jmonen

daily blog

Category: Business

Update on My Recurring Revenue Goal

Last year I decided to move away from working with clients who only had one-off projects to clients who had monthly ongoing needs.

My thinking was that this was the best way to predictable monthly income. And that’s turned out to be true.

Right now I’m making 81% of my income from clients who I’m working with on a monthly basis. And I love it.

It has definitely not been an easy road though. Like I said, I made this decision last year and after a lot of trial and error I finally feel like I’m hitting my stride here.

It’s a good reminder that even though we usually don’t know how our goals will come to pass, it’s still important to set, and pursue, them.

OK… enough motivational talk. Let me tell you how I got these clients because that’s what you really want to know, right?

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How To Create More Margin in Your Finances

I realize I need more margin in my life.

I’m constantly trying to cram too many projects and tasks into my day and it’s not sustainable.

And when I think about it the problem is bigger than just how I schedule my days. It also affects my finances.

For example, if I operate with no margin financially then I create unnecessary stress and pressure in my life. If we have a big unexpected expense and we have no emergency fund then there’s suddenly a major problem in our family.

However, if we have a fully-funded emergency fund (which we define as at least 6 months of living expenses) then the “emergency” gets downgraded from a Category 4 to a Category 1 storm.

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The Time I Quit Copywriting and Went Broke

I’m an all or nothing type of person.

Most the time it’s a good thing. But sometimes it causes me to make stupid choices. 

Like the time I quit writing copy so I could “go all in” on my dream of starting a marketing agency.

I remember this well because it was just last year!

I was working full-time as a freelance copywriter but was going through one of my usual “young-life crisis.”

“I don’t want to be a freelancer anymore. I feel like I’m supposed to be an entrepreneur,” I told my wife. “I want to build something bigger than myself.”

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