In this week’s episode, we take a look at the role of the integrator in online businesses. We discuss how the role has come about, what exactly it entails, and how hiring the wrong integrator places your business in jeopardy. While the role has gained significant traction in the last few years as a necessary step for any expanding online business, there are also some serious pitfalls that need to be considered!

Can you believe it’s already time for another profit report? Literally, before we hopped on to record this show we were like what happened last month, what month was even last month? We couldn’t have told you! There has been a lot going on, and it’s not so much business – it’s like, life is crazy right now and we are keeping it together but hanging on by a thread. It’s a lot!

But August went so well despite what typically happens, which is sometimes a hot mess. And we definitely want to get into all the data around that, but one thing we did, as most of you would have, was throw out our 2020 plan. We didn’t even have one and just have been taking every month at a time. We expected we would have a dip in August, and then when we got on here, we were like, ‘Oh my gosh.’

Today on the show we have Rachel Proctor, an author, speaker, and second-generation entrepreneur who helps people turn ideas into successful online businesses. She is a self-proclaimed market research junkie, she’s hit seven figures, and she knows what she’s doing, having built a versatile and trusted learning resource hub for aspiring and successful business owners. In this episode, we get into Rachel’s belief and strategy that there is no better time to start a business than right now, even in a crazy 2020, even with less time – now is still the opportune moment! She explains why she believes that and dishes out tangible steps to figure out what to offer, how to find out what you’re good at, how to find people to pay you, perfect your process, grow, and everything in between. So, for those of you who had an idea and dropped it once the pandemic hit or are just ready to take the leap but don’t know where to start, tune in to learn more!

Let’s get into our July 2020 profit report! This year has just been super satisfying. Around fall last year we had decided and declared out loud to you that we were on this mission to get to 30% recurring profit each month, and at the time it felt like climbing a mountain. We were just really struggling and had spent all this time and money trying to figure out who makes up our team, what our products are, and how we are selling them, but something about this year just really clicked for us!

We started sharing our profit reports last fall with this goal to hold ourselves accountable. We know you guys like to hear behind the scenes. We also restructured how we did our profit reports. We don’t do it like how a lot of others do it where we don’t share our actual numbers – not that we don’t want to, but we honestly think they are distracting and put you in a space of ‘comparisonitis’, and no-one needs to suffer from that. So we wanted to showcase more of the percentages, breakdowns of our expenses, our profits, and just big picture decisions that we make every month in order to reach our goals.

Income reports can be super distracting and set you on a road of comparison, so instead of focusing on the exact dollars, it might be more useful to look at the profit and give you a breakdown of the biggest sources of income as well as the major expenses. Therefore, we are calling it a profit report and we want to ask all of you, even before we start, to DM us feedback – whether this format worked and helped you in your business. 

In this episode, you will hear more about our thought processes around profits and expenses, but it is important to keep in mind that there are many different ways in which to approach this, so we are not suggesting that you replicate exactly what we do. For the sake of transparency, we also want to let all of you in instead of just talking about the topic. We believe sharing the truth about our business will be of much greater value to you than simply giving you a blueprint for what it should look like. The focus should be profit and figuring out what your goal is in this regard is more important than being able to say you are a six-figure business. We’re baring it all today, so don’t miss out!