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 we hit a 70% profit margin. If you didn’t know, in our industry having a 30% profit margin means your doing well and 60% is just absolutely jaw-dropping amazing. So for us to surpass both of those numbers has been HUGE! I am so proud of everything we have been able to do this past month and I am looking forward to setting the same goals for next month.
MILESTONE #2 –
I had to shift not only my calendar, but also our team hierarchy structure. Our hierarchy chart has been holding us back for so long and I just recently realized it. I knew it needed to change, but figuring out how to shift positions without firing anyone was a challenge. After some work, I was able to rearrange the hierarchy without firing a single person and since doing so, my team has been so much more productive. Everyone is has filled their new or adjusted positions so well and we were able to get so much done because of it.
MILESTONE #3 –
I was able to hire an executive assistant this month. I am already so appreciative of her, because now she has complete control of my calendar and creates just a whole other layer of protection for my time and energy. Now I can start distancing myself even more from those day to day tasks and stop being a bottleneck to the company, and instead act like a CEO.
MILESTONE #4 –
We have moved to a new office called City Central. It’s based in the Dallas – Fort Worth area, but we are loving it already. It has allowed us to be more focused and has given us such a better atmosphere to create productivity. I plan on growing and taking over more personal offices for my employees so that they can be their most productive self while also being just a few doors down from other team members.
INCOME – $132,050
Recurring Profit – $107,725
The Scalability Lounge – $18,546
Phase Out Your Clients Plan – $473
Affiliates – $5,064
Other – $242