Let’s jump right in with this July 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!
July 2019 Income Report: An Overview
If you scroll down to see the numbers, you’ll understand me better when I say that… July was rough. Typically June is our worst month of the year, but it really wasn’t that bad. So I guess July decided that it was going to hit us the hardest this year!
This is the lowest amount of revenue (and profit) I’ve made in a really long time, and it’s kind of sobering.
That being said, coming right off of a big launch, I was pretty exhausted and needed a break. I took my foot off the gas, spent some time enjoying the summer… and got exactly what I should’ve expected!
It’s also summer time, which is traditionally the worst time of year for me, as a lot of my target audience are moms, who traditionally are overwhelmed with their kids being home from school and spending time going on vacation during this time of year.
So while I’m not exactly surprised about this, it’s kind of annoying. But I guess the fact that me barely making any profit being “annoying” rather than “oh my god we’re going to starve” is a good sign that my business is still, overall, doing pretty well 😂
Business Goal Setting
My Goals For July 2019: Success or Failure?
- Work on my Pinterest package funnel. — SUCCESS! I didn’t get as much done on it as I wanted to, but I still did some work on it!
- Get more systemized with my newsletters. — SUCCESS! I worked with my online business manager (OBM) to build out two new workflows to better help me stay on track with my newsletters, and it’s been really helpful!
- Switch to GSuite. — SUCCESS! We made the big migration over to GSuite, which was annoying, but SO worth it. Now, my personal stuff is separate from the business stuff, and everyone on the team can easily access all business emails and files.
- Hire a new general copywriter. — SUCCESS! I hired a new copywriter to join the team.
My Goals for August 2019 — Let’s Do This!
- Do more work on my Pinterest package funnel.
- Successfully take 10 days off for surgery.
- Hire a social media intern.
July 2019 Expenses
- Ads & Marketing = $1,770.14
- Team Member Payments = $8,915.39
- Books & Courses = $184.00
- Transaction Fees = $410.77
- Legal & Professional Services = $525.00
- Referral Payouts = $0
- Teachable* = $39.00
- Active Campaign* = $70.00
- PennyPipe = $9.95
- RecurPost* = $10.70
- Adobe Creative Cloud = $22.46
- ClickFunnels* = $297.00
- Buffer = $10.00
- Quickbooks* = $21.40
- Zapier = $50.00
- ManyChat = $10.00
- DeadlineFunnel* = $67.00
- Deposit Photos* = $29.00
- Stock Gallery = $19.00
- Google Suite = $15.41
- Temi = $18.60
- Kapwing Pro = $20.00
- Later* = $54.00
Total Expenses = $12,425.50
July 2019 Income Report
- Interest Earned = $0.86
- Affiliate Income = $346.00
- Passive Income Products + Coaching = $1,075.00
- Done-for-You Social Media Packages = $6,145.00
- Hourly Client Work = $5,950.00
Total Income = $13,985.47
Total Net Profit = $1,559.97
July 2019 Income Report: All the Stats & Analytics!
- Number of blog posts = 6
- Monthly blog page views = 17,966
- Email list subscribers = 7,206
- Facebook page followers = 1,370
- Grow Like Woah group members = 2,546
- Instagram followers = 9,543
- Twitter followers = 6,452
- Pinterest followers = 21,975
- YouTube subscribers = 163
Final Notes on My July 2019 Income Report:
It’s actually kind of embarrassing to post such low numbers in my income report.
But I hope that someone out there will see this and realize that it’s normal to have fluctuations in business. It’s normal that you can have a 6-figure business that sometimes underperforms and only pushes out a meager profit every once in a while.
Especially when you have a team, there’s a lot of expenses involved in running a business. And sometimes the math just doesn’t add up in your favor.
That being said, I’m lucky that we have a lot of savings for circumstances like these. Just because we had a slow month doesn’t mean my business is going to fail, we won’t be able to make rent, or that I’m not “successful.”
I have BIG plans for the next few months… Just you wait! I plan to make up for this hiccup and then some.