Would you like to read my January 2020 income report because if you want to have a business online, this will help you to see where the income comes from and where the expenses are?
Income Report for January 2020!
I'm so excited to share the January 2020 income report with you today because thanks to all your help and all you've done we've got the best numbers this month that I've seen in my business in years in terms of the lowest expenses and the highest profit without any significant earnings from crypto.
Let's take a look at the January 2020 income report today.
I'm grateful to see the income has grown quickly from Jerrybanfield.com and Uthena.com, which is where I've been focusing my business, seeing that having a website where you bring everybody to, is a very wise way to set up your business and make a strong foundation.
$4,928 from Jerrybanfield.com and Uthena.com sales.
The next source is StackCommerce, and then after that is Skillshare.
These are websites where I have my older online courses available.
If you look at jerrybandfield.com, these are the main things I'm selling on my website and I just got my pricing page updated.
I've got my online courses, I've got my calls available for partners. I've got access to events and forums where you can ask questions, and this is a main thing I'm selling on Jerrybanfield.com.
Then, on Uthena.com, which is a Private Label Rights marketplace, this Jerry Banfield Forever All Course PLR bundle is the main thing I'm selling, although there are hundreds of other Private Label Rights courses available.
It's probably smart to show you where the income actually came from.
Next, we've got Google Adsense and these are ads on my YouTube channel where the ad revenue is consistently going up, which is awesome, even though it's the lowest time of the year in terms of ads, because I've put out so many videos on topics where advertisers will pay a lot.
My ad income is consistently going up and we're looking to be in a $2,000 to $10,000 plus a month range by the end of 2020, which is so exciting.
Then I've got $400.
I sold my Ableton Push 2 on the Facebook marketplace for $400 and since that originally was a business expense, that is appropriate to put it as a business income.
I sold that as a part of my commitment to sell my extra equipment, and cut back.
I also earned $228 from Patreon.
These are my expenses.
Now, I've learned that the key is cash flow.
We want the income to be much higher than the expenses.
The highest expense is $2,500 in contract labor to Michel Gerard, who is the right-hand man in my business, who allows my business to bring in more traffic and make more money, and he runs the day-to-day operations of Uthena.com, which helps out a lot.
Then the next biggest expense is advertising, which is significantly lower than last month and we're aiming to get that down even lower.
We have about $600 in interest on the loans I brought last year and a $356 on equipment.
These are the advertising expenses breakdowns.
I'm cutting that biggest expense, Google ads because in terms of productivity, it's important that I make decisions which eliminate lots of other decisions because I do so much for my business.
It's important that I really focus on what I do that's most valuable, and thus, I'm cutting that Google ads expense going forward and that'll leave me with really small advertising expenses.
WooCommerce.
I spent the $199 on WooCommerce so that I could add on to the Jerry Banfield University, the $19.95 a month option, which I'm so excited about because that gives you access to all my courses, events and forums for a very low price.
I needed to pay $199 in WooCommerce to get that.
I also have Zoom.us, which is $149 a year and that allows me to have my partner calls that I'm going to start recording and sharing directly on my YouTube channel. This will allow you to hear and learn, and see what we're doing and talking about in the partner program, and why that higher membership price of the partner program is worth it.
I got my web hosting down significantly on Kinsta, although it will be about $200 the next month.
Dropbox is $45.
Then, rev.com, which I'm using for automated transcriptions that then Michel Gerard with contract labor turns into blog posts on my website, which bring thousands of people for free every day to my website from Google.
Michel is handling that and rev.com makes it easy. It gives Michel a pretty accurate transcription, which he turns into beautiful blog posts.
As you can see on my website, when you go to my blog, these are blog posts Michel has done from an automated transcription.
When we look at the totals $5,000 plus in profit last month. I'm so grateful and excited for that.
This has been such an adventure because at other times in the past in my business, I've had months where I've earned 50, 60, 70,000 dollars in profit, and then last year I had a lot of months in 2019 where I actually spent more than I made.
This is the highest profit I've made in over a year and in about two years without having a lot of money coming in from cryptocurrencies.
Thus, I'm so grateful to be getting back to basics and making outstanding business.
I'm grateful for all the help you've done by watching videos, liking videos, buying things on Jerrybanfield.com and Uthena.com.
The question is now, "Okay, where do we go from here?"
My focus going forward is on free traffic via content marketing, all of which route people to my website at that pricing page and gets people also to the homepage, to the blog and to the forms, to get people spending money with me here and on Uthena.
I want to do that totally for free with just putting out outstanding content videos like these blog posts and one big change I'm making, I set up my studio.
I'm so excited about this. I just set my studio up so I've actually got my camera vertical look.
That camera is now vertical. I've got the camera set up vertically in my studio, which means that I now am able to record story videos that I can put out on Facebook stories, Instagram stories and YouTube stories.
I can put these videos up on Linkedin and I can put them on Twitter if I want to, and I can put them on TikTok.
That is helping me focus, and let me just take the most organic reach I can get totally for free, forget completely about advertising, and focus totally on content creation, route everybody over to my website at jerrybanfield.com and Uthena.com, then have the highest amount of earnings in terms of profit because the expenses are so low.
That focus is feeling really good, looking at that, instead of taking all that time to do ads and therefore going forward, it's essential to continue with low expenses because as you can see, I made that much income or more loss, plenty of months in 2019 there are months I made over $12,000 or so income.
However, in 2019 I spent so much money that most months I actually lost money and that was a very good lesson.
Thus, it's essential to continue with those low expenses to make sure the profit goes up and up, and I imagine that we'll be seeing $10,000 a month and more profit relatively soon as I totally focus on the free content creation.
Thank you for reading this entire post.
I am grateful for all that you've done. I'm focusing on making an outstanding experience for you on my website. You can watch all my online courses on my website.
I'm continuing to put more of them up. There are hundreds of hours of courses up here already.
If you want to ask me questions, the only way to do this now is either in my forums, which I just launched within the last month or in my partner program, and you can get all that at Jerrybandfield.com/university for the prices we've gotten up here.
On the next month's income report, you will feel good that you made a significant contribution to it.
I've also simplified the order process on this. I had a cumbersome order process before. Yesterday, I just put in a plugin and it makes it super simple.
You click, "let's go on the monthly" and all you need to do is put your first, last name, email in here, credit card information, and you are signed up.
Or if you choose the lifetime membership, it's the same simple process.
Thank you for being here.
I love you.
You're awesome.
I appreciate the chance to serve you today and I will see you again soon.
Love,
Jerry Banfield
Edits from video transcript by Michel Gerard.
Posted from my blog with SteemPress : https://jerrybanfield.com/income-report-january-2020/