Monthly Income Report for June 2016
This is my monthly income report. I share my monthly income so you can see the effect my advice has on my income. If you are a fan of John Lee Dumas, Pat Flynn, Michelle Schroeder, etc then you will love reading my income report.
Every monthly income report I share my three income streams. I diversify my earnings for two reasons.
1)Diversified earnings protects you from low income periods.
2)More streams of income means more income which means more freedom!
If you are interested in creating multiple streams of easy to manage income then you should get my Epic Guide To Start Making Money Online Today. In it I share my best content on how to increase bookings, charge more and find better clients.
I have three source of income:
I am finished touring. My next season will start eleven months from now. I will not start booking new shows until November and December.
Since I will not be booking shows for a few months I am going to keep this section short.
Last month was an average month in my shop. My income stream from the shop has shrunk for two reasons.
1)The silver and gold market are fluctuating.
2) This is the season for big coin shows.
How To Have a Good Month During a Slow Season
I had a good month in June. My income rose because I took in more scrap gold, scrap silver and I landed two coin estates. I increased my stock, made money and found new clients.
I spend a lot of time networking. Everywhere I go I tell people that I handle estates, buy gold and silver and sell coins. I also publish weekly articles in magazines in newspapers about antiques, coins and unusual memorabilia.
The other coin and gold shops in my area don’t profit from being a coin shop. By focusing on outreach, creating multiple streams of advertising (marketing, billboards, ads, writing articles) and offering amazing prices I make a profit.
Use this approach when marketing your business, side hustle or online stream of income! If you want your hustle or business to succeed you need to leverage multiple outlets. Target your market and grow your outreach!
What I Made This Month
This month I did well enough to pay myself. Every month the shop makes money but I only pay myself every couple of months. I don’t use the shop as a direct source of income, instead I use our profits to increase our stock and marketing outreach.
Total Earned: $2087.00
Last month I talked about how I raised my rates and I was worried my income would shrink for a short period as I adjusted to the market. My income dipped a little (less than I thought) then I hit a transformation! This month was my busiest month for online work!
How I Booked Two Major Clients Without Trying
I booked two major clients in the month of June. Both clients contacted me for work which meant I skipped over the vetting and proposal process and jumped straight into writing. How did I get two clients to book me without sending out proposals?
The two clients who booked me did so after reading an article I wrote online. They were impressed by the quality of my work, research and writing and wanted me to represent their content online. However there was one catch.
Both contracts came with the same catch:I couldn’t start working on the content until the middle of the month and the largest part of my payment would not be paid until July. If you read my income reports you know that this can happen.
The catch meant I booked two large contracts for the month of June, enough that I couldn’t take on any other work, but most of my income won’t be realized until July. I was okay with the catch and trusted both of the clients so I took the contracts.
So What Did I Make This Month?
The month of June I got paid twenty percent of the total value of the contracts. To be specific I got paid twenty five percent on one contract and ten percent on the other contract.
The money I received this month was small. That is why I urge freelancers and business owners to not think of their income month to month but instead as an average for the year.
By thinking about income in longer terms instead of month to month you can understand the impact your growth in freelancing, side hustle or online business has on your take home income.
I made $513.00 copywriting in June. That is a small amount of money. However the total contracts amount to over $3,000.00 in work. If you average that out over two months that is $1,500 extra per month.
Total Earned This Month:$513.00
This month there are two key takeaways. Key takeaway one is to average out your income over the course of the year. Averaging out your income allows you to see the larger impact your yearly income experiences. This will keep you motivated during the down months.
Key takeaway two is to increase the outreach of your marketing while remaining true to your targeted demographic. I increased my coin shop and online income because I increased my outreach (both times through writing). The cost of increasing my outreach was little (outside of my time) and it multiplied my income. Figure out where the most profitable places to invest time over money to increase your income.
Want To Earn $10,000 Extra Per Month?
We all want more money. Some people want more money to experience greater freedom. Some people want more money to take that trip they have always dreamed about. Some people want more income so their family is financially secure.
What would you do if you could increase your income? Would you finally take that trip you’ve been dreaming about, fly you and your friends to some far off place? Or would you settle into an amazing meal on your new furniture?
What if you could increase your income $10,000 a month? Sounds crazy right? Well I did it. In fact I did it multiple times. Want to know how I did it? Want to know how you can have your first $10K month?
Get Your First 10K Month.
You can book your first 10k month using simple, easy to employ strategies. The system I teach in my Epic Guide takes you from zero to booked in the space of a few months.
Think about where you will be in six months while using a system like that, a year? Do the math. Even if you fall short every month think about how much extra you’d make.
Multiply Your Growth
What would you give if I could set you on a course to earning massive amounts of extra income, enable you to leave your job and work anywhere in the world in less than six months?
You’d say I was crazy, that nobody could actually do it. Well I did it along with dozens of my students.
You interested in learning how to:
*Use Your Writing to Increase Your Income
*Get People to Like You and Negotiate for You!
*Master Negotiation Skills
*Make More Money Without Tons of Marketing
*Find the Best Clients
*Do The Work You Love
*Pay For Freedom You Dream About?
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