It’s full-disclosure 2014 for me and my creative business. I decided going into the year that I would not only share how I spend my working hours each month, I’m also going to publish my income for all the world to see.
Why? Because the best article I’ve written this year was the first in a series for the Creative Mama blog titled, How to Turn Your Hobby into a Side Business. It brought me back to WHY I started the Energy Shop four years ago: I wanted to live an inspired life and contribute to my family’s income, but I also wanted to maintain my presence at home and continue to be there for them.
Before I opened the Energy Shop on Etsy, it never occurred to me that I could build my own work-at-home business with as little as $100 worth of supplies. But, that’s exactly what happened. And each month, I supplement the family’s income with my creative business earnings. That’s pretty amazing.
Therefore, and as we launch into the next running of the Build a Better Creative Business course, I’m talking real numbers. In 2010, my biggest goal was to be a work-at-home Mom. I’ve absolutely achieved that goal, and I want to be completely transparent about the details and my experience in this industry.
If you’re wondering if the Build a Better Creative Business course is for you, I’m sharing today to show you exactly what I bring to the table. This is what I know how to build, and I’m standing by to coach you on how to do the same. Here’s what I made and the ways in which I made it:
In January 2014, I earned a net income of: $2,141.11
I start almost every discussion on money or building a rewarding creative business with full disclosure that I believe a multi-faceted business is a must. Therefore, I’m going to list the source of my income from highest- to lowest-paying for this period. January’s sources of income were:
- Energy Shop Jewelry (screen-clipping above)
- My part-time work as Create Hype‘s editor
- Marketing Creativity’s Etsy shop, books and programs
- Build a Better Creative Business course + workshops
I feel very vulnerable sharing my income. I don’t know what you’ll think of my numbers, and that scares me. But, it also feels very freeing. I feel validated.
After I carefully calculated my working hours this month, I did some math. First off, minimum wage in my state is $7.25 per hour. Let’s say I went out looking and landed a really good job (after a decade of being a stay-at-home Mom), doubling minimum wage at $14.50 per hour. Let’s even say that this job offered me flexible hours so that I was only ever working while my children were in school (35 hours per week).
Here’s what I make now …
$2,141.11 (January earnings after expenses and taxes) / 76 hours = $28.17 per hour
That’s roughly $563.45 per 20-hour, work-at-home week (after taxes)
Vs. what I might make in the traditional workplace …
$14.50 x 35 hours = $507.50 per 35-hour week at a traditional job (before taxes)
For an estimated total of $1872 per month (after taxes)
Bear in mind, that’s just a wage calculation. In my county, we had several days of canceled school in January alone. What would I have done had I had a traditional job? Hired a babysitter? Called off work? I can’t know how any of that would affect my salary. How would I handle the children’s two-week spring break, let alone summer vacation? I have no idea!
Thanks to the Energy Shop and Marketing Creativity (and to you for sharing these endeavors with me!), I’ve been a work-at-home Mom for nearly four years. If this sounds good to you, then consider investing in the Build a Better Creative Business course so we can help you shape your hobby business into a handmade success.
The Build a Better Creative Business course opens on March 3, 2014.
This is a semester that you don’t want to miss! We know we have a spectacular course for you, and we want this to be the biggest running yet. The 2014 spring session includes more lessons, more bonus materials, more workshops and worksheets and more personalized attention than ever before.
On Thursday, February 27, we are going to announce an early-bird special that is so amazing and valuable, you simply won’t be able to pass it up. We’ll be sharing all of the details very soon, but sign up here to be the first to know.