March 2020 – Freelance and Blogging Income Report

Welcome to my freelance and blogging income report for March 2020. What a month! You’re growing and growing and then life throws challenges your way, right? As entrepreneurs, we are all in the same scary and overwhelming boat. It’s because of that I went ahead and posted this March report, for full transparency and maybe throw in some tips of how you can move forward yourself in these new times we’re living in. If you’ve lost income this month, you aren’t alone.

Previous Income Reports:

• February 2020 – $16,430.76 Revenue
• January 2020 – $13,695.50 Revenue
• December 2019 – $10,363.90 Revenue
• November 2019 – $9,619.30 Revenue
• October 2019 – $9,584.39 Revenue
• September 2019 – $6,300.75 Revenue
• August 2019 – $5,397.25 Revenue

I thought a lot about whether or not I wanted to publish a monthly freelance and blogging income report but after thinking about the pros and cons, I know how helpful they were to me prior to making the leap into the world of freelancing and blogging. It is my hope that these reports will continue to show my growth as the months go on and showcase what is possible when working from home.

NOTE: While I am in Canada, most services and clients are billed/paid in USD currency so that’s what currency I am continuing to use for these reports.

Updates this Month:

My goals from last month’s report for March and whether I hit them or not are listed here:

• Make a net profit of $12,000 — Definitely missed due to the world’s situation right now
• Grow my email list to 500 subscribers — Close, but missed.
• Send out 2 email newsletters — Success!
• Make $500 in affiliate marketing revenue for the month — Missed

We are in some crazy times right now, fellow entrepreneurs! April’s goals will definitely be on things that I can control because everything else that is outside of my control, well, we can’t know what’s going to happen next. Let’s focus on what we can do to grow our businesses in these trying times (check out my ‘in control’ goals for April at the bottom of this report!)

This Month’s Revenue Breakdown:

• Monthly Clients & One Time Services: $12,005.51
• Courses & Programs: $349
• Affiliate Marketing: $277.30

Total March 2020 Revenue: $12,631.81 USD 

Revenue definitely dropped this month due to clients needing to pause services due to the pandemic. April’s revenue will already be about 1/2 my normal months, which is disheartening but I’m choosing to focus on the positive, and hoping that things return to normal for my amazing clients soon!

This Month’s Expenses Breakdown:

• Subcontractors / Writers / Virtual Team: $2,220
• Tailwind: $89.96
• Later: $29
• Calendly: $10
• Zoom: $14.99
• Teachable: $39
• Dubsado: $35
• Canva Pro: $12.95
• Pinterest VA Membership: $99
• SavvyVault Course: $97
• Convert Kit – $29
• Adobe Photoshop Subscription: $9.99
• Placeit – $14.95
• SEMRush – $99
• Social Insider – $99
• The Scalability Lounge Membership – $67
• Kajabi – $199
• ClickUp – $57

Total Monthly Expenses: $3,221.84

I already know April is going to be hard, so I’m trying to cut expenses as much as possible moving forward. My income report for April should be VERY interesting so stay tuned next month for that one!

Net Profit:

Total Revenue ($12,631.81) – Total Expenses ($3,221.84) = $9,409.97 USD

Keep in mind, my net profit is before my 30% held back for taxes, equipment costs, etc.

For larger yearly subscription expenses, rather than split the payment across the next 12 months, for these reports, I am going to include revenue and expenses when they are paid to make it easier on myself to create these reports accurately. Months that yearly payments come out will definitely have a higher expense number but that’s how it rolls when it comes to online businesses.

My Goals for April 2020:

• Send out 2 email newsletters
• Publish 2 new blog posts per week
• Re-do my client onboarding and offboarding processes
• Completely organize my email inbox
• Create some SOPs for my business
• Re-do my website and service packages

I’ll be posting an income report for April to see if I met my goals for the month!

I hope this freelance and blogging income report was interesting to read!