Monthly Earnings Report:
Every month I am going to lay out my income report. This is to reflect the success and failures I experience using the methods I blog about.
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I have three source of income:
My entertainment income this week was $0. The reason for this is that I have booked a full tour and have no more open dates available for the season. So it is a bummer to not have any extra income coming in but it is also amazing knowing that I worked hard to book a great season.
Extra Money, Extra Frustration
A lot of people have emailed me asking me why I don’t take extra bookings and farm them out to other entertainers. It was funny to see those emails because every variety entertainer dreams of being an agent.
I understand the surface appeal of being an agent. You don’t have to do the show, you take a cut of the profits and everyone goes home happy. In the real world entertainers don’t show up, client’s refuse to pay and shows end up being not as good as promised.
Profit to Struggle Ratio
I believe your profits should match the effort you have to put into them. Booking extra shows and then farming the show out and taking a cut of the profits is to much work. I would have to find multiple entertainers, vet all of them, make sure they get to shows, the client has a good time and that I follow up with everyone.
The amount of time I have to spend to make sure everything turns out okay doesn’t match the amount of profit I earn.
There will be a big uptick next two month from my bookings!
The shop had an okay month. I was honestly surprised. Normally March is an incredibly slow month (this was the first year we made a profit). Why? Most people get their tax rebate checks in March so very few people are selling stuff to get money.
Coin Show Season
Another reason March is a slow month is that the end of March and first half of April are when the big coin shows are in our area. Whenever a big coin show comes to town purchasing falls off for a few weeks because customers are saving up for something at the show.
We don’t participate in coin shows (or flea markets). Why? The last couple of years the coin show market has bottomed out. Vendors became competitive and started carrying wholesale products to shows instead of normal stock.
The coin show market has also bottomed out because of the gold and silver market. It used to be you would buy and sell a little gold and silver at the show and everything else was coins and estates. Now most people use coin shows as a chance to create predatory price gouging for bullion.
How We Made a Profit
We made a profit this month by serving existing customers. I know that isn’t exciting to read but that is huge. I made money this month by selling stock to my customer base, enough so that I turned a profit. That’s crazy! Most of the profit that comes from owning a coin store is buying large amounts, estates and jewelery and then selling it wholesale.
April is a weird month. Some years we do crazy numbers because people are selling stuff at the last second to pay extra taxes. Some years we do nothing. My prediction this year….BIG WINS!
If you read last month’s income report you know that my online earnings were super small. Had I failed somewhere or lost the touch? No. I got stuck in a weird billing cycle and all the money I earned last month I got paid this month.
If you didn’t read last month’s income report I made $260 although i did $1700 worth of work. I didn’t count the money I was owed because I wanted people interested in freelancing full time to see that payment plans can be weird at times.
What I Earned this Month
This month I didn’t do any work online. Why? I was in Rome and mountain climbing (article coming soon on this)! It was an amazing time. I was gone for fifteen days and during that I did nothing (well almost).
However I got paid this month for all the work I did last month. So this month I earned $1338.00 in income (if you noticed that 1338 minus 1700 isn’t 260 that’s because I included the fees I paid to my billing processor. So yes I made $102 more but since I didn’t receive it and won’t pay taxes on it my true number is 1338).
I Actually Earned More than $1338
Okay so I fell into another weird billing cycle! While in Rome I booked an email mailing sequence. I did it the day after I got back but because of when I finished I won’t get paid until next week (which puts me in the April time zone).
This is great because I started the month with an extra paycheck. The downside is that I won’t get a second paycheck in April because of the billing cycles. However I should have a larger than normal paycheck the first week of May!
March was a pretty good month! I was gone for half the month and earned no extra income from booking entertainment and I still broke the 3k mark. That is what living a gold rich life is all about! Want to start living your gold rich life? Want to be able to take half month long vacations and come home to profits in your bank accounts?
Want To Book your First $10,000 Month?
I had two $10,000 months using simple, easy to apply tactics to generate bookings, increase income and do the work I wanted. I already had two $10,000 months since I started working for myself.
You can book your first 10k month using simple, easy to employ strategies.
Think about where you will be in a year if you keep putting in systems? What if your average was $12,000 a month? Do the math. That would make your year come out to be $132,000 a year.
That’s a big number! Let’s add to it! Consider every year you are learning more, adding more value and increasing your reach.
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