For the remainder of this year my goal is to increase the income of my existing small businesses, create a few new ones and by years end have them making a combined total of at least $7,500/month on a consistent basis.
The foundation of that income will be House Of Rave, the business has been a constant money maker since high school, so it’s much less volatile than newer ventures.
For June, HoR brought in over $2,500 in profit (about $7,900 in gross sales). If this continues, I am halfway to my HoR goal of $5,000/month.
Interesting Fact: Last year in June, House Of Rave brought in $718 in profit. So from last year there has been over a 300% increase in profits.
Next Steps: Of course doubling income for HoR will be a difficult task, but I’ve already started to prepare for it. I’ve upgraded my shopping cart software which by Monday will support the BRAND NEW Google Checkout feature, and I’m working on allowing visitors to comment on the highly popular video section. I’ll also be visiting the supplier I’ve worked with for so long in California.
Judging from this post, my June 2005 account balances totaled $26,374.
My current account balances are:
General Account – $ 1,700
Spending Account – $ 200
Spending Account 2 – $ 811
Investment Account – $ 3,523
Bill Account – $ 1,202
Permanent Savings – $ 2,828
Charity Account – $ 338
Stock Portfolio Value – $ 11,073
Roth IRA – $ 6,674
Emigrant Direct – $ 5,015
Total Liquid Assets – $ 33,364
Credit Card Balance – $ 0
Business Holding – $ 3,692
Total On Hand – $ 37,056