191. [Q1 2023 Income Report] $194K In Cash + Our Highest Profit Margin In Years
Cubicle to CEO
Ellen Yin
5.0 • 580 Ratings
🗓️ 24 April 2023
⏱️ 7 minutes
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| 0:00.0 | The following teaser is pulled from Revenue Report files, an audio archive of five years of Cubicle to CEO's quarterly revenue reports from 2020 through 2024. Each episode breaks down our company's profit and loss numbers, along with the context, decisions, and lessons from that quarter. Full episodes can be found at cubicle to CEO.co slash revenue report. |
| 0:32.0 | Hi, welcome back to our quarter one, 2023 income report. This quarterly income report covers the months of January, February, and March of 2023. So overall, for revenue in |
| 0:42.2 | this first quarter, we generated 194,500-and-some-odd dollars in sales. Our expenses were $89,500,500-and-some-odd dollars. Our expenses were $89,500 |
| 0:53.7 | and some-odd dollars. So our profit, as you can see, is nearly 54%, which I have not seen |
| 1:03.7 | numbers like this since probably 2019 when I was still providing done for you marketing services and operating primarily as a service |
| 1:13.8 | provider with a small agency team of contractors. So this profit margin is absolutely insane to me |
| 1:21.4 | because for the last number of years, our target profit margin has been 30% pre-tax profit, and we've more or less stayed around that |
| 1:29.8 | amount over the course of the year for the last three or so year. So again, this huge profit |
| 1:37.1 | margin, I think, can really be attributed to one key thing. A lot of you as have asked, like, what does a brand partnership look like or what does |
| 1:47.1 | that really mean since that's such a big part of our revenue model now? And really, I mean, |
| 1:52.2 | a brand partnership is very different for each brand that we work with. We customize all of our |
| 1:58.0 | packages based on a brand's needs, their priorities, their goals, and to an |
| 2:04.2 | extent their budget, of course, we have minimum rates that we require to be able to work with us, |
| 2:09.7 | and those budget needs will adjust based on what their goal is. So for example, if their goal is |
| 2:16.6 | purely just brand awareness, |
| 2:18.0 | we're able to put together a package for a lot less than if their goal is to drive immediate |
| 2:24.5 | sales. And they want to see that instant ROI, like, okay, we invested, you know, $10,000 |
| 2:30.3 | in this campaign. And we want to see at least double that return right that's a |
| 2:34.6 | totally different ballgame and the the budgets required for that type of campaign is much |
| 2:41.4 | higher because we have to create a much higher volume of deliverables and also give them |
| 2:47.9 | you know our primary placements on our media channels to make that goal |
| 2:52.1 | possible. So it really ranges. Generally speaking, I would say, unless someone's running |
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