Honestly, I have felt uninspired by my own income reports. Maybe because of the same-same format (basically copying and pasting). Maybe because I wondered ‘who really reads it’ and who really notices, anyway.
I haven’t published since August. So, I’m changing things up and sharing more behind the scenes of how I make my money from blogging and online business (see below for more details).
As always, there has been highs and lows in this entrepreneurial business journey. I’ve had some knocks. Burned out, freaked out, the unusual ‘house of hard knocks’. There was a scare of having to go back to work (that was on the table for myself and boyfriend).
The numbers weren’t adding up. The ideas weren’t playing out like planned. There were multiple laying money issues that were layering and distorting each image. From: business income needing to increase, reducing business expenses, taking wage cuts, 2 x personal income and 2 x personal expenses.
No Spend Challenge
To ‘hold’ on for ‘just another’ month I decided to play a game. It is called the ‘’No Spend Challenge’’. Basically a severe budget for a month, personally. That meant grocery shopping once every 2 weeks, no takeaways, no shopping, and no swiping cards. That ended up being very rewarding as we went back to our frugal roots and we honestly rock at living simply!
In one of the rollercoaster lows, I was recommended a book ‘’Profit First’’ and that ended up being a life line. And salvation. One of the steps of the book is to do a business expense audit and categories into P – for profit-making expense or R – that while help make a profit it can be replaced and U – unnecessary expense that doesn’t make a profit. And cutting all Unnecessary and Reducing where I could (like halfing the VA costs).
I share my expense audit inside Blog Business School.
Money Making Activities (MMA)
I had the reminder that MMA needs to be a priority. I was once told that there are 3 types of business activities. Ones that make money today, ones that make money tomorrow and ones that don’t make money. And they need to be prioritised in that order.
I use to schedule in 1 hour of MMA per day (between 12-1pm). I stopped doing that during the rollercoaster. Below the income report, I share my next 2 months of MMA.
Heads up – I share behind-the-scenes of my income reports + MMA inside Blog Business School. Read more + sign up here.
I just finished the 6 months of paid mastermind experience I signed up for. And I have mixed feelings. I went to one of the retreats in October and as I was waiting at a service station to be picked up, I realised …. That I was about to get into a car with 4 FRIENDS and have a NERDY weekend away talking BUSINESS. And that rocked my little cotton socks off.
The mastermind was exactly what I asked for: to make connections, have 2 x mentors and make friends. It is how I met Claire Cameron from Claire K Creations, my (now)blog business bestie. We are no co-creators of Blog Business School and Claire + I will be opening up places on a Mentored Mastermind in early 2018. If you want to grab a spot, you can do so, here.
NOVEMBER INCOME REPORT
Funny story, while grabbing my income report and writing down my numbers … I wrote down in a completely different way because I’m writing a different type of report (deviating from the template).
Note: In previous reports, I was allocating the monthly memberships under ‘’Memberships’’ and any other type of subscription to the same membership, I was allocating to ‘’Products’’. My thoughts or justification at the time was if a yearly membership isn’t a monthly membership, then it doesn’t go under monthly memberships, so I’ll put it in the column of products.
From this income report forward, memberships + subscriptions for membership sites go under the ‘’Membership’’ income stream.
Doing this, made me look at what is my 80/20 rule and membership bought in nearly 60% of my last 12 months income and made me over $30,000 in 12 months. Big difference, hey?
This post contains affiliate links.
TOTAL INCOME $7004.95
CBS – Cake Business School
BBS – Blog Business School
|of TOTAL $7004.95|
|CBS 1-year||$ 2,166.00||50%||31%|
|CBS recurring||$ 1,953.00||46%||28%|
|CBS x $1 trial||$ 63.00||2%||1%|
|BBS recurring||$ 81.00||2%||1%|
|$10 Bundle deal||$ 818.22||67%||12%|
|Cupcake Business In A Box||$ 98.00||8%||1%|
|Startup Kit||$ 98.50||8%||1%|
|Caker Mastermind||$ 100.00||8%||1%|
|AD REVENUE||$ 879.88||13%|
|Bluchix||$ 21.72||4%||less 1%|
|Ultimate Bundles||$ 15.68||3%||less 1%|
|SPONSORSHIP||$ 50.00||less 1%|
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- Related article: How I Have Nearly 300 Membership Members & Make $ Thousands Monthly
My biggest income earner was my main membership site, Cake Business School. Making $4182 and 60% of my income for the month.
I decided to double in price (as encouraged by my mastermind) for the normal monthly membership of $9 AUD per month to $18 AUD per month.
I promoted that from 1-16th November and promoted the 1-year deal as the best option to sign up now and that did well.
I will be sharing my marketing + promotional plan of the membership site (including swipe copy of the emails that converted well) inside Blog Business School.
My second biggest income earner was a $10 bundle deal that made $818.22 and 12% of income. That was a bundle of eBooks + templates, at 50% off, available for 7 days only. I did 2 x posts in my Facebook group and sent 2 x emails. For less than 2 hours work, that’s pretty awesome! I share behind the scenes of my income reports inside Blog Business School.
Here is my list of plans for MMA for next 2 months
- Blog Business School – 1-year half price and $6,000 prize pack promo, goal of 100 x 1-year enrolments at $97 plus 30 x $1 trial members, from 1-31 December
- Cake Business School – a limited time deal/bonus, goal of 20 x 1-year enrolments at $197, from 26-31 December
- Mastermind – for blogging + business owners, goal of 20 x Rising Star at $197 p/m, goal of 6 x Shooting Star at $397 p/m and goal of 12 x VIP Star at $497 p/m, from 1 January until full
- Goal Planning workshop – for cake decorators, goal of 30 x sales at $17, from 1-7th January
- Marketing workshop – for cake decorators, goal of 20 x sales at $27, from 7-14th January
- One-to-one – mentoring sessions for cake decorators, goal of 10 spots for the month
- Markets and Events workshop – for cake decorators, goal of 40 x sales at $27, from 14-21st January
- CBS deal (of some sort … still to work out the details)
- 2 x $10 deals in CBS Facebook group
- Market. Sell. – live cake decorating course round, goal of 30 x sales at $97, from 14 Jan – 4 February
- Blog Business School – fast acting, limited time deal
THERE'S MORE WHERE THAT CAME FROM!
Get more juicy + delicious inspiration and advice with occasional emails (plus virtual cupcakes), free tutorials, business tips, some promotional emails with products & services and my $ income reports AND how I earn over $7000 per month from my blog!