Welcome to the Might 2019 revenue report right here with me Jerry Banfield, I really like taking a look at other individuals’s money and revenue and seeing the way it’s coming in and being spent, which is why I do that for you each month.
I put this revenue report on the Jerry Banfield weblog and on my web site and I take pleasure in presenting you the numbers we’ve received from Might 1st, 2019 to Might 31st, 2019, for my whole enterprise, as I monitor it in QuickBooks Self-Employed, which if you wish to help me earn 30 bucks, here’s an affiliate link and in addition on my web site on JerryBanfield.com/assets, it’s actually useful for doing all of your accounting software program.
The whole revenue this month -and I’ll go into more detail to point out you ways this got here in- is $9,941, which I’m very grateful for, because that’s up about 50% from the beginning of the yr, and the growth is taking a look at the most effective I’ve seen in my business in years.
If you will take pleasure in studying and contributing to the dialogue for this publish, will you please be a part of us on the YouTube video above and depart a comment there because I read and respond to most comments on YouTube?
After taking a yr to play video video games, and do music, and neglecting a lot of the revenue, making elements of my business. Now here we’re. In the present day.
What you’ll discover is we go down the bills of the most important expense is contract labor, $22,000 in contract labor, nearly all of that’s going to pay for brand spanking new video courses to be filmed. Now the great factor with this expense, I’m going into constant right not hiring anybody new. And a few of the present tasks have completed thus this massive expense can virtually utterly be reduce in let’s say where I can’t get any more loans. It could possibly be minimize in that state of affairs. However on the similar time, this contract labor is creating increasingly more worth every month for my enterprise. There are information which are out there by way of Personal Label Rights in my Dropbox folder, because it was all of this contract labor. And we’ve obtained really helpful work being completed that by contractors additionally to build up Uthena and to put all the videos on my YouTube channel to handle all these elements of my business that I used to be doing myself, which made it so I didn’t have time to do other extra worthwhile work and give attention to constructing the enterprise as an alternative of working in it.
The remainder of Advertising Bills, also. Things like hosting, which I do with Kinsta, there’s affiliate hyperlinks to all these on the assets page on JerryBanfield.com, the email advertising a number of hundred dollars a month by way of Lively Marketing campaign and the price of hosting Uthena $499 a month, all that goes in advertising and the curiosity paid on that’s truly not the complete amount I’ll go back on the end of the yr and put all of the interest on. However that was just on one specific curiosity cost.
This month I’ve additionally acquired some smaller bills here like the part of the internet bill, part of my telephone invoice. These go on different expenses. Complete -$18,000.
I’ve borrowed money all yr to fund this enlargement of the business. And I think about we’re getting near a tipping level where at first the revenue will match the expenses, the expenses don’t have anyplace to go from here in the brief time period, there’s no purpose for the expenses to go any larger. Meanwhile, revenue has a whole lot of progress potential.
Let’s take a look. First, you may assume oh my god, you lose that a lot cash. I spent more than I earned because I’m investing in having the most important amount of revenue and creating probably the most amount of worth. These two are very intently linked, that I’ve ever carried out in my business producing video courses and constructing an unimaginable enterprise system by way of Uthena that helps out different individuals.
You spend cash to generate profits. I’ve been investing to construct this, in a number of months when the revenue is ridiculous, perhaps $100,000+ a month and the expenses are still about the same. Then this may be the revenue report I refer back to -and the opposite ones in proximity to it- and say: Hey, this is how we obtained right here.
Now let’s take a look at the business system itself. I did one thing this month, a serious step ahead in my business that’s already paying big rewards. I’ve began providing free calls on my website, you can now schedule a 30-minute name with me completely free of charge, anybody is welcome to schedule name so long as the topic isn’t ethical hacking. I actually don’t know much about moral hacking, I simply paid individuals to supply programs that do. Thus, I’ve ended three out of four the individuals scheduling moral hacking calls, have not made the call.
If you want to speak about one thing apart from moral hacking, we will speak. You may take a look at it upfront and say wow, actually, you’re going to offer 30 minute free calls once you’re spending all this money. How’s this going to make you money?
I struggled to do this as a result of I didn’t see that it was value my time. And now I’m having these calls, I’m getting some nice info, I’m capable of assist individuals out. Individuals ask what’s the aim of the decision, I acquired an entire part on that. The aim of the decision is that will help you if you’ve acquired a urgent drawback or something you actually need to talk about with me these calls are that will help you I don’t have to make any money out of the calls. There’s no strain for me to sell you anything in a name, which is really nice.
I’ve put these up with the aim of actually serving to you and being out there to talk to you and give again for all that you simply’ve finished. I imagine that while there’s no direct revenue potential and doing these calls, the opportunities that arise from them are unpredictable and could also be large.
For example, somebody just scheduled a name to talk with me about getting buyers for Uthena. An investor may put one million dollars into Uthena. And that is something that’s attainable out of these calls.
When you’d wish to schedule a name, right here’s the process. You just click the button, decide a day -I do one free call a day seven days every week synced with my calendar first come first serve- click on a spot, you decide a time, it’ll be in your local timezone, you then put your identify, no matter e mail you need to use, you then decide your name matter -if you need to speak about hacking, I’ll cancel the call, I can’t help excellent with hacking- if you want to speak about educating online or collaboration, interview, business progress, a life state of affairs or one thing else. Put that in there, I recommend you speak as much as you’ll be able to upfront.
I’ll read this beforehand and be ready, you then’ve obtained your website on here where I’ll link to, in the video, if we’re capable of make one, you’ll be able to be a part of my e mail listing. And if you would like a textual content message reminder, you possibly can schedule that. In order that’s my free call system. I’m actually excited concerning the potential of this.
I’ve also obtained updated this month all these totally different affiliate packages. And then Uthena programs right on the sidebar of my whole website. This is serving to me to get some extra affiliate earnings, get some extra clicks.
If you want to give again or help out in any means. And you realize, for example, you want Video Course hosting, a webhosting or a display recorder, or no matter it is, all these footage and then the Assets web page on my website are excellent ways to try this. So I’m imagining it will improve some revenue. Nevertheless, I’ve gone on for several minutes now without truly displaying you where the revenue.
The primary supply of revenue I have is promoting video programs on-line. I sell programs on Uthena.com, which is hosted with Thinkific it’s principally an enterprise self-hosting answer that I’m eager about and planning every single day, how can I give probably the most value to students? And how can I give probably the most back to instructors?
On Uthena I did an enormous update to the Train web page, you can now apply instantly with out enrolling in a course, or signing up all the terms and circumstances are laid out very clearly together with the advantages.
A few of the expenses this month when it comes to contract labor have been paying out advances to instructors $20 per course, whenever you upload your course to Uthena. Based on what we’ve acquired on this spreadsheet and on this web page here, you’ll get $20 per course.
For those who put 100 programs up, we are ready to advance you $2,000 for these courses, as a result of that’ll help us begin selling them immediately. Then once we make the gross sales back, we maintain the primary $2000 we might have paid you because that’s an advance and we already paid it to you, you then begin getting payments on PayPal after that.
I’ve received the phrases all laid out very rigorously, explaining that you simply get 80% of natural gross sales, which is best than another platform and 60% even when it’s bought by a special affiliate.
I’ve received a Uthena gross sales report that I’m so enthusiastic about also, we just received this up proper here. In case you look over, you’ll be able to actually see each single order on Uthena in real-time, you’ll be able to see exactly what somebody paid.
You’ve received the worth, you’ve acquired the trainer earnings, the affiliate code, if there was one, this truly calculates all of this in real time so you’ll be able to see precisely what is selling, how a lot individuals are paying and who’s making what.
I’m grateful we’ve acquired $2,483 in gross sales already in just 16 days of June. That may be a massive improve on what we’ve had previous months on Uthena. And we had something like $4000 or so complete final month on Uthena, this month is on tempo to move $5000 and perhaps much more as I’ve just made massive updates on YouTube. And we’ve just acquired some new options on Uthena as nicely. We’ve received this large Uthena College bundle now has 209 courses.
I think about this can have over 10,000 courses in the future, and I’ve obtained the identical I just put this up at present it’s the identical factor except it’s $9.81 a month as an alternative of a one time cost with a one month free trial.
So these, we bought the primary two or three of these last month and this month. And now we’ve acquired this up to 4 subscriptions, the Ethical Hacking Ceaselessly course bundle is at present the number one vendor now with 21 programs in it, individuals are buying it. Thanks in case you’re one of many individuals who’s bought a course.
All of our courses on Uthena at the moment are $27.81 we now have modified our course pricing coverage to make it consistent and easy. We’ve also removed all coupons. This once more makes it easy. We don’t have to compete with any others.
This is the primary thing I’m investing money in, to earn back all the sales. Getting courses filmed which might be them selling issues like this Ethical Hacking Perpetually course bundle on YouTube, and you may see and keep up with the sales, all instructors can watch the sales are available in real-time and see what proportion of those you’re getting based mostly on.
Nevertheless much instructor earnings are -if you’re in a course bundle, every instructor splits the earnings evenly by number of courses- which is nice in the event you’ve received a ton of programs. And in the event you’ve obtained a very long course you possibly can break it up into elements on Uthena to get your even to get the quantity of revenue it is best to get.
Let’s speak about a few of the different revenue areas and the expense areas.
YouTube, this month, the ad income is up considerably, and at this fee, the ad revenue is on its method back to 2000 a month, which it was before the YouTube advert pop ellipse and I let my YouTube channel objective, but the YouTube progress is incredible.
Firstly of the yr, the views have been underneath 200,000 a month, the subscribers have been about 1600 or so a month because the starting of 2019 was unbelievable progress on the YouTube channel. And a number of other of the videos are new releases.
These movies are new releases, and these are views inside the final 48 hours. A number of of those new and people are movies I paid contractors for. That’s how this entire factor works together right here, so I paid the contractors, the cash goes out right here then the courses go up on Uthena. After which I’ve obtained three of the highest three movies this month is, the Greatest Hacking course, the Python Hacking and Android improvement. All these are model new, all just paid for contractors.
And now we will see these are a few of the prime videos on my YouTube channel already.
And that’s how we’re selling videos by other instructors on Uthena.
Once you start educating on Uthena, we’ve received a brand new program the place we’re uploading movies, you give us your videos that may put a free preview on YouTube of your course after which promote it for you on Uthena, the benefit being with the dimensions of my Youtube channel I get those 10s of hundreds of impressions on virtually each new video get tons of to anyplace from hundreds of views on a video inside the first few days of release.
That provides it a chance to lay a foundation and rank larger and higher over time than in case you had your personal YouTube channel, that you simply didn’t pay a lot consideration to, it’d be troublesome to get that sort of visitors.
I’m also planning to make another YouTube channel one we’ve acquired too many videos to put out on my channel by itself so the YouTube views, drive the purchases of video courses and bundles on Uthena after which that’s how this entire system works together. I’m doing an all-organic visitors system right now no paid advertisements on Uthena.
I additionally am on some other course platforms let’s take a look at probably the most annoying during the last month Skillshare took my profile down last month. Due to an inaccurate DMCA request, SkillShare immediately took the profile down without asking me anything or giving me the chance to offer a counter notice previous to taking the profile down.
I then offered a counter-notice, SkillShare took several weeks to place my profile again up, SkillShare then took down my latest Google Go course as a result of I had it produced by another teacher. SkillShare did not give me the prospect to even specify fairly my account is a personal account or a enterprise account.
I’ve specified to myself and to SkillShare by way of e mail now that I have an organization account that SkillShare permits, they haven’t responded and 5 days now.
This platform is probably the most annoying out of any platform I’ve been on for issues like altering the insurance policies after which getting a strike on it. You used to be able to put course on SkillShare that we’re all about what number of followers you get. And actually, Udemy encourages you to give attention to outcomes SkillShare doesn’t permit that, they modify their coverage.
I talked to at least one teacher who received banned because of them altering that coverage all the sudden and he received a few different fast strikes after which acquired his entire profile taken down. Additionally, the sum of money earned on SkillShare versus the amount of effort is the worst out of any course platform with the same amount of SkillShare, I have bought tons of of hundreds alone courses on Udemy, with extra effort bought over $600,000. On StackCommerce with much much less effort over $150,000 in gross sales. SkillShare is the lowest quantity of return based mostly on the quantity of effort.
Should you calculated all the time and power in SkillShare, the advertisements I ran to advertise my profile, and the lack of opportunity value of I might have promoted one thing like Uthena as an alternative of sending individuals on my YouTube channel… I’m achieved! I’m executed with skillshare, they’re a waste of time, the platform is going nowhere for my part with arbitrary insurance policies.
For instance, they don’t permit cybersecurity Moral Hacking courses on there are getting random strikes as a result of the consumer interface is about up in a method you could’t specify your account is an organization or a private account. The help takes eternally. For example, once they took my profile down, they did it inside 24 hours of getting the DMCA request, it took over three weeks for them to place my profile again up.
That’s the top of my skillshare rant on there.
I’m going into element about whatever I’m working with every month and the revenue stories. When you watch every of the revenue stories back to back to back, then you could really get a whole picture of my business that didn’t take hours to provide you in any other case.
One thing I’m really enthusiastic about, the expansion sooner or later also is the Jerry Banfield companion program. We had one new companion in Might and the associate program is $6,543.21 to hitch it’s as soon as for life. And you then get weekly voice calls with me when you identical to to hang out with me or work in my mastermind. We’ve a very robust group of about five or 10 of us that come to a lot of the associate calls work collectively and assist each other, we’ve received an inventory of a number of the more lively companions right here on the website
Auret and Jewel simply did an awesome testimonial video for the associate program. They have earned over $11,000 working with me, since they joined as a associate the Associate Program is my first selection of where I rent individuals from, for those who’ve paid to be in a associate program and I want some work finished, I’m going to be asking you first to see if I can begin spending money with you, which is strictly what I did.
We’ve had companions which have constructed businesses which have gone from zero to $10,000+ a month through the use of the assets obtainable within the Associate packages corresponding to my Dropbox folder with all 148 of the video programs I have plus all the brand new ones and with just working collectively taking advice and serving to me out.
I really like the companion program because it helps me out so much and it provides me a very good place to give attention to giving back in the event you’d like to hitch us as a associate now’s a good time as a result of I’ll even start doing two companion calls every week as an alternative of 1 to ensure we get some extra time with companions and
I’ve given you a very good overview of the business and the bills. I do point out that a lot of the expenses have been on Upwork. For those who look the place did I truly spend the money on this contract labor Upwork.com is where I spent a lot of the cash. Upwork.com has ignored my request to be sponsored although it’s so natural for me to say them, I assume aren’t fascinated with working with me right now which is ok.
I am accepting one exclusive sponsor underneath the Providers section on my YouTube channel that may be in every single video and all my social media accounts, my Fb, my twitter, and my podcast.
Really good opportunity for those who’d wish to get in while the expansion is so heavy before the price goes up. I feel this may be a very good alternative for the suitable sponsor and this is what I really like about Uthena it is we’re capable of put providers up on Uthena. We did make a sale of my hourly providers. One hour that folks I imagine the who purchased can be utilizing it for a name with me.
Alright, this revenue stories 20 one thing minutes now it’s time to wrap it up.
Thanks very much for studying how I spent $18.000 more this month than I earn and due to all the banks that have loaned me cash to get this far, I shall be doing a internet value report quickly.
At present, my enterprise is at present $92,000 in debt and we’re getting close to the turning point the place I imagined in a yr all the debt will probably be paid off and it will seem funny that I ever was in debt as we did once earlier than for immediately.
I’m very grateful to have this revenue report to current to you.
If you want to speak with me, you’ll be able to attempt to get in on a one-on-one name if there’s time out there.
For those who just need to have extra flexibility in scheduling your name. You’ll be able to seize an hour with me on the Hourly Providers on Uthena after which you’ve got rather more base, you’ll be able to either schedule your name out so far as you need to or you possibly can rent me to do other things for you.
I really like you. You’re awesome. And I’ll see you within the next submit.
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