Thanks for an additional superb yr with Jerrybanfield.com. Right here’s my revenue report for 2018. I’m grateful now I can get again to common month-to-month revenue reviews as nicely after a yr of revenue being very irregular with all of the Steem cash.
2018 Jerry Banfield Revenue Report $118,854 Revenue on $236,704 Income and $117,850 Bills
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Right here’s my complete revenue for the enterprise: $236,704.
I’m very grateful.
That may be a incredible quantity of revenue, virtually 1 / 4 of one million dollars in 2018.
Thanks for making this such an incredible yr. After seven years in enterprise, the primary three years, I misplaced fifty thousand plus dollars, which suggests I paid fifty thousand plus dollars to do my enterprise.
I borrowed a bunch of cash and now I’m grateful I’ve paid all that I borrowed again.
Thanks for a tremendous yr.
I’ll present you ways every little thing breaks down together with the bills and the revenue.
Now, notice I stated revenue. That’s the income. That’s the uncooked sum of money in.
This quantity is type of irrelevant when it comes to what I get out of it. The quantity that’s related for me is the web revenue or the revenue, and that may be a $118,854 at the very least on this PDF.
I’m unsure whether or not they’re in sync, however I get able to do my taxes, so we’ll determine that out. That’s the distinction.
So, the full in was 2 hundred and thirty-six thousand. The whole out, 100 and eighteen after 100 and seventeen thousand dollars of bills.
I’ll break down and present you the most important revenue and largest bills for the yr and I do that to remain accountable to you additionally, to point out you what my enterprise seems like, to assist in giving you braveness to speak about and take a look at cash brazenly.
I really like cash. I’m a badass in being profitable. I’m very grateful for the prospect to earn a living and to provide cash additionally.
The most important single expense was promoting.
Seventy-five thousand dollars in promoting.
Now, plenty of the revenue I made was associated to promoting. Plenty of the cash I obtained, one thing like thirty or forty thousand dollars of Steem that I cashed out went on to promoting Steem by way of my Fb and YouTube channels.
Subsequently, that’s the single largest a part of the promoting expense.
Contract labor, meaning I paid different individuals to assist me. There have been two huge bills on contract labor.
One, Michel Gerard.
He’s my right-hand man on-line. He edits the transcripts into weblog posts for me on my weblog. He responds to emails. He places out the e-mail publication each week. Michel helps out a ton on-line. Michel earned ten thousand plus dollars in direct funds from me final yr and we labored out lots on Steem as properly. I think about Michel might be incomes much more in 2019.
Additionally, contract labor, I paid to have a shed inbuilt my new home within the yard.
I’m grateful I used to be in a position to make use of the revenue from this yr to place a $20,000 down cost on a home, purchase a home for the primary time in a few years once more, and I spent about ten thousand dollars paying a contractor to construct a shed within the yard, which it had been six months later and the contractor had nonetheless not completed the shed.
I needed to pay one other contractor to complete it. Between the contractor and the supplies, about seven or eight hundred extra dollars to complete the shed.
We now have a ravishing house workplace studio in right here.
That was nearly all of the contract labor.
Gear lease and lease was the third-largest expense class, $7,000.
Gear lease and lease, the most important single expense in there. I’ve been renting my Mac Professional for a number of hundred dollars a month. It’s what I exploit to movie all my movies and stay stream on and going ahead I intend to not lease any extra gear. I’ve paid 300 plus dollars a month for a nine-thousand-dollar pc and I nonetheless don’t personal it.
On the time it was simpler to do for accounting, however now I see the most effective factor to do is simply purchase since you possibly can expense as much as twenty-five hundred dollars with out having to do an asset.
Simply purchase particular person items of a pc, construct your pc. That means you possibly can expense the entire thing. You don’t should idiot with it as an asset and I in all probability might have saved 5 or ten thousand dollars doing it that approach.
Nevertheless, I’ve been renting a Mac Professional and that might be executed in just some months.
Then additionally, any server leases or something like that, that features renting. That features apps and software program.
For instance, QuickBooks Self-Employed to do my enterprise accounting. It consists of any app and software program bills like that as nicely.
Authorized and professional providers, I truthfully don’t even keep in mind what I put in there, however that features something like consulting.
So, I actually don’t even keep in mind that. I’ll go determine that out once I undergo the books in additional element.
I’m having a tough time remembering the touring final yr. I took a number of journeys to go do weblog posts and movies and issues like that.
Oh, yeah. I did an enormous journey to Michigan. I did an enormous video to satisfy my sister. It was an enormous video and weblog publish and every little thing.
So, that was my massive journey final yr on the journey bills and that’s capable of be a enterprise expense as a result of my enterprise is producing movies and once I go do one thing that’s for video manufacturing to movie a video and to go make a weblog publish out of it that then makes cash, that’s an expense associated to producing the revenue.
$four,211 utilities, that being my Web, which is a number of hundred dollars a month.
I’ve 300 megabits up and obtain on my Web, which permits me to add information and reside stream on the similar time. It’s very nice and it helps me simply do every part tremendous quick.
It’s a type of issues I might low cost out on if I needed to. I might save at the very least 100 dollars a month to get a inexpensive plan, however how a lot time do I save?
With all of the information I add and trade amongst 4 totally different computer systems, it helps a ton to have quick web. I’m even contemplating upgrading it for a number of hundred extra dollars a month.
That’s the essential breakdown of the expense.
What I’ll do now’s present you in a bit bit extra element right here.
I understand the quantity is like 400 off.
I’ll determine that out in my accounting as nicely.
This offers you an concept of the way it was month by month and I’ll present you the person revenue parts and bills associated to these.
You’ll discover some months, I had big income typically from Steem. Word that this doesn’t rely my capital positive aspects. I additionally bought Steem that I purchased at capital positive aspects and I made about $50,000 or so doing that additionally.
This report doesn’t rely what I produced from capital positive factors. I present that on my Steem revenue report, which I did on one other video.
So, that is month by month and with the cryptocurrency and cashing out Steem, this was an irregular yr. As a result of some months like this month, I spent twelve thousand greater than I received in.
Properly, that’s as a result of I used to be spending a bunch of cash promoting Steem in Might and it isn’t as a result of swiftly I had a horrible month. I spent a bunch of cash promoting Steem in Might earlier than cryptos have been banned on Google AdWords.
You possibly can see on this graph the month-by-month revenue. Twenty-five thousand, when the Steem worth was up and the Steem greenback worth was up I used to be promoting my butt off.
After I put in a lot, I’m promoting, promoting, promoting.
After which I began promoting a whole lot of Steem in July after I made public that I used to be pulling out of Steem, which I began doing on the best way into June. I began promoting my Steem so much in July.
Loads of the revenue in July, August, September and October is promoting Steem, after which with the Steem worth tanking, with me telling everyone I used to be promoting it and the entire crypto market taking place, you’ll be able to see how the yr ended up there.
So this can be a month by month revenue report. I made an enormous revenue in January, a variety of it from promoting Steem and the identical factor in July.
Now, this has been an enormous change for me going ahead as a result of Steem is at the least in the intervening time not a related a part of my revenue. I nonetheless do have like eight,000 Steem due to the best way you energy it up.
I maintain powering it down. I’ve bought all of the Steem I purchased. I nonetheless hold powering it down. I obtained a voting bot. It nonetheless retains creating wealth and I’ve been persevering with to promote that, however with the worth low, I get a few hundred dollars every week now, which continues to be actually good given I’ve bought the whole lot I purchased and the whole lot I made previous to July 2018, that’s nonetheless fairly good.
I’m not meaning to do anything with Steem. I’m simply getting the remainder of the cash out because it comes out.
With that change, there was an enormous change in my enterprise course. I shifted to doing music in July, after which gaming in August and the remainder of the yr.
I’m additionally beginning taking talking engagements.
I’m imagining that the numbers for 2019 are going to look even higher than this as a result of there’s a number of alternatives that aren’t very clear to me in the meanwhile, that in a yr could have materialized absolutely.
Two years in the past having a bunch of cash comprised of a cryptocurrency appeared exhausting to think about. As quickly as I began imagining it, it started to occur.
Let’s present you the earnings in additional particulars. What we’ll do is we’ll search transactions and it’ll present you the precise cash.
So, what you possibly can see is I’ve obtained 100 and fifty-one thousand dollars in from Steem and that was an enormous a part of my revenue. Nevertheless, a minimum of fifty thousand dollars of the bills have been associated to Steem additionally if not sixty or seventy-five thousand.
The problem is, the Steem bills have been throughout the board in several areas, however Steem accounted for almost all of the revenue coming in final yr.
So, out of the 2 hundred and thirty-four thousand or regardless of the complete quantity, 100 and fifty-one thousand of it was Steem.
Nevertheless, a bunch of that Steem I introduced in was introduced in with the price range proposal undertaking, which was then spent again out in promoting.
So, so as to get this cash, I agreed to spend one thing like forty or fifty or one thing thousand dollars again out to be able to get that a lot to return in.
This, you’ll be able to see the totally different months simply promoting Steem how a lot I bought every month. The bottom month is $2,000 in December, after which the very best month, $28,000 in July.
It was humorous, I used to be going via some monetary feeling like I didn’t find the money for in March. I used to be feeling a bunch of monetary insecurity in March till I noticed I had 300 thousand dollars of Steem sitting in my account.
I should promote a few of it as an alternative of hoarding and insisting that it go up and up.
So, I began.
As soon as I made that shift mentally, I began opening as much as promoting Steem. So, I began promoting some extra Steem going ahead and you may see the large sale in July there.
Now, we’ll go over to a number of the different huge revenue.
Stackskills introduced in $28,000. That’s from educating video programs on stackskills.com. My crypto programs have been doing rather well at first of the yr, after which once they had that massive backlash towards crypto and the market began taking place, then the crypto course just isn’t doing so nicely.
I haven’t been profitable in getting the previous few programs I made up on Stack Commerce both.
So, I’m engaged on my vendor relationship there. The seller modified for the third time with Stack Commerce. The primary woman that did the seller was actually good. The second man was alright, after which this new woman, I’ve not obtained a course up working together with her but.
So we’ll work on that. That is stackskills.com by way of Stack Commerce.
A whole lot of the revenue is available in by way of PayPal. Lots of the revenue like Skillshare, for instance, is available in by way of PayPal. I’m going to do separate movies only for that.
You’ll be able to see all of the PayPal revenue and bills right here. That is every little thing, like all of the miscellaneous type of PayPal revenue and bills.
I spent $17,000 out by means of PayPal, and received $19,000 in.
So, that’s type of the miscellaneous stuff.
Different huge revenue, you possibly can see Patreon. I’m very grateful for $15,000 in revenue from Patreon and loads of that was individuals becoming a member of my associate program who’re actually enthusiastic about Steem, after which as Steem went down and I ended doing Steem, numerous companions canceled and I modified phrases and circumstances on the associate program.
So, I’m very grateful $15,000 in from Steem.
I even have numerous funds immediately from Stripe.
So, you possibly can see $7,000 in funds instantly in from Stripe from my enterprise by way of my college programs or by way of anything that places in immediately via Stripe.
That ought to offer you lots of the revenue.
Let’s go over.
We’ve got obtained some revenue and bills to do right here.
Google revenue, $13,000 in revenue.
These are Adsense deposits from Google. That’s revenue from my YouTube channel that Google deposits in. As you’ll be able to see, the $48,000 in internet spending and almost all of that, virtually all of that was promoting Steem.
I did hardly any advertisements for myself on Google final yr that have been outdoors of Steem.
So, I figured I’d as nicely simply promote Steem. I can get cash from Steem to promote Steem, after which I’ll simply be within the context of promoting Steem.
Wanting again on it now, I might say this is among the worst bills I’ve made. Plenty of these advertisements for Steem turned individuals off who in any other case have been following me, however seeing an entire bunch of advertisements for Steem turned uninterested in seeing me altogether.
I think about there is a chance to reconnect with out me continuously pitching Steem in advertisements anymore. The one factor I’m promoting on Google proper now’s my podcast at Jerrybanfield.com/podcast.
That’s the one factor I’m presently promoting. I acquired a fast YouTube advert saying, “Hey, will you attempt listening to my podcast as a result of I feel you’ll adore it.”
Let’s go over right here to Fb now.
Fb has minus $6,931. That’s from Fb advertisements originally of the yr, then one other invoice from March for Fb advertisements, after which some extra Fb advertisements for my gaming web page on the finish of the yr.
Fb truly disabled the cryptocurrency advert account I used to be doing in March or April someday, after which I made a brand new account simply to do for my gaming and did some advertisements there.
So, seven thousand dollars of spending on my Fb advertisements final yr, which I’ve spent so much much less on Fb advertisements this yr than final yr than I did on plenty of different years, and going ahead I’m not planning on doing a lot with Fb advertisements.
I like promoting the place a creator or an individual immediately will get it. With spending cash on Fb advertisements, it simply goes to Fb and I’m glad Fb now’s serving to creators to receives a commission out, however on the similar time I’ve marketed a lot on Fb, haven’t I marketed sufficient by now?
I hope so.
So, I’ve received hosting with Kinsta. Should you go to Kinsta, it’s managed WordPress webhosting on the velocity of the cloud. It’s actually good. I extremely advocate that for webhosting.
If you need to get Kinsta internet hosting, will you please go to Jerrybanfield.com/assets and use my hyperlink as a result of they provide me a pleasant fee for it?
I spent $1,191 on hosting final yr with Kinsta. My webhosting lastly is an answer I can use indefinitely. Lastly. That is actually good webhosting. I’m extraordinarily grateful for it.
Kinsta managed WordPress internet hosting on the Google cloud. It’s so quick and so scalable.
I received GoDaddy.
I obtained a number of domains from GoDaddy final yr, solely eighty-six dollars in GoDaddy.
One yr, I spent 5 thousand dollars getting domains on GoDaddy. That was one among my many silly issues.
I had podcast internet hosting final yr on Buzzsprout. I spent 2 hundred and eighty-eight dollars for it, however this yr I received free internet hosting on Anchor.fm, which additionally has built-in sponsorships.
I made 100 dollars in my first month on Anchor.fm as an alternative of paying twenty-four dollars a month on Buzzsprout.
So, that was an enormous little turnaround proper there in my enterprise.
All this stuff are listed at Jerrybanfield.com/assets for you. I’ve given you the highlights of the revenue report now. What I’m aspiring to do, is do some extra detailed revenue studies for you the place I’ll break down particular sources of revenue, speak about these sources of revenue intimately, so to get insights into perhaps what you are able to do to earn on that specific supply, or so you possibly can actually see it.
I’ve already made an revenue report on Steem the place I broke down all of the revenue in rather more element on Steem, which is primary this yr.
I used to do month-to-month revenue reviews. I intend to start with January 2019 to get again to month-to-month revenue studies as a result of I really like doing the revenue studies month-to-month.
Final yr with the Steem cash every thing was so irregular that simply doing a month-by-month report was ridiculous. Like to take a look at one month I had misplaced twelve thousand dollars and would have been the report, however within the context of the complete yr on Steem that is sensible. However simply in a specific month, it might have seemed loopy.
So, I’m getting again to common revenue stories for you in 2019.
Thanks very a lot for all you will have completed to make this attainable.
One factor to speak additionally, “Jerry, what have you ever given to individuals in return for this cash?”
I’ve helped lots of people in 2018 construct companies on-line. I’ve offered hundreds of free tutorial movies displaying individuals the best way to clear up issues of their life. Something from the demise of a good friend, to a music tutorial, to cryptocurrency tutorials.
I added an enormous quantity of worth to the Steem blockchain, which I then extracted after seeing that there was a ton of different individuals extracting the worth: “Higher extract my worth earlier than it’s all gone.”
Perhaps that mindset is why it’s all gone.
Anyway, I added a ton of worth to the Steem blockchain final yr. I confirmed tens of millions of individuals the Steem blockchain. I introduced in tens of hundreds of latest customers to the Steem blockchain final yr and that’s why I obtained all that cash from Steem. It’s bringing in so many new individuals to Steem.
I helped a number of individuals have companies like Michel Gerard immediately and I helped a bunch of individuals on Steem to construct their very own companies on-line.
In 2019, I’ve extra formidable plans than ever. I’m imagining doing extra, serving to extra individuals than I’ve ever helped earlier than at a better degree than I’ve ever helped earlier than and that’s the key that I think about will end in extra revenue being produced.
I additionally made loads of reside gaming movies individuals loved, individuals laughed, individuals cried, individuals shared, individuals donated, and I think about that rising a ton in 2019 as properly.
I think about getting some alternatives, paid talking alternatives, and perhaps even some appearing, coaching, workshop, consulting alternatives that may pay very nicely in 2019, that may permit me to go assist in individual. Should you assume I’m good on the display, come see me in individual and you will get the complete expertise.
Thanks very a lot for being right here for this revenue report with me.
I really like you.
Thanks for giving me the prospect to stroll out in my yard shed and work on-line, which pay all of the payments or a lot of the payments for my household.
I’m very grateful for that at present.
I respect what you’ve got achieved to assist and yeah, if I want a mortgage I’ll know who to ask, proper?
My subsequent video, “Can I borrow 100 thousand dollars to develop my enterprise this yr?”
Edits from video transcript by Michel Gerard at www.michelgerardonline.com.