Jan 12, 2008

2007 being over, and taxes looming on the horizon, I figured I should probably put together my finances for the year. I should have been keeping track of this on an ongoing basis, but... Pretty much as soon as I started to delve into my records, I realized something: my hard copy records were fairly abysmal. Fortunately, I keep everything on my computer, and the hard copies are more of a convenience thing; as it is apparently the case that they're not actually all that convenient, I'm going to transition into fully electronic record keeping. Don't worry, I keep everything backed up both locally and remotely. I am in IT after all. I realized something else almost immediately: things are actually going pretty well, especially when you also take my 2006 numbers into account. My business having started in the summer of 2006, I had pretty low revenues for that year. In fact, both my Q1 and Q4 revenues for 2007 were greater than my total revenues for 2006. The upshot of that is that in 2007 I saw approximately 300% growth in revenue over 2006. Quarter by quarter, I maintained an average growth of slightly over 55%. One point of interest: on November 1 I changed my business model. In that month I brought on a new partner, and December ended up being my second highest grossing month yet, despite the holiday slowdown. Obviously I don't have the final numbers yet, but I can pretty much guarantee that January will beat it, and February will likely beat January. In fact, I'm currently set for Q1 of 2008 to not only be my highest grossing quarter so far, but to repeat the performance of Q1 2007 and gross higher than the entire previous year. I think this means that my business model is working. :)
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