Thinking of sharing blog or business income reports? Read this
As you’ll likely know if you’re currently considering posting blog or business income reports, it can be prettyyy terrifying.
It’s still pretty unusual to talk about money in such direct terms, like . . . you know what your business/blog makes. But I decided it would be of legitimate service to y’all, so I did it.
I’ve started every income report so far with this:
“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!”
And I really do mean it. My intention is to show you what is actually possible, and that while running an online business is far from a walk in the park, it’s so worth it.
Plus, now that I’m talking a lot on the blog and my new podcast about how to build an online business, I figured it was time to show that I do indeed run a legit online business, and that I’m not just sitting here spouting nonsense.
I intentionally put NO focus on social media in my business, and put all my focus into building an email list instead. (And that has been a VERY good decision!)
But I do realize there’s one small downside of that. My business looks a lot smaller and less legit from the outside because I have a very much so not-impressive social media following. And let’s be real, we totally judge companies on how legit or big we perceive them to be, based on their social following.
So again, income reports were a way to demonstrate just how killing-it this business really is, and that when I give online business advice, it’s advice that comes tested from a successful online business.
(Which btw, if you’re asking my advice, I’d absolutely recommend that you focus on an email list over social media too.)
I’d take 100k in my bank account vs. 100k under my Instagram following any day, wouldn’t you?
Anyways, those are the reasons I started the reports.
And now they’re live for the world to see . . . you, the rest of the people who follow my business, my friends, family, past coworkers and acquaintances, etc., how do I feel about publishing them?
The reports did exactly what I intended, so I’d say it was a solid decision.
Since publishing the reports, I’ve gotten a LOT of comments like these:
It looks like they really did do the trick. Inspired others and showed them just what IS possible with an online business.
So if you’re also considering publishing income reports, I’d just like to say, my experience has been a really good one.
They’ve helped others see exactly what the inner workings of an online business is like and what revenue streams are working. They’ve inspired others to take action and get working on building their own online business/blog, they’ve encouraged engagement, and they’ve become very popular posts on the blog.
So if you’d also take one for the team and show what’s up behind-the-scenes with your business and how you’ve turned your passion into a revenue-generating machine, I have a feeling your audience will really appreciate it.
If you think back to yourself just starting, I’m sure you can remember thinking “I swear I can make this work! I just know this can be a real job!” but maybe struggling to explain to family and friends that you’re intending to quit the stable real-world and go out on your own.
By publishing income reports, I believe you’re doing a service to would-be entrepreneurs who just need a little encouragement to see that there is light at the end of the tunnel and that the long, hard, not-paid start is indeed worth it.
a tip if you’re publishing your own reports:
I was told by an accountant not to post the exact expenses.
This is unfortunate because just seeing income and not expenses can skew perception a lot. There are many businesses making bank, and spending it just as quickly.
Thankfully, I keep the reigns pretty tight on expenses and for the two income reports on the blog right now, I can share that my expenses were less than 10% of what I made, which is reallll lean compared to most businesses.
Granted, I still think it’s interesting to know where businesses are spending their money, so I do break down the categories in a pie chart to show what categories my expenses fall into. So, might be something for you to think about too.
Also, to show that I do indeed use the programs and services I promote as an affiliate, I intend to make a list of the softwares/services I spent on (and link them as affiliate links) in future reports. Nothing makes people trust you legit love a product/service like you laying down your own dollars for it every month.