Welcome to my October 2017 Monthly Income Report! It’s been a busy but extremely enjoyable month. I’m happy to share what I’ve been up to, and how the businesses have been progressing. As always, I share all of the ins and outs of my business so that you can get motivated, and learn from both my wins and my failures. Some months are up, others are down, but there are always lessons to be learned, which I’m happy to pass on to you.
Beyond that, I also love to share what’s coming next, and with the year coming to an end very soon, team SPI and I have been putting a lot of effort into what’s coming in 2018. So, without further delay, let’s get right to it!
Income Summary
- Last month: $220,158.54
- This month: $145,511.70
- Last 12 months: $2,074,204.23
Expenses Summary
- Last month: $57,061.83
- This month: $49,458.31
- Last 12 months: $645,315.21
Net Profit Summary
- Last month: $163,096.71
- This month: $96,053.39
- Last 12 months: $1,428,889.02
For the complete breakdown of income and expenses, visit the full report here »
Note: Items with an empty difference percentage were not present on the previous month’s income report.
What I Learned in October
Going back to VidSummit, another key lesson I learned while I was there is “the hook.” That is, when you start a piece of content (whether it’s video content or other content), how quickly you get people committed to finishing that content all the way through before they make the decision to leave (aka “bounce”).
This relates back to increasing watch time and session time, two of the key factors YouTube looks at in their algorithm.
I realized after hearing about the importance of “the hook” over and over again at this conference, that in all of my content—the blog, the podcast, and especially within my existing videos—the hook is something I never really tried to do well. I just sort of started, and would hope that I would set it up nicely so that people would want to continue to read down the page, or listen to more of a podcast episode, or stop themselves from clicking away from watching a video.
In 2018, you’ll notice a significant attempt (hehe, attempt) to get better at hooking the audience to keep you intrigued. I also learned not to bait and switch people either. Meaning, if you create an amazing hook, but don’t close that loop, or deliver on that promise, your audience will actually turn away even harder, and probably never come back.
You need to keep your promises. But, on the other side, I know personally I can do a better job of letting people know what those promises are right away.
And on the other end of this are your open-ended teasers. To keep people going, you need to also let them know what’s coming next. It’s partly how Netflix shows reel us into the next episode as soon as one finishes.
For us, it’s how we can get people to keep reading, watching, and even clicking.
So, I’m going to practice that right now.
This month, Ask Pat Episode 1,000 goes live on Monday, November 20. It’s a special episode of the podcast, not just because it celebrates 1,000 episodes since February 2014, but also because I’m going to announce an important and significant change to the format of the show.
After 1,000 questions answered, this new direction is needed, and it’s going to give me an opportunity to give you even more value down the road, maybe even directly related to you and your business situation.
What is this new change and how will it affect you? Well, you’re going to have to subscribe to the podcast and listen to episode 1,000 when it goes live next week.
To subscribe to AskPat, visit AskPat.com, or click here to subscribe on iTunes.
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Thanks so much for your time and attention here in this month’s income report! Wishing you all the best, and here’s to an amazing end of the year!
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