This May Income report is my first ever blog income report. A few weeks ago I published ‘How much money I have, make and need’ and posted it to a couple of Facebook groups I’m in.
It was great to get so much positive feedback, so I’m pleased to share with you my first income report.
My income reports are about how I am building two creative businesses fulltime, while going on adventures.
Therefore, I’ve also decided to include how much money and time I am spending on the businesses, along with goals and the tasks I have done to increase my income.
I love any and all feedback so if you have any suggestions or ideas, feel free to leave me a comment below or contact me on social media!
My first post ‘How much money I have, make and need’ really dug deep into my current financials, expenses, living situation and general circumstances. So if you haven’t read that yet, it’s a good place to get acquainted with me!
How I spent my time this month:
I use the time tracking app ‘toggl’ to allow me to share with you how much time I spend working to give you an idea of what is involved in creating and building my businesses.
I was away for two weeks this month in Porto, Portugal for some much needed R&R. During the time away I did a lot of goal setting and planning for the next six months. However, I have not included any of that time in my report.
So below is how I spent my time during the other two weeks of May:
I spent twenty five hours working on betternotstop.
- 14 hours writing Blog Posts
- 5 hours sharing and engaging on social media
- 3 hours planning betternotstop events
- 3 hours working on my new podcast
- 1 hour admin/planning work
- 2 hours at a networking event
I published four articles:
- How much money I have, make and need.
- £10 Adventure | London Bridge Challenge | Bex Band
- Win a trip on an Artic Expedition in July
- 1000 Mile Adventure along Britains Waterways
I also sent out my weekly newsletter (every Friday if you are interested!) and started recording my podcast episodes. I’ve also started to look at putting on my own events in and around Manchester.
- 2,400 Page Views per month
- 4,799 followers across social media (Facebook, Twitter, Instagram & Pinterest)
- 91 Newsletter Subscribers (thanks to GDPR I ‘lost’ 300 subscribers)
- 2 Patreons
- $4.00 from Patreon – you can read my article on Patreon here
- £0 Affiliate income
- £0 Product income
- £10 Hosting & Domain (Read ‘How To Start a Blog’ Here)
- £23 Convert Kit Email List Manager
- £6 Gmail Email Manager
- £7 We Blog North Membership
- £15 Protect My Bubble Work Insurance for Computer and iPhone
- £28 Coschedule Account
- £9 Canva for Business Account
- £30.41 ‘Ecamm’ A Recording App for my Podcast
- £12.00 Companies House Registration
- £23.98 Two New Domain names (for new projects!)
If you have any questions about my income or expenses, please comment below and I’ll be happy to answer you.
betternotstop June plan
For both businesses I need to do two things – increase my income stream and my audience.
My plan for the upcoming month is to do the following:
Creating more valuable content
I plan to start a series of travel guides to help people plan their trips and budget in advance. As someone who has visited 45 countries, I have a wealth of experience that I can share. This month I want to publish my first two travel guides, which will be on Manchester and Portugal!
I will also be continuing my weekly newsletter and publishing articles on Minimalism, Wellbeing, and Work. You can sign up for my newsletter at the bottom of this post.
I also will be launching my Podcast in July, so this month I will also be contacting potential guests and recording and editing four episodes.
Creating Income Opportunities on the website
I need to set up Affiliate Links on this website. An affiliate link is a way to make money when readers choose to buy something that you have recommended on your blog. For every sale made, you get a small commission at no cost to the reader.
Lots of companies like Amazon, Airbnb, Booking.com etc offer this service so I am going to see where I can add affiliates to existing content, and include them when it is relevant to my writing.
I also plan to announce a series of paid talks on Minimalism, as well as get the second draft of my two new books over to my Editor. I’m looking forward to having these finished and sharing them with you.
Increase my website visitors to 5,000 per month.
I plan to do this by creating and sharing engaging content, as well as being more active on social media. I’ll share my tactics with you in a future blog post.
Stag & Raven
I spent forty-two hours working on Stag & Raven, in addition to working four full days in the shop.
Next month I will be tracking my time in the shop that I spend on other tasks, like answering emails and marketing work. This will make it clearer how I organise my workload.
If you have any suggestions on further information you may want, please comment below.
- 30 hours on emails/admin (I will break this down into projects for next month)
- 6 hours of marketing
- 3 hours of planning for the rest of the year
- 2 hours on accounts
- 1 hours on website fixes
- 4 days working in the shop (in addition to the above)
Kate has left now, and June will be my first month taking a wage from the company and having full control of the business.
My stats are currently:
- 1,800 Online Visitors
- 8,432 followers across social media (Facebook, Twitter, Instagram & Pinterest)
- 350 Newsletter Subscribers (thanks to GDPR I ‘lost’ 2000 subscribers, much worse then betternotstop!)
- £2,400 Shop Sales
- £1,100 Online Sales
I outlined in my last article, the business costs are around £3000 monthly costs (with a £4,500 outstanding loan and £900 Investment)
This covers everything from the shop rent, loan repayments, supplier and wholesale costs, marketing, insurance, accounts, website hosting and maintenance, apps and so on.
It also includes a monthly wage of £600 (this went to Kate last month). This month the business costs were slightly lower due to no advertising spend and some outstanding invoices I still need to pay.
If you have any questions about the breakdown of these income or expenses, please comment below and I’ll be happy to answer you.
Stag & Raven June plan
Like betternotstop, I need to increase my income stream and increase my audience.
My plan for the upcoming month is to do the following:
Increase Sales to £4000
I will be doing a summer sale in both the shop and online to remove old stock from the shop and make space for a new collection coming out in July.
I am also improving the website experience for customers by adding new collections, improved product photos and descriptions as well as giving free shipping on all print orders.
I also want to aim to get at least 3,000 people visiting the website as more visitors should mean more sales. I will do this through a marketing campaign using Email Newsletters, Pinterest and Instagram.
Increase Social Media Followers to 9,000
Kate was responsible for the Shop’s social media before so this is completely new to me! As well as spending time on engaging with more people online, I am also going to experiment with Pinterest scheduling, creating new style photos and content to get people interested and excited about the brand!
I didn’t get paid this month, so the last of my savings covered my holiday (I clearly have my priorities straight!) £400 household bills and the £161.39 betternotstop expenses. I had originally earmarked £300 of that to start off the betternotstop account, but unfortunately, the electric bill came first!
I also went out with friends on three occasions for drinks, so next month I’ll start sharing all my costs alongside my income report.
I also finished the month with enough cash to do a weekly shop, which will cover Phil and me for the first week of June. Result!
This month I spent in a total of 103 hours working on both companies. Bearing in mind I was away for two weeks, this is an average of a 50 hour work week – the life of an entrepreneur!
So I’m starting next month with a clean slate and only have £70 left in the bank. My Stag & Raven wage will cover my household bills and I will be transferring £100.00 of my wages into a new betternotstop account to cover those expenses.
I’m ready for the challenge!
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Also published on Medium.