Welcome to my 3rd freelance and blogging income report.
Previous Income Reports:
I thought a lot about whether or not I wanted to publish a monthly freelance and blogging income report but after thinking about the pros and cons, I know how helpful they were to me prior to making the leap into the world of freelancing and blogging. It is my hope that these reports will continue to show my growth as the months go on and showcase what is possible when working from home.
NOTE: While I am in Canada, most services and clients are billed/paid in USD currency so that’s what currency I am continuing to use for these reports.
Updates this Month:
My goals from last month’s report for October and whether I hit them or not are listed here:
- Make a net profit of $6000 – SUCCESS!
- Gain 2 new clients – SUCCESS!
- Have 3000 number of monthly views on my website for the month – SUCCESS!
- Post 10 blog posts this month – SUCCESS!
- Grow my email list to 300 subscribers – SUCCESS!
- Send out 2 email newsletters – MISSED!
- Create a new opt-in Freebie – MISSED!
- Create 2 new template sets for my design shop – MISSED!
- Make $200 in affiliate marketing revenue for the month – MISSED!
- Create and finish a Resources page for my website – MISSED!
I started off by hitting a number of my goals for October, but as the month went on, I was swamped with client work and couldn’t keep up with some of my targets. November is another month! And, now that I have some help, I should be able to accomplish more goals and work a bit more on growing my business even more.
This Month’s Revenue Breakdown:
Monthly Clients: $7200
One Time Services: $1894.89
Affiliate Marketing: $189.50
Total October 2019 Revenue: $9584.39
This Month’s Expenses Breakdown:
- Subcontractors / Writers: $1840
- Tailwind: $89.96 (I have 2 Plus plans and power ups)
- Later: $29
- Calendly: $10
- Zoom: $14.99
- Monday: $50
- Asana: $37.50
- Teachable: $39
- Pink Pom Pom Social: $16.96
- SEMRush: $99.95
- Dubsado: $35
- Canva Pro: $12.95
- Pinterest VA Membership: $99
- SavvyVault Course: $97
- Convert Kit – $29
- Adobe Photoshop Subscription: $9.99
Total Monthly Expenses: $2510.30
My expenses were a lot higher this month, but for only one column – subcontractors/writers/contractors! I’ve hired my very own virtual assistant to help me out behind the scenes, and I have hired a couple of subcontractors to help me out with my Pinterest client workload. Building a team isn’t easy, but it is a lot of fun, and I’m confident that these steps will help my business grow even further. I’m now able to take on even more clients each month!
Total Revenue ($9584.39) – Total Expenses ($2510.30) = $7074.09
Keep in mind, my net profit is before my 30% held back for taxes, equipment costs, etc.
For larger yearly subscription expenses, rather than split the payment across the next 12 months, for these reports, I am going to include revenue and expenses when they are paid to make it easier on myself to create these reports accurately. Months that yearly payments come out will definitely have a higher expense number but that’s how it rolls when it comes to online businesses.
My Goals for November 2019:
- Make a net profit of $7000
- Gain 2 new Pinterest clients
- Have 5000 number of monthly views on my website for the month
- Post 10 blog posts this month
- Grow my email list to 350 subscribers
- Send out 2 email newsletters
- Create a new opt-in Freebie
- Create 2 new template sets for my design shop
- Make $200 in affiliate marketing revenue for the month
- Create and finish a Resources page for my website
- Post consistently on Facebook and Instagram
A lot of these goals are ones that I didn’t hit in October that are now being carried over to November. I have high hopes for November and December, and feel like I can hit these with some better time management and processes in place.
I’ll be posting an income report for November to see if I met my goals for the month!
I hope this freelance and blogging income report was interesting to read!