Oh, yeah! You read that right! I’m gloating and happy dancing all around the interwebz!
Here now I have for you, my second (and AWESOME) freelance income report for the month of December 2015.
Ya ready? Let’s do this!
I maintain a rolling total on my profit-and-loss statement each month. I track only income that is received and not billed because I can’t spend what I do not have. I do the same thing for expenses.
- October-November: $100 November Income – $64 October’s start-up expenses – November’s expenses = $6 profit ($6 rolling profit)
You read that right! I broke a profit my first month!! Size can’t take it away from me!
Income: $1,075, an ENORMOUS (975%) increase month-over-month!
Expenses: $127, roughly 12% of net income.
Net Income: $948 (after expenses, but before taxes).
Affiliate Sales: 2%
Other (Bonus): 9%
Honestly, I find my expenses to be high. I invested back into my business, so that’s good. But I’m not sure about how much I should be reinvesting.
I paid for the second month of my job board membership through Paid to Blog Jobs. It has more than paid for itself since I ended up scoring the world’s greatest gig at Guyvorce through it. So, I’m going to keep it and stick with it for a while.
In addition to all the great things that have happened, I also scored my first guest contribution to The Freelance Dance! My friend, Zachary Switzer, wrote this neat poem for my readers. I truly loved it and received the most likes out of any post on this site! Hooray!
Then, there’s the tedious issue of PayPal fees. They made up 23% of my overall expenses. It may be time to look into alternatives.
Thoughts on the Month
Last month, I said I wanted to make at least $1,000 for this month. Boy did I stomp on that one, didn’t I?
Additionally, I opened a savings account to cover goals and another to save for taxes.
I also said I wanted to get into a major publication. CHECK! Guess who got into The Write Life?
Lastly, I wanted to increase my pitching to compete in Gina Horkey’s December pitching contest. Well, guess what? I won!
To say that I’m blessed is a gross understatement!
Goals for 2016
I wrote a separate post all about my goals for 2016. You can read it at length here.
In addition to these, I’d like to hit the $10K mark by October. Isn’t that nuts? But, it’s true. With a little sweat equity, I’ll get there!
What am I afraid of? Failure. I’m terrified that I won’t make it. That I’ll come this far only to end up lost with nothing next month. Challenges will be there, I know that, but I need to be able to put on my big girl knickers and do what’s best for my business. I need to make the tough decisions in 2016.
One of the decisions I’m mewling is turning down clients. Why would I do such a thing? Well, for starters, they don’t pay much. We’re talking less than a penny per word for posts no longer than 500 words. I may take one to try it out, but long term, there’s no way I’ll be able to sustain a living with that.
I’ve fallen. Many, many times I’ve fallen on my face before. Each time, I’ve gotten back up. This, all of this, is one great big version of that. I keep getting up because I can’t fail. I can’t let it end that way.
You’re Not Alone
If you’re on this journey too, know that you’re not alone. I’m doing it, too. I’m right beside you just as scared and overwhelmed as you are. But we do what we have to do so we can do what we want to do. That’s my new motto. We have to get back up. We have to move past rejection letters. Especially, if we want to succeed.
How’d your month shape up? What were some of your challenges as the clock struck midnight on 2016?