2020: A (2nd) Year In Small Business Review

I had never thought about writing a business year in review before. Frankly, I didn’t know it was such a thing! But receiving some from other small businesses like Freya Rose Tanner, Moyo Studio, and Ashley Srokosz were truly inspiring. The honesty and transparency they expressed made me feel not so alone as much as a solopreneur during a pandemic can be. So here goes mine!

OVERALL:

Heading into 2020, I was excited about “getting rolling” into my second year of business. I felt as though the first year of sweat, tears and lots of typing was moving into a smoother more balanced zone. I spent a lot of time networking and making connections and learning so many great (and sometimes hard) lessons about client relationships, value of time etc. I made some larger equipment purchases and stared renting studios almost exclusively for shooting which upped expenses.

FINANCIAL: Despite the uncertainty of the year and the periods of extended lockdown and quiet, the fall of 2020 came back strong for my business. It lead to a lot of work in a shot period time but we made it. All in all, 2020 earned almost the same amount dollar for dollar in sales as 2019 which came as a surprise honestly, but I think all of the relationships built I built in 2019 helped with that. BUT… I had a lot more business expenses this year which lead to a lower take home than 2019. All of this was a wonderful learning experience, and pushed me to raise my pricing.

PERSONAL: 2020 has made many of us have to reevaluate ALL OF THE THINGS. The things we hold dear, the things that are important and then things that do and do not bring us joy. Nothing has been more importantly highlighted though than that of our health. Walking around worried about exposure to an invisible virus is just a tad bit anxiety producing for most and keeping our cool and maintaining mental health has been more important that ever to our family. It has made us make decisions about how we spend our days differently, and for that I think we are better.

LOOKING FORWARD INTO 2021: Trying to continue to plan anything concrete from month to month has been next to impossible. Instead I have been and will be focusing on what I can accomplish from day to day. Turns out, business still comes in if I don’t have three months mapped out and that has been comforting and something I will remember every time that scarcity complex comes creeping in. I am hopeful I will continue to meet and collaborate with more amazing clients. So far in 2021 I have been lucky enough to build new client relationships, complete 5 full web design projects, 10 shoots and 5 new brand identities with some of the most genuine and passionate business owners and I look forward to seeing that the other half of the year holds.

xx

Dana