I don’t know if I’ve ever shared my income in a monthly report, publicly on my blog.
I do know that I’ve always LOVED reading them and getting an inside peek into the business and operations of others.
Money is a pretty taboo topic still and I really wish it wasn’t. Why is it so personal? Well I guess because money IS a reflection of personal issue. Money experts often say that if they have a look at your bank account and how you spend/save/treat/use your money they can tell you what kind of person you are and how you feel about yourself.
So, I guess that’s pretty personal.
But here’s how I feel about it: I feel like I’m here to do a job. My job is to inspire you, educate you and motivate you to follow that dream and generate REAL RESULTS that allow you to live to complete lifestyle freedom. In order to achieve that you sure as HELL need to make money. And you sure as hell need to understand the ways in which you CAN make money so you can decide which options are best for you.
I’m also here to show you I’m VERY flawed. I’m not a perfect person by any means and I’ve managed to build a business, even with lacking in many areas… in particular the money area. I am determined to become a MASTER of my money, and I’m getting there bit by bit, but there always seems to be a new lesson to learn (latest lesson is taxes keep rising as you keep growing … so be ready 😉 )
My goals with this income report would be:
- To show you the reality of income generating in my world.
- To let you see and understand how I make money.
- To give myself a monthly check-in with what worked and what didn’t, something I don’t do right now!
- To be accountable for my income goals AND motivated to work harder knowing your watching(?), maybe…
- Show you what kind of expenses a business like mine can run on.
- Identify some of my important statistics for business growth and what I need to learn from them.
So here’s the report. I’m making this up as I go. I’m sure it’ll need tweaking as I do this monthly.
Laptop Lifestyle Business Club Monthly Report
ahhh. A little scary opening up the “books” to everyone but I truly feel like you and I both will benefit from this!
So my goal every month is to grow the club. It’s my main goal to have a very healthy monthly income from recurring payments from my membership and if I do that I can focus almost all my time and attention there. I am IN LOVE with running a membership site. It’s what I’m meant to do! I just love the community I’ve built and the more time I get to focus on growing that, the stronger the entire community will be.
The other things that are my main sellers are group coaching offers and one-on-one coaching.
Here is what I made and spent in May:
Income Generated & Sources:
$3945.51 – Laptop Lifestyle Business Club – This includes an unlimited membership sign up, monthly members and doesn’t include many yearly memberships that come due at various times throughout the year.
$1657.72 – One-on-One Coaching – I decided to take on coaching clients again and had two people sign up. Also this includes a payment from an All-Access coaching client who started with me in January.
$340.20 – Fast-Action Challenge Sales – I did a sale on the previous club challenges.
$213.85 – Natural Email Marketer – This isn’t the month I promoted this course so these are additional sales after initial promotion in April.
I’m happy with the club income. That includes the yearly memberships and also a few “unlimited” memberships I put on sale that I never do. So next month that will likely be significantly lower. Remember that if you see it, it won’t mean I had a mass exodus of members 😉
I just decided to start one-on-one coaching in May and do three-month runs of coaching. Very happy with the sign-ups there and another one set to start this week!
Previous challenge sales are OK. Certainly not much compared to the others and so probably not worth a lot of my time and efforts.
HOW I Sold The Things I Sold:
After publishing this I was asked how I made most of my affiliate money and I thought that was something important to include, so I’ll add that to the report each month… how I made the money I did.
For everything I sold this month I had one single marketing method: Email Marketing.
That’s it. I email my list every day. I write like a person who’s writing a friend. I share what I know to be the most important message of my life: The you CAN and SHOULD have complete lifestyle freedom if you want it and I can teach you how to do it.
I have other methods that support my email marketing, like social media marketing, webinars, this blog and others but the actual sales from those (if any) are minimal. If you want to know what to do to make the money I do in the way that I do the answer is email marketing and Natural Email Marketing (which is my signature course where I teach you what I do, why and how). Just reading that sign up page you’ll get to understand my unique email marketing philosophy (ie. you really can email every day and have HAPPY subscribers).
Affiliate Income & Sources:
WOW – Coach Glue is making up 86% of my total affiliate income. So I’m going to keep focusing attention there and also in on ConvertKit as I know that getting people signed up to an email software can be an affiliate income that lasts years and years and years.
Just an FYI here. It might be counterintuitive to think you need to keep working on the ones that ARE working, ie. Coach Glue and ConvertKit and instead look to increase sales of the others but you want to go ahead and MAXIMIZE the profits on the things that work first, before you move onto something else. The other things that sold a little, just might not be right for my market or maybe I didn’t give them enough promo… I’m not sure but I’ll turn my attention to those when I know I’ve done the most I can do with the others.
Total Income: $7320.10
$1.85 – as3 File Hosting
$79 – ConvertKit
$50 – MomWebs Hosting << THE BEST HOST
$47 – Lifestyle Builders Membership — YES, I’m a member of a club, too 😉
$15 – Zoom
$25 – BeLive – I don’t actually use anymore but I accidentally signed up for a year of monthly payments, which is a weird option I didn’t even realize I was registering for. So I have to keep paying until November.
$49 – Elementor Pro Purchase
$100 – Social Media Manager
$1071.59 Affiliate Payments to LLBC Affiliates
$45 – Paid to members who completed the March LLBC Challenge (I’m behind will catch up paying April & May in June!)
Total Expenses: $1483.44
NET Income: $5836.66
I’ll never forget the day, about 10 years ago, when I interviewed with Freshbooks for a customer service job as a Virtual Assistant and they asked me: “What metrics do you track?”. My reply was: “Metrics?”.
LOL and NOT LOL.
So… that was embarassing but I’m so glad I didn’t get the job. I didn’t want a job. I wanted to make my business work. It was at that point I talk about where I had got to the point of being an overworked, burnt out and very frustrated service business owner who didn’t know how to have total life freedom, or any freedom at that point!
Needless to say that is turned around, I KNOW what metrics means AND I even have some stats that are pretty meaningful to me. Awesome, right?
Each time I do this report I’ll focus in on one or two (or at most a few) stats to talk about in detail. The rest I’m going to just list out so I can see month by month what’s happening, what’s growing, what needs my attention. There are a bunch so bare with me here 😉
- Laptop Lifestyle Business Club Members: 147
- NEW Club Members in May: 9 (Goal is 30 – needs some work!)
- Total Customers In Amember (includes free & paid members): 5,073
- Email Subscribers: 3,419
- Monthly Unique Website Visitors: N/A (since changing my themes forgot to install so I’ll report in June)
- Facebook Page Followers: 809
- Free Facebook Group Members: 1,124
- Instagram Subscribers: 733
- Twitter Followers: 3,633
- YouTube Subscribers: 405
Here are my email stats for May:
Email Sign Ups
My email sign-ups are the only stats I’m giving much attention to right now. I have 3,422 total in my ConvertKit account and then over 5,000 all-time customers in my Amember account. My email open rate is only at about 10% which is standard for my industry and for the fact that I email out a lot but too low for my liking so I’m definitely going to do a long overdue purging of the list and start looking at how I can bump that up to 15-20% after the purging. I just had to wait a while after the whole GDPR scramble lol.
I’m noticing about one new sign up every few days from the form I’ve placed on my website here inviting you to join over 3,400 people getting my daily digital marketing tips! I love that because it’s passive and happening without anything other than my adding the form.
You’ll also notice the big spike of subscribers in the middle and then a little one off to the left. Those are from doing a webinar with Sue Dunlevie of SuccessfulBlogging.com (thanks Sue!) that brought me in a bit over 60 new subscribers. I also did a webinar with her so it’s nice to do this kind of “webinar barter” to bring equal-ish value to each other’s audience. It’s my favorite JV (joint venture) idea at the moment.
I’m going to continue with my list building efforts and I’ll set forth a goal to DOUBLE the number of subscribers in June and leave that here for some accountability! I could list off a whole set of goals to report back on but I think I’ll start with just this one and see how that goes.
May 2018 Monthly Income Summary:
I DID hit my gross income goal this month. My minimum goal is for this year is $100,000 CAD and so that works out to $8333 per month CAD. Converting my income ($7320 USD) by today’s exchange just for a rough number I get $9442.80. So, I’m happy with that!
As far as list-building goes this month, I could definitely do better. I’d like to do at least one list-building webinar per month and then multiple other efforts. That’s where my Beginner Funnel Action Plan is coming in as well so that I can create the funnel, get it working and have a flow of people signing up by using a Facebook Ad Campaign to drive new leads. That’s the plan and I’ll let you know how it goes!
Thanks for being curious, for reading all the way to the bottom here and for being a part of my tribe. I appreciate you and wish you the best with your business!