Monthly Scoreboard
I decided after hitting rock bottom and going 20K into debt that I needed to keep better score. Every end of the Month I’ll be editing this post and writing down:
Total Income Less Expenses – how much money I brought in after all business expenses.
Cash Flow – how much money I’ve got positive or negative at the end of the month after lifestyle expenses.
Monthly Recap – A paragraph summarizing the month.
Changes to Implement for Next Month – Exactly that.
June – 2018:
Total Income Less Expenses – $4,135
Cash Flow – $24
Monthly Recap – We (as in my partner and I’s venture) had $3,523.34 of losses in the adwords area. We both made some serious mistakes on who to trust, but over the last 3 months I’ve learned a ton about Adwords. More importantly I learned a lot about business. Hopium is no longer my drug of choice. Losing this much $$ has contributed greatly to my recent headtrash as well.
Changes to Implement for Next Month – It really comes down to just doing it. I’m shifting gears from back end adwords over to prospecting & sales. Prospecting & Sales is hard part. I like being in that role because it feels amazing to close a deal. This month I have a prospecting schedule and I’m going to keep at it.
July – 2018:
Total Income Less Expenses – $4,551
Cash Flow – $263
Monthly Recap – I didn’t record anything for this month. *12/17/18
Changes to Implement for Next Month –
August – 2018:
Total Income Less Expenses – $4694
Cash Flow – $1721 ($2000 Investment from course) [Real Cash Flow = $279 LOSS]
Monthly Recap – I remember this month I started a new program. It was an investment, but in reality that means you can cut out $4000 from my cash flow.
Changes to Implement for Next Month –
September – 2018:
Total Income Less Expenses – $2502
Cash Flow – Loss $698 ($2000 Investment from course) [Real Cash Flow = $2698 LOSS]
Monthly Recap – I started selling PPC in addition to SEO due to suggestions from my new coach. I’m writing this as of 12/17/18 and I’m still making an extra $300 MRR, but I’m not comfortable with it. I ended up costing one of my clients a couple thousand. My coach was totally OK with it. I wasn’t.
Changes to Implement for Next Month –
October – 2018:
Total Income Less Expenses – $4271
Cash Flow – $648 ($1500 Investment from continued coaching) [Real Cash Flow = $952 LOSS]
Monthly Recap –
Changes to Implement for Next Month –
November – 2018:
Total Income Less Expenses – $4764
Cash Flow – $788 ($1500 Investment from continued coaching) [Real Cash Flow = $722 LOSS]
Monthly Recap – Written 12/17/18. I’d like to say that the coaching course helped, but I’m not sure if it really did. There were definitely a few helpful parts of the course, but the biggest thing is there’s a lack of execution on my side. That’s the problem. I’m still taking mediocre action and expecting amazing results. I took more action in November than ever before, then I fell back into the video game trap and 2 weeks got wasted. I’m here 2 weeks into December trying to get my shit straightened out.
Changes to Implement for Next Month – For the last 2 weeks of December I need to put the reps in. I need to take consistent action. Keep focused. I’ve deleted my video games again. I cancelled my coach, it was way too much money. I’ve canceled anything that I don’t need $$ wise. My goal now is operate under a much smaller budget and focus on execution & consistency.
December – 2018:
Total Income Less Expenses – $4792
Cash Flow – $807 [$807 POSITIVE]
Monthly Recap – I’m struggling again with video games. This time it’s not from winning more. It’s from losing. I had a hard talk with my wife who doesn’t understand finances too well. She’s $13,000 in debt and gaining every month. I picked up some website builds to get some instant revenue, but they are just a bandaid for my cash flow problem. Before December hit I had a good system with my business partner, but he went into a completely different direction which left me in a bad spot.
Changes to Implement for Next Month – I’ve got to get back to the basics. I need to handle the deals myself and build out my team. I’ve got a intern lined up for the summer. I’d like to have another one in the fall. I need to focus on developing my systems, processes and keeping the majority of my fulfillment in-house. I can’t keep beating myself up. It’s not that hard. I’ve got to pick up the feather, there’s ton of opportunity out there just waiting for me.
January – 2019:
Total Income Less Expenses – $4811
Cash Flow – $734 [$734 Negative]
Monthly Recap – I had a really fucking good month. My goal was to increase my monthly recurring profit by $500 and I got +$483. I’m happy with that. I got another $1040 worth of revenue from website designs and hosting payments too. I needed to dust off the rolodex to get those, but it went well. The cashflow was low because of a high personal credit card bill and heating oil bill. I’m happy with the month.
Changes to Implement for Next Month – I’m writing this a good ways into February already, but the changes I needed to implement was holding back on personal spending. Keeping my expenses trimmed and focusing on my daily actions. I lost a good size client because I shouldn’t have gone into business there in the first place. I’m sticking to what I know I’m good at because that’ll help me long term.
Feb – 2019:
Total Income Less Expenses – $6665
Cash Flow – $2404 [$2404 Positive]
Monthly Recap – Snowboarding more! Going out with a new group of guys snowboarding. The whiteboard really helped. I increased my goal to $1000 increase of monthly recurring profit and HIT IT, $1074 total into recurring profit. I had some other $$$ as you can see by the cash flow. Having that in front of my face everyday was key. The other key was doing the things I love to do. Making time for snowboarding.
Changes to Implement for Next Month – Keep consistent! Snowboard more. Save more. Keep focused and hit bigger goals. If I can get another +$1000, or should I say… WHEN I get another $1000+ that’ll put my business up HUGE. That’s all it takes. I can do this. I am doing this.
March – 2019:
Total Income Less Expenses – $5920
Cash Flow – $654 [$654 Positive]
Monthly Recap – My biz partner was hammering me a little on the snowboarding, because he’s a grinder. He’s always been just putting in the hours. I told him again and again that this is what I need. I’ve been grinding for years, now I’m going to take the time every week and get refueled. I had one of the best snowboard weekends ever, 18 inches of powder, rode for 3 days in a row. Met a bunch of crazy guys. Discovered a new mountain and crushed it in business.
My cashflow looks like it sucks, but in reality it was a really good month. I had an extra $1000 in home expenses that hurt my numbers. The whiteboard helps a ton.
I’ve been watching this video a lot:
Self Discipline is Self Love. All great things come from self dicispline.
Changes to Implement for Next Month – Keeping consistent. I want to take better care of my body, lose weight and get my energy up. I’m getting back to planning my daily calendar the night before and using my daily focus to make sure I’m spending adequate time “on the business”. As I write this, 4/8/19 I’m on track to have the best month yet.
March – 2020:
Total Income Less Expenses – $17,422
Cash Flow – $9000ish [$ 9000+ Positive]
Monthly Recap – Fucking A man – I’m so glad that I started this blog. To be able to track everything. I certainly don’t use it as much as I said I would – but it’s nice to see where I came from. It’s actually May as I’m writing this. I’m doing about 15K per month on average and paying off my debt heavily.
Changes to Implement for Next Month –