One last job. Then she’ll retire. But this job just might kill her. Isn’t that always the way?
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I couldn’t help going over the numbers this month, and while I don’t promise to do them every month, I did end up doing a basic income report for January, mostly to compare 2019 to 2020 and see why everything on the book marketing side seemed to be blowing up in my face.
I ran a $9935 Kickstarter in January, but since the Kickstarter won’t clear until February, I am not counting it on this report, which means I can officially say that January 2020 was a bloodbath, just as bad or worse than November and December of 2019.
2019 – $12388.27 income vs. $9211 in expenses = $3177 in profit
2020 – $7,126 income vs. $10,207 = -$3081 deficit
Reasons?
Course income dropped from $1066.78 to $319.53, a decline of $747.25, or 70%
Book marketing dropped from $9848.22 to $4337.47, a decline of $5510.81, or 44%.
I decided not to freak out until after this month was over to see if the book marketing that had declined 50% after April of last year was just because of the time of year, but I came out with THREE banger builder options, and just…not many people took me up on them.
These were three of our strongest from 2018/2019, and I barely got any bites on them.
Luckily, I did have a $9935 Kickstarter that will clear in February, and another one set for March, but if these signs bear out, I’m probably not going to do much better than last year when the totals come out, because book marketing has taken a nosedive.
I’m going to have to spend a lot of time fiddling with a course launch after I finish this next book to hopefully make up for the deficiency in book marketing, which carried me many months in 2019, and without it, I would have barely scraped by last year.
Next month should be better than 2019 because of the Kickstarter clearing, and but I worry greatly about March and beyond. Unless the Cthulhu campaign goes gangbusters, I’m going to have a real struggle this year, especially since I am carrying Ichabod production costs of volume three until at least October.
This month demonstrates why it’s so important to have diversity in your business so that when one thing blows up in your face, you still have the ability to save yourself with other parts of your business that can carry the load. I still can’t figure out how to get everything humming at once, but at least there’s robustness so that I’m not constantly in the hole when one part of my company craters.
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