December was full of reflection, relaxation and celebration! 

 

We are covering a lot in this income report!  From how our Beta to Biggie launch went, to how I celebrated my million dollar year. I will be talking about what my big goals are going forward and more, so get ready for a jam-packed episode.

 

I hope this episode will inspire you to step into the new year with big goals for your business and your life. 2020 was not an easy year for many people, but I hope you find that you were able to learn and grow from it just like I did.

Value Bombs:

 

  • What holes I found in some of our processes
  • Ways I found we could be more proficient
  • A behind-the-scenes Beta to Biggie launch recap
  • What we offered our membership students
  • The vacation I took to celebrate the year
  • My personal and professional goals for 2021

 

What lessons do you want to take from 2020 and bring into the new year? What goes did you set for your life and business? Let me know over on Instagram @brandimowles. I can cheer you on in the DMs!

Here’s to a fulfilling and happy 2021!

 

Don’t forget, if you are interested in creating a second stream of revenue in your service-based business, visit www.betatobiggie.com to apply to watch our training!

 

Resources Mentioned: 

Episode 72: November Income report

Episode 74: 10 Lessons I Learned Scaling to $1 Million

Beta to Biggie Application

  

Additional Resources:

Subscribe to the Podcast

Follow Brandi on Instagram 

Follow Brandi on Facebook

Listener Spotlight

Read Full Transcript

Brandi Mowles: December's income report. It's the end of the year, we are wrapping up the million dollars and this month was full of action and relaxation. So if you're ready to hear the lessons I learned and the things that we did and let's not forget the amount of money we generated in December 2020, then let's jump on it.

Welcome to the Serve Scale Soar podcast, the podcast dedicated to helping service-based entrepreneurs scale their online business to five figure months so they can soar into six figure years. Your host Brandi is a wife, mom and in less than one year created a six figure business and now she is spilling all her secrets. So you can too.

Brandi Mowles: Ok, so before we jump into this month's income report, which was I'm super excited about this, like this was a good we did a lot, but also it's all the things that we learned along the way that I really want to share with you. So, as always, we'll save the numbers for the end. But I did want to read one of our spotlit listeners' reviews. This one comes from Sparkle Marketer. And so this one, five stars, tons of value. Brandi offers so much value and spunk in every episode. You can tell she loves what she does and wants her listeners to feel the same and Sparkle Marketer you are one hundred percent correct. I want all of you to love your business, love what you do, and be excited about what you're doing and the impact you're having on the world. And so thank you so much for that review. If you get a value and tons of information out of this podcast, you haven't left us an honest review yet. I would just ask you, can you leave us a review on Apple podcast?

Brandi Mowles: It makes everything run very smoothly. My podcast manager loves when she sees them come through, and I read every single one of them. So if you could just take two minutes to leave us an honest review, it would be so appreciated. And you could be one of our next spotlight listeners. OK, so let's jump into this month's income report. And so we'll save the fun numbers for the end. And these are some big numbers. Also, I love sharing, OK, but I want to talk about what happened. So it was December. We had already crossed the million dollar mark. So if you haven't listened to November's income report, make sure to go back and listen to that one. That's the one that I really talk about what it felt like to finish up a million. And we'll link that in the show notes and then check out our other podcast episode where I went over the ten lessons growing to a million dollars. There's so many gold nuggets in there. I've never got so many DMs after an episode, so make sure you check that one out. We'll link that up. So coming into December, it was kind of like a weird thing because we hit our goals. Then I was like, OK, I think I know where we're going to land for the year. And I was happy with that. I was just like on cloud nine, but we had a big launch that was coming up. So in December we launched Beta to biggie accelerator to the email list.

Brandi Mowles: So in November we had done a very, very soft launch of the program just to our mastermind students that wanted to continue with us for another year. But here's what happened. We did that and there was no training. They just were like, yeah, Brandi, let's do the dang thing work in. Well, in December, I was doing a training that I'd never done before, and I've never been so excited about a training. Like I love giving value. But this training was a whole another thing. It was so jam-packed with so much amazing information. Everyone was DMing me afterwards saying like, oh my gosh, best training you've ever done. And these are people who've been through all my trainings. And so leading up to this, I was super excited and super nervous. So if you've ever put out a training, you're probably like, oh my gosh, I get so nervous, no one else probably gets nervous. And I'm here to tell you, I do a lot of training. So I'm on camera a lot throughout the month and every week I'm on camera a lot. And I still got nervous because here's the deal. When you care about something so much and you want it to be beneficial to other people, you're going to be nervous and that's normal. It kind of means that you care. So if you're not nervous, great. But that first time doing it like it means you care.

Brandi Mowles: I still get nervous every time I do that. How to get a consistent ten thousand months and I get nervous. I send just a text every time before we do it. I'm like, oh my gosh, I'm going to throw up like it's still happened. And I've, I could do that training in my sleep. And it's because when I do it recorded, I'm not nervous, I'm just recording like but when I do it live, there are people showing up their live to get so much value. And I want to make sure that I'm always providing value and showing up in a way that over delivers. And so I get nervous. And this training was no different. In the first time you do something, you're even more nervous. And so what happened, though, is I got in this training and I started seeing everyone in the chat be like, oh, my gosh, this is me, this is me, this is me. And I just started like I was in my element. And so much value came from that training. It was so good. And people really got to see where they wanted their business to go and the possibilities and how that didn't have to look like an overwhelming experience and how we weren't promising one hundred and thirty days or ninety days. But we were talking about creating a business that's sustainable and profitable and not some get rich quick scheme. And it was such an amazing training and I would do that training every single month live like that's how much I love doing that training.

Brandi Mowles: So we launched Beta to Beggie to our audience and we welcomed 16 Amazing Woman to the program. And I was so excited because we had our previous one and now we're like in the thick of it. We're helping people launch their babies. People are launching their babies. So it's been so fun. And this program is just something that truly, truly lights me up and I can't wait to share it with the world, so beta to biggie launch happen. It was not like your big launch because there is an application process. So we're not like promoting it everywhere. We sent out a few emails. If you get your application approved, then you get to watch the training and then we usually chat a little bit in the DMs. So love this launch. I got to chat with so many people in the DMs, no matter if they joined or they didn't join. I just love connecting with y'all. I love connecting with my audience. I love seeing where you're at of your business. I love chatting with you. So I love the conversations that happen in the D.M. But I will be honest, it was a lot of DM's and there got to a point where I was like, holy bananas. Like I need someone to take over the rest of my business so I can just be in the DMs chatting with y'all.

Brandi Mowles: So it was I mean, we had like two hundred people that applied one hundred and 13 people that were approved. And then I was really in the dorms with about 60 people consistently. And I just love chatting. But like I said, the rest of my business kind of took a back seat and this is when I started to see some holes in our business. So I'm always telling you I pride myself on the fact that we have a super efficient team. Our business runs really well. But during this process, I found a lot of holes. And I talk about this also in Serve Scale Soar like when you go out of town, if you take a break, it's like you get into this situations and that's when you find the holes in your business. And it doesn't mean that your business is broke. It just means there are some holes that we need to fix. And during this Beta to Biggie launch, our systems on the back end ran amazing for Beta to Biggie. But I found some holes that were happening in other places, ways that we could improve, ways we can get more efficient. And there was some holes and not the onboarding, but the DMing situation, like I was trying to keep up with who I was chatting to and everything, and it just got a lot. We didn't have a system in place for that.

Brandi Mowles: And so this is always a great time to step back and reflect on how can we improve the systems we have. And that's exactly what we're doing in February, is a full system overhaul, not overhaul, but at least a full system audit with SOPs created behind it. OK, so better to be longe. So much fun. Love our new members. We are rocking it out. I do one on one clarity calls with every single one of them and I love it like I love those one-on-one calls because you get so much clarity about where your course is going, where your business is going, and everyone tells me that I need to delegate this out to someone else.

Brandi Mowles: And I'm like, no way like that was the plan maybe will happen next year or something. But I just thrive getting to know my better students and seeing where they're at and helping them get clarity. So right now that is one hundred percent something I'm still going to do. That is not something that we are going to delegate out. I love that so much. So there's been a debate experience has been I haven't been so excited about something since I first launched Serve Scale Soar and I love my Serve Scale Soar, but like to be just fills my heart in a whole new way. And I cannot wait to see the impact we have this year with this program. OK, so the second thing that we really did in December was this is the first time I've done this and I've only had this my second year having a program, but we didn't do it last year. We're doing it this year is that we offered a like our students who are on payment plans for the membership over the course. We sent them an email and said that if they upgrade it or if they went on and paid off the remaining balance, then we would give them the pay-in-ful bonuses and we also gave them the lower rate.

Brandi Mowles: So if they paid for conversions for clients, if they were on the payment plan, then that ends up being like $2200 I think. But if you pay in full it's $1997. So what we did is we sent out an email and said they had till December 18th and if they wanted to go in and pay off their payments they could and they'd get a discount, but they'd also be able to get any of the painful bonuses. And we said like talk to your tax accountant, it may be beneficial for you. It may not be beneficial for you, but we put that out there for people to pay off theirs. And we had so many people that we're so excited to get a discount because they could go in and pay off their balance to get those extra bonuses. And it was something that I got an email from my mentors and I was like, oh, this is a good idea to let people have that option so they can start the new year without payments and things like that. And if it helps them on tax is great. But we made sure to put a disclosure like this is not tax advice. Talk to your tax accountant. Y'all know me. And like, I love to give disclosure. I'm not an attorney. I'm not an accountant. I'm not a bookkeeper. So we did put that disclosure in there. And it really helped a lot of people. We got so much great feedback from having that offer out there. So that is definitely something that we will be doing every single year. So then what happened is so I took off from Christmas' eve until January 4th, there's more than a week, it's almost two weeks and I completely checked out and it was so refreshing, it was so nice. After my husband's birthday is two days after Christmas, and I wanted to really celebrate him and how much he does for our family. But I also wanted to celebrate a million dollars a year. So we were talking and our parents are so excited that we live in North Carolina now, so close to them. And they this is a great time for them to try because they're off for Christmas, then they're off New Year's Eve, New Year's Day. And Austin's mom's a teacher, so she's off that whole week. So we're thinking like, oh, we could do it, get away with just the two of us and really be able to celebrate 2020 in the year and be grateful for all the things that happen and really reflect on the places that we needed to grow. And because, you know, here's the deal. 2020 was great business year, but it definitely took a personal toll on my husband and I and my daughter. We are people who like to go. We don't like to be like trapped. And so for me, it was really like not being able to connect with people in that live aspect. That was a real struggle for me. Also, we didn't get to travel as much. We did do some traveling, but definitely not as much as we're used to. And there was just a lot of changes in our life. We had we moved to North Carolina. We struggled like my grandfather passed away. So there was a lot of stuff that as a married couple we dealt with this year, that was just a struggle.

Brandi Mowles: So this is where I want you all to think like just because everything looks like rainbow and butterflies on the outside for people, that's not always what's going on. And so we are so grateful for one another. And but we knew that we needed to get away. We needed some just us time to refresh and get ready for the new year. So we went up to Virginia for Christmas and then Christmas, the day after Christmas, we got on a plane and we flew into Vegas. We spent 24 hours in Vegas very quickly. Gambling is not my thing. We did. They were still doing like super intimate food tours. So we did the mask and we were super safe. They the tour was amazing. They kept us at our own tables and we got you know, it's really hard right now. I think Vegas is at 25 percent occupancy. So since we booked through this food tour, we got seated right away. We didn't have to wait and we got to go to four of the best restaurants in Vegas. And it was so fine. My husband's such a foodie, I'm such a foodie. And so it was and they did such a great job with just being super protective, six feet, distance mask, all that kind of stuff. And so we had such a great time. That's pretty much all we did in Vegas was go on this food tour. We stayed at the Bellagio. So from our room we could see the fountains and everything. It was so cool.

Brandi Mowles: I think that I would go back to Vegas after covid when we could do like buffets and stuff like that. Gambling is not my thing, but I would love to go back and see a show and really explore all the resorts and things like that. But then the real part of this is we flew into Vegas because I never been. But then also we wanted to drive to Sedona so you can either fly into Phoenix. That's usually what most people do doing. It's about two hour drive to Sedona. So we knew we were going to have to drive regardless. And so I booked us to Vegas and it's a four hour drive and we were going to top of the Grand Canyon and stuff and that didn't happen. But the funny thing is my husband has never flown first class and I've only done it for business. And when I had points and stuff and I'd only done it like four times before this, but the business is always paid for it. So I was like, oh my gosh, I just want to spoil my husband so much because he's so amazing. And so I booked us first class and I was thinking it was going to be like and this was flying from Charlotte to Vegas. So it's like a five hour flight. So the funny thing is, I thought I was going to be like your normal first class for you.

Brandi Mowles: Come on the plane, you're the first section. You have pretty normal seats, but a little way more comfortable. And they're still doing food and drink service for first class. Where are the rest of the flight? They're not. And I was like, oh, my gosh, for this long flight, we're going to have to have this because I get super antsy about the three hour mark. I just need to get up and move and stuff like that. Well, we get on the plane and they tell us, oh, you go this way. And we were like, wait, what? So we weren't going the way that everyone else was. We were on this first class plane where you had, like your own cubicle, your seat laid down the whole way. The TV, like, pulled out. I mean, it was so crazy. And my husband are beside each other, but we had a wall that you could put up or down into like, you know, and I think these are the first class flights that they do for, like overseas. And my husband was like, this is how you fly first class. And I was like, no, no, no, do not used to this. I've never flown first class like this. And it was seriously we were cracking up. We were like, this is the best thing ever. It was just such a fun experience. And he was totally spoiled because of our way back.

Brandi Mowles: We did first class, but. United instead of American, it was like your normal first class and I will say that, like, United is not my favorite airline to fly with, but their first class was like even Janki compared to American Airlines regular first class. And he was like, this is the best experience. And it was so fun to be able to give that gift to him because he looked like a kid in a candy store. But I did, too. We were like, this is bananas. And then you got to Nyman's. And he was like, Oh, this is definitely not as nice. And I was like, oh my gosh, you're totally spoiled flying now. Like, you're never going to want to fly any other way. So it's just such a fun experience. And then we went down to Sedona, so we flew into Vegas, drove down to Sedona, and we just really wanted to get away. And that's why we picked Sedona, because it's you're out in the middle of the desert. You are secluded. We could do hiking. We wanted to do like dune buggies and things like that. So we were really excited to go to Sedona. We had never been I was telling my best friend Emily, she's been on the podcast about how we were going and her and her husband joined us and we stayed at Enchantment and it was really, really cool.

Brandi Mowles: But the best part is like we just had a different vibe in Sedona. And it was I came back from Sedona feeling so peaceful, like just at peace with everything. And I don't do the words and all that stuff. But if I had to come back with a word, I feel like it would be peaceful for 2021, like just peace. And I came back with a whole new outlook on just how to, like, live my day to day. I did some meditation. We went to the crystal shops. We tried new things that I never thought we would do, like my husband and I had a tarot card reading, which was super crazy, like I was my mind was blown. My husband still like that was weird, like weird in a good way. Weird. Like, it was just so different for us. And we just got to connect on a different level. Him and Brian went and did dune buggies one day and had so much fun I relaxed, which is not something that I'm very good at. Like I'm not someone who's like, let's go to the spa. Like that is usually not my default. I'm like, can we go like do something? Like usually I'm the one on the dune buggies, not at the spa, but I wanted him to have some, like, bro time.

Brandi Mowles: So he went out with Brian and they had so much fun on the dune buggies and I went and had a energy clearing and all. It was therapy. Like I cried for an hour and a half, pretty much dealt with everything that I had been dealing with and came out like a whole new person, like they did. It was a massage. We did like our intentions. We burned them. We like smudge like super well, not normally something that I would be doing. And it was I just came out feeling like a totally different person. And then I also had aromatherapy treatment and it was good for me to relax because I am not the best at relaxing. Like relaxing to me is like going for a three mile hike or playing Call of duty or something like that.

Brandi Mowles: Like I'm just not good at the traditional ways to relax. And so it was very eye opening for me because there was a lot of quiet, like just being with yourself and being quiet. And I think I needed that. And I do journal and I do meditate. But the thing is, there's always noise here. Like, it's different when you're in your house in Sedona really helped me open my eyes to what I wanted out of my life, what I wanted out of the business, what kind of mother I wanted to be. So it was such an amazing experience. Austin I did some hiking. We saw some of the most amazing views, like we were in the vortex. And so we learned a lot of history, which I always appreciate. We had so much fun and we are so glad to do that with also our best friends, Emily and Brian. And I know that they needed that time to to really reflect on theirs. And they came out of Sedona in such a different place as well. And so I would highly encourage you to go to Sedona if you have a chance. You're in the middle of the desert and it is just such a magical place. Got a different feeling to it when you go. It's kind of eerie that you can go somewhere and it just feels different. And so I we really enjoyed that. And I one hundred percent know that I needed it. But I also know that it felt really good to check out of the business and not check out in a way, but step away and really be able to see the bigger picture, because when we're in it, it's really hard to see and not to have my mind on business the whole time.

Brandi Mowles: That's the thing. Like my goal was to go out there and really get clarity on where I wanted. And honestly, I didn't think about the business very much at all. There was probably one day that I really spent some time reflecting on the business, but it was all about growing as a person and my family, because I know when I can grow as a person, the business will grow. I'll be able to impact more people. And that's been the biggest gift over 2020 is I grew a lot in 2020. I always tell my husband I feel like 2020 made me become an adult and I'm so grateful for that. But I. One hundred percent start taking off that time every single year till my husband, I think that that's the smartest thing for us to do from a personal standpoint and a business standpoint is that Christmas Eve till the new year is like completely checking out, going somewhere. Maybe, maybe it's staying home, but not being in the business. And my team had off the holidays, so Christmas Eve, Christmas Day. And then they had that weekend off, of course, because we don't work weekends and then New Year's Eve, New Year's Day and then that weekend leading up. And I would love to get our business to a point where they can also take off the full 14 days or 10 days or whatever it is. And our office is completely closed. So that's something we'll be working on this year for sure. OK, so then everyone has been asking me what my goals are for 2021.

Brandi Mowles: And it's so funny because last year I was so vocal. But this year just makes me feel knackered when people ask and I'm just like it has been one of those weird things and I really reflected on this. We got back. I've been journaling a lot. And so here's the deal. My goals are not for the business. I'll tell you my next business goal. It is not necessarily going to happen this year. Like, I honestly don't know if it will, and that's OK. But my next business goal is to hit the business to do one million in profit for 12 months. So for a full calendar year.

Brandi Mowles: So that would mean this year if we did two million in cash flow in the bank. So actual revenue, then we ran at 50 percent profit, a million dollars in the bank. So that would be the goal. But I also know that we need more help, like our team needs way more help. As I'm recording this, we have three contractors on the team. We have staff who is our podcast manager. We have Chelsea, who's our graphic designer, and we have Janessa, which really is our customer support. She's the backbone of our programs. She make sure that payment recovery, customer support in the inboxes. She also make sure all the programs have everything they need, everything scheduled and ad event so all of our students can easily access everything we're doing. She schedules all the stuff and Zoom and she's launch support. So Janez is like my right-hand person. She is the backbone to this business. And then there's me. So there's like four of us running this million dollar business and two of them are only with us for a little bit of time each month. So Stephanie with just the podcast and Chelsea with just the graphics. So when we look at it from a business standpoint, it's only me. Engineers are doing pretty much ninety percent of all the work, and that is a lot on her. That's a lot on me. So what we really need is if we want to grow this to two million and beyond, then we really need team support. So that is something that we're actively working on to make sure that, you know, I know that we need a team, but I'm not just jumping into hiring a team.

Brandi Mowles: I'm going through a program that helps you decide who you need, how to hire them, who's the right fit, because if I'm going to do this, I want to do it the right way. So with my goals, my next business goal is to have a million dollar profit for a calendar year. And so that may happen this year. It may not happen this year, maybe next. I don't want to put a time limit on this because I want to do it the right way. And so that is the next business goal. Now, for 2021, we have more impact goals than revenue goals. And so our impact goal is to help one hundred and fifty people start a second stream of revenue and their service based business. And so our big focus this year will be on Serve Scale Soar and Beta to Biggie because Beta to Biggie helping those service providers pretty much pandemic proof their business. Because here's what I know. A lot of people in 2020 lost a lot of clients and their only revenue stream was coming from their services. But if they would have had a second revenue stream, either of course our membership or something like that, they would have kind of pandemic proof their business. Because here's what I know, of course, creators and membership creators, their sales skyrocketed this year across the board because what happened is more and more people are coming online. More and more people are working from home. More and more people are looking to have something that's also pandemic proofing their lives.

Brandi Mowles: And so our goal is to help one hundred and fifty people create a second stream of revenue and launch it four times over the next 12 months. So that's our impact goal. And that's what I'm really excited about, is seeing other people create a pandemic for business. And this really, really just this has been on my heart since I started seeing people lose their clients and stuff is how can we have a business with multiple revenue streams? And that's what I want to ask you. If you lost all your clients today, where would your business be? And so this is where my impact goal is, is I want to help one 150 people create a second revenue stream that is profitable and sustainable. So this is not about one hundred and ninety days. This is about creating a business that's going to last you year after year after year and grow in, that's profitable and sustainable with your business, your life, all of that, and so that's what we're doing inside beta to biggie. So that's my one impactful. My second impact goal is to be able to donate as much as possible to village impact. So our full goal, I will be honest, is one hundred thousand dollars for this year. I want to be able to donate one hundred thousand dollars to Village Impact. And I know that the more people we impact in our program Serve Scale Soar and beta to biggie that the more impact we can have on village impact.

Brandi Mowles: And so these are my two goals this year. They're really not revenue driven and their impact-driven because that's just where I'm at in my business. My husband and I live very comfortably and Reiley we have everything we need. And now, like, how can we help other people and how can we get them to a place where they can help other people that don't have everything that they need. And so that's where we're at right now with the goals. I know they're not like sexy revenue goals and maybe we will hit the million dollar profit in the business and do like around two million. But I also know this is going to be a year of really structuring the business to be able to continue to run year after year after year with growth. And we're going to have to hire some people so our profit margins may go down a little. And that's OK, because I know that once we get the right people in the right seats, then our revenue will go up. That's what should happen when you hire people. That's why we're taking this slow and doing it the right way. So that's kind of the goals for 2021. So how will that affect the income reports, y'all? I'm sorry. I was going to discontinue these and then everyone was like, no, no, no, we want these. So I'm still going to give you the goals. We won't be focused on revenue generated.

Brandi Mowles: I'll talk about the actual cash flow that's coming in through the bank. We'll actually talk about real numbers, not revenue generated. When we have launches. I'll go over what we did generate, but I really am going to focus on profitability. So each month I will tell you what our expenses were. I'm going to tell you what we brought in. And then are we on goal for fifty percent profitability and how many lives are we impacting through our programs? So that's really where it's going to be. And then, of course, I'm going to take you behind the scenes as we go through this whole year of hiring people.

Brandi Mowles: What I'm learning in that process and what that looks like. So and also we have launches. So what is our business look like? We'll be talking all about that. So this is something that I still want to give you the behind the scenes look. The numbers will be changing a little bit. And as we bring on employees and things like I'm not going to be able to talk about how much money completely everyone's making and things like that because of privacy reasons. But I will give you as many numbers as we can and I will always be as transparent as possible. So that's December. It was a whirlwind of a month. It was so fun. It was relaxing. And I want more months to be like that. So let's talk about the numbers now.

Brandi Mowles: Total cash flow in was $96,000. Just to put this in perspective, you need to run it about eighty three thousand dollars per month cash flow in order to hit a million dollars a year. So I always like to talk about like six figure gear. You need eighty four hundred four million dollars a year. You need to bring in eighty three thousand per month for six figure years.

Brandi Mowles: Eighty four hundred a month. So that was our cash flow. Ninety six thousand in revenue generated. So this is the money that projecting after people's payments was one hundred and fifty six thousand one oh one. So really good numbers, super happy with these. And then our expenses cost of services was twelve hundred.

Brandi Mowles: Most of this was all from Beta to Biggie. Everyone that joins us, they receive a box. And so and it also included affiliate costs. So that's cost of services. But the boxes I love sending and I love when y'all posts on Instagram and stuff, but our beta to biggie students get like these beautiful boxes sent to them. The team cost was fourteen thousand eight hundred and sixty seven. That's including my W2 pay. So like how my business pays me a paycheck that was included in there. One of the things we did invest in in December was for one of my copywriters, Erica, to do a brand or a voice guide. So when we bring in a content manager, because that's one of the people we're going to hire, they know my voice. So Erika is working on that for us now. And that was one of the investments that we don't usually have ongoing. But I'm excited to get that back. I'm excited to see how that helps the content manager. I've never used one of these, so it'll be fun to see how that works. We only spent two hundred and twelve dollars on Facebook ads. I did spend six hundred and thirty six dollars on supplies like office supplies. Most of this was for my studio. So we're building right now most of my life when I record and all that is on a PC because you just get more bang for your buck, they run better.

Brandi Mowles: But I really love and miss working on my Mac. So we set up a second studio, that's all Mac-based. And then we have the one the. I'll do all my streaming and stuff, which is PC based, and then software was more expensive because we had some yearly costs come out, which was two thousand seven hundred sixty two for software. Software is usually that, not that much. But we use Searchie and all of our programs so that our students can search anything that they're looking for. And as podcast guest, if you go to Serve Scale Soar.com and you go over to the podcast page, if you scroll down to the bottom, it says search for podcasts. You can actually type in any word I say and see our whole database of all of our podcast episodes. So we pay for Searchie that came up. It was fourteen hundred dollars for the year. So the majority of the software was paying for Searchie for the year and then it also invested in Ecamm, which is how you get all the fancy stuff when you're streaming. But that's specifically for Max on my PC. I use VMAX. People always ask what we use for all the fun stuff that we do with videos and that's the software that we use.

Brandi Mowles: OK, so then education was really expensive, so education was twenty six thousand dollars. I invested into like two things. One was a program to help us run like clockwork with Adrian in there and Mike, which Mike is the one that did Profit First. Adrian Pocho, great run like clockwork, the book. So I'm going through their program, which is a 12 month program to really get our team set up the way it needs to be set up. And then I also joined a mastermind, so was Stu McLaren. And so I'm in his mastermind's. So I paid for both of those products in full. So that's where most of the education came from, at twenty six thousand and then merchant fees. This number goes up every month and I'm so grateful for that. But it also sucks is three thousand. So that's how much like Stripe and PayPal and stuff take out and fees. So we're at three thousand and then so my expenses were forty eight thousand six hundred and ninety four. It was right at fifty percent for cash flow that came in. So that's super exciting. That's what we're going to be talking about, the running at that fifty percent profitability. And then our goal is really to keep our eye on that. That's what my bookkeeper knows. My account knows that we're really going to make sure that we're running at 50 percent profitability.

Brandi Mowles: For 2020, we ran at 56 percent profitability. So super, super happy with that. I know it's going to go down a little bit and that's OK. But we want to try to keep as close to 50 percent as possible with our margins. So all that was December's income report. So much information, so much juiciness. I hope you were able to learn some things, whether it's to create a second stream of revenue and pandemic proof your business. Or maybe it was that you need to take a week off at the end of the year. How can you make that happen? Start planning for it. Now, these things take time or maybe you just need some reflection. And so whatever you took away from this, I hope it helps. You will continue the income reports. And if you are interested in creating a second stream of revenue in your business, head to Betatobiggie.com, we'll link it up. And you can apply to watch our training. So the training is prerecorded. We'll just send you the recording. You can watch it on your own time and see if creating a second stream of revenue with of course, our membership is right for you in 2021. And remember, we're looking to impact one hundred and fifty lives this year and village impact.

Brandi Mowles: That is our big, big goals. And if you're like how can I support in any way whether it's beta to biggie or village impact, DMAE, let's collaborate, let's think of ideas to make a bigger impact on this world. So y'all here's to 2021. I'm excited for what's to come. I know if we can make it through 2020 we can make it through twenty twenty one and not just make it but thrive. And so go out this week, serve your client, scale your business and soar into the six figure year you deserve.

Thanks again for tuning in to the Serve Scale Soar podcast with your host Brandi. If you loved our podcast, please be sure to leave a comment or review and be sure to tune in next time.

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Meet Brandi

Brandi Mowles is the host of the Serve Scale Soar podcast which is a podcast dedicated to helping service-based entrepreneurs scale their online business to five-figure months so they can soar into six-figure years. Brandi is a wife, mom and in less than one year, created a six-figure business.   Now she is spilling all her secrets so you can too.

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