When I look back on my activities over November, I see one big focus that was for the business and two smaller focuses that were for me personally (but probably have ripple effects over to the business, too).
If you follow my Instagram Stories, you might have a good idea what my focuses in November were. 😁
I won’t keep you in suspense any longer.
Here’s where my head was at over the month of November:
BIG BUSINESS FOCUS #1:
Black Friday and Cyber Monday deals, plus the *last chance* push to enroll in InstaGrowth Boss before the price goes up this month (If You’re Reading This It’s Too Late™ – Drake.)
SMALLER PERSONAL FOCUS #2 + #3:
I knew that November was gonna be a big month.
Not just with all the promotions going on, but with shifts that were happening inside my business in realtime.
To be honest, spending a few days away at a personal development retreat and then spending an entire weekend at a coaches’ training… well, neither were SUPER convenient.
And yet, when the opportunities came my way, I leapt at them. Just like the yoga retreat I attended in October.
It wasn’t so much a rational decision but more so an OMG-I-need-this-in-my-life gut reaction.
You know that feeling?
I think this is all a result of the shifts I’ve been feeling in my business since… August.
And to be honest again, if I hadn’t agreed to publishing these income reports at the start of the year, I’m not so sure I’d be blogging about all these shifts!
I share them, however, because they give important context to what’s going on for me so that you can better understand the numbers of my business.
I don’t believe in slapping numbers into a Facebook ad caption and then dodging questions about the detals ($1 million in revenue? How much did you take home after expenses? Uhhhhh.)
❌ Nuh-uh. ❌
Anyway, before I carry on with this tangent any longer, that’s the context you need to know before you check out my numbers for this month; there was a strong promotional focus, as well as a strong pull towards personal development.
Let’s dive into how the numbers shaped up for my business in November, shall we?
November 2018 Revenue
- Services (marketing services for e-commerce brands and one-on-one coaching): $6,358.00
- Product sales (courses + Bali retreat): $19,127.03
- Affiliate revenue: $49.15
- (Secretly, this makes me so happy that affiliate efforts are slowly gaining momemtum)
TOTAL REVENUE BEFORE TAX: $25,534.18
November 2018 Expenses
- Advertising and promotion: $7,430.81
- Bank fees: $490.22
- ClickFunnels*: $405.51
- ConvertKit*: $241.21
- Teachable*: $0 (annual fee paid already)
- Dropbox*: $13.50
- Acuity*: $33.99
- Deadline Funnel: $90.89
- Canva: $17.51
- Morevago: $13.55
- Buffer: $13.53
- Google Apps: $10.00
- Grum: $15.87
- Amazon web services: $20.72
- iTunes: $3.99
- MemberVault: $541.96
- Contractors: $6,314.14
- Accounting services: $325.00
- Meals and entertainment: $529.27
- Phone and Internet: $164.36
- Training, education and events: $824.06
- Flights, accommodations and Uber: $149.13
- (I’m noticing a theme here – less travel 🙃)
TOTAL EXPENSES: $17,649.22
Net profit: $7,884.96
Salary to Elise: $3,500
* = affiliate link
When you look at what’s left after all the monthly expenses, we’re talking a 31% profit margin.
This is, more or less, where I want my profit margin to be at a minimum.
(Keep in mind – there’s still my salary and taxes to pay.)
IDEALLY I want that profit margin at 50%. That’s really been my goal all year long and since I’ve yet to really maintain that level, I think we’re in for some changes for 2019. 😬
The other thing to note is that some of the revenue came in from retreat sales. As mentioned in my October income report, retreat sales are really going into a holding account since those sales made in November will go towards acutally paying for the retreat experience – the hotel, coworking space, the day trip, flights, goodies, group dinners, drivers, the videographer, etc.
I also can’t deny that a holiday sale is often a great revenue booster.
Running a Black Friday and Cyber Monday promo – along with the last push to get inside InstaGrowth Boss before the price goes up – certainly had a positive effect on sales.
I didn’t start offering “sales” in my business until I had products. And I didn’t have products to sell until the spring of 2017. So my first holiday sale EVER happened just last year.
The results were decent and so I thought I’d give it another go this year.
However, I intentionally planned to NOT offer steep discounts that would (excuse my French) screw over current students who already bought in at an earlier date.
Instead, I offered expiring bonuses to those who joined during the promotional period and bonuses that I could ALSO extend to my current students, as well.
With all the scuzzy stuff that goes on in the online marketing world, the last thing I wanted was a current student to feel let down.
So I was intentional about creating offers that encourage people to join *before* the price goes up this month – and that all current students could enjoy, too.
WITH ALL THAT SAID and with such a strong focus on sales, promotions and revenue… my mind was elsewhere, too. ☁️
During the month of November, I took time out for myself on two occasions:
- To attend the Your Best Life Retreat at the June Motel in Prince Edward County
- And to spend two and a half days in training on how to be a better coach, hosted by the pros at The Coaches Training Institute.
I’ll share more about these two (life-changing) events at another time.
But I can definitely say that while both of these events came at very busy times in the business, they were also very necessary for own my personal development and mental health.
Sidenote: a year ago, you would have never heard me talking about either of those topics. Mindset? Psshhhh. But now – they’ve become a huge priorty. Guys, I’m even journaling in the mornings now. WHO AM I?
So there ya have it.
November was a month of contrast.
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