Dry months. Recruiting. Revenue share downlines. Stock awards. This is the layer recruiting presentations show you — modeled honestly, with the costs still attached.
Everything in one statement — cost side and wealth side.
Production is concentrated in your producing months; fixed fees and tool costs never stop. Rev share (teal) smooths the dry months.
Same production each year; network compounds at your growth rate. Stock shown at award value (3-yr vesting ignored for simplicity — see note).