I have had to reconsider if I should publish an income report as that implies I am making an income, but I’m not! Well, I should clarify; I am not making any profit. My costs have been more than my income so far this year from my skull carving business U.S. Skull Hunter. Actually I have yet to make any profit in the past 2.5 years. Before you write me off though, there are good reasons for this apparent failure as a business.
- From the very beginning I decided I would reinvest any money I made back into the business. So if I made $500 one month I would use that money to buy more tools, supplies for videos, skulls to practice with, etc. I knew from the beginning that for a period of time I would at least break even or lose money.
- I have completely stopped accepting custom paid work. Yeah, so there goes my main source of revenue for the business! Why? Because I only have but so much time I can put into this business with a full time job and 3 small kids. I can’t pursue the topics I would like or create stuff I want if I am too busy making stuff for other people. I am sacrificing my income for the chance to grow my skills and creativity. I think this will ultimately lead to more opportunities in the future than just keeping busy with custom work.
My goal has always been to serve others through my business, to invest in people. I am in this for the long run and have the understanding that it could be years before I start to see an increase in income from my efforts. One way I have been serving those who follow me (You!) is by sharing my income here in these reports. If there is one thing I can’t stand are people and businesses who put on a front and try to make it out like they are more, and are making more, than they really are. It’s easy to take fun and happy looking photos on Instagram and to put CEO on a business card but that does not mean you are being successful or have your act together. Those people are not fooling anyone. People have been advertised and pitched to so much their BS meters are on high alert. Of course I have to make money in order to support myself and my family but I am making it a priority to serve people first, not sell to them first. I hope through these income reports I can keep myself humble, build trust, and give you an open view into the reality of where I am at with my business right now. I hope to be sharing an income of $10,000 a month, but just not yet! ~ Hunter Richardson
The last time I published an income report a few of you challenged me with the question “That’s great but are you making any profit after your cost involved in running the business?”. And as I said earlier the answer is no. Just how much am I losing? Well, normally I do not calculate my cost until the end of the year. But for the sake of full disclosure I went ahead and totaled up all my cost for Jan-Sept of 2018. My total cost that I have spent thus far on my skull carving business is $7,822.52. Total Income for the same period is $6,044.04. So the net profit/loss is a loss of $1,778.48. I will just leave it at that. Now here is the income for the 3rd quarter and exactly where the money came from.
$360.00 – Skull Carving Service
$35.89 – Amazon Affiliate Program (If you purchase a product on Amazon after clicking through a link on my website Amazon pays me a percentage of the sale, at no cost to you).
$11.43 – Amazon Affiliate Program
$427.96 Skull Carving Service
$154.01 Replica Skulls
$151.63 YouTube Adds
$23.89 Sold Hat (I make $6 profit from a hat sale, the rest is cost)
$32.29 Amazon Affiliate Program
Total Income For The 3rd Quarter of 2018 = $1,197.10
If you would like to see what I am working on in my carving shed feel free to follow me on Instagram @u.s.skullhunter and on YouTube here