Are you ready for the July 2019 income report here with me Jerry Banfield, full-time YouTuber and entrepreneur online?
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How much money have I made in July 2019? How did I make that money? And what did I spend in relation to getting that money?
I think it's really helpful to talk about money openly and honestly, especially when it's hard.
I've earned $11,000 even this month, which is cool and I've actually spent 21,000 this month for a -$10,000 for seven months in a row with a $10,000+ more total expense than earn.
This has been a rough ride for me mentally because I was wake up in the middle of night wondering how I'm going to make this work, frustrated, impatient, all upset.
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I thought about quitting my business again today. Like I'm just gonna stop doing everything. Stay at home with the kids and let my wife work.
I see this as a test of faith. How much do I really love what I'm doing? And how much can I help others?
To get the $11,000 a month let's take a look at the actual income and we'll talk some more about the expenses, I find it's really helpful to show where money's actually coming in. So we'll show you the main sources of income.
The top source of income was PayPal, thank you to everyone who paid for something via PayPal $6,000 in income coming through my PayPal account, including $2,000 of partner memberships that went straight through to paypal instead of Uthena given my fooling around with the pricing last month.
I am grateful that I also got over $1,000 from SkillShare into my PayPal account last month plus some of the sales from Uthena which were also included in the Stripe sales $1,473 in from Stripe.
Amazon the most disappointing out of all the income sources I've ever done. I have 21 books on Amazon, I do affiliate marketing and absolutely nothing works good enough for me on Amazon $112 of income absolutely awful.
My audiobooks I've got like $90, I don't even know how many audio books I have, income from the audiobooks is down. I've been promoting them that much. Officer Banfield is a masterpiece audio book, according to my editor who edited all my books, you might enjoy that.
If we look through here, there's also one other biSg payment and that is the Google AdSense payment for my YouTube ad revenue.
The highest it's been in maybe a year for which I'm really grateful for and I see a lot of upward potential there.
In order to set this up, I've spent years building a business online, I've put out 2000+ videos on YouTube, I've done so much online and sometimes I get into that self pity trap of,
-Really? All I get the $11,000 this month, I'm ashamed to show you that all I earned was $11,000 this month.
And that's the problem.
You might say with having things go well, when you've had months where you've made $90,000+ in one month, it screws up the judgment in your brain of what is a good month.
Thank you for $11,000 and income this month. I'm very grateful for that and that is enough for now.
Let's take a look and go back and talk about some of the expenses more. The main two things I spent money on were contract labor and advertising.
The majority of contract labor expenses, being at least half of them being things on Upwork that I'm working on. For example, I've got new blog posts coming out on my website, I stopped paying to produce video courses on Upwork after I've spent something like $80,000 this year and it looks like without being able to use my powerful Udemy profile as I did before the whole sale system won't work.
Selling video courses as so many other people and companies are getting into the game. It's not what it was four years ago. So far, I've made the smallest amount, maybe $10,000 back on the $80,000 thousand I spent to have courses filmed.
I'm not paying anyone else to produce courses. I've also stopped the advances on Uthena.com to put courses up, we already have 395 courses up and we're happy to give you 60% of affiliate sales and 80% of organic sales.
Let's talk some more about the contract labor expenses.
Things like graphic design are in my contract labor I spent $3,000 or so, on graphic design services last month, which gives me a total of three thumbnails a day. For my YouTube videos just like this.
This is a really helpful service I pay for because having a nice thumbnail likes this make a big difference for the YouTube click through rate and I am paying $20 per thumbnail. So as you can see, I got a lot of thumbnails more than I needed.
I also did some other side projects in design. I also paid for help with uploading YouTube videos and managing Uthena and that covers almost all the contract labor expenses.
Now fortunately, as I'm looking at my credit card down to $23,000. And I'm going back and forth between fear and faith on finances. I'm seeing that fortunately, I can reduce or eliminate almost all the content contract labor I'm paying for in any emergency, pretty much everything except the graphic design could be cut down drastically if needed.
Most of the advertising expenses, maybe I need to keep maybe $1,500 a month of those going. However, I'm spending all this money to build a business that's better that helps more people as we can.
As we can see from how I got here, I spent a lot of time in my business, not thinking about how I could help the most people and doing things that didn't work out very well. You do need to spend money to make money.
The year I made the most money so far online, I made over $250,000 profit in 2016. What I can say is the two years before that I spent 10 times as much money on investing in my business compared to all the other years of my business
I imagine there's a lot of good opportunities coming my way and whooa! It's bad burden me up waiting for them.
I've been down to tears and raging frustration of bunch of times. And yet I persist. I persist.
I'm seeking investors I'm seeing the comments on YouTube is people laugh and scorn and I persist anyway.
Let's take a look at Uthena.com this is where I'm seeking investors to build a version of this the truly has the most valuable company in the world potential. Because of having one good place to go to make money online. I've got a functional setup on Uthena for selling courses.
I've got my Partner Program, one of the top earning things on my entire business was my partner program last month, and I imagine that has a lot of earning potential going forward because it's got a lot of helping potential.
If I had to start my business all over, I would immediately join something like my Partner Program, because you the learning and growth that happens here. Yes, while I'm frustrated at earning $11,000 a month, I know a lot about how to build up a business. And I'm consistently helping my partners build their businesses.
Ironically, lots of times that I'm able to help my partners better than I'm able to help myself, just as lots of times we can look at somebody else's life and tell them just what they need, then we struggle to figure out the same thing in our own lives.
I'm very grateful for the new partners we got last month and all the partners that have stayed, the partner price has went up from what it was before and that's because I've started offering one on one call with it now, because I see this is a critical part of making a valuable group.
Some people just can't make the group coaching calls. And the one on one calls have proven to me to be one of the best ways I've helped people consistently over time, especially when matched up with the group calls.
Thank you to everyone who signed up on the Uthena scholars for 395 courses for $9,81 a month, you can see the sales report for Uthena, anytime in real time. I did a filter and the current the earnings in July were $2000 in total sales on Uthena last month.
You can see everything that sold the exact price people paid for it. I'm very grateful for the income from everyone that bought something last month on Uthena.
I've also a lot of the contract labor that I went to invest in has been towards getting my blog, top of his game, my search engine traffic is going up quickly in Google.
There, you will see about three or so new blog posts every day on my blog, every YouTube video is getting transcribed into a blog post. And I'm focusing this so I'm spending this money because when you build up a strong content marketing and organic traffic foundation, you have a business that can consistently grow.
That's one of the things I have went up and down with in my business, the times I've done good on that things have went well the times I've slipped on that and done things like not got my videos transcribed into blog posts, it just as this negative reinforcement loop downwards.
I appreciate you reading this whole post, my intention is to keep my videos a bit shorter as well. There's been a lot of mental and emotional pain with me growing my business.
It seems to me that's a sign of going in the right way direction.
Often learning is painful and uncomfortable and I imagine when one month I've earned $100,000 in income and now the business is making a whole bunch of money. I'll be telling you look, go back to the income reports January, February, March, April, May, June, go back to those income reports in 2019, where I suffered and struggled and didn't even want to talk about any of this and you'll see that's how I built the business up to this point.
I think one of the key things to do is to imagine, I imagined stuff like that all the time and that helps it manifest into reality.
Thank you very much for going through the entire income report here with us in July 2019.
You can find a link in the description to see all the income reports over time, I trust your help us grow on YouTube.
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One new thing I've got this month I'm really excited about as I'm consistently offering and mentioning sponsored videos with me, you can have me do a video about here if you can help me earn and you can help me share what I learned about whatever you want me to talk about with anyone who's willing to watch, listen or read with me.
I've got a really cool sponsored video, you can take a look at and the Partner Program and we'll see how these do over the years being a full-time YouTuber. These are two of the things I'm using to monetize above ad-revenue.
Thank you for reading every word of this I love you. You're awesome and I'll see you in the next post.
Love,
Jerry Banfield
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