No big comments this time around. I’m really just catching up on the posts which I’m behind on and the retrospective is a bit pointless due to lack of context. Therefore let me rush through the facts for you.
monthly income reports
Well, it seems the big summer party is over now. Last month I reported how good sales had been going and you can clearly see the effect in this month’s payout (remember that your sales are always paid out 2-4 weeks after the actual sale). That is also why July has a higher net result than June.
Overall it’s been rather quiet and I continue to be pre-occupied with other topics, so I simply can’t seem to dedicate more time. It’s really unfortunate, but I guess there’s only 24 hours in a day and 7 days in a week. I also haven’t managed to find a way yet to clone myself either 😉
How to Choose the Right T-Shirt Niche
That being said, what I have noticed is a staggering amount of traffic being driven to the site thanks to a specific article on how to choose the perfect niche for your t-shirt business. It’s strange because it’s a fairly short article really. I mean, there’s so much I could share on the topic, but I never got around to elaborating. But there’s clearly a strong interest for the topic and it makes me wonder wether it would make sense to create a separate course on how to identify the right niche for you. It’s something I’ll have to think about.
I saw it coming and I already told you this in my previous monthly income reports. It was clear that this summer would be a good one, but June exceeded my expectations by far. Sales continued to climb and got an extra boost thanks to the EURO 2016. It was by far my best non-Christmas sales month in more than 2 years!
Furthermore, almost 3 years after I initially started my own t-shirt printing project (before I found out I had to move to Cape Town), I’ve actually made my first t-shirt sale via my GoCaptain Shop. I know it sounds like a joke and it kind of is, because I haven’t invested any time or money into it. But it’s so bewildering to see your first actual t-shirt sale come through and deliver it to your customer. Read all about it in my June income report!
Welcome back to the The T-Shirt Academy and my monthly income reports. I’m a bit late for the May report, but for the sake of completeness I like to share all the details anyway, so that you get a feeling for what my monthly economics looks like. Overall May was a great month and you could really see that summer sales will starting to gain pace. That being said, it’s clear that there’s still so much more potential. This is just a small taste of what’s waiting for you in the June income report.
You may have noticed that I haven’t been posting a lot of articles recently and I actually missed out on sharing my income reports for the past few months. I’ve caught up on that now and if you’re curious to find out more on why that is, then I suggest you read through the last few reports. Or just skip that part and read this report. I do talk about some of the reasons for the lack of activity as of late.
Other than that, I can report that April was another great month and that sales are looking very promising. Once again, the odd payout cycle sort of masks this (read my March 2016 report for more details about this), but I can assure you, I’m seeing the boosted performance in my live numbers every day. I have a very good feeling about this year. Anyway, let’s get down to business!
At first glance it might look like March was a weaker month than February because my Spreadshirt payout went down compared to the previous month. However, that is actually not true. In this context, it is important to understand how Spreadshirt payouts work and how I track my sales numbers.
When I track my sales, I take the daily sales recap which Spreadshirt sends out after most work days. This give me live feedback regarding t-shirt which have been ordered, paid for and sent out to the customers. The delay is minimal. Of course, sometimes there are chargebacks or returns for which I then get deducted my commission, but those are not too serious. My commissions end up in my account, waiting to be paid out.
February was another relatively good month in terms of sales, but slow in terms of the time and work that I invested in my t-shirt business. I was on annual leave for more then 3 weeks, which was obviously very long and also well-deserved. We actually went back to Cape Town again for some proper nostalgia. After more than a year without proper leave, we simply wanted something more relaxing and easy. We had the strong urge to return to South Africa after having lived there for almost two years. We didn’t want to pressure ourselves with sightseeing or any other unnecessary commitments. We simply wanted to have a good time and enjoy the amazing food, wine, weather and friends.
However, it also meant that I couldn’t focus as much on my t-shirt business as I would have like to. Furthermore, Tina and I came to the conclusion that her own little project (not t-shirt related) bore significant potential and needed a proper push from both of us. I therefore decided to commit myself to her project full-time for the time-being (full-time = all my spare time outside of work). Even though this has little to do with The T-Shirt Academy, I’m sure I share some details with all of you in due time.
January has always been one of the weakest months in terms of actual sales. Due to the way Spreadshirt pays out its commissions, it actually ends up being a good one because I get paid all my sales from December. However, the shopping spree from Christmas comes to an abrupt halt. There are no particular occasions or holidays for which people would normally buy t-shirts and the weather is obviously not ideal for T-Shirts. Nevertheless, there is some news to talk about.
This is my very first full-fledged income report and it’s a very special one because it marks the end of an interesting and insightful year during which I worked A LOT on turning around the downward sales trend which I’ve had to witness the past 2 years.
The idea behind these reports is to give you an in-depth view into the inner workings of my t-shirt business finances. I will share with you not only some of the things I’ve been working on, the good and the bad, but also give you a detailed breakdown of my different income streams and expenses.
Ideally, what I am about to share with you is meant to inspire you and motivate you to take action, because without action there cannot be a proper result. Remember, just because my business runs mostly on autopilot, that doesn’t mean I you don’t need to nurture it. And it took a lot of hard work and many hours of creativity to get to the point where I am today. I hope you enjoy this report. I’m always keen to hear what you think and how I can improve them.