Alrighty my friends! Christmas season is over and as you can imagine, a big chunk of revenue was flushed into the accounts during the most lucrative time of the year. That being said, I must admit that it surely wasn’t my best Christmas and I’m actually a bit disappointed. The numbers could have easily been higher and there were no particular indications that this was to be expected, other than that November was also a bit a of slow month. Don’t be fooled by the earnings you see in the table. The actual income is only paid out in January, so the bulk will show up there…like it did in January 2016.
But you know what? I have far more interesting news to report and truth be told, I’m a bit nervous. Actually, I’m super nervous. In the early days of the new year I finally made a big decision that I had been contemplating for a really long time. But before we get to that, let’s talk some numbers.
Based on my own sales tracking, December saw EU gross sales which went up by 88.6% versus the previous month (41.2% up on the US marketplace) but 26.8% lower than the same period last year. That’s good, but not awesome. I remember having crazy 14.000 EUR months a few years back. Those days are long gone….primarily because I haven’t been putting as much effort into the business as I didn’t back then. Overall I’ve ended the year on par with 2015, which is ok given the little time I’m put in.
Redbubble was a small revelation in December. I only adjusted the prices in early December, but the increased markup barely had any impact on the number of sales. It simply increased how much my cut was. This is absolutely great because I wasn’t overwhelmingly happy with Redbubble given the amount of effort you needed to put in. But this is a very interesting development and rest assured, I will continue to push in this space, because 230 EUR is a nice little extra income and there’s a lot more potential. I know this was around Christmas time, but the overall trend remained even after the main shopping spree.
The Big News: Flying Solo
Yep, you guess it right. I quit my job. Or to be more precise, I told my employer that I will be leaving the company by end of June. The decision didn’t come easy and it took A LOT of hard thinking and a lot of chat with friends and family, but I’ve finally decided it’s time to go and fly solo.
Although it was only a matter of time and I kind of saw it coming, I must admit that I absolutely terrified….which is kind of a good thing. I’m leaving behind a very comfortable and fairly sizeable monthly pay-check plus benefits. And yet, it feels like the right decision. You’ve got to try it some day or you’ll end up regretting it some day. What I’m really looking forward to is being able to fully pursue all the ideas that I have in mind, including setting up a few of the courses that I’ve really wanted to set up for The T-Shirt Academy since early 2014.
I also really look forward to interacting with many of you on more regular basis. I know a lot of you are out there and are wondering how on earth can you get your t-shirt business off the ground to a point where you can do your own thing. I know the feeling and that’s what I want to achieve with all of you. I’ll be reaching out to many of you in order to understand what you biggest challenges are and where you need some desperate help.
2017 is going to be awesome! 🙂
Monthly T-Shirt Income Report
I’m looking forward to reading your questions and comments. If there’s any particular position that you would like to know more about, then let me know and I will try to clarify.
|Spreadshirt Marketplace EU||2,845.91||3,000.44||1,854.85|
|Spreadshirt Marketplace US||449.31||473.71||359.89|
|Miscellaneous Hosting Services to 3rd Parties||–||–||–|
|Expense Positions||EUR||USD||Last Month|
|BoxCryptor (Annual Subscription||–||–||–|
|Deutsche Post (Shipping Costs)||–||–||–|
|Digital Goods (Themes, Templates etc)||–||–||20.00|
|Dropscan (Mail Scanning Service)||11.53||12.16||18.96|
|GitHub (Micro Personal Plan)||6.64||7.00||7.00|
|Google API Services (mostly translation)||0.19||0.20||–|
|Google for Work (Monthly Subscription)||13.15||13.86||12.96|
|HostGator (Web Hosting Services)||11.07||11.95||11.95|
|JetBrains PHP Storm (Monthly Software Subscription)||8.90||9.38||9.61|
|Laracasts (Monthly + Lifetime Membership)||–||–||219.00|
|MailChimp (Monthly Subscription)||9.48||10.00||10.00|
|Namecheap (Domain Name Registration Fees)||281.79||297.09||–|
|Noun Project (NounPro Subscription)||9.48||9.99||9.99|
|PureVPN (Annual Subscription)||–||–||–|
|Shopify Basic Subscription (for www.gocaptain.com)||27.51||29.00||29.00|
|Xing (Quarterly Subscription)||25.08||26.44||–|
|Tax Adviser (Quarterly Booking)||150.00||158.15||–|
|Net Operating Profit (excl. all taxes)||3,027.89||3,192.31||1,955.73|
|Tax Elements||EUR||USD||Last Month|
|VAT on Income||540.72||570.08||352.42|
|VAT on Expenses||35.82||37.76||3.98|
|Net VAT to be paid to the Tax Man||504.91||532.32||348.44|
*EUR/USD Exchange Rate for December 2016: 1.0543