First goal update in a while. Lots of things happening in life right now so it’s challenging to juggle and improve on a lot of my goals at the moment. Still working towards them and they are going well. Only 2.5 months to the end of 2023 so will be doing what I can in the following months to improve. A few of them are a bit of our reach unfortunately, but happy with how they have been progressing. Been a bit slack with the updates but will aim to upload teh monthly post to keep on track.
To see a more detailed breakdown of each goal and how I’m planning to achieve them, check out my Goals for 2023 post.
NATHAN’S MOBILE PT
Reach a revenue of $240,000 by the end of 2023
- Revenue for September was $9,650 – just shy of $10,000!
- The gym has now been in operation since mid June 2023 and it’s going well. There hasn’t really been an increase in members after the initial group that joined, but they have stayed and continued to have sessions.
- I’m now getting roughly 100 sessions throughout the month across both gym and mobile personal training. This has led to a fairly consistent revenue each month, but I’m finding that it has flatlined around this area. Doing some work on retention and bringing new clients in, but I’ll need some sort of bigger increase if I want to each my revenue target per month.
| Month | Total Revenue | Target |
| January | $5,395 | $20,000 |
| February | $4,671 | $40,000 |
| March | $5,722 | $60,000 |
| April | $3,752 | $80,000 |
| May | $7,049 | $100,000 |
| June | $8,251 | $120,000 |
| July | $10,245 | $140,000 |
| August | $8,806 | $160,000 |
| September | $9,650 | $180,000 |
| October | $200,000 | |
| November | $220,000 | |
| December | $240,000 | |
| TOTAL | $63,541 | $240,000 |
Generate $50,000 in profit by the end of 2023
- September was another month with no profit.
- In August I started putting a lot more into google ads for new clients which has been working well, but the gym purchase still had a few extra payments to be made from June until September.
- I’ve now completely paid for the gym so that will leave me with less expenses for October and months going forwards. I’m still getting business coaching which is also a large expense, and that goes to the end of the year.
- While of course I would like to see more profit, I’m at the stage now where I’m still focused on growth and therefore using all profits to keep growing, find more clients, more trainers, advertise more, and keep expanding.
| Month | Revenue | Expenses | Profit |
| January | $5,395 | $10,066 | -$4,671 |
| February | $4,671 | $5,880 | -$1,209 |
| March | $5,722 | $5,621 | $101 |
| April | $3,752 | $4,191 | -$438 |
| May | $7,049 | $4,202 | $2,847 |
| June | $8,251 | $21,544 | -$13,292 |
| July | $10,245 | $11,312 | -$1,066 |
| August | $8,806 | $9,568 | -$762 |
| September | $9,650 | $11,881 | -$2,231 |
| TOTAL | $63,541 | $84,265 | -$20,724 |
Gain 10 new clients every month (minimum of 120 new clients by the end of 2023)
- Client base has been steady, but hasn’t seen the growth as planned. Due to financial availability I needed to put a pause on the ads for new clients, and therefore the early months of 2023 wasn’t brining in a lot of clients.
- In August I started investing more into google ads and there has been a consistent increase of approximately 6-8 clients each month.
- While I can get clients in, I’m also focusing on retention of the clients I already have, and working on a way to keep clients for longer while also brining in new clients.
FINANCES/WEALTH
Reach a net worth of $250,000
- Net worth is still sitting at $130,000.
- It’s been very consistent over this year and has gone up and down due to certain events (like buying the gym, getting tax return back, etc). It’s actually slightly lower than it was at the start of the year which is a bit dissapointing.
- Haven’t included the $20,000 for the gym purchase or anything to do with the business as it’s difficult to measure.
Grow investment portfolio to $50,000
- Investment portfolio is at $0…
- The remaining amount I had invested I used to purchase the gym equipment in Canberra and open the gym. I’ve realised that my vehicle to financial independence will be my business rather than investing for the long term, however, I would like to get back into investing with any spare cash I have in the future.
HEALTH/FITNESS
Increase lean muscle mass by 3kg
- Muscle mass hasn’t changed much from January, missed getting proper measurements for later 2023 due to my scales being in storage.
- I’ve been working out consistently since July and really in the mindset of building a strong routine and foundation. Will see how I go at the end of the year, but gaining 3kg in a few months is pretty much impossible – but will see if I can increase it a bit more.
| 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 | 86.4 | 63.0 / 72.9 | 20.4 / 23.2 | -0.1 |
| April | 87.1 | 63.9 / 73.4 | 19.8 / 22.7 | +0.9 |
| May | 87.2 | 62.7 / 71.9 | 21.3 / 24.4 | -1.2 |
| June | 83.9 | 62.7 / 74.1 | 17.9 / 22.0 | 0 |
| July | 83.5 | 62.0 / 74.2 | 18.3 / 21.9 | -0.7 |
| August | ||||
| September | ||||
| October | 85.4 | 63.0 / 73.8 | 19.1 / 22.4 | +1.0 |
| TOTAL CHANGE |
2.5 months to the end of 2023. Insane. Going to keep working hard to achieve my goals, with most of my focus going towards my business and doing what I can to keep it growing.
Lots to work on, but unfortunately some of my goals are out of reach, but will still be doing what I can to reach them and be in a good position for 2024.
Nathan
Nathan Challenges Life 