A bit of a slow month for February. A few changes here and there but nothing particularly special to report on (which is the usual case for working towards goals haha). Business goals not where I want them to be – but working a lot on them and have hope for the near future. Haven’t been contributing to investment portfolio recently so a lot of the financial goals are fairly standard. No highlights really 😛 But still working towards the goals.
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 February was $4,671.
- Definitely not the direction I was hoping for as I had more revenue in January – especially where I need this to be on average per month.
- But, after looking at some numbers, I need to focus on pumping out more ads as well as increase overall brand awarenes. As the key revenue stream is dependent on how many sessions are held each month.
- January was very good for brining more leads/clients in, and in February I backed off a bit and there was a large drop. So I’ll need to focus on client acquisition again in March and hopefully bring a lot of people on board.
Generate $50,000 in profit by the end of 2023
- Profit in February was -$1,209.
- Much happier with this compared to January – mostly from a decrease in ad spend and a lot of other things needed to be paid for annually in January.
- I’ve had a look at the numbers, and just from sessions alone, there is a 20-30% profit margin which is great, but considering additional costs and one-off costs throughout the year, I’ll need to increase the gross revenue to then increase profits – all down to finding more clients.
- I’ve been working on a few additional things that will hopefully bring revenue in and therefore profits – not quite ready but not far off.
Gain 10 new clients every month (minimum of 120 new clients by the end of 2023)
- In February, I had 6 new clients – very good considering I only had 12 leads, but not quite hitting my goal.
- As discussed above, I need to shift my focus more towards this and really increase client numbers as this is the main funnel for income, leading to profits and growth of the business.
- Lead to client is roughly 50% – so that might be an indicator that I need to focus on sales skills and learning to sell my products better.
Reach a net worth of $250,000
- In March, my net worth was $137,525, a slight increase from February.
- Pretty average overall, not much changing apart from the usual super and changes in cash balance – I haven’t been contributing to much over the past few months, but good to see it growing nonetheless.
Grow investment portfolio to $50,000
- In March, my investment portfolio was $22,844.
- A slight increase in value from February. I haven’t been contributing to my portfolio as I’d like.
- I recently moved over to Pearler as the broker and it’s a great platform for Australian investors.
- My investment portfolio won’t reach 50,000 just by leaving what I have in there – I will need to invest money into my account and purchase more shares.
Increase lean muscle mass by 3kg
- In March, my scales showed an increase in muscle mass of 1.3kg – while that is very unlikely to be the case in one month, at least it isn’t lower than last month. Hydration, previous exercise, food intake, and many other things can influence what the scales show.
- Body fat is still on the rise – weight has also been going up, but I may need to reel in the food intake just a bit, or make sure on the bigger days of food intake I get to the gym and get a hard session in. The wight of 88.2 is probably just water weight.
- I’ve been a bit slack in the gym during February – so I’ll need to get back on that. I’ve been focusing on protein intake and I think that has helped with the body composition.
|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|
|March||88.2||64.4 / 73.0||20.4 / 23.1||+1.3|
Not really much to report on from February, a few changes here and there, which is the usual case with working towards goals.