Updated: Mar 1
Right then, where to begin?
First off, if you read the last report you'll be thinking that this should be labelled 'February'. Well, I've changed my mind on the naming scheme. The last report will be renamed to 'Rob's Finance Report (from 'The Dawn of Time' to 2021)'. I think this better encapsulates that it's a historical document rather than a recent report and then we can start each new month looking back at the previous one.
In any case, I'm going to try out a new format for the report so let me know what you think at email@example.com.
The format will go as follows:
> General summary of the previous month
> Imported PDF document providing numerical detail
> Relevant links to purchases/expenses along with a short description
> Estimation/plan for the coming month
From February a graph will also be included to track income and expenditure on a monthly scale.
I think that should all be pretty clean and tidy. Not sure if Matt will follow the same concept but I'm sure he'll let you know in his blog too. We're both a bit late this month getting them out there! We'll improve. Promise.
So here comes the actual finance report.
Overall, January provided higher earnings than anticipated. Largely owing to Matt's generosity with live-streaming revenue through the Christmas period (he pays me for the previous month at the start of the next) and a few live-streaming donations I got through myself.
While the earnings were higher, so were the expenses. The largest costs being a new Wix website (which you'll hear about soon) and new sound panels to improve the issues with reverb and flutter in my office.
A Few Choice Purchases
Note: All products mentioned were bought with no direct link to the company. If I've included an affiliate link or referral code it's because I've sourced it after the fact and it had no bearing on my initial purchase.
Note: Some products may be affiliate links or part of a referral program. Affiliate links and referral programs provide an additional source of income to the podcast at no extra cost to you. Any affiliate or referral links will be highlighted in green and include an asterix '*' before the product.
While I haven't included everything I purchased, I do plan on creating a new page on the website for resources on a larger scale. Because of that, I only want to include relevant items within the blog. Items that have had the most impact during the month they were purchased.
*Sound Isolation Panels - https://www.gbfoamdirect.co.uk/?raf=ref6776939
Having researched a few other options, this company provided serious value for money with acoustic results that pleasantly surprised me. You can get 10% off your first order with the link above.
And yes, they're panel pinned to the wall. In a rented property. Don't judge me like Matt does.
*Pop Filter - https://amzn.to/3a6dy8A
Essentially does what it says on the tin!
But if you're unsure what a filter does, it reduces the impact of 'p's and 't's and any other letter that causes air to blow out of your mouth. Otherwise known as plosives.
I utilise it for my podcast recordings, live-streams and voice overs for my videos. This is my third one as I've managed to leave my other 2 at the workshop!
The Coming Month (February)
I anticipate February to include a few new larger costs including 2 book releases and potential marketing/advertising fees alongside them. This is all in aid of creating a collection of piano books that not only sell individually, but encourage purchases of other books within the collection.
In regards to revenue, I would be expecting a similar level to January with an increase in personal live-streaming revenue (as opposed to the live-streams with Matt) and a slightly higher value video edit. Teaching will remain stable while the pay from Matt will have reduced based on less live-streaming overall.
Regardless, it's going to be a good one!