Let’s jump right in with this August 2018 income report! I’m super excited to share with you guys what’s been going on with me lately.
What’s Up With These Income Reports, Anyway?
Ever since my very first month in business (I made a whopping $87), I’ve been sharing my income and expenses for each month, in order to give other online entrepreneurs a good baseline of what a real business looks like during its start-up phase.
My goal with these posts is to give you guys a super realistic look into what type of income and expenses you can expect from being a “girl next door” type of online entrepreneur who isn’t making 6-7 figures each month (yet!).
Let’s do this!
August 2018 Income Report: An Overview
August was a whirlwind. Ever since we got our puppy at the end of July, it’s been tough to get back on track with a normal schedule. My productivity went way down in the first few weeks of having her, although it’s finally starting to pick up again. But it’s been totally worth it! I absolutely love having a dog, even though she is a handful and needs lots of time and attention every day.
This past month flew by so fast that I almost don’t even remember it. It was a lot of long nights and early mornings with the puppy. Oh and I’m back on coffee again! I went off caffeine back in May, but with the puppy, I could not survive without my daily cup (or two).
But on the other hand, she’s keeping me active and exercising! I was worried about getting a dog because of my physical disability, but she has actually inspired me to push myself more than usual. Some days it’s tough, but for the most part I’m loving being more active.
I also was able to spend some time with one of my best friends from high school, who I hadn’t seen since my wedding back in June of 2016! It was really nice catching up. I was also really proud of myself for going to see her, because it was at her bridal shower and she was the only person I knew! I drove an hour away from my house, sat at a table of other 20-30-year-old women, and had some really good conversation. It may seem silly, but I was actually really impressed with myself. I used to be extremely introverted. Running my business has brought me out of my shell a lot. And this was a big example of that. The Miranda I was 5 years ago probably would’ve faked sick to get out of this event and stayed in bed watching Netflix.
So all around, August was a bit of a mind and body-themed month for me. I focused a lot on getting myself back into a routine and back into a productive headspace, and also becoming used to this new, more active lifestyle. I feel like this month did a surprising, but good, job of setting me up for the rest of the year. I’m really excited for the next few months!
Business Goal Setting
My Goals For August 2018: Success or Failure?
- Get 2 weeks ahead on my blog posts and newsletters — SUCCESS! A dream 3 years in the making has finally come true. The only thing that I am not counting in this is income reports, as I have to wait for the reports from my accountant to write and post them.
- Launch my new website — FAILURE. But I’m super close. Definitely will happen in September.
- Make $2,000 in my passive income sales/coaching category — FAILURE. I had a weirdly low month in my passive income category. Hopefully next month will be better!
- Make $6,000 from social media packages — FAILURE. We’re still keeping this revenue around the $5,000 mark, which is good. And consistent, which I like. But I’d love to be able to grow this a bit more.
My Goals for September 2018 — Let’s Do This!
- Hire a coach to guide me through the next few months.
- Plan my upcoming course launch.
- Launch my new website.
- Make $2,000 in passive income sales.
- Make $6,000 from social media packages.
August 2018 Expenses
- Ads & Marketing = $38.29
- Team Member Payments = $6,612.46
- Books & Courses = $27.00
- Transaction Fees = $376.31
- Referral Payouts = $105.10
- Teachable* = $39.00
- Active Campaign* = $70.00
- PennyPipe = $9.95
- RecurPost* = $10.70
- Adobe Creative Cloud = $21.39
- ClickFunnels* = $297.00
- Buffer = $10.00
- Quickbooks* = $10.00
- Zapier = $20.00
- ManyChat = $10.00
- Planoly* = $99.00
- Deposit Photos* = $29.00
- Turquoise & Palm Stock Photos = $19.00
- NameCheap* = $150.92
- Google Drive = $99.00
- HelloSign = $156.00
- Business Checks = $30.00
Total Expenses = $8,251.61
August 2018 Income Report
- Interest Earned = $7.13
- Affiliate Income = $204.45
- Passive Income Products + Coaching = $921.45
- Done-for-You Social Media Packages = $4,877.00
- Hourly Client Work = $6,617.00
Total Income = $12,212.45
Total Net Profit = $4,172.42
August 2018 Income Report: All the Stats & Analytics!
- Number of blog posts = 3
- Monthly blog page views = 7,947
- Email list subscribers = 7,145
- Facebook page followers = 1,096
- Grow Like Woah group members = 2,174
- Instagram followers = 7,163
- Twitter followers = 6,698
- Pinterest followers = 9,625
- YouTube subscribers = 106
Final Notes on My August 2018 Income Report:
Just to talk a little bit about those expenses. Phew August was a high-expense month! That being said, the main things that account for that are that 3 big annual purchases all just happened to auto-renew last month — Google Drive storage, HelloSign, and my NameCheap web domains. I also had a heavy referral payout for last month (email me at firstname.lastname@example.org if you’re interested in being a referral partner!). But our other expenses mostly stayed the same, so I think we actually did a good job.
Oh I also had to order checks for my business checking account! Back in July we went to see the lawyer to switch to filing as an S-Corp, and the bill came in the mail but I didn’t have any checks to pay it! Can someone please tell these people to get with the times? They need an online payment portal haha.
Also, just to point this out, my Pinterest followers grew by over 2,000 in the past month! Which I guess makes up for my downhill slide on Twitter and Instagram. We’re totally killing it on Pinterest! We are well-known for this service, but it’s good to see how awesome my own account is doing, too.
What I was really happy to see in this report is that (except for last month) our profit has pretty consistently been around $4,000 or more every single month this year. That is my minimum goal profit each month, so I love that I don’t really need to worry about that anymore. Almost every single month we’ve been hitting it consistently! Consistency feels really good, and I’m glad to finally be starting to see that in my business.