January is gone, and with it, some progress! Not as much as I’d hoped, but it’s early in the year and things are slowly getting there. I didn’t manage to hit a few of the larger goals as they are likely to take a lot of time, but hoping to be much closer by mid-2023. Happy with how things have been going so far and I’m excited by all of my goals (all of them are ambitious.. :P). I am enjoying focusing on a smaller number of goals, but which have more meaning to me right now. I might add a few on as we go if something new comes up, but we will see.
To see a more detailed breakdown of each goal and how I’m planning to achieve it, check out my Goals for 2023 post.
NATHAN’S MOBILE PT
Reach a revenue of $240,000 by the end of 2023
- Revenue for January was $5,395
- To hit this goal by the end of 2023, I’ll need to hit an average of $20,000 per month. While I’m nowhere near this now, I’m confident that it will be past that towards the end of the year, and hopefully each month there is an increase.
- Aiming to increase revenue per month and hit the $20,000 shortly after mid-year. That way I’ll have a chance to reach my goal.
- For my business, revenue is coming from training sessions, so by doing some calculations, I’ll need to have roughly 250 sessions per month or 62 sessons per week. Spread those out across a few different trainers and it breaks down to 13 trainers with 5 clients. Doesn’t seem so daunting looking at it that way. Therefore my goal will require my to grow my business more and more over 2023, and I’m confident I can do this.
Generate $50,000 in profit by the end of 2023
- Profit in January was -$4,671 (hear me out).
- I am aiming for $50,000 by the end of 2023, and if you’ve followed me, you may remember that I’m working with a business coach and working to increase my profits. In 2022, there was pretty much an equal revenue and expenses, and therefore a very small amount of profit.
- Now, -$4,671 is not where I’d like to be so early in 2023, but January appears to be the time of the year where everything is due (workers compensation, insurances, registrations, etc). It’s also the best time of the year to increase advertising, so I’ve been putting a lot of money into ads, with the aim of brining more people on.
- All of this couples with paying staff, and everything else, January was the biggest month I’ve had with expenses, and becauase revenue stayed the same, the profit suffered for this month.
- Next month is already looking a lot better.
Gain 10 new clients every month (minimum of 120 new clients by the end of 2023)
- In January, I had 12 new clients come on board!
- There were a few clients who stopped and one of my PTs left and unfortuntaly I couldn’t pass them onto another trainer.
- So while I gained 12 new clients, I also lost roughly 7-8. However, my focus is more on ensuring that new clients are coming in, as well as ensuring there are enough trainers to cover all clients and their location. I am also focusing on customer satisfaction which is important.
- I had a lot of ads running in January, and a lot of people probably signed up in January due to new year’s resolutions and the start of the year, however, I’m confident I can bring in another 10 or more with some specific ads and growing awareness of my business.
Reach a net worth of $250,000
- In February, my net worth was $135,768, an increase of 1.1% from the start of January.
- Not much changed, just a few increases in things like Super, and a few other categories going down.
- Unfortunately, to reach my goal I’ll need an average of 6.5% growth per month. Sometimes this can happen naturally, but most of the time it’s because of investing more money.
Grow investment portfolio to $50,000
- In February, my investment portfolio was $22,401.
- A slight decrease from the start of January due to consolidating a few holdings.
- I didn’t make any extra investments during January due to a few larger fees being due and paying off a few things.
- I need to work on investing a small amount per fortnight. Even if it’s not a lot, it will get me in the habit and it will help to increase my portfolio.
Increase lean muscle mass by 3kg
- January was a pretty bad month to be honest, at least determined from my muscle and body composition metrics.
- In February, my scales have shown that I lost 0.3kg of muscle, and gained 0.9kg of fat.
- That’s very unlikely given I also gained 1.2kg of total body weight.
- Given this is the first time I’ve properly eaten enough in a while, and I’ve been consistently strength training, the extra weight is probably water weight, and glycogen levels being topped up.
- I’m happy with the 1.2kg and it’s a great first step at the start of a bulk, but, I’m hoping next month will show a better result with increasing muscle mass.
- I may also focus on getting more protein in per day. I would say that it’s probably around 120-140g when I’m focusing on it, but it can sometimes be lower. Ideally a little more would be great.
|Month||Weight (kg)||Muscle Mass (kg/%)||Body Fat (kg/%)||Muscle Mass Change (kg)|
|January||84.6||63.4 / 74.9||17.9 / 21.2||–|
|February||85.8||63.1 / 74.0||18.8 / 22.1||-0.3|
Some of my results over January weren’t as I expected, in particular the profits and the muscle mass. However, I’ve been making good progress on the others and regardless of the month to month changes, I’m happy with where I’m at so early in the year.
What are your goals for 2023? Let me know in the comments below!