Chugging right along! March was a great month. A lot happened that I couldn’t believe. First off, My ebook Phenomenal Dad: Ten Lessons on Single Fatherhood from a Tougher-Than-Nails Single Mom hit the online world with great success!
Secondly, I’ve been hard at work on a second book all about how divorced people can improve their lives post-divorce in hopes of achieving the ultimate revenge, living well! It’s called Revenge Divorce. It’ll be ready for publishing soon.
Then, I’ve been working on helping my VA client get her course revamped. It’s exciting to be a part of something so significant. At the end of it, students will actually receive a Certificate of Completion! Look for that soon, too!
Now, on to what you came here to read, my income report!
This Month’s Highlights
I managed to pick up a third VA client this month. It’s not a lot of hours, but the work he does is incredible! And best of all, he’s one of Gina Horkey’s 30 Days or Less to Freelance Writing Success success stories! He’s an alumnus just like me. I can’t wait to help him expand and build his business!
From Gina, I learned to keep a profit-and-loss statement for each month. And I keep a running, yearly total, too. I run my business on a cash and not accrual system. That means I don’t count invoices. I count cash-in-hand, baby!
I came across Gina’s writing course in August 2015. At the time, I didn’t even have the $59 to buy the smallest course package. I saved for two months all the while researching more and more about Gina and her program. I read everything she wrote. But it helped me make up my mind.
I purchased the course in Mid-October and decided to blog my way through it in November for my very first blog project, Sweet November. I booked my first paying gig on Day 11 of the course and haven’t looked back since.
In 2015, I grossed a total of $1,175 in revenue. Expenses for the year were 160.49. That means that I cleared a total of $1,014.51 in all of 2015.
It’s crazy to think of how far I’ve come in such a short time.
Gross Income: $2,693
A 22% increase month-over-month!
Business Expenses: $411.48
Roughly 15% of my income! What’s great about having an income is that I can spend some of your earnings investing in my business. I ran it all down below.
Net Income: $2,281.92
This is income after expenses but before taxes. Despite spending more than I did last month, I managed to increase this figure by 7% over February!
March was a great month. I’ve managed to make and bring in more money than I have before. I don’t want to talk about setting records yet, but I’ll be there soon!
Here’s how I fared in percentages:
- Writing: 9% – Not a lot, but I’m glad I can still call myself a writer!
- Editing: 0% – I merged my editing income in with my income from virtual assistance. I still aim to provide editing services to writers and websites who are interested. But I don’t plan on pitching too much for them.
- Virtual Assistance: 89% – By far the greatest thing I’ve done for my business was diversify into VA work. It keeps growing each month!
- Other: (Affiliate and PayPal Rewards) 2% – I honestly love getting rewards from PayPal. It’s like a Christmas present every month. I also generated some affiliate sales.
Writing: I sometimes wonder if I can still call myself a writer. But I know that’s silly because the bulk of what I do for my VA clients involves writing. Still, I find myself missing the thrill of the hunt!
There’s nothing like chasing down your own work. It was great fun! I love pitching! I need to make time for some more.
In March, I was paid for a piece I wrote for a magazine geared at Indie Writers. It’s called RA Williams Publishing. The first issue is available now. The second is due out at the end of April.
Editing: Haven’t edited much lately. I’ve done a few small projects for friends. But other than that, zip! As a VA, my duties include editing, but what I really miss is getting a big fat manuscript in my DropBox to work on. That was fun!
VA: Where do I even begin! I love my clients! I’ve been incredibly fortunate in that I’ve never had not one real complaint about any of them. They’re brilliant, passionate people who make me want to do and be better.I do all sorts of stuff for them and no day is like the one before. I edit, write, perform basic accounting tasks, manage email, and
I do all sorts of stuff for them and no day is like the one before. I edit, write, perform basic accounting tasks, manage email, and optimize traffic. Best of all, I get paid to learn new stuff all the time!
I’ve made more money this month because one client gave me a raise! How awesome is that?
Other: There are hundreds of reasons I love PayPal. The best? They give me a monthly cashback bonus!
I’m also an affiliate for several businesses I believe in. This month, I generated less than last, but a win’s a win!
I think about all the money I spent in March and all the other things I could’ve done with it. But the reality is, I’m investing in my business’s future. I won’t get anywhere sitting still. Moving forward takes a willingness to get there.
More than anything, I’d love to grow my income so I can afford to spend more of it on my business! That would be ideal!
Here’s what I spent my money on:
- Tools (Subscriptions, Books, Courses): 31%
- Support: (Writing, Website) 51%
- Fees (PayPal): 18%
I had two guest contributions to the site in March. In addition, I upgraded my membership to Gina’s 30 Days or Less to Virtual Assistant Success from the Growth Package to the Rockstar Package. I did it mostly for the VA MatchMaking Service Gina includes as part of it.
I’m used to the PayPal Fees, but honestly, it was almost a wash this month with their rewards.
I’m glad I made a list of goals in late 2015. It’s helped me stay on track. Here’s where I stand.
Make $50K In Revenue in 2016
I’m not near that. I’ve only made a dent in it. In order to make it, I’ll have to pull in almost $5K every month including April. I’ll try my ass off, but I don’t think this one will happen.
- Get published in Huff Po by 3/2016 – Guess who got there? That’s right! This guy! I’m officially in Huffington Post. Curious about my article? Read it here. Please give it a read and share if you like it.
- Land second steady client by 3/2016 – I’m blessed! Three regular VA clients!! Woo hoo!
- Improve monthly income by 10% every month – So far, so good!
Coaching: I plan on offering Coaching Services beginning in May. I need the rest of the month to create the page for my site and to get on the ball with scouting out some clients.
I’m no expert, but I’ve learned a lot on this road. I think I’m ready to share my expertise with the world.
You’re not alone in the online world of empire-building. I’m doing it too. I struggle like everyone else does. There are days I just don’t want to get up. I do because of my why. Providing for my family keeps me going. It’s the sole reason I do what I do.
Hit me up in the comments and let me know how you’re doing! What are you struggling with? How do you overcome?