With most career paths or businesses, you can search online to find out what could be expected in terms of income. But running an online business is pretty new and unknown territory.
I hope to show you with these income reports just what is possible when you build an online business! It’s my hope that if you dream of running an online business too, these reports encourage you to work towards making that dream into your reality!
I celebrated my 28th birthday! My birthday being February 2nd means it’s basically always the coldest time of the year. (One birthday in Canada there was a wild snowstorm and we couldn’t leave the house. Womp, womp. Good thing I’m in Germany now where it’s slightly warmer.) Anyways, because of my typical birthday freezing weather, my boyfriend and our couple besties (is that a thing? it is now) and I headed for the mountains.
The festivities started with being gifted a shot ski (amazing!), went for a walk through a winter wonderland and then chilled in our fav local hotel in the mountains, which honestly the average age is 60, but we love it regardless. We hit the pool, spa, dinner and then went dancing in the little club inside the hotel. I couldn’t have asked for a better birthday!
And then just a couple weeks later, I got engaged!
My boyfriend and I were out for a walk and along the path there were a benches here and there. On one bench there was a picnic basket, and the second I saw it, I knew what was happening.
So yes, lots of exciting personal news for February.
I also continued through German language classes at night, and just like in January I was soooo farrr behind on all the work I set for myself. I’m pretty sure I missed every internal deadline I set myself. Thankfully “my boss” is pretty lenient with deadlines when life gets in the way.
We did however launch my course Square Secrets on time! (Pressure thankfully was on because it was something we had announced.)
Launch of Square Secrets course
(If you’re unfamiliar, my course Square Secrets teaches students how to build fab Squarespace sites that work as little marketing machines, turning site visitors into clients of service-based businesses 24/7).
We launched Square Secrets for the 3rd time! And with this launch I’m happy to say I’ve gotten significantly closer to my goal of removing myself as much from launch tasks as possible, training Mary, my assistant, to do almost all of them and just creating the content that only I can create (webinars, Facebook lives, etc.).
I’m re-reading The 4 Hour Work Week (that’s an affiliate link!) and it’s safe to say I’ve been pretty slow at removing myself as a bottleneck in my business and taking myself out of day to day tasks, but oh well, work in progress.
This launch was a success for two major reasons.
1: We were prepared. No unexpected tasks or issues hit us out of left field this time.
2: Emotionally, both Mary and I were pretty calm and chill compared to normal. Launching really is an emotional rollercoaster and we pretty successfully removed ourselves from the emotional ride this time.
When it came to student enrollment numbers and therefore revenue, we missed our prediction. We’ve been seeing a pretty consistent conversion rate from email list to course purchase, but for some reason we weren’t quite getting the enrollment numbers we predicted this time.
At the time I thought of 2 possible reasons.
1: Our email list used to JUST be people interested in building a Squarespace site. Now it’s people who are interested in building a Squarespace site, people interested in being a Squarespace designer and people who want to start a more general online business. When your email list grows to have varying interests, it’s unrealistic to expect the same conversion rate as when your list is hyper-focused on one topic.
2: We included the conversion rate of the launch of my other course (Square Secrets Business) into the conversion rate calculation to try to predict what we’d do this time. The Square Secrets Business course gets a slightly higher conversion rate than Square Secrets, I predict because SSB is a course which is a pretty direct route to setting up a web design business and then making $$$ online. And I think people are more willing to enroll in things where they can quickly & clearly see a financial gain at the end.
And now with hindsight (20:20 so true) I learned that we’ve been accumulating a whole lot of bot emails onto our list for the past 6 months or so which we didn’t know about at the time, and that obviously inflated our subscriber numbers which meant we were calculating with an incorrect subscriber count.
So with those 3 things combined, I can pretty clearly see why we were off with our original estimate.
Regardless, the good news is even without hitting this launch prediction, we’re going to surpass our Q1 revenue goal anyways. And my quarter goals are the important ones.
Started Squarespace affiliate program
Squarespace is testing out an affiliate program at the moment and onboarded me to get started with it. Woot, woot! Thanks Squarespace.
I’ve now written in the neighborhood of 100 Squarespace posts, so my assistant got the fabulous task of putting affiliate links into ALL of our posts which mention Squarespace and also our courses. (Sorry for that one Mary.) Right away when we put in the links, we started seeing just HOW MANY Squarespace subscriptions these blog posts drive.
I had always wondered just how many people I was putting onto Squarespace through this blog, and well, now I know. While of course I was writing these posts before Squarespace ever paid me a cent, it’s a definite added bonus to be getting paid for the leads I’m driving their business.
The 4 Hour Work Week by Tim Ferris
(I’m re-reading the 4 hour Work Week. It was one of the first business books I ever read, wayyyy before I had a business. At the time a lot of Tim’s suggestions seemed like some far-off, unrealistic methods. Now, it’s the life I live. Though unfortunately I’m not quiteee yet at the point of working 4 hours a week, haha. Reading it a second time with a business means there’s so many more things I can actually implement and I’ve been happily doing so. If you haven’t read this yet, go do it!)
Chillpreneur by Denise Duffield Thomas
Debrett’s New Guide to Etiquette and Modern Manners by John Morgan
(Those are affiliate links!)
Square Secrets course: $38,860.50
Square Secrets Business course: $1,085.00
SS + SSB course Bundle: $3,329.30
Total February Income: $46,318.27
^^^Those are affiliate links!
There you go! That pretty much sums up the month of February!
If you want to see the behind-the-scenes of the business in real-time, def come hang out on Insta, as that’s where I show you what I’m up to and working on every day.