Day 28 – Financials… The Income vs Expenses chart
I’m starting the beginnings of my data analysis for 2019 and this surprised me… this year my expenses were up and my income was down. This surprised me for a couple of reasons.
First, I traveled SO MUCH this year that in my mind the income had to be greater than before. I mean, when you do over 50K miles in travel and 122 days on the road, the income should be amazing, right?
Second, I really felt that this was an up year. It’s not that it is a bad year, but comparative to last year, it’s down.
Here’s a look at why the year was down. While I booked more workshops at shows, the sales AT those workshops were down. My sales to distributors was down and flat (again). Freelance writing was also way down. Sadly, with the bankruptcy of F+W Media, my royalties on things like my DVD, etc, were also down.
As with any business, it’s good to take in the numbers and not try to get too focused on the “down” part, but to focus on how to make those categories viable again. It’s important to always look for new revenue streams too!