SEPTEMBER REVENUE: $88,239.00
SEPTEMBER EXPENSES: $14,102.51
SEPTEMBER NET INCOME: $74,136.49
September was a good month! Last month was our best ever so far in terms of both total revenue generated and net income (profit), and we learned some great lessons along the way.
Why Are We Publishing an Income Report?
For several reasons. Mainly, our goal is to hold ourselves accountable to be transparent about our success and failures. If you’re reading this, chances are you’re running a business or you’d like to in the near future. We want to give you an inside look at our business… the good and the bad.
Honestly, we weren’t sure at first whether we should share this or not. We went back and forth on it for a while, and finally decided that giving a glimpse “behind the curtain” will help our readers, listeners, and followers learn more about what goes into running a business, and give an example of the income that can be achieved and the expenses to be expected.
What This Income Report Covers
This report covers the income and expenses for the month of September 2015 for our online businesses (House Flipping HQ and 8 Minute Millionaire). This doesn’t include our actual house flipping business, which is a whole separate animal. :) We’re not including that here because (1) the financials for that are much more complex, and (2) our goal here at 8 Minute Millionaire is to share what we’re doing in our online businesses specifically. If you want to get into more of the nitty-gritty on the real estate side, head over to HouseFlippingHQ.com. :)
House Flipping Coaching Program New Member Signups: $83,018.00
House Flipping Coaching Program Residual Revenue: $5,2214.00
Other Orders & Miscellaneous Income: $7.00
TOTAL REVENUE: $88,239.00
Employees / Contractors: $5,416.66
Software / Online Services: $3,245.80
Marketing / Ad Spend: $3,207.18
Affiliate Commissions: $1,838.87
Refunds and Voided Charges: $394.00
TOTAL EXPENSES: $14,102.51
Total Revenue: $88,239.00
Total Expenses: $14,102.51
NET INCOME: $74,136.49
What We Learned This Month
The big takeaway from this month is don’t be afraid to sell. If you’re an entrepreneur and you’re running a business, you no doubt believe your product is awesome (if it isn’t, you need to stop what you’re doing right now and make it awesome!). So, sell it!