Financial Breakdown of our Purposeful Business Course Launch
We thought it would be fun to do our first profit breakdown report! As you know, here at Pursuing HER Purpose we truly value transparency. We want to show you the under-the-hood view of what’s going on in our business, so you can see opportunities where you can make revenue in your business and also understand the inner workings of an online business.
We’ll give you a full run-through of what happened during our Purposeful Business Course Launch this spring, but let’s jump to the good stuff:
April 2022 Revenue:
Planners: $75
Affiliate: $50
Podcast Ads: $280
Online Courses: $26,236.36*
*This amount is what we received in our bank. Stripe (our payment processor) takes a fee per transaction AND some people purchased with payment plans, so since April, we have collected about $5000-$6000 more than this.
TOTAL APRIL REVENUE: $26,641.36
Expenses:
Wondershare $10
Teachable $99
Canva: $20
Planoly: $20
Buzzsprout: $12
Virtual Assistant: $1,000
Samcart: $79
Squarespace: $23
Calendly: $40
Boxes for our students: $1,600
Podcast Editor: $667
TOTAL APRIL EXPENSES: $3,570.00
April 2022 Profit: $23,171.36 (Revenue - Expenses)
April 2022 Profit Margin: 87% (Profit / Revenue)
Most of the month of April 2022 was devoted to launching our signature program, Purposeful Business Course. We share a full recap of what happened during this launch (the wins, the challenges, etc) in Episode #46 which you can listen to HERE.
Because we launched, we had a nice profit injection into the business, which helps cover the “slower” months where we didn’t have a main revenue generating activity happening.
Our goal for this launch was to at a minimum hit the same amount of people who purchased the course for a steep discount when we beta launched in January, and spoiler alert, we did it! We actually exceeded that goal slightly which was exciting!
What’s interesting about this report?
One of the best things about running an online business is that there can be incredibly high profit margins. For comparison, a typical restaurant business has profit margins between 3-5%, while a typically “healthy” online business should be around 70% of higher (with majority of their expenses going to pay their team). Right now our team is relatively small – the 3 of us, a podcast editor and a virtual assistant, but in the future, we’d expect to be paying 20% of our revenue on our team as we continue to grow.
Here’s what we know to be true:
The beta students confirmed for us that the Purposeful Business Course achieves the transformation that we hoped, and has exceeded all their expectations.
This second launch told us that our messaging is landing and meeting the right people who are the perfect fit for the program and that people are willing to pay the price we set for the offer.
We need to focus on lead generation, so that we can continue to support as many women as possible to live out their purposes by launching and growing profitable online businesses.
What’s next?
We don’t plan to launch Purposeful Business again until the fall of 2022, because…we are launching a podcasting course (Purposeful Podcast) in a few weeks!
>> You can get on the waitlist HERE <<
The three of us have successfully launched 3 podcasts with over 2 million downloads combined AND we keep hearing from our community and students that they want and need this program.
We are putting the final touches on this offer right now, and we can’t wait to get it out into the world and help other women use their voice to have a massive impact on the world.
That’s it for now! Did you like this content? Shoot us a DM on Instagram @pursuingherpurpose and let us know what you thought!
On Purpose,
