Elise in February:
"Hmm... after two business conferences this month, how can I make March more interesting?
I know – ANOTHER business conference and 9 days in Mexico!"
In last month's report, I emphasized the importance of strategic planning.
So this month, I really focused on being heads-down in my work before all the travels started up again.
In the week leading up to my Mexico trip, I focused on my ONE THING:
As you'll soon see, I invested WAY more into Facebook ads than ever before.
I also signed up for a handful of new programs to help me optimize my efforts.
And I continued to invest in my training and education.
As a result, this remote working trip was unlike any other.
For the 9 days that I was in Mexico, I was working less than I normally would (poor Wifi was part of it, but the beach was also pretty distracting 😬).
However, my sales continued to increase –– more than the month before.
How was this possible?
I truly believe it's because I maintained my focus on the ONE THING I wanted to do well before I even left for my trip, and took the big scary leap into increasing my Facebook ad spend.
That way, the programs and systems that I had set in place before my trip continued to run even while I was sippin' margaritas on the beach.
(SO cliché, I know. I had to laugh at myself because it was actually happening on that trip.)
And so, that brings me to my numbers for the month.
March 2018 Income
Affiliate income: $0 (this will become a focus one day!)
TOTAL INCOME BEFORE TAX: $26,853.13
March 2018 Expenses
- Advertising and promotion: $8,220.84
- Paypal, Stripe and bank fees: $563.43
- ClickFunnels*: $130.30
- ConvertKit*: $134.29
- Teachable*: $0 (annual fee already paid)
- Dropbox*: $13.27
- Canva: $17.39
- Acuity*: $33.26
- ManyChat: $21.20
- Deadline Funnel: $48.96
- Bonjoro: $33.09
- Morevago: $13.22
- HelloSign: $19.93
- Buffer: $13.46
- Google Apps: $10
- Grum: $11.72
- Amazon web services: $18.86
- iTunes storage: $3.99
- GoDaddy: $167.44
- Boardbooster*: $13.22
- Independent contractors: $2,770.04
- Accounting services: $325.00
- Meals and entertainment: $1,213.19
- Phone and Internet: $165.38
- Phone repair: $124.98
- Training, education and events: $3,037.03
- Flights, accommodations and Uber: $1,099.51
- Retreat: $2,000
TOTAL EXPENSES: $20,223
Net profit: $6,630.13
Salary to Elise: $3,000
* = affiliate link
That's a 25% profit margin which is heading in the right direction towards my goal of 30-40%.
(Ideally, in the future, my net profit will be 30% AFTER paying myself. But then there are still taxes to account for which is a whole other thing...)
This month definitely saw a higher revenue, but higher expenses in conjunction with that higher revenue. Fun how that works. 😁
But I am in no way complaining.
March was one of my highest sales months ever.
And I was away in San Diego for the first week of it, and then spent 9 days in Mexico in the middle of it. Oh, and I attended ANOTHER business event at the end of the month where I wasn't working for at least 3 business days.
So considering I was away for more than half the month... I am very happy with this month's numbers.
And while the increase in ad spend is still like walking on pins and needles... the results are making it all worth it.
And lastly, my profit margins are slowwwwly becoming healthier, which is my ultimate goal.
Speaking of profit margins, I shared a few ranty thoughts on this VERY important topic (in my humble opinion) over on my Instagram profile in my Story Highlights.
On your mobile Instagram app, check out the Highlight under my profile @EliseDarma called "Profit Vs Rev."
Takeaways for you based on my income report:
- Don't be afraid to invest in yourself and your business if you know that you have the commitment, drive and gumption to get 'er done. This includes the systems, software and help that you might need to scale your business or make it a whole lot more efficient.
- If you're ready to dip your toe into Facebook ads, do just that; start with a toe dip. If you're seeing the results that make your ad spend worth it, slowly increase your ad spend on each ad set every few days or create a duplicate campaign and start running that bad boy at a higher daily spend.