EP 205 - Q2 2023 Income Report - 7:27:23, 1.02 PM

Ellen Yin33min

Ellen Yin

00:00

You're listening to Cubicle to CEO, Episode 205. Hey, welcome to our quarter to 2023 income report made possible by our amazing sponsor Theory Planning Partners. Thank you so much to the team at Theory for supporting our mission for financial transparency. My name is Ellen Yin, I am the founder of cubicle to CEO. And I have been publicly sharing my income reports for my business since 2019. So this is our fifth year now of reporting exactly what our business makes spends and profits every 90 days. And if you're new here, you can catch up on all of our past income reports at Ellenyin.com/incomereport. But if you're not new here, then you know, we've been doing this practice for so many years because we really believe that financial transparency is the future and that we all benefit when we collectively share our insights and our data. And we don't gate keep this really important information. So this is part of our advocacy work as a media platform that creates content through a financially transparent lens. And I hope it inspires you to be more transparent in whatever way makes sense for you in terms of money conversations. All right, let's get into our q2 2023 numbers.

Ellen Yin

01:23

Welcome to cubicle to CEO the podcast. I'm your host Ellen Yin. I quit my job without a backup plan and bootstrapped my first $300 freelance project into $2 million in revenue by age 28. On the show, you'll hear weekly case study interviews with leading entrepreneurs and CEOs who share one specific strategy that successfully grew their business revenue. Skip the expensive and time consuming learning curve of testing everything yourself by borrowing what actually works from the best and brightest mentors. You'll also get a front row seat to my founders journey through transparent income reports and behind the business solo episodes. Subscribe now so we can grow together every Monday.

Ellen Yin

02:10

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Ellen Yin

03:23

This income report covers the months of April, May and June 2023. And in that 90 day window, our revenue totaled $126,000. I'm going to be rounding up or down to the nearest 1000 by the way, for simplicity's sake. So gross revenue 126,000. Our expenses were $86,000. And then our profit totaled $40,000. So that amounts to a 32% pre tax profit margin. If you've been around for a while, then you already know that as a business, we aim for a 30% pre tax profit margin in order to maintain a financially sustainable business. So we're on target with our profit margins, which is great for this quarter.

Ellen Yin

04:14

You'll notice that revenue dipped by quite a bit compared to q1 that can be mostly explained by quarter one from the end of last year from 2022. We had kind of front loaded all of these partnership contracts that were coming due for payment at the beginning of the year. And we had a ton of larger partnerships, some of them extending throughout the entire year that were signed in that first quarter. So we got a bulk of the payout in the first quarter. So hence why in q2, we're not seeing as high of gross revenue, but our percentage profit margin, like I said, is still doing what it should be for the targets that we want. Although it is again are worse than q1. So a lots happened over the last 90 days. And it's interesting because since we started doing bonus episodes this year, I feel like I've gotten to get more intimate with the Behind the Business Insights on a more regular basis with you all. So some of these things you may have already been aware of, or looped in on if you've been listening to every single bonus episode throughout this year. But I did want to still go over the highlights of quarter two, and the big events that happened that you should be aware of to have some context as we're looking at these numbers.

Ellen Yin

05:34

So first off, what I feel like really defines this last quarter was the immense number of speaking engagements and the frequency of travel that was happening. These past three months, we I mean, we've been everywhere, we've been to Austin, twice, actually, we traveled to Washington to California, all over the state of Oregon. And in total, I think I did about seven speaking engagements during these three months. So my schedule was very full, as you can imagine. And I mean, there were so many great events, but I feel like the one that really stands out to me from all of the events that I got to take part of was Kajabi Hero Live in Austin, that was at the very end of May. And I had the immense privilege and honor of emceeing the entire conference, which was such a cool opportunity, I have never emceed an event of that scale before. And it really allowed me to shine in my favorite type of work, which is, I don't know, I just I love being able to essentially kind of act as a guide for an event. And I feel like that's what a host or an emcee is, I love getting to be in the energy of the crowd and, and help keep you know, things moving along throughout the day and make our speakers backstage feel welcome. And it was just such a wonderful opportunity. And I'm so grateful to team Kajabi, for thinking of me for that role and allowing me to just have so much fun with it.

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