WHAT IS AN INCOME REPORT?
I create these income reports so you can see inside my business and what scaling an online business looks like. I know running a business can be terrifying at times, it’s a scary thrilling adventure where we aren’t getting a lot of guidance. These income reports are meant to help you navigate entrepreneurship as you grow alongside of me!
MILESTONE #1 –
This month was my biggest financial month EVER! I took a huge risk by over hiring and it totally paid off. My employees had to learn to swim or they were going to sink. Each of them had to pull their own weight and had to create success in their position, otherwise there was no need for them. Thankfully, everyone was able to overcome everything that was handed to them and because of them, we were able to create $40,000 more than we did last month.
MILESTONE #2 –
My bookkeeper, who I love dearly, upped my rates and thought I would be mad at him for it. When I found out my rates where increased because I had so much more income, I was elated! He told me that was the fastest growing sub-seven figure business on his client list. He said I had moved 3 tiers in just 8 months when most of his clients only move 1 tier per year. I was so excited I could barely contain myself!
MILESTONE #3 –
This past month I have challenged my team and culture more than I ever had before. Up until this point, everything had been kind of “loosey goosey” and everyone could pretty much do whatever they wanted. I was not being protective enough of my time as the CEO and I wouldn’t delegate enough to my team. I realized that this was not healthy for me or my business and had some hard conversations with employees so we could correct these bad habits.
MILESTONE #4 –
I was able to talk with my friend Tyler, and I asked him for a list of things that I could be better at as a CEO and entrepreneur. It was hard to hear some of the things he told me and by the end of it, I had a couple pages of notes. Even though it was hard to hear, I needed to hear it all to better myself and my company, and I took so much from that conversation.
MILESTONE #5 –
One of the hardest things I have had to learn this past month is to trust people, especially my team members. It is so hard for me to trust an employee when I know they have the freedom and ability to leave at any point in time. I want to Mama Bear my business so that nothing bad ever happens. My friend Jordan got on a call with me and told me that I can’t control that. The only thing I can do is to try my best. As long as I end my work day knowing that I have tried my best, then there is nothing I need to worry about.
INCOME – $126,763
Recurring Profit – $80,058
The Scalability Lounge – $17,742
Consultations – $25,000
Affiliates – $2,962