216 - February Profit Report

On today's episode of the Unf*ck Your Biz podcast I review my February profit report. If you’re new to the podcast, check out episode 186 where I reintroduced Profit Reports back to the podcast. 

 

Coming up on March 14th at 9am PST I am hosting an Open House. I'm calling it the anti-webinar and if you've been curious about how to get access to all my resources or work with, I'm going to be sharing a new offer in order for you to have me as your tax and legal friend on demand. Unlike 1:1 legal services, you'll have all the tools and resources you need at your fingertips at an extremely accessible price point. Click here to register for the Open House.

 

Spoiler alert, this was not my best profit month. In fact, I didn't even come close to my February profit goal, but that's business.

 

On January's profit report (listen here) I talked about my goals for 2022. We are trying to book 25 PR spots each quarter. I have a goal for downloads of my own podcast so if you're reading this and loving this episode, please share it with your friends. My good, better, best goals for revenue this year are $200k, $225k, and $250k, with 70% profit. Q4 is typically my highest revenue quarter so doing projections is often a roll of the dice. My Q1 goal is to hit $45k in revenue. My goal for MRR (Monthly Recurring Revenue) is $5,000 - $6,000 with my expenses never exceeding 40% of my MRR.

 

Here is my February revenue breakdown: 

~$5,000 came from Profit Rx

$1,980 came from Contract Vault

$1,800 came from Tax Season Playbook, not even 40% of my goal

 

My expenses for the month were up as well, meaning I did not hit my 70% profit target. My expenses were at about $5,000 but this was exclusively because of one expense in which I purchased a $2,500 expo booth for a conference later this year. I also had a couple of subscriptions that went on auto renew for the year so I need to make a note for next February.  

 

My March goals are:

  1. Hit 80% profit

  2. $20k revenue mark

  3. $8,000 in Profit Rx sales

  4. $1,500 in Contract Vault sales

  5. $300 Speaking Fee

  6. $750 in Tax Season Playbook sales

  7. 20 sales of Renee Dalo's Bundle

  8. Book 2 VIP 1:1 Days but up to 6 depending on how revenue is tracking

 

If I hit these goals this will make up for February and average out my Q1 as I was $1,000 ahead in January and $6,000 behind in February leaving me $5,000 behind going into March.

 

I'd love to hear what you think about the profit reports. Send me a DM on Instagram or post them in my Facebook Group, Braden's Besties.