Hey, friends! Today we are super excited to bring you another Boss Project profit report. As you may know, we love sharing all of the behind-the-scenes data about what worked, what didn’t work, and how everything got split up within May of this year. In this episode, you’ll get a little peek behind the curtain of our business, comparing last year to this year, and asking the hard questions for you to consider in your own business.

Before we dive in, we want to know: are you joining our podcast party? Because if you haven’t yet, now is the time! It is super easy to be a part of it. All you have to do is make sure that you are subscribed to the podcast, take a screenshot of the show, and share it over on your social media to be entered to win our monthly contest. Plus, make sure to leave a rating and review! As part of the perks of winning, you get to choose your prize: either a free copy of Trello for Business or one month free to the Creative Template Shop.

We have this theory that you can make less revenue and walk away with more money in your pocket if you do a few very strategic things. Like many of you, we came to a point in our business where we were ready to see big growth—and we don’t mean make a little bit more money, but exponentially more! Who doesn’t want that, right? And we managed to do that. In the first six months, we made $100,000, doubled it four months later, and we went on to have a multiple six-figure business in our second year, and over $500,000 the year after that. We just kept going after bigger dreams and pursuing more.

But we believe there are some things you can do to help you along, and it doesn’t include focusing on that top-line number—which you can shoot yourself in the foot with. We know people who look like they are super successful online, but when you dig a little deeper, you would discover that they set themselves up in such a way they get to keep very little of the money they make. We were headed in this same direction. In this episode, we talk about this learning curve we experienced in 2018 and 2019 during which we thought we needed to do XYZ when we didn’t! Besides, what’s the point of reaching your big goals when you are not personally making any more money? Stay tuned to find out.

We dunno if y’all noticed, but March was weird. March was also hard, hurtful, and 7,000 times longer than January. That’s probably because March asked us to adjust to a new normal and we were still getting used to being home—all the time. And we’re not here to pretend like our situations are better or worse than anybody else’s because, like you, neither of us knew what was going to go down in 2020. What we do know is that this period will be a watershed in small business, the impact of which will likely be felt years from now.

While we don’t know how this will pan out, we can give you our March profit report and roll it out into a Q1 report in general for you guys to see how the first three months of the year went for us. You can always DM us if there is anything you want to know that we didn’t cover—we’re all here to learn together, right? In this episode, we tell you how each of our products fared, including the surprises and the disappointments we had and how we overcame certain obstacles. One thing is certain: tuning in to this episode will encourage you because we show you how reaching your goals is still possible!

Hey friends! We are back for another profit report. It is time to break down January’s profit, the first profit report of 2020, and we are super excited! If you’re new here and this is the first profit report you’re listening to it might be a little bit different than what you’ve seen floating around online where people do ‘income reports’. We decided last fall to change up the narrative, not only for ourselves and our mentality when we’re talking about business and our own goals but also for the ‘comparisonitis’ that happens. Sometimes when you hear income reports where people list high figures and goals it gets really overwhelming and unattainable, and we can’t really compare that progress or those strategies to our business because we feel like the expectations are so different.

So, what we have tried to do is share percentages and profit. We have made it a goal to focus more on profit than big, shiny, sexy revenue, and that goal is continuing into 2020. It feels really good too! So, throughout this episode, we’re going to share percentages of products or expenses in our own business so you can begin to see the weight those things bear on us, and can make easier comparisons with your own business too!

You may have wondered what kind of revenue our business made over the holiday season, so today we’re giving you all the details about December. So, even though we’re properly settled into 2020 by now, let’s just backtrack a little to the end of 2019 – because there’s still something we can learn there. During this past December, we took time off for family and enjoying the holidays, but we also prepared ourselves for a big launch in January. We recognized making a big profit was not on the cards for this month as we had other plates spinning and purposefully decided to focus on our long-term vision. 

Sometimes it’s okay not to have profit as your biggest priority each month because as your business evolves, different things are required at different times. Sometimes you have to do the groundwork for what is to come and sacrifice the quick short-term cash and by listening to this episode, you will hear that this was what December looked like for us. Still, we talk about the outstanding performance of our Trello for Business course, why we expected a decline in profit from Strategy Academy, how we’ve rediscovered the power of strategic emails, and a whole lot more! 

Today on the show we welcome Justine Nelson, founder of Debt Free Millennials. Justine is on a mission to advocate for a debt-free lifestyle, and today you will learn how this is relevant for your business and how it can fuel your personal financial goals. By the age of 25, Justine Nelson had paid off $35,000 in student loan debt making an average of $37,000 per year. Grit, discipline and a motivation to kick debt's ass for good helped her achieve this goal within two and a half years.

In this episode, we talk about leveraging your side hustle to pay off debt or save for that dream vacation, Justine’s go-to worksheets and business books, and a list of things you can do each month to ensure that you stay on track with your goals. We also talk about bookkeeping systems, budgeting, planning for annual subscriptions, and setting measurable goals. Now that 2020 is in full swing, why not tune in to this episode and learn how to get your debt and savings dealt with? 

Welcome to the November profit report! All businesses experience ups and downs – we do too – and sometimes what at first seems like a minor thing turns out to have a big impact on profitability. You all know by now that we’re all about profit here at Boss Project and we’ve spent too much time focused on the top line that we missed many of the intricacies going on in the background of our business. We’ve been showing you how to stabilize your profit and our own goal is to get to that 30% mark, but we also understand that there are many moving parts – things that are beyond our control – that ultimately determine your profit. For starters, it’s imperative for you to know exactly what comes in and goes out of your business every single month and to be truly aware: you can’t fix something if you didn’t know it was broken! Three factors impacted us negatively in November, two of them were actually preventable, but now we know and we won’t make those same mistakes again. 

When we talk about being aware, you have to know your awareness not only drives your decision-making, but it makes you alter your focus on the flip side. It’s not necessarily that you need to decrease your costs, but it’s about looking carefully at what the root problem is. Something might even seem like an issue when it really isn’t. That’s why you never make decisions on a whim: decisions should be made after digging deeper to find the underlying problem. When you have this kind of information, you might look at your results differently. Join us again today as we take you through the highs and lows of November 2019! 

So Emylee has been following a new Instagram account and just wanted to share some of the amazing data that she has been geeking out over for the last while! We have selected four specific posts that she found thought-provoking and worth talking about and will be unpacking what they are about and what we can learn from them. The account is called Chartr Daily and they post charts and graphs that represent interesting statistics and facts from the business world. They often add some commentary and discussion in the description, as well as having a newsletter with more detailed information. 

Here at the Strategy Hour, we love looking at charts! They might be slightly more difficult to make but that does not mean we cannot appreciate and enjoy what they are communicating! The four charts we have selected to discuss in today's episode are especially applicable to us, our industry and the conversations we have been having on this podcast, so head over to have a look at the posts and let's get into some strategy!

It’s time for another profit report! These are not an excuse to talk about our business – we truly want to arm you with helpful information that you can apply to your business as a full-time creative entrepreneur. Ups and downs are a natural part of any business, so we want to give you a glimpse into our month-to-month profit not so that you might compare your business to ours, but learn from our mistakes and find your own rhythm. We aim for a 30% profit and share what all our expenses are each month and the different sources of income over that period so you get all the details. Today you’ll learn what profit means to us, how our summit sales performed, why you must get hooked up with sponsors, the ins and outs of payment plans, and more! 

Today we’re sharing with you our profit report for September. This is such a great opportunity for us to reflect on our business while also giving you a sneak-peek into how this might be applicable to yours. And before you think this is going to be boring – it’s not a traditional income report and we’re not giving you every single figure because it leads to a lot of unnecessary comparisons, disrupting the possibility of learning something. 

In this episode, we’re going to go over what worked and what didn’t, where the money came from and how it left, and what profit was left right at the end. Comparing September’s report with the previous month’s will also be helpful in understanding the unpredictable nature of business and will be a good starting point for getting some new strategies in place.

Today on the podcast we have Braden Drake, a California licensed attorney with a master’s degree in tax law, joining our conversation. He runs an education company that teaches other small business owners how to get the legal and tax stuff in order to ultimately unf*ck your business framework! He’s a pro at sorting out all the accounting and tax mess we make in our businesses, all those things that are totally befuddling to most of us! 

You’ll be happy to hear that he dishes out a lot of great strategy regarding lawyer-y things, and towards the end of our talk, he also gives away an awesome resource. If you need to do some damage control or brush up on your know-how around the sticky issues like choosing the right entity, paying quarterly taxes and avoiding Frankenstein contracts, be sure to tune in!