1 half year = 182.621099 days
end of the financial year in Australia and that always make me think about my own businesses financial goals. Every year, around this time, I go through and look at the following things within my business.
- I have a look at my 1/2 year income + expenses and compare them to the previous year.
- I also compare the 1/2 year numbers to my goals. I then see if I fell short or met/exceeded these goals.
So far in the first six months of 2015, I've brought in 60% more passive income than I thought I would, not bad! I also spent more than I have in previous years because I purchased a new MAC and badass office chair to plant my arse in. I've also been investing in more software and online trainings too. My monthly business expenses for this business only amount to around an average of $600 per month (including internet, phone, software, freelancers, books, office supplies). This is quite low and I make sure that my expenses never go over around 15% of my income. I'm able to do this because I AM MY BUSINESS, so just know that not every business can run this lean.
The end of June is also a great time to check on your accounting systems. In my case, I log into my Outright.com site and check on my uncategorized expenses. This is where I run through and categorize things the system didn't do automatically. This time I only had 24 uncategorized expenses with most being office supplies.
Next, I'll do a quick check in on my marketing strategy, which comes from my favorite Brand Strategist Aliza Stein. Earlier in the year we set out to make sure my list was growing at the pace I wanted and we made sure I had the right brand images/story to make that happen. Along with this I purchased a Champagne launch from Tania Dakka so I would have all my ducky social media posts in a row. I used the Champagne launch on my newest program, Cosmic Hot A-Lister Magic.
My list grew by 450% so I would say that is awesome! I also switched over to AWeber from Mailchimp because I really wanted to have a cleaner autoresponder setup. This helped me feel more confident in my brand message and provide more value to my readers.
So what about you, how was the first half of the year for your business?