BTS of my Lowest Income Month in 1.5 Years [episode 7]
Listen to BTS of my Lowest Income Month in 1.5 Years on: Apple Podcasts | Spotify | Youtube | Your player of choice
Ok..this episode feels realllly vulnerable, but that’s also one of the big reasons why I started my podcast. So...we’re going there!
Even though this isn’t easy to share, I want to give you a behind the scenes look into my August income report. August 2024 was my lowest income month since March 2023. Despite that, I am really, REALLY proud of everything I accomplished in August.
Yes, August 2024 was a ‘low’ month for me, but I strategically planned it that way - it wasn’t an accident. I also want to note that my business has shifted a LOT over the last two years. Even though it was a lower income month for me, I still earned more that month than I did my entire first year of grad school!
With that being said, we are not getting caught in the comparison trap here. I don’t want you to compare where you are in your business with what I’m sharing in this episode. I really just want to provide you with allll the money specifics, and as always, be as transparent as possible.
In today’s episode, I’m giving you a behind the scenes of my lowest income month in 1.5 years. I’m breaking down my actual August 2024 revenue, which was $42k. These earnings came from multiple sources, including therapy clients, business coaching, PPA, Reels Membership, and more.
While my income sounds pretty great, my expenses were pretty hefty. My biggest expense was my team. I have an AMAZING team of people who help me with everything from operations for the business to the podcast, website, and copywriting support.
Business coaching, softwares, license renewals, and continuing education are other expenses that I invest in. Between all of this, my profit margin for August 2024 came out to 31%. For the year, my goal is for it to be 65-70% (it’s a balance that feels good for me). August was much lower, but we’re still right on track for the year!
Yes, August was my lowest income month for 2024, but there are a few reasons WHY that happened!
I worked my butt off in August, and one of the biggest projects was bringing my podcast to life. I’ve had a goal to start a podcast for several years now, and it finally happened in August 2024!
Podcasting is a long-term game - it’s not something that’s going to bring a quick ROI with tons of new sales and brand partnerships right away.
But...I know the work I’m putting in now as a new podcaster WILL pay off as I stay consistent, and trust the process.
Every single business has ebbs and flows - that’s just the trajectory of entrepreneurship. If you think that every month will always be better than the last, you’re setting yourself up for burnout. You NEED to allow yourself to take breaks and not always be in ‘launch’ mode.
I don’t want my business to be my entire personality. I want to be confident in my decisions and freaking EXCITED about my projects, content, and what I’m putting out. I don’t want to feel like I’m constantly chasing my next client or sale, and working 24/7.
My biggest hope for you is that YOU are willing to play the long game. You can build a sustainable business that lights you up, but you need to get crystal clear on what your dream private practice looks like.
When you take action and choose to show up for yourself (no matter what), NOTHING will be impossible for you!!
In this episode, BTS of my Lowest Income Month in 1.5 Years, I cover:
Why you shouldn’t get caught up in the comparison game
Breaking down my $42k revenue in August 2024
WHY August 2024 was a lower income month for me
My strategic decision to make August 2024 my lowest income month
The mindset hurdles I experienced
3 important questions to ask yourself regarding your own business
Resources & Links:
⭐️Apply to work with me for 1-1 business coaching
⭐️Follow my coach Lacey Sites MS, MBA on Instagram @alituplife
⭐️Try Mentaya for free for one-month with the code KELLY
⭐️This episode is sponsored by Jane - use code: KELLY2MONTH for a 2 month grace period
⭐️ Private Practice Academy Bundle (PPA)
Some links referenced above are affiliate links which means we may receive a small commission at no extra cost to you. Thank you for your support!
Related Episode:
More about the Business of Therapy podcast:
Are you a passionate therapist that’s burnt out and ready to transition to private pay? You’re asking yourself questions like “how do I build a business?”, “how can I effectively use Instagram to market myself” and “how can I scale a private practice?”
Welcome to the Business of Therapy podcast where we’ll answer those questions and more! Here you’ll find honest conversations about the good and the bad of being a therapist, tactical advice and best practices for marketing yourself on Instagram, and solidarity and community to find your own version of success as a therapist.
Join your host, Kelly McKenna, and her guests as they dive deeper into topics such as navigating burn out, mastering your mindset and boundaries, and tactics and strategies for marketing on Instagram, and more!
Kelly is a licensed therapist and business coach who grew her private practice on Instagram and has helped thousands of other therapists market themselves on social media, and effectively start and scale their private practice.
These episodes will leave you feeling empowered and equipped to take action towards your dream of a successful private practice.
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