362 - October Profit Report

Unf*ck Your Biz With Braden

On today's episode of the podcast I'm taking you through my October revenue, expenses, profit and goals. I'm using my downloadable guide, How To Conduct a Profit Report for Your Business, to record this episode.

Get your free copy of How to Conduct a Profit Report for Your Business at www.notavglaw.com/355 and listen to episode 355 to hear me break down step-by-step how I structure my own profit reports.

October Projections vs. Actual

• Monthly Clients: $9,250 → $10,220
• UYB: $750 → $1,625
• Contract Club: $1,200 → $3,300
• 1:1 Services: $2,500 → $5,050
• Other: $4,000 → $2,100

Total revenue: $17,500 → $23,735

Profit

Total revenue: $23,735
Cost of Goods: $65 (printing my books)
Expenses: $25,245
Profit: - $1,500
Owner's salary: $5,300

Total profit: -$6,800

While this is not great, I was prepared for the expenses to be high. I went to the Kajabi conference in Los Angeles and the hotel alone was $1,600. I booked hotel rooms for Wedding MBA and I had a team member forget to clock out so I paid them double as much (not a big deal, that will get remedied next pay period).

Notable Expenses

• Employee wages: ~$9,000
• Contractors: $4,500
This brings my team expenses to $13,000

• Affiliate payments: $4,000 (This was high because we paid out some lagging affiliate payments)
• Marketing: Higher than average due to conference planning
Annual Goal Review

• Annual revenue: $300k. We're roughly on target but need to have a pretty big November and December
• Profit: 20% margins. I used to have a goal of 50% but I'm spending a lot more now on team expenses.
Current Project Plans

• Alumni membership launch for Unf*ck Your Biz students
• Wedding MBA
• Contract Club price increase promotion
• Contract Club affiliate promotion - Become an affiliate at notavglaw.com/affiliate
• Big December Unf*ck Your Biz launch
• Launch the Compliance Club (aka the Not AVG Newsletter) - Learn more at notavglaw.com/compliance

Key Performance Indicators

• On our social platforms we had about double the amount of followers we normally get due to meeting people at events.
• Higher completion conversion of our quiz

November Projections

• Monthly Clients: $8,500
• Compliance Club: $13,000 (100 members between monthly and life time)
• UYB: $0 (payment plans will be wrapped up)
• Contract Club: $7,500 (150 joining before the price increase) - This should shift to December because if Black Friday is the 29th, this won't hit our bank account until December.
• 1:1 Services: $2,500
• Other: $2,500

Total revenue: $33,500
YTD Revenue

• Exceeded October revenue goal by almost $7,000
• Exceeded October 2023 revenue by almost $4,000
• Annual goal of $300k revenue looks possible if we have a strong promo for the Compliance Club, but that we could at least pass last year's revenue of $270k

Get your free copy of How to Conduct a Profit Report for Your Business at www.notavglaw.com/355 and listen to episode 355 to hear me break down step-by-step how I structure my own profit reports. If you

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