July 2021 Monthly Report
- Revenue Goal: $2,000
- Total Revenue: $3,145
- Total Expenses: $667.28
- Net Income: $2,477,72
- Owner Compensation: $1,286.39
- Hours Worked: 33 (53% decrease from June, HAHAHAHA)
- Weekly Average Work Hours: 17.38
- Billable Hours: 10.33 hours (oops)
- Course Creation: 1.33 hours
- Marketing/Content Writing: 6 hours
- Teaching Group Programs: 2.25 hours
- Consulting: .75 hours
- Non-Billable: 21.85 hours
- Billable Percentage: 31.3%
Hourly Rates By Project Type
- Marketing/Content Writing: $148.33/hour
- Teaching Group Programs: $80/hour
- Consulting: $133.33/hour
Overall Hourly Rates
- Billable Hourly Rate Before Expenses: $304.45/hour
- Overall Hourly Rate Before Expenses: $97.73/hour
- Overall Hourly Rate After Expenses: $77/hour
- Target Overall Hourly Rate: $60/hour
July was mildly bananas because I only had 10 days of child care, but thanks to residual income from a project I finished in June and a deposit for a project I’ll start in August, I blew past my revenue goal. In fact, I hit the goal even without the deposit, which feels pretty good.
It also felt good to just work on my business A LOT LESS than I am used to. I was still parenting, but it turned out to be a good rest for the generative portion of my brain. And even when I was working, I had a bit of a vacation mentality, so I took more slow mornings and early afternoons than usual. I don’t hate it!
- I got another fiction pitch accepted at Inheritance magazine.
- I taught a new workshop on setting a service menu.
- I went to visit my hometown for the first time since October 2019. I stuffed myself with food and friend time.
- We also went on a family staycation at a nearby lake resort, which was a lot of fun.
Reviewing the priorities I set for July:
- Our child care schedule is blown to pieces this month so I’m taking it pretty easy. My revenue goal is $2,000. Done!
- Run a new workshop on building a service menu. Done!
- Work on a visibility strategy for my Course Catalyst Lab program launch. Oh boy, I flailed SO MUCH about whether to run this as a group program or turn it into an evergreen product. The jury is still out…
- Take a lot of time off! Done!
How I succeeded/How I could have done better:
I really enjoy teaching live workshops but am having more trouble filling them than I anticipated. And because I keep teaching new topics, I have to create new instructional and marketing materials every time. I’m thinking about turning the workshops into on-demand products either instead of or after teaching them live.
Priorities for August:
I used Racheal Cook’s Best Year Ever workbook to try and clarify some direction for myself because I’ve been feeling pretty flaily. (I mean…more than usual.) This was a good exercise and helped me crystallize three top priorities for this month, as opposed to the list of 10 that I usually have. Here they are:
- Write a course for my client.
- Book 1-3 more course creation projects for the rest of this calendar year (which might end November 30)
- Promote the waitlist for Jumpstart Your Online Business and prepare for launching the fall cohort in September.
- And if I get all of that done, I want to get my lead magnets and nurture sequences straightened out for Chief Executive Auntie and Course Catalyst.
How was your month?