rate and share this podcast.