February 2017: Income Report $10,990
As promised, February’s income report coming at you! Inside we’ll chat about what you don’t see (this may have something to do with our new Burrito method), our Facebook Ads experiment and a little #TeamTCC update.
Normally I’d tell you to grab a cup of coffee, but I feel like this one deserves a bag of chips and some fresh guac. Enjoy!
Why do we do income reports?
In an effort to be as transparent as possible in our own business, we have chosen to make 2017 the year in which we showcase the good, the bad and the ugly. That means we talk about money on months when we bring home the bacon and on months when we’d rather not discuss finances. We hope you learn a LOT from these reports. Replicate and tweak our strategies to use in your own business. Get inspired, learn from our mistakes and grow your own online business.
Please note: Links marked below with an asterisk (*) are affiliate links. By clicking and purchasing we may earn a commission on this sale. This comes at no cost to you and only is for products and companies we truly believe in!
February Income
Affiliate Income: $565
Course Sales: $10,425
TOTAL INCOME: $10,990
February Expenses
Stripe/Paypal Fees: $356
Groupies T-Shirts*: $220
Podcast Equipment: $79
GoDaddy: $92
Libsyn: $20
MotionMail: $10
ConvertKit*: $149
Dropbox: $99
Independent Contractors: $829
Facebook Ads: $296
Photo Props: $18
Postage: $14
Office Supplies: $25
TOTAL EXPENSES: $2,20
7NET PROFIT: $8,783
Payroll to Abagail & Emylee: $12,793.32 (both Jan. & Feb. payroll processed this month)
What You Don’t See
For some of you, nearly $11k may seem huge, but for our business, it was a relatively slow month — which we anticipated. Historically, the beginning of the year is a slow season for us as far as income goes, but that definitely means things are brewing in the TCC kitchen.
Behind the scenes we’ve been doing a TON of research on passive funnels to improve the systems we do have in place and set up additional ones — like a Deadline funnel via email, and an Evergreen webinar.
We are slowly trying to transition away from repetitive launches every month to only launching a small number of core products a few times a year. Yes, ma’am, that means something HUGE is coming this summer, but my lips are sealed on all the details.
Facebook Ads Experiment
Now that we have a bit more of a predictable income we’ve started to experiment with Facebook ads. February was focused on general audience building for both the blog and the podcast prior to our more complicated funnels that came out in March.
We’re slowly accepting that $250ish isn’t much of a budget in Facebook-land, so if we want it to make a big financial impact on our business we have to be willing to throw more at it — all in due time, my friend.
TeamTCC Update
Probably the most significant change in February was finishing the hiring process which we started earlier this year. We met with our bookkeeper Parker, who feels a bit like an older brother we can bounce ideas off of. And we finally hired Katie to help us in customer service/email management department.
Now with a fairly full part-time staff, it’s been learning to juggle people management vs. delegating tasks we’ve been putting off. Even with a stellar crew, we still haven’t totally found our groove yet (which is way more on us than them).
Stay tuned for March’s update where we talk about how we gave up email and booked the podcast out until June.
P.S. Got questions about this? We’d love to give you more info. Just pop your question into our free Facebook group! Looking forward to chatting more soon.
