306 - September Profit Report

On today's episode of the podcast I share my September 2023 profit report and goals for October.

I do these every month to show an example of how you can go about budgeting and understanding your numbers while also giving a real life example of how much it costs to run a business. It is important to note that my business is not indicative of every kind of business. Whether you do or don't have a team and depending on how much you do or do not work, how many ads you run, if you have a product or service based business, those are all factors that impact how much it costs to run your business. 


Big goals for 2023

1. Consistent $20,000 months by Q3. Missed it this month. First half of the year was strong and we're 6/9 now, which I still counting as a W. This has taught me that I see high spikes in income in the beginning of the year but just because I see it then doesn't mean it will last all year.

2. Get MRR to $20,000 by end of year. We're pivoting that to a 2024 goal. It's probably more of a 2-3 year goal so more like we will focus on starting to build to it.

3. Get expenses under 35%. → Changing to 40%. Year-to-date we're at 43%


What Happened in September

  • Not much really, no big promotions
  • Was really just a month of working with current students and clients, running the business, and planning ahead.


September Projections vs. Actual

  1. Low Ticket: $1,500 → $1,800 (awesome! Of this $1,290 was Contract Club)

  2. UYB: $1,400 → $1,200 (This payment may have processed at the end of the month which was on a weekend and we may see next month)

  3. PRx: $4,000 → $4,000

  4. Legal: $8,600 (6 trademarks) →. $6,100 (this was really the only difference and we will probably get better at these projections)

  5. Tax: $5,000

  6. Consults: $0

Total: $18,500 → $16,600


Let's go through the expenses and talk profit...


This month was not as high as I expected because I paid for a lot of expensive stuff at the end of August and the beginning of October for a couple big projects and Wedding MBA.


Team (employees and contractors)- $2,200 (Payments to employees, does not include my pay)

Monthly tools - $400

Marketing expenses - $460

Meals - $100

Online programs - $300

Client fees - $500 (fees we spend to file the application with the trademark office when you hire us to do your trademark)

Other expense - $500

Affiliate payouts - $550

Total: $5,000



Revenue -$16,600

Cost of Goods -$2,400 (This is unusual for us because typically our only CoGs is the cost of printing our books but this month I ordered 150 books to take to Wedding MBA)

Expenses - $5,000

Owner profit - $9,000

Salary - $5,300

Business profit - $3,700


YTD Breakdown

COGS - 2.3%

Expenses - 40.9%

Salary - 21.5%

Profit - 35%

I need to increase my salary, expenses need to come down 5%, really what I need to do is take 3 of that 5% to salary and the other 2 into business profit. I have this visualized in my profit pie.


Upcoming Projects

  1. Doing a big affiliate push in October (To become an affiliate, go to notavg.com/affiliate)

  2. A potential exciting update with the Contract Club to make it even better, which also means a big expense

  3. Working on Profit Rx


October Projections

  1. Low Ticket: $3,000 (big goal, closer to $1,500 to $2,000 if people don't get in on the affiliate push)

  2. UYB: $1,200

  3. PRx: $4,000

  4. Legal: $8,000 (3ish trademarks and a couple LLCs)

  5. Tax Filing: $2,500

  6. Consults: $0

Total: $18,700


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