Cash Flow
- Revenue Goal: $10,000
- Total Revenue: $5,519.5 (including some revenue that will be shared with my course partner)
- Owner Compensation: $2,482.73
Cash flow was REAL FRICKIN WEIRD this month. The last few slower months I’ve had finally caught up at the beginning of this month, which put my operating expenses account way lower than I wanted it to be. That caught itself up by the end of the month but it didn’t feel great at the time.
I finally brought in a professional accounting and bookkeeping firm to fix my life, and we are in the midst of transitioning to Quickbooks, so I don’t have a super accurate expense report to show this month.
Time Breakdown
Work Time
- Hours Worked: 58.28
- Weekly Average Work Hours: 14.57
- Time Categories:
- Billable hours (sort of): 17.72
- Marketing: 13.56
- Business development: 10.75
- Operations: 10.5
- Sales: 5.75
My tracking categories have also gotten blurry for a number of reasons. I’m repurposing a lot of my marketing content across platforms, so I’m probably going to just lump everything under marketing going forward. There was quite a bit of admin work related to Jumpstart Your Online Business, so that maybe should have gone under billable hours instead of operations, but oh well.
Hourly Rates
- Billable Hourly Rate Before Expenses: $311.48/billable hour
- Overall Hourly Rate Before Expenses: $94.71/hour
- Target Overall Hourly Rate: $85/hour
I’ve brought on some more recurring expenses (like accounting services and rent on my office) and we’ve also set some bigger savings goals at home, so I’m moving my internal hourly rate target up accordingly. I highly recommend looking at your internal hourly rate at least twice a year!
Monthly Achievements
- I booked three pricing strategy engagements, including my first group training engagement on the subject of pricing. I’m super excited about this and would love to build this out some more in 2022.
- I booked a VIP day with a spectacular copywriter to help relaunch my pricing course in November.
- I warm-pitched my new service, Your Genius, On-Demand, a lot and booked my first paid scoping project for it. Still hoping to book some of those leads as full projects for the new year.
- My strategic partner and I ran another amazing cohort of Jumpstart Your Online Business, and also piloted an online community for entrepreneurs of Black, Latine, Asian, indigenous, and multiracial descent. It’s been a wonderful experience and I hope we can grow that community in 2022.
- I got a lot of clarity about my forthcoming product through the group program I’m in, Sales Page Brilliance. It’s amazingly helpful to be in a space with business owners who are a couple steps ahead of me because they can show me what it’s like to grow past where I currently am.
Reviewing the priorities I set for September:
-Get a good draft of my personal statement for graduate school and request my recommendation letters.
-Write a first draft of my new product.
-Book out Q1 2022.
So the funny thing is, I didn’t achieve any of these goals, but I don’t feel too bad about it. In light of *waves vaguely at everything,* I decided to punt on grad school for at least another year (…again, and I’m working to make peace with the idea that this may be another road not taken). I also decided to end my external-facing work year on December 1 and spend the first two weeks of that month smashing out a draft of my new product, The Course Catalyst. And my project pitches have all come back with, “This is cool but I can’t commit to this right now.” So I’m going to make a last round of inboxes over the next few weeks to see if anyone wants to book something for January, and if not, trust the timing of the universe and be patient.
Priorities for November:
- Relaunch my pricing course. (Stretch revenue goal is $10K!)
- Book a project or two for the new year.
- Continue doing a buttload of yoga, therapy, and other self-care.
How was your month?
