We’ve never been more laser focused! April was the month of launching and learning and boy, did we do just that. Inside this income report you will see where we got a 3047% ROI, how we were able to have our biggest launch to date in 7 days, and some insight into transitioning a baby to the nanny life.
Why do we do income reports?
In an effort to be as transparent as possible in our own business, we have chosen to make 2017 the year in which we showcase the good, the bad, and the ugly. That means we talk about money on months when we bring home the bacon and on months when we’d rather not discuss finances. We hope you learn a LOT from these reports. We want you to be able to replicate and tweak our strategies to use in your own business. Get inspired, learn from our mistakes, and grow your own online business.
Please note: Links marked below with an asterisk (*) are affiliate links. By clicking and purchasing we may earn a commission on this sale. This comes at no cost to you and only is for products and companies we truly believe in!
Affiliate Income: $753
Course Sales: $17,289
TOTAL INCOME: $18,042
Stripe/Paypal Fees: $592
Video Equipment: $131
SamCart: $199 (Immediately returned in May)
Independent Contractors: $2,971
Facebook Ads: $758
Office Supplies: $31
Meals & Entertainment: $96
TOTAL EXPENSES: $5,009
NET PROFIT: $13,033
Payroll to Abagail & Emylee: $5,268
IRA Contributions: $3050
Facebook on Fleek
In preparation for launching Rock Your Biz we invested in a course on Facebook ads. We quickly learned as much as we could so that we ultimately could have a more effective Facebook game. In the past it hadn’t been something we paid much attention to. Our page was neglected, our ads were few and far between. And what we did know was minimal.
So we flipped the switch and became the student. And for a couple of weeks really hunkered down behind the scenes to soak up as much knowledge as possible. With these new strategies we saw a 3,047% ROI from Facebook ads during our Rock Your Biz launch.That means we only invested 3% of the revenue on ads and saw a $37,259 launch in 7 days. Keep in mind many of the peeps who converted ended up on payment plans, hence the full amount not showing in this month.
Launched Rock Your Biz
Rock Your Biz included not one, not two, not three, but four of our top selling programs for creative small business owners! Throughout our 7-day launch we welcomed in 73 boss babes into our program bringing our launch total to $37,259. Of those who converted we had 18% choose a 1-time payment and 82% choose the payment plan. Because of the awesome plan we created we will have recurring revenue for the next 5 months of $5,133.
A couple more interesting stats for you! Throughout our launch we had:
33% new students who were also new subscribers (converting for both in the last 30 days)
38% were new to the academy, but were existing subscribers (could have subscribed anytime in the last two years)
29% had taken at least one of our previous programs and were existing subscribers!
In the future we will:
Offer more payment options: although we don’t want to complicate it, we do think offering a 3rd payment plan option will give our students the flexibility to pay over a period of time, but perhaps a bit faster than the 6 month plan we offered. Next launch we plan on having both a 3-month and a 6-month plan.
Use more video: It was insanity the amount of engagement we got from both our video ads and Facebook Lives. We will continue to use that strategy more and more.
Have great customer service: As our team expands the easier it is for us to feasibly service all the needs of our customers. In addition to traditional email support we added features like ManyChat (Facebook Bot) reminders, and ZenDesk chat (ability to chat with our team directly on the sales page).
Focus, Focus, Focus
As crazy and simple as it sounds we put EVERYTHING else on hold to launch and saw massive results because of it.
So often I think people get caught up in the day to day that they don’t know how to drop everything to really service their potential customers. Trust us - the more you give, the more you get!
Baby P Update
Some of you may be aware Emylee’s hubby had 4 MONTHS of paternity leave, which in the U.S. is unheard of! In April, he finally went back to work. It was a bittersweet moment for TCC. Penelope, Emylee’s adorable baby, went from being home full time to being at a sitter or nanny for 4 days a week.
While this transition was a hard one, I (Abagail) have to say at least from my side of the table (as the non-mom) it’s done massive things for Emylee’s productivity. She’s laser focused from 9am-4pm 4 days a week and Friday afternoon through Tuesday morning she’s in baby mode.
This is bound to lead to massive results for both the core team and the larger team here at TCC. We love being transparent with you all and hope that you learn from these behind the Instagram blog posts.