Episode 17: How I Grew My Profit-Margin Over 200% in 2019 + My Audacious Goals for 2020

Season #1 Episode #17

In this solo episode, I review my 2019 goals achieved, share my audacious goals for 2020, and go inside-the-books of my business finances for 2018 versus 2019. (Yep- my real numbers in my business bank account!)

Holistic entrepreneurship means that we bring our WHOLE selves to our businesses. Physical, spiritual, personal, relational, professional, educational goals are ALL relevant to our entrepreneurship. So I’m talking about them all in this episode. :)

2019 GOALS REVIEW:

Physical Goals Met:

Moved everyday! (minus 2 days when I was sick) Back squatted 106#!! :)

Spiritual Goals Met:

Journeying with my faith community, learning from the faiths of others.

Nature Connection Goals Met:

I really made a point of getting outdoors every single week into wild nature. At least once a week I went on a hike for exercise. I feel my body telling me when I need nature now!

Also went on TWO epic backpacking trips to beautiful places:

In April, I went to Havasupai Falls with my daughter for a mother-daughter backpacking trip. It was a highlight of my year. And yes, the water really is that blue! No filter!

The harrowing chains to get down the LOOONG and slippery descent to Mooney Falls. My smile is hiding my terror…or can you tell I’m nervous?!

Then in September: 55 miles in 5 days on the North Lake South Lake loop in the high sierras (John Muir Trail country) with my dear friend, Laura Joyce Davis. I had to control myself to only post 2 photos- seriously the most beautiful backpacking trip ever…and the best company. :)

Ok, back to my goals…

Relational/Family Goals Met:

Finally (after 2 years saving!) went on a “real” family vacation to the Caribbean with my sister and her family. SO fun.

Realized I need to prioritize daily time with family in 2020! (see below)

Business Goals Met:

  • Grew Outdoor Kids OT to one more employee (our first COTA!) and added one group per week for a total of 6 weekly groups going now.

  • Held the first Therapy in the Great Outdoors Training Retreat in November; filled to capacity with a LOOONNG waitlist now for future trainings!

  • Wrote the 100-page ConTiGO (Connection & Transformation in the Great Outdoors) Approach Training Manual for retreat attendees to implement the approach in their own practices.

  • Became more active showing up personally on Instagram and Facebook (but still struggle!)

  • Started the Mind Your OT Business Podcast in March and did 17 episodes this year. Will be outsourcing some editing and publishing in the coming year to save time!

  • Grew my business coaching practice to 5 monthly clients and plan to add 1-2 more in the coming year. 

Educational Goals Met:

  • Took 25 PhD credits. (8 courses…this was too much!)

  • Read A LOT of research about nature and children and OT!

  • Continuing to see the PhD as a process of personal transformation and challenging my brain to think critically.

NOW…MY(SOMEWHAT AUDACIOUS) GOALS FOR 2020:

Physical:

  • Move everyday!

  • Back squat my body weight (~150#)

Spiritual:

  • Read literature from other world religions to inform my own faith and learn from others.

Nature Connection:

  • Solo backpacking trip. (Scared of this!)

  • Backpacking trip to Trinity Alps in Northern CA.

  • Wilderness Awareness course in Washington in April.

Relational:

  • Continue weekly breakfast date with Jose.

  • Make 1:1 time for family; BE AWARE OF WHEN WORK IS TAKING OVER! (this is very important for me cause I love my work)

Business:

Educational

  • Pass my qualifying exams in October of 2020.

  • Start pilot research in spring 2020 with OTD students.

  • Write article on nature-based therapy for publication.

  • Present posters at AOTA. Come find me there and introduce yourself!

AND NOW THE PART YOU’VE ALL BEEN WAITING FOR……BUSINESS FINANCES 2018 VS. 2019…AND MY 2020 INCOME GOALS!

Be aware of the accrual vs. the cash-based method of accounting in your business books! I use cash-based. (listen to the longer story in the podcast)

All amounts have been averaged for ease of reporting.

2018: Gross revenue $82,000 - NET revenue $5,000 (6% of gross revenue)

My income 2018 (working very part-time while doing my PhD + teaching): $17,000 pay + $2000 profit first bonus = $19,000

Started using Profit First and You Need a Budget (ynab.com) in mid-2018, which made my income double in 2019…see numbers below!

2019: Gross revenue $161,000 - NET revenue $32,000 (20% of gross revenue)

THIS IS WHAT LOOKING AT YOUR NUMBERS CAN DO FOR YOUR BUSINESS! Almost double your income and increase profit by OVER 200% (12% profit would have been double- a 100% increase, 18% triple- a 200% increase…but we made it to 20%)!

My income 2019 (working part-time still doing PhD and teaching): $24,000 pay + $8000 profit first bonus = $32,000

My audacious income goal next year: $75,000 working part-time 20 hours per week and $200,000 gross revenue for the business.

Here’s how we’ll do it:

  • Keep doing groups at current rates.

  • More business coaching.

  • 2 more retreats (maybe 3!)

  • Income from the online course.