Today’s video is about 30 minutes long. I know, that’s long. But it is difficult to share all the info with you in a short snippet.
All of my income and expenses for the month of February are revealed in the video.
There are some important things to remember:
+ I have been a demonstrator going on 9 years, so the info I am sharing is tried and true.
+ My income fluctuates greatly, so be sure to continue following to see the difference each month
+ Ask me questions. If you have a question about something I have shared, ask. I am happy to share.
+ Remember that the expenses for running an online business are very different than running an in person or face to face business
+ Not all businesses are created equally. Meaning, a lot of expenses are a choice.
+ You can purchase the Business Budget Workbook from me by clicking HERE.
I also have another free download for you today!
We won’t go over this one until next week. But I wanted you to have it so you could do it with me when the time comes.
Get your New Catalog Ordering Budget Fun Sheet today! CLICK HERE
You can watch today’s video here.
I’m not gonna lie, I am super nervous about this video. Sharing all these details makes me feel super vulnerable. However, I know that this is a struggle for so many people because it was for me.
I hope this helps you too.
It is ok to earn money AND do what you love. I promise.
If you purchase the workbook there are free updates for life.
DISCLAIMER: I am not a finance expert, advisor or tax expert. I simply have created a system for tracking my income and spending with my business and am excited to share that process with you. Please seek professional advice for any tax or accounting matters.
This blog post includes affiliate links. This means I might earn a commission when you click on the links, but there is no additional cost to you. No one has paid me to use specific products, I share what I love and hope you enjoy.
Hi Wendy,
A gracious comment, I like your class already, you are informative and thorough.
Questions: As you were going over the instant income you didn’t include the tax and shipping, or is it included? This would affect the expense.. The instant income maybe a hypothetical number, or factual,, does it always fluctuate? (i’m sure that these numbers are never the sane, so how can you plan ahead?
I noticed is, for instant, Your GoDaddy and Vimeo expenses, both said annual amounts next to them, is this the actual monthly
expense. for each, or can this be broken down to be spread over 12 months?
How would one collect a monthly bonus ?
You also had SU Blog on your expense side, is this done through Stampin’ Up!?
Can we use tax write offs in a direct sales business during annual taxes, or are these paid quarterly?
What type of Avery labels were used to print out your labels for the envelopes?
t am now a hobbyist and want to turn from hobbyist to business demo, and I realize that this requires 1 recruit. (now would be a great time to find a recruit(s-during SAB). This is a 2 part question: where do you find recruits and what is your approach for finding interested people wanting to join? (I did have someone that did say yes, but then turned it into a no. I could try to talk to her until I’m blue in the face.) Does it take this much trying to convince (not really the write word, but I will go with it) someone what a wonderful company SU is and the great opportunities they offer. Any advice that you can give me? I can deal with receiving a no, and I can be a persistent bugger. I guess some people are just afraid of taking that plunge. (wasn’t she supposed to say no first, then a yes? It has me confused??? She did ask if money can be made through SU? I said Yes, absolutely! Again confused here.
Last question: how can I expand and broaden my customer base?
Thank you for your time.
Thank you for the reality check on the income and expenses of a Stampin’ Up! business. This video was VERY helpful!
Wendy, I am glad you explained your business. It helps me understand if I want to do the business side of stampin up
Thank you for tackling the difficult topic of finances. This is one area that no one seems to want to talk about, but that everyone needs to understand. As a second year demonstrator, I am anxious to learn how to be “smart” in running my business.. I hope that you’ll also cover some basic info for tax purposes. Thank you again, Wendy.
I really appreciate your willingness to share this information and your tracking process with us. I am looking forward to learning a little bit more every week. Thank you so much!
This certainly opened my eyes…I have to say…the paperwork part of this business…not my forte’….however, I purchased the workbook and I’m excited on getting organized for the year 2019…it’s a late start…but best late than never!
Thank you Wendy for deciding to let it all out in the open….truly an eye opener!
Susan
Wendy,
I loved that you talked about this topic, this is one reason I have been holding back from moving from hobbies to demo. The information you provider is very valuable and I thank you so much for sharing it. I would love to hear you thoughts on starting the business and not going into debt. I have my kit and I have ordered some supplies but I am nervous about holding a class with only what I have and not buying product out of my own account. Can you talk about this topic? Thanks again for sharing
Kandee Swift
Great video! You gave a shout out to Budget Mom. The author of that blog is my husband’s executive assistant so I shared your video with her too.
I love her. I use her work book for my personal business and she totally inspired the workbook I am doing for demos. What a small world!!! She’s so cool. 🙂
Wendy – thank you for sharing this in such understandable terms. I stumbled on your video during a night of insomnia. I’ve now looked at the other two. You are providing a service that is desperately needed if you’re serious about doing SU as a business!