And what a year it's been...

FYI there are lots of figures in today's email, cos who doesn't love a BTS, so grab a coffee and cookie before you dig in.

If you were in the goal-planning workshops this past weekend, you'll know the first part of the goal-setting process was reflecting on the year that was.

It's been a really interesting year for me, with highs and lows baked in.

I personally LOVE a good sticky beak or BTS, hearing how people are making money and doing business so I can get ideas from their process, so I thought today's email might serve mine on a silver platter for you to nibble on.

Sitting here in my studio, with Christmas a week away and a few days until I've decided to log off for the year, I took some time to look at the pillars and metrics from the past year and how they've impacted my business.

Cash

Metric: Revenue $298k, Profit $231k

On paper, I made less revenue than in the last two years. In 2023, I made $345k in revenue with $202k in profit, making it a 58.5% profit margin. This year, however, I made less revenue at $298k, but increased my profit by $29k, meaning I'd spent less but overall made more.

It also means this is the highest profit margin I've had since I went full-time freelance, a whopping 77.5% after all wages, tax, expenses and everything is said and done. And at the end of the day, the profit is what matters.

Considering the last full-time job I was in I made $70k a year, I'm pretty thrilled with these metrics. I have to remind myself often that this is a massive achievement because freelancing is hard. But what I used to make in a year I now make in 2-3 months.

If you want to work out your profit margin: Start with your revenue, minus your expenses, and this will give you your profit. Then use this equation: Profit ÷ Revenue x 100 = Profit Margin. 50% is good for service-based businesses, but it all depends on what your business does and how high the expenses are.

Clients

Metric: 75 Invoices | 23 Clients (5 new)

Unsurprisingly, most of my clients are return clients or clients I continue to serve again and again. Many of the clients I have now I have built up our relationships over years of calls, messages and projects.

I don't do any paid ads or marketing, simply responding to callouts on Facebook groups, relying on recommendations and pitching solutions when I see problems in their businesses and being ready with the price tag. BTW you can read about the ways I get clients here.​

I've said it before, I'll say it again. While your skills will pay the bills, your relationships will pay the rent. Without these relationships, it would have been way harder to make money from my creativity.

Consistency

Metric: 2 Monthly Retainers | 42 projects | 10 Masterclasses

Introducing retainers into the way I work back a few years ago was easily the smartest decision I made for the freelance side of my business. That consistent income really does help manage that feast or famine feeling when I don't have the energy to pitch (because I'm human and energy levels are real). If you've been curious about retainers, read about them here.​

For clarity, you may remember I had a client I fired last week. Well, that was a monthly retainer valued at $4.2k per month. This means next year I'd ideally like to replace that income and consistency with a like-for-like situation in 2025, meaning I'll be focussing on what I can sell consistently or if other clients might want what they had (hello, plate envy!).

I've also been pretty consistent with the Masterclasses inside the Pantry, serving them *almost* monthly, with a few AMA and extra goodies in there for Staples and Feast members. I have to say it's gotten easier to do them each month, having perfected my process and creating a step-by-step I follow each time I serve. Needless to say, this consistency is coming with me into 2025.

Community

Metric: 197 Pantry Members | 2,234 Email Subscribers

I am so blown away by the incredible members inside The Freelancer's Pantry. There have been friendships created, business partnerships and connections made and so many inspiring creatives being brave enough to ask "How can I make more money from this freelancing thing?". Hearing their money wins, seeing the impact of their confidence soaring and playing a role in their success has brought me so much joy this year.

197 is so close to 100... so if you aren't in the Pantry already, I HIGHLY recommend you join the Pantry Party.

You can join for free as a Bread Basket member or become a paid Staples or Feast member to access all of the resources, masterclass replays, video lessons, worksheets, calculators and more. Rumour has it there's even a 7-day free trial up for grabs until Dec 31...

Coaching

Metric: 12 Noodle sessions | 4 Noodle Month sessions | 3 Master Freelancer Grads | 3 High Touch Coaching Students

This year I served The Master Freelancer with all three graduates absolutely kicking butt by the end of it, some even getting so busy they had to close books in October/November. This was the third serving of this entirely bespoke coaching program, and while I'll admit I wanted a few extra people inside, it was incredible to see how much each of them grew their confidence as freelancers and business owners. Master Freelancer will be back in March/April 2025, so head here to jump on the waitlist.​

I also had 2 incredible 1:1 students in my 4 Month Coaching program and 1 student in my Business Bestie Program, something I tailor-made for this particular student, but I may open up in 2025 after how successful it's been for her. If you're curious, reply with Bestie? or head here to read more about working with me.​

I also had so many INCREDIBLE 90 Min Noodle Sessions with some super talented creatives, helping them cure that problem they had been munching on for way too long that was costing them time, money and mental calories. I even had one who turned the $497 session into 9 GRAND worth of work and helped them take that first step into full-time freelance. Insane and so proud.

So that's the year wrapped up!

I want to take a second to say how TRULY grateful I am that you are here and that each week you let me live in your inbox. I'm so grateful to be the little voice that cheers you on to charge more, to gain confidence and clarity in the business side of freelancing.

And I cannot wait to see what you and I do together in 2025.

Because future freelance Reader deserves more.