Every month we run through a series of questions to help you run your freelance business like a bigger business—“self-coaching” your way to better results and a better life.

 

It’s Reflection & Assessment month!!

 

I’m going to remind you to fill yours out but we’re also going over 5 secrets your money want to tell you…and what they mean for your freelance business. This week we’re covering…

 

Year-to-year and business trajectory

 

So this takes a few years of experience, but it’s highly informative.

 

Once you’re three or four years into your business, you should be able to take a look back and see what direction you’re headed in.

 

When I did this around year 5, I saw very slow growth, but then a couple of jumps…mostly aligned with when I raised my rates. That’s how I realized that my rates were the #1 determinant of what I earned.

 

Sometimes you’ll look back and see dips. But those dips are information, so make sure to document changes in your business.  (Personally, I keep notes each year of why my rates might have increased or fallen—I stepped back on marketing, a big client cancelled and I needed time to sign someone new, whatever.)

 

Tracking income year-to-year is how you paint a bigger picture of your business…and how you build confidence in yourself as someone running a sustainable freelance career. So keep those yearly numbers going in your Reflection & Assessment spreadsheet.

 

 

If you aren’t sure about some trends you’re seeing, come by the Academy boards and let’s talk it out!

 

 

 

 

Megan