Today’s post is for the weekend warriors.
For the soloprenuers, the wantreprenuers, and the entrepreneurs who are striving to make 2018 the best year of your lives.
The Distilled Dollar mission, now that my wife and I quit our 9-5’s to support this site’s growth full-time, is to end financial trauma in our lifetimes.
As a CPA, and with my wife as my co-founder and editor, we distill personal finance principles into actionable advice to help you pursue financial independence, while we pursue this route ourselves.
THIS POST IS NOT ONE OF THOSE POSTS.
Instead, this post will focus on making money and how we’re doing it here on Distilled Dollar. In the spirit of radical transparency, I feel obligated to reveal these numbers, despite personal reservations.
Telling someone about a failure is embarrassing, and surprisingly, so is telling them about a big win.
Some folks, shockingly, miss out on the years of hard work and chalk up an overnight success to dumb luck.
Of course, making more money is absolutely key to accelerating your financial year, but so is frugality, and we still believe each go hand in hand to gaining financial freedom.
Distilled Dollar has not always been a successful blog, and I gently remind others to see how it takes many months to build a successful online site. (You can do this by checking out previous blog income reports from Q2 2017 and my first 10K quarter from Q3 2017)
Here’s a snapshot of Q4’s financials:
Revenue – $112,016.35
Expenses – $5,800.89**
Income – $106,215.46
For a limited time, I’m opening the doors to a 1-hour consulting call with me at an affordable rate of $100. If you’re interested in this offer, sign up below and you’ll receive an email with further details.
From Part-Time Blogger to Full-Time Entrepreneur
When I launched Distilled Dollar back in March of 2016, I never expected this level of success.
This bears mentioning again:
I never expected success. Neither did my then-girlfriend-now-wife.
Many folks start blogs for the absolute worst reasons: to make money overnight.
That’s not how it works.
The original intention with Distilled Dollar was for my girlfriend at the time — now my wife! 🙂 — to read through the articles I wrote and for us to have a healthy discussion on those money topics.
We had gone from living paycheck to paycheck to saving over 60% of our income, in only three years, and so I knew we had a lot of insights to share… but becoming a full-time blogger or full-time entrepreneur was never the “goal”.
It is humbling to know my readers have provided me the space to service them and honor them as we all grow and pursue financial independence.
Thank you from the bottom of our hearts here at DD and we promise to deliver our best to you in 2018 and the years to come.
Blog Income Report Q4 2017
Now, for the part that many of you skipped straight to:
Revenue of $112,016.35 is broken up as follows:
Entrepreneurial and Launch Coaching – $109,000 (skip to the next subheading to read more about this)
Financial Coaching – $0*
Consulting – $1,200
Courses – $550 (residual sales from the course launched in June)
Personal Capital – $1,000 (my favorite free money tracking app – I receive $100 if you link your accounts in total of $100,000 to be monitored by their platform. PC does offer premium services as well, hence why they can afford paying me $100 for someone signing up with 100k+ in assets.)
Ads – $264.94
Amazon – $1.41 (honestly one of my favorite sources of revenue to look up since this means people are buying the same influential books that have changed my life)
*Financial coaching is at zero because, while I love talking about money, I do not have any premium coaching packages specific to personal finance. Perhaps in the future, but for now, I feel more comfortable working with full-time YouTubers or Podcasters and other entrepreneurs to expand a business, launch a product, and develop their online presence.
For a limited time, I’m offering 1-hour consulting calls for only $100. Subscribe below to receive further details.
People have been asking me for years to release my own course or service specific to money. For those who have kept asking, thanks for patiently waiting as I fine tune the course I’m working on. Thanks especially to those involved with helping me refine the material. You’ll hear much more about this offer over the next week, so stay tuned!
Coaching Entrepreneurs – $109,000
Obviously, the big breakthrough this quarter was launching my coaching practice on October 1st.
As a CPA for the past 4 years and former employee in a Big4 accounting firm, I was lucky enough to be in a position to develop a consulting mindset right out of school. The skillsets I honed during those 80-90+ hour weeks in public accounting geared me up better than I could have dreamed for coaching others.
That being said, I immediately purchased a coaching course from an expert I trust (for $2,399) to further craft my coaching skill sets. The fact I’m most excited about, is that I have had every client renew so far. My goal is to invite only 3 more people into the coaching services this quarter. If you’re interested in being added to the waiting list, I’ll make you go through one hoop by reading the original post that launched the consulting practice. You’ll find a subscribe box at the bottom that will add you to the list.
With nearly 1.5 million downloads for the podcast in 2017, you can expect to see more revenue in 2018 stemming from the podcast. It has been an honor to be voted #4 business podcast on Podbean, and still a shock to see the growth. For now, my focus has been on consulting, courses, and most recently on coaching, so the Podcast revenue stream has been late to develop. To remedy this, you’ll hear more on the Podcast soon about our first major sponsor, and I’ll share more details on the Q1 2018 Blog Income Report.
Expenses of $5,800.89 is broken up as follows:
Coaching Course – $2,399.00 (details are mentioned above on why I invested the earliest coaching revenue back into a course provided by an expert I trust.)
Credit Card Fees – $3,217.50 (uggh!! – Not much you can do to avoid these.)
Teachable – $148.50 (my half of the Teachable fee for hosting a course on their platform)
Hostgator – $35.89
**Estimated Withholdings – $0.00 (I’ve seen plenty of bloggers leave this line out, so I added it here. The original intention with Distilled Dollar was to always reinvest every dollar earned which would result in $0 income and $0 in taxes. Now that the consulting and coaching services have provided my wife and I with the room to pursue Distilled Dollar full-time, we plan to stick to reinvesting all revenue received from the personal finance aspects of the site. We will utilize the entrepreneurial coaching and consulting revenue to effectively replace our previous paychecks, so to speak.)
2017 Wrap and What’s Next for Distilled Dollar
Here in the Distilled Dollar household we’ve started our NEW YouTube channel. Check out the clip below and subscribe to help us reach out goal of 100 subscribers by the end of January.
As promised, you can expect a new video everyday this year. If I fail to deliver on this promise, then you can tell everyone, that I have no word as a man. I need to truly burn my boats or else I’ll find an excuse to not deliver!
Each video answers one reader question, and if you leave a YouTube comment we’ll be sure to add that question to the top of our questions list.
YouTube is a beast, and we already have plans to purchase a few extra pieces of audio and visual equipment, along with hiring in an extra graphic designer to help out. Subscribe for the journey and follow along as we all enjoy financial freedom, responsibly. 😉
This is a wrap on my Q4 Blog Income Report. How was your Q4 and the wrap of your 2017? How are you using the momentum from last year to carry yourself further in 2018?
P.S. For anyone looking for more of a, “behind-the-scenes,” look at Distilled Dollar, follow our Instagram page by clicking here. My wife is in charge of posting on Insta so she’s adding hilarious gifs, YouTube outtakes, and tid-bits about our transition from 9-5’ers to full-time entrepreneurs.