MicroStartup Income Report - June 2024

How was the numbers like in the first month of MicroStartup Venture Studio

We incorporated our new company MicroStartup Venture Studio on 23rd of May 2024. We got our first bank account opened by June 5th. Until we had a bank account, we couldn’t generate any revenue for our company.

A lot of our sales and revenue is still happening in my previous digital marketing agency and training company. I am working with experts on how to merge the two in the most compliant way possible.

Our new company MicroStartup has 4 divisions. Education, Services, Software and Platform.

We started with the education through my personal brand and distribution. We did a 2-day workshop on the topic of “Deep Marketing”.

Here’s the numbers for June 2024:

TLDR:

• Total Revenue: ₹1.23 Lakhs

• Total Profit: ₹1.15 Lakhs

• Cash in the bank: ₹1.41 Lakhs

Things to consider:

• No salaries were withdrawn in the month of June. Right now we are just 2 directors, and I own 99% stake in the company. My other director is my book keeper and he owns 1% equity. Because we need 2 directors for a PVT LTD company.

• MicroStartup is kinda supported by my previous company because we used the office and infrastructure and had no expense for it. So it’s not practical to say that we made 1.15 Lakh profit with no support.

• The old company will be closed or merged with MicroStartup eventually and we will only have 1 account where all the income and expense will be recorded.

Stay tuned for future reports.

Cheers,
Deepak Kanakaraju