Doubling My Revenue in 5 Days: A Breakdown of My Business in May
Last month, my creator business made $141,092.22 profit. I doubled my revenue in 5 days. Here's a breakdown of how I did it, including revenue, expenses, newsletter, and audience growth. Plus, I set a goal to become more leveraged as a biz in 2023.
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Kieran Drew
Quit dentistry to become a writer, sharing what I learn as I build my creator business · Come join 22k+ reading my newsletter Digital Freedom
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Last month, my creator business made $141,092.22 profit.
— Kieran Drew (@ItsKieranDrew) June 17, 2023
I doubled my revenue in 5 days. But it only happened after a few crucial changes.
Here’s a breakdown of my business in May:
(Revenue, expenses, newsletter, and audience growth) -
The Freedom Metre
— Kieran Drew (@ItsKieranDrew) June 17, 2023
In 2023 I set a goal to become more leveraged as a biz.
There was a big dip in earnings when I stopped selling my time. But it also freed me up to build my second product.
In Jan, 43% of my total revenue was ‘low leverage’.
Here’s May’s 👇 pic.twitter.com/UrnBW4gUIi -
May’s revenue
— Kieran Drew (@ItsKieranDrew) June 17, 2023
The downside to doubling your revenue is the graph now looks silly.
The plus side, I don’t need to explain lol.
Let’s dive into the sales behind the product. pic.twitter.com/mx7jq1fiWI -
Total product sales: 505.
— Kieran Drew (@ItsKieranDrew) June 17, 2023
I used tier pricing for anchoring and a way for my audience to pay more.
The $997 package grossed $10k.
I had a small affiliate team which grossed $15k in sales.
I used my first product as an upsell. This grossed $8.6k.
Small touches add up. pic.twitter.com/vQl55coqnc -
May’s Expenses
— Kieran Drew (@ItsKieranDrew) June 17, 2023
The best part about digital products are the margins. There’re very few costs aside from software.
Including courses from previous months High Impact Writing profit margins are around 90-95% so far. pic.twitter.com/2CCsFpjCpR -
Newsletter Growth
— Kieran Drew (@ItsKieranDrew) June 17, 2023
I expected this to be the worst month yet.
But @convertkit recently launched their creator network and it’s amazing.
So despite not promoting my newsletter, I’m getting around 1.5k passively. pic.twitter.com/y7BpfzShKE -
Audience Growth
— Kieran Drew (@ItsKieranDrew) June 17, 2023
Again, a great result considering content was not a priority.
I promoted my course heavily on Twitter. I rarely do that because I worried it would impact growth and relationships.
But turns out people enjoy seeing someone taking action. pic.twitter.com/XgHrHhFp4n -
Final observation: screw consistency.
— Kieran Drew (@ItsKieranDrew) June 17, 2023
I’ve rarely missed a thread or email before this product.
But I decided to go ‘all in’ and it paid off.
Grinding will get you going, but it’s asymmetrical bets that set you apart. So don’t be afraid to throw away the playbook. -
Thanks for reading!
— Kieran Drew (@ItsKieranDrew) June 17, 2023
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Just click below and up you go: https://t.co/0NJLy1YXJl -
P.S.
— Kieran Drew (@ItsKieranDrew) June 17, 2023
I do a more in-depth monthly business breakdown in my newsletter Digital Freedom. People often say it’s the best email they’ve read all month.
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