DONT WATCH THIS [record month July 2024]
Summary
TLDRIn this reflective video, the creator documents his record-breaking month, earning $69,000 through his bookkeeping business and other ventures. He emphasizes the importance of hard work, consistency, and organization as key to his success, while candidly discussing the fears and sacrifices inherent in entrepreneurship. The video serves as a personal milestone and an inspiring message for aspiring business owners, highlighting the potential rewards of perseverance and strategic risk-taking.
Takeaways
- 💼 The video is a personal reflection on a record month, earning $69,467 in July 2024.
- 📊 The breakdown of earnings includes $48,000 from bookkeeping, $5,000 from a bookkeeping course, $5,000 from consultations and digital downloads, $8,000 from private money lending, and $1,600 from YouTube.
- 🙏 The speaker attributes their success to hard work and God's blessings.
- 🚀 The speaker started their bookkeeping business four years ago, quit their full-time job three and a half years ago, and has seen their business double annually.
- 🏠 They run a lean business with no employees or subcontractors, focusing on maximizing profit.
- 💡 Consistency in marketing and advertising, particularly on Facebook, has been crucial to their success.
- 📈 They emphasize the importance of taking smart, calculated risks and staying organized in both tasks and communications.
- 🗂️ Their success is also attributed to their ability to complete tasks efficiently and stay organized using simple tools like Excel spreadsheets.
- ⏰ The speaker works hard, often sacrificing personal time, and emphasizes that starting a business is not easy.
- 🌱 They highlight the importance of consistency, hard work, and staying organized for long-term success in entrepreneurship.
Q & A
What was the purpose of the video according to the speaker?
-The speaker created the video primarily for personal reflection on his record month, but also acknowledged that others could watch it if they wished.
What was the speaker's income for the month of July 2024?
-The speaker reported making $69,000 in July 2024.
How does the speaker describe the process of starting a bookkeeping business?
-The speaker describes it as a scary and challenging process that requires a lot of hard work and is not something that will yield immediate results.
What are the main components of the speaker's income in July 2024?
-The main components of the speaker's income were bookkeeping ($48,000), a bookkeeping course ($5,000), one-on-one consultations and digital downloads ($5,500), private money lending ($8,000), and YouTube ($1,600).
How does the speaker feel about the amount of money he made in July 2024?
-The speaker is not very emotional but admits to feeling a bit emotional about the significant achievement of making $69,000 in a single month.
What does the speaker attribute his success to?
-The speaker attributes his success to God's blessings, hard work, consistency, being organized, and making smart and calculated risks.
What was the speaker's initial reaction to losing clients and getting a new job?
-The speaker panicked and took a new job as a staff accountant remotely, but later quit that job and saw his business double each year thereafter.
How does the speaker describe the concept of 'more better new' in relation to his business?
-The speaker explains that to improve (better), one must first do more, then learn from that to do better, and eventually introduce new strategies or methods.
Why does the speaker emphasize the importance of consistency in his business approach?
-Consistency is emphasized because it helps in building a recognizable brand, engaging with the community, and securing clients through continuous presence and follow-ups.
What is the speaker's view on hiring employees for his business?
-The speaker views hiring employees as a significant risk, not only to the business but also to his family's livelihood, and is something he is hesitant to do until absolutely necessary.
How does the speaker approach the task of bookkeeping and staying organized?
-The speaker approaches bookkeeping as a series of tasks that need to be completed efficiently. He uses a simple system of trackers and recurring emails to stay organized and ensure customer service.
What is the speaker's strategy for social media marketing?
-The speaker's strategy involves focusing on one or two social media platforms, creating a lot of content consistently, and then expanding to new platforms once proficiency is achieved.
How does the speaker manage communication with clients and himself?
-The speaker uses a system of recurring emails and a weekly and monthly workflow tracker in an Excel spreadsheet to manage communication effectively and stay organized.
What is the speaker's philosophy on keeping business operations simple?
-The speaker believes in keeping things simple to work efficiently, avoiding over-complication, and not relying on fancy tools or processes that many entrepreneurs promote.
Outlines
📈 Reflecting on a Record Month
The speaker shares a personal milestone, achieving a record income of $69,000 in July 2024. They emphasize that the video is meant for personal reflection to document progress over time. The breakdown of income sources includes $48,000 from bookkeeping, $5,000 from a bookkeeping course, $5,000 from consultations and digital downloads, $8,000 from interest as a private money lender, and $1,600 from YouTube. The speaker stresses that this achievement required significant hard work and is not an immediate expectation for new bookkeeping businesses.
🏆 Sacrifices and Entrepreneurship
The speaker discusses the sacrifices made for their success, such as investing heavily in 401ks and IRAs and saving $20,000 monthly. They highlight the insecurity of entrepreneurship compared to a high-paying W2 job, explaining that losing their business would make it difficult to find equivalent income. The speaker emphasizes the importance of calculated risks in business decisions, like not hiring employees due to the associated risks and moving their office home to save costs.
🚀 Consistency in Marketing and Sales
The speaker highlights the importance of consistency in marketing, drawing from their own experience on social media. They learned that creating a lot of content helped improve quality over time. The 'more better new' concept is explained: starting with creating more content, then improving quality, and finally trying new platforms. The speaker's success is attributed to consistent daily engagement on Facebook, which brought in numerous clients. They also stress the importance of following up with old leads consistently to secure clients.
💼 Hard Work and Organization
The speaker attributes their success to hard work and organization. They detail their routine of early mornings, weekend work, and prioritizing family time while sacrificing activities like watching football. Their task-oriented approach helps manage client work efficiently. The importance of organized communication with clients through various channels is emphasized. The speaker mentions using recurring emails and an Excel tracker for staying organized, and believes keeping things simple has contributed significantly to their growth.
Mindmap
Keywords
💡Record Month
💡Bookkeeping Business
💡Entrepreneurship
💡Consistency
💡Hard Work
💡Organization
💡Private Money Lending
💡Sacrifice
💡Risk Management
💡Social Media Marketing
💡Task Completion
Highlights
The speaker reflects on achieving a personal record month in July 2024, earning $69,000.
The income was generated through bookkeeping services, a bookkeeping course, one-on-one consultations, digital downloads, and private money lending.
The speaker emphasizes the importance of hard work and not expecting immediate success in a bookkeeping business.
A breakdown of the speaker's income sources, including bookkeeping, courses, consultations, digital sales, and YouTube earnings.
The speaker operates without employees or subcontractors, minimizing expenses and maximizing profit.
A personal acknowledgment of the role of faith and blessings in achieving success.
The journey from starting a bookkeeping business to quitting a full-time job and facing challenges.
The exponential growth of the business each year, with profits increasing from $50,000 to a projected $400,000+.
The minimal expenses involved in running a bookkeeping business, such as no need for an office, employees, or inventory.
The speaker's approach to entrepreneurship as a calculated risk, including the decision to close a non-profitable trucking company.
The concept of 'more, better, new' in marketing and advertising, emphasizing the importance of consistency and quantity in content creation.
The speaker's strategy for social media marketing, focusing on being active and consistent to attract clients.
The practice of following up with leads consistently, leading to client acquisition even months after initial contact.
The value of hard work, organization, and efficiency in task completion for business success.
The importance of staying organized in communication with clients and the use of a tracking system for leads.
The speaker's preference for simplicity in business operations, avoiding overcomplication and unnecessary processes.
The use of a simple Excel spreadsheet for weekly and monthly workflow tracking as a key organizational tool.
Transcripts
I warned you I said don't watch this
video this is a record month this video
is for me honestly I make a lot of
videos for you guys I make these videos
teaching you how to start and grow your
own bookkeeping business but genuinely
seriously this video is for me I know
I'm posting
it kind of a contradiction posting a
public video that's only for me you guys
can obviously watch it if you want but
honestly seriously this video is for me
I want to talk about my record month
last month I'm making this video I'm
posting it on YouTube so that in one
year 5 years 10 years I can look back on
this video from July 2024 I can look
back on the progress that I made then
and hopefully the progress that I
continue to make I had a record month in
July of
2024 I made
$69,000 last month and honestly I I make
a lot of videos talking about how much
money I make and I teach people how to
start a bookkeeping business so I did
not even want to advertise this how much
money I made because it's unrealistic
for anybody trying to start a
bookkeeping business I am certainly not
telling you that if you start a
bookkeeping business you'll make $69,000
next month it has taken me so much hard
work to get to where I am right now I
don't want you to think that this is
going to happen to you in the next
couple months it could happen to you in
the next few years but it's not going to
happen to you right away without a ton
of hard work and I'm going to talk about
in this video a lot of things upon my
reflection that I realized helped me get
to where I am today let me just break
down the numbers for you aka me my
future self bookkeeping alone
$48,000 last month I've got a
bookkeeping course $5,000 I do
one-on-one consultations and I sell
digital downloads another $5,000 give or
take it's like 5,500 so if anybody is
adding up these numbers interest income
$88,000 I am a private money lender to
Real Estate Investors for Real Estate
Acquisitions I made
$8,000 last month just lending and then
on YouTube I made
$1,600 so all that added up give or take
a couple hundred it ends up being $
69,4 67 that I made last month I don't
have any employees I don't have any
subcontractors I barely have any
expenses that's pretty much all
profit crazy it's the craziest month
I've ever had I this is probably not
going to be a surprise to you but I'm
not a very emotional person but I can't
help but kind of get a little bit
emotional just thinking about the fact
that I made
$69,000 last year and first and foremost
I have to give all glory to God I would
not be where I am today if God had not
blessed me with all of my abilities my
skills my resources good timing
everything else so first and foremost
all glory to God I would not be here
without his Blessing four years ago I
decided to start a bookkeeping business
three and a half years ago I quit my
full-time job that was a very scary
decision and then two years ago while I
was in the middle of running my
bookkeeping business I started to panic
I lost a couple clients and I actually
got a new job I got a job working
remotely as a staff accountant and then
6 months later I quit that job and then
my business has pretty much doubled
every year so I made $50,000 my first
year $100,000 my second year $200,000 my
third year I'm on Pace to make way more
than $400,000 this year profit I'm
talking profit like straight up profit
as a bookkeeping business owner we have
so few expenses we have we don't need an
office we don't need employees we don't
need inventory we don't need buildings
or
Vehicles very few expenses you just need
a computer and an internet connection
and if anybody is actually watching this
video I will just say check out all the
links in the description of this video
I've got a ton of resources that I made
just for you okay let me talk about a
few things that have got me to where I
am today entrepreneurship first of all
is so incredibly scary it's terrifying
quitting my full-time job three and a
half years ago so so scary I have a
family I have a morgage I have bills to
pay I've got kids I so scary I went to
college I was an army officer I I had
some self-respect that like I had a good
job working at Amazon that I didn't
necessarily want to quit my good job and
be a bookkeeper are you kidding me like
that's that's a scary transition but
that is what drives me to work so hard
every single day being an entrepreneur
one of the hardest jobs I've ever had
and that's also why I save a lot of
money and I invest my money we my family
and I we would not be where we are today
if we did not make sacrifices over the
past s or eight years we have really
made a ton of sacrifices I made a video
a couple weeks ago showing my net worth
as a 30-year-old and almost all of that
is contributed to the sacrifices that we
have made we invested a lot of our money
in 401ks Ira now I'm investing and
saving $20,000 a month into private
money lending to hopefully set myself
and my family up for success in the
future but I do all that because
entrepreneurship is so scary if I had a
if I had a W2 job making half a million
dollars a year that would be 20 times
more secure than my entrepreneur
business making $500,000 a year because
if something God forbid something
happened in my business I would not be
able to go out to the job market and get
a job making $500,000 a year as a
bookkeeper or even as an accountant or
even as a CPA like I would have to be
either a very successful salesperson or
maybe a partner at an accounting firm I
don't know what I would do but it's
scary because if I if something goes
wrong with my business I cannot just get
a new job and make up my income and
that's why I try to take smart and
calculated risk with my business all
things Financial when it comes to hiring
employees everybody you guys I know I'm
sorry but all of you guys always ask me
like hey can I please work with you can
I please work with you and that
terrifies me I will get to a point at
sometime whenever I need to hire
employees but hiring employees that's a
big risk on not only my business but
like my family my livelihood like I will
have to give up some of my income to
somebody else and now you as my employee
you are dependent on me to pay your
bills and to support your family so
that's a huge risk I understand I need
to get there at some point if I want to
grow a big bookkeeping business but
hiring employees just scares the crap
out of me I decided to get rid of my
office in January because we moved to a
new house and so that was a calculated
risk that I had to make a decision get
rid of my office save 650 bucks and just
work out of my home office I'm trying to
run a lean business so that I can keep
as much profit as possible it might not
be super smart for long-term growth I
get that if I was a business Guru I
would probably be doing things a little
bit differently but like I said
entrepreneurship is so scary so I'm
trying to take smart calculated risk if
you guys have been following my journey
for a long time you know that I had a
trucking company in 2021 and
2022 I decided to close my Trucking
Company because it was not working as
much of a hit that was to my ego I had
to make a calculated decision and close
my Trucking Company because it was not
profitable I was losing a ton of money
entrepreneurship is so scary don't ever
let anybody tell you that starting a
business a bookkeeping business or any
business is easy or fun it can be easy
it can be fun like in five or 10 years
but getting started trust me not fun not
easy super stressful super scary but
with all that being said still the
greatest career decision I've ever made
okay Point number two first point
entrepreneurship super scary Point
number two consistency is everything I
know it's almost ironic I talk about how
important consistency is so frequently
so consistently but seriously it is
everything especially whenever it comes
to my advertising and marketing there's
a really interesting idea that Alex rosi
I learned from Alex Heros it's this
concept of more better new and I didn't
really understand that at first but
looking back on my advertising and
marketing Journey it really clicks it
makes so much sense more you got to
start with more I did not know what to
do on social media I did not know how to
create content how to sell my services
how to Market to prospective clients
clients so I just created a ton of
content more more more it's not going to
get better until you do more and that's
what I learned I got better because I
just did more more more more and and I
learned what worked and what didn't work
and then I did more of the good stuff
and less of the bad stuff so you got to
start with more and then you can move on
to better so many people don't start and
they don't create a lot of content
because they want it to be good in the
beginning but it's this vicious cycle
you can't be good until you do more it's
almost like if you're trying to learn
how to play basketball and you're scared
you're intimidated you go to pick up
basketball at LA Fitness and you want to
start playing but you're scared and you
don't want to start playing with these
guys who are already really good if you
never start then you're never going to
get better so you need to do more you
need to practice more you need to create
content more more more and then you
figure out what gets better and then you
can start doing new stuff so I recommend
if you are trying to create content on
social media specifically trying to grow
your bookkeeping business pick one or
two social media platforms get really do
a lot of content on Facebook more more
more get better at creating content on
Facebook and then you can go to
Instagram or LinkedIn or Twitter or Tik
Tok like pick one or two social media
platforms do a lot get better and then
you can go to new social media platforms
that's just a very specific example of
how that more better New Concept applies
to marketing and sales for your
bookkeeping business now a lot of My
Success honestly comes from social media
people know who I am on social media and
that only happened through consistency
like when I got started I had had 300
Facebook friends and now I have maybe 7
8 9,000 followers on Facebook I'm not
sure how many but people know who I am
on Facebook because I show up every
single day last month a lot of my
bookkeeping Revenue came from new
clients I got like five six seven maybe
is new clients last month and almost all
of them came from Facebook or following
up with old leads first of all Facebook
I'm really active on Facebook and I get
the majority of my clients from Facebook
that's like 100% contributed to my
consistency on Facebook every single day
for four years if you want to grow your
bookkeeping business I promise if you
just show up every day on social media
and create a post and connect with
prospective clients and engage with your
community I promise you you will at if
you're going to get clients no matter
what if you do it for 4 years guaranteed
or your money back following up with old
leads this is another thing that applies
to consistency it's more related to
maybe sales but if somebody reaches out
to me and they express interest in my
services I immediately add them to a
Tracker I didn't do this at first I
didn't do this for like the first 6 or
12 months of my bookkeeping business I
probably missed out on a lot of
potential clients but I can think
specifically back last month one of my
cleanup projects hired me because he
reached out in January and he expressed
interest we had a phone call we talked
he said yeah I want to do this this
let's do it and it kind of fizzled out
but I added him to my tracker and then
every month I followed up with him and
this is how I landed this client he's
paying me now 750 bucks a month he paid
me
$33,750 is I think to do like a catchup
for 2024 and I made all that money
simply because I never gave up I
consistently followed up with this guy
every single month from January through
July and he ended up hiring me he
probably would not have hired me or he
would not have hired me as early as he
did if I was not consistently following
up with him every single month and it's
so super simple I add him to my Excel
spreadsheet my tracker and then every
month I send him an email hey are you
still interested in bookkeeping if not
no worries let me know I'll remove you
from my list not a big deal not super
invasive not annoying not pushy just hey
are you still interested in bookkeeping
let me know so consistency on Marketing
sales it's everything
okay so Point number three work hard and
be organized point one entrepreneurship
super scary point two consistency is
everything point three work hard and be
organized this is such a contributor to
my success I made it like I said in the
beginning I made a ton of sacrifices I
wake up early I work on the weekends I
work late nights and I have a family I
try to spend I try to prioritize my
family I spend a lot of time with my
family I try to sacrifice other things
not necessarily time I'll be honest with
you I don't really watch football
anymore I used to watch a lot of
football when I was in the Army working
at chewy working at Amazon even in the
beginning of my bookkeeping business
days I watched a lot of football on the
weekends I don't do that anymore I used
to sleep in I used to wake up at like
6:30 or 700 a.m. but I don't do that
anymore I wake up at 5:00 a.m. every day
I work for a couple hours on the
weekends when my kids take a nap I stay
up late on the weekends when my kids go
to bed and I do bookkeeping work like I
work really really hard to get to where
I am today and I always say this but
starting any business is not easy it
could potentially pay off and be easy in
the future like after you have systems
in place and employees in place but I
promise you the first 5 years are not
going to be easy ton of early mornings
ton of
sacrifices just to wrap up this video I
want to attribute without like tooting
my own horn like I said I'm making this
video for myself I'm just kind of
documenting what I think has led to my
success up until this point my ability
to complete tasks I have here written in
my notes boom boom boom like I am a task
completing machine because bookkeeping
is pretty much doing tasks I have weekly
monthly recurring tasks that need to get
done related to bookkeeping and customer
service and my ability to stay organized
and to get those tasks done without too
much thought without stressing out
without spending too much time doing
them and just working really efficiently
that has enabled me to handle a lot more
work which means I can have a lot more
clients which means TAA I can make a lot
more
money couple more points here and then
I'm going to wrap up this video My
Little journal to myself recording my
record month last month organizing
Communications so communicating
effectively with current clients
prospective clients super important but
you got to stay or organized because I
have so many different channels where
people can communicate with me like it's
not like I have just one landline
business phone where people call me I
pick up the phone answer it or people
leave me a voicemail and I call them
back it's so much more complicated than
that and it's probably like this for
every other business owner but we have
social media DMS text messages phone
calls actual meetings like in-person
meetings or phone meetings and then we
have emails we have so much
communication coming at us constantly
every single day even on the weekends I
have to stay organized and a lot of My
Success has come from my ability to stay
organized specifically when it comes to
communication because customer service
is all about communication and then
finally I have some recurring emails
that get sent to myself and that has
been a GameChanger with communicating
and communicating with clients and also
communicating with myself to stay
organized and then last point I have my
weekly and my monthly tracker that has
been a godsend I'll be curious to see in
a couple years if I watch this video
back I'll be curious to see if I'm still
using the same Microsoft Excel
spreadsheet as my weekly and monthly
tracker but I live and die by my emails
and my weekly and monthly workflow
tracker on Excel spreadsheet the moral
of no not the moral of the story but
another key point I want to bring up is
that I try to keep things simple I try
to keep things simple I don't over
complicate things this enables me to
work efficiently just keeping things
simple I don't have fancy CRM software I
don't have a virtual assistant or an
admin assistant I don't have like a
bunch of these crazy processes that a
lot of entrepreneurs talk about and
preach and try to sell like I try to
keep things super super simple and I
really think that has contributed to my
fast big growth over the past four years
okay if anybody's watching this video
hopefully you didn't make it until this
point this is a video for myself but
hopefully it did help you if you watched
until the end that's it for this video
guys last month record month
$69,000 I'll see you guys in the next
video
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