5 things to review before you start the new year
Hi Friend,
As the year winds down, it’s natural to start thinking ahead. Whether you had a banner year or one you’d rather forget, now’s the perfect time to take stock and set yourself up for success in the new year. Here are five key areas to review, reflect on, and adjust—because even seasoned freelancers (like me!) occasionally find themselves out of balance.
1. Your business plan
Your business plan is like a map—it’s easy to get off course if you’re not checking it regularly. Take a look at what you set out to achieve this year. Did you follow through? Did your goals shift? Maybe you discovered a niche you love or a service that’s no longer worth your time. Use these insights to tweak your plan for the coming year. No need to write a 30-page document—a few clear, actionable goals will do.
2. Your pricing
When’s the last time you reviewed your rates? Costs go up, your skills grow, and your time becomes more valuable. If you’ve been charging the same prices for a while it might be time for an increase (review your prices every year to see if you could stand to increase your rates).
Look at your income and expenses from the past year. Did your rates cover not only your bills but also savings and growth? If not, it’s time for a pricing update. (Pro tip: If you feel nervous about raising rates, remember that your clients value you for a reason. Also remember that you’re stuck paying the same higher cost of living as everyone else around you.)
Let's talk about greed
Whenever I chat with freelancers—or those dreaming of diving into the freelance world—pricing usually comes up. And more often than not, I find myself urging them to charge more for their hard work. But you know what response I hear all too often? “Yeah, I get it…but I don’t want to seem greedy.”
3. Your target clients
Freelancing is all about relationships, so it’s worth asking: are you working with the right people? Review your current and past clients. Who made your year easier and more rewarding? Who left you dreading emails? As you plan for next year, focus on finding more of the former and (politely) phasing out the latter. It’s okay to evolve your ideal client profile as you grow.
A lot of people focus their “ideal client” list on industries, incomes, or specific services needed. Those are a great starting place, but ask yourself about the characteristics of the people you want to work with. I like working with people who are low-stress, affable, and have a good sense of humour. That’s who I tend to get along with, so those are qualities I look for during introductory meetings.
(If you’re wondering about marketing yourself to clients, get my free guide to updating your LinkedIn profile using keywords. I give you six easy steps you can take to add keywords to your profile so you get found in more LinkedIn searches!)
4. Your goals and priorities
Set new goals for the year ahead, but don’t overload yourself. Think about what’s most important to you—whether that’s earning more, learning a new skill, or taking a well-deserved step back.
Where do you want to be in 1, 3, or 5 years? Use this time to dream big and reflect on whether your current trajectory aligns with those ambitions. If not, what small steps could you take next year to move closer to your ideal freelancing career? Remember, it’s the decisions you make today (and on a regular basis) that wind up shaping your trajectory. Make sure the decisions you make today align with where you want to be in the future. It’s okay if your goals and priorities shift as you evolve, but it should be somewhat intentional.
Prioritize goals that excite you and align with your values. Remember, progress isn’t always about doing more; sometimes it’s about doing what matters most. For some people, it’s about making a certain amount of money. For others, it’s about working on particular projects, offering a new service, or working overseas.
5. Your overall wellness
Let’s get real: how did you feel this year? Did you burn out? Skip vacations? Forget what a weekend is? Work through illness? Work too many 12-hour days? Are you feeling energetic and motivated as we approach Dec. 31 or are you limping towards the holidays? Did you miss out on too many important memories because you were always working?
Freelancing gives us freedom, but it also makes it easy to overwork. Take time to reflect on your habits and boundaries. Find ways to automate what you can and incorporate activities that give you joy. Schedule holidays now (seriously, get that calendar out!) and plan ways to maintain balance—like regular exercise, creative hobbies, or simply saying no to that one more project.
How I (mostly) avoid burning out as a freelancer
Freelancing is a bit like being a squirrel—constantly gathering nuts when the weather’s nice, never sure if there’ll be enough when the cold season hits. And just like a squirrel, I’ve learned to hustle when times are good and hide under the nearest tree stump (or blanket) when it all gets too much.
It’s okay if the past year didn’t go exactly as planned. We’ve all been there. The important thing is to learn from it, adjust, and keep moving forward. Taking a little time to reflect on these five areas can make a big difference in how you approach the new year.
What’s your top priority for the year ahead? I’d love to hear it! Let’s make this your best year yet.
Here’s to your ongoing freelance success,
Heidi