Let’s jump right in with this December 2019 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!
December 2019 Income Report: An Overview
Wow, I can’t believe 2019 is over! This year went by so fast. It was a great year for Miranda Nahmias & Co. Although we didn’t hit our big revenue goal for the year (scroll down for more details), I’m extremely happy with how we did.
The end of the year always gets me really excited for setting goals and getting ready for big, new things to come. I’m really looking forward to where I see my company going and have been working on creating some goals to hit in 2020!
A Few Highlights:
- I turned 28! — Honestly, I was kind of bummed to turn 28 because 27 is my favorite number, so I was really excited to be 27 haha. But at the same time, I’m also excited to start a brand-new year and see what 28 has in store for me!
- Christmas Vacation — We took a couple of weeks off for the holidays this year and it was great. I started being really strict about holiday vacations a few years ago, because it’s a crucial time that I need to relax and recharge. I was able to spend some quality time with my family and just take a break from everything. Doing that always makes me come back stronger in the new year!
Business Goal Setting
My Goals For December 2019: Success or Failure?
- Take time off to spend with family for the holidays. — SUCCESS! The team took a holiday break from December 21st to January 5th and it was great! It was exactly what I needed to relax and recharge.
- Make at least $17,430.18 in revenue (to put us over $215k for 2019). — FAILURE. Ah! I’m so annoyed we didn’t hit this one. We were sooooo close.
My Goals for January 2020— Let’s Do This!
- Launch my new secret project.
- Make more revenue from packages than from hourly clients.
December 2019 Expenses
- Ads & Marketing = $918.88
- Team Member Payments = $6,661.22
- Books & Courses = $180.00
- Transaction Fees = $456.33
- Referral Payouts = $95.50
- New Laptop = $1,545.08
- Client & Team Gifts = $1,834.97
- Legal & Professional Services = $100.00
- Office Supplies = $19.25
- Postage = $9.08
- GSuite = $12.84
- Rev.com = $102.5
- Page Expiration Robot = $97.00
- Active Campaign* = $70.00
- PennyPipe = $9.95
- Adobe Creative Cloud = $22.46
- ClickFunnels* = $297.00
- Minimalist-Work.com = $10.00
- Grammarly* = $139.95
- DeadlineFunnel* = $67.00
- Quickbooks* = $72.76
- Later.com = $99.00
- Zapier = $50.00
- Deposit Photos* = $29.00
- Stock Gallery = $29.00
- Utilities = $178.61
- Website Expenses = $42.56
Total Expenses = $13,149.94
December 2019 Income Report
- Interest Earned = $2.46
- CapitalOne Cash Back Rewards = $241.01
- Affiliate Income = $440.69
- Passive Income Products + Coaching = $520.4
- Done-for-You Social Media Packages = $7,354.5
- Hourly Client Work = $7,384.50
Total Income = $16,168.56
Total Net Profit = $3,036.62
December 2019 Income Report: All the Stats & Analytics!
- Number of blog posts = 3
- Monthly blog page views = 8,704
- Email list subscribers = 7,516
- Facebook page followers = 1,460
- Grow Like Woah group members = 2,588
- Instagram followers = 9,686
- Twitter followers = 6,382
- Pinterest followers = 25,275
- YouTube subscribers = 176
Final Notes on My December 2019 Income Report:
While I wish we could’ve ended this year with a BANG, honestly it was kind of just a normal month. But consistently is good! I’ll take it. (Plus, keep in mind that we took 10 days of December off for the holidays, so this does not really represent a full month.)
That being said, our expenses ended up being really high in December. Both because we spent a lot on holiday gifts for clients and team members and because I had to buy a new laptop when mine crapped out on me right in the middle of a client call 😳
So while these numbers are accurate, they don’t really represent the profit that we would’ve seen if those things hadn’t been necessary (profit would’ve been almost $6,500!). Keeping that in mind, I’m really happy with how this month went!
In December, I also like to use this opportunity to look back at how the whole year went.
Although we didn’t hit our (admittedly lofty) goal of making $300,000 in 2019, I’m actually really happy with how we did do. Especially considering we flipped our business model on its head in 2019. Honestly, I’m surprised we did as good as we did!
In 2018, our total revenue for the year was $166,738.38 with a profit of $52,738.74.
In 2019, our total revenue for the year was $213,738.38 with a profit of $71,071.11.
That means we increased our revenue by 28% and increased our profit by 35%!!! I’m SUPER happy with that.
Plus, I had my bookkeeper run the reports and, if you add it up over the entire year, we actually made more revenue from our packages than we did from our hourly clients. Which is exactly what I wanted to have happen! Now, we are in such an amazing place to kick off 2020 and achieve some big goals in the new year!