I have never properly done budgeting or reviewed the revenues for my business. Since 2020, my revenue has been slowly growing. I know that if I budget my business expenses, plan my expected revenue and net profit for next month/quarter/year, this will help me see how to grow my business and what types of services I need to market better, and so on.
Actions I’ve taken so far
Google Business listing: I keep an updated google business listing and gather recent reviews from the clients who enjoyed my services.
Website: I published a website about six years ago with the basic description of my services.
Articles: a few years ago, I published articles in Russian about my services for my target community in local media sources (Forum Daily, in Russian)
I analyzed my monthly revenue for 2023 with a breakdown per income source.
My future goals
Create clear budgets for all types of revenue streams my business has.
Calculate break-even point for my business.
Understand the most basic bookkeeping I need to do for my business to keep it healthy and grow it.
Have clear and specific goals in terms of revenue & profit per month, quarter, year.
Grow the most profitable revenue streams I have at the moment (translation services for individuals, interpreting services for agencies).
Create and run a simple Google Ads campaign for translation services for individuals.
Improve my website text by adding more relevant and current description of my services.
My motivations to work with a mentor
I need to do simple business planning, budgeting, and revenue planning. I also would like to see how other businesses do it.
About my venture
Olga Bogatova Language Services
A sole proprietorship oriented at providing translation & interpretation services in Russian & Ukrainian to the local community in the Bay Area.