Recap 2024: Highs and Lows of Running a Solo Business

I just wrapped up my second full year of freelancing (huzzah!). I know a lot of freelancers struggled this year, but I had more demand than ever for my work. My gut says this is partially due to my niche focus — fintech — which is heavily dependent on human-crafted, expert content and hasn't been disrupted much by AI content.

I had a 16% increase in earnings compared to 2023, and my average rate was $0.95/word. I also have earnings from Substack, Medium, and Gumroad, but they're a small percentage of my total income. I worked 47 out of 52 weeks in the year, taking five full weeks of vacation throughout the year (which I plan and save for). I also took various days off for holidays, kid events, etc.

I wrote for 22 different clients throughout the year. 12 were new clients, and of those, 10 were either inbound inquiries or came to me via referral or my own networking efforts. The most deliverables to a single client was 33. I had three clients with a single deliverable: one had mass layoffs the day after I turned in my article, one was unsure of their content strategy and decided not to proceed, and one hired me for a specific media placement, and I hope to work with the company again in 2025.

I had to chase down one client for payment. I finally informed the client of the Freelance Workers Protection Act in Illinois, which would entitle me to double the amount of the invoice as damages. The invoice was then paid later that same day... and I immediately broke up with the client after that.

Financially, it felt like a really good year. Here are the other highs and lows of working for myself.

Highs ⬆️

• Brand: I underwent a brand overhaul and worked with a designer to get a more consistent, polished look.
• Marketing: I had a goal to be a guest on 12 podcasts and met that goal. Podcast guest appearances are one way I market myself.
• Audience: I hosted both joint and solo webinars, talking about various topics related to freelancing.
• Team: For the first time, I hired outside help. I hired a bookkeeper and a virtual assistant to help with my work.
• Products: I launched a new course on authentic writing and a new eBook on AI tools for solopreneurs.
• Consistency: I committed to posting more regularly on my blog, which has SEO benefits and helps familiarize people with my personal writing style. Published articles are cross-posted to Medium.

How to Produce Content Consistently as a Solopreneur

Processes are key.

Anna Burgess YangAnna Burgess Yang

Lows ⬇️

• Video Editing: I wanted to focus more on video this year (including YouTube), but struggled with editing and fitting it into my routine.
• Guest Posts: I like to write guest posts on other sites and did fewer this year than in 2023, which is a missed opportunity.
• Too Focused on One Social Platform: I wanted to spend more time on Threads, because I think it's dangerous to put all eggs in one social media basket. But I continued to prioritize LinkedIn.
• Product Promotion: I didn't do enough to re-promote existing products on Gumroad (though I continue to include them at the end of every blog post I write).
• Education: I purchased Amy Porterfield's Digital Course Academy with plans to launch a course in 2025. The course included 12 weeks of an online community with other enrollees. However, due to some personal stuff I had going on, I didn't take advantage of this. I still have access to the material and coursework, but now will be on my own.
• Personal Writing: I failed to prioritize my personal writing, often overriding my Friday afternoon writing time with either client work or internal admin work. I need to enforce this boundary better.

Goals for 2025 🌟

Basically, most of my lows for 2025 have turned into my goals for this year.

• Income: I'm comfortable with my income from client work, but want to increase income from other sources (Substack, Medium, Gumroad, etc).
• Video Content: I'm determined to figure out how to create video content in a way that doesn't feel like a chore.
• Social Media Engagement: I'll focus more on Threads (and possibly Bluesky). I'm also letting go of platforms that aren't doing anything for my business (Instagram).
• Product Marketing: Come up with a dedicated plan to re-promote my existing products.
• Course Development: Still have plans to launch a course for solopreneurs in fall 2025.
• Personal Writing Time: Protect my Friday afternoons for personal writing.

New year, so it's time to re-think you pricing! I’ve created a free resource for fellow writers. It outlines my rates, how I think about pricing, and how my pricing has evolved over time.