FFN #19: Tips For Thriving in Q1

📸 Think of The Big Picture

The New Year is the perfect time to set new goals and intentions for your business, because let’s be real for most of us, December was a whirlwind which meant very little planning happened for Q1 (or maybe that was just me?!). Before we set any goals I like to perform a SWOT Analysis. This highlights areas of the business that are thriving and others that are falling behind. Once we’ve identified what’s working I’ll set a few big yearly goals, then reverse engineer them into quarterly, monthly and then weekly actions. I’ve found this the most effective way to achieve my goals. To aid with my goal setting I’ve been using Goal AI. The software is great, once you’ve set your goal you simply plug it in and watch as the AI delineates tasks, hones strategies and evolves through the feedback.

💰 Setting and Meeting Income Goals

The gender pay gap in remote work is still sadly, alive and well. That's why we created our Rate Transparency Database so you can start charging what you deserve. So many of us hate to talk about money, for many reasons, it can be a taboo topic. However, we can’t set goals for Q1 without talking about how much we’d like to make, setting income goals can feel a little uncomfy sometimes but it’s a must! When I set my income goals I calculate two numbers; my base income (how much I need to survive) and my target income (that number that makes you sweat with fear and excitement!). Let’s break down how I reach my income goals: 

1. It’s okay to say ‘No Thank You’.

Each time you land a project, look at it objectively to see if it will meet or hinder your goals. Resist the temptation to cram your schedule with low-paying projects, as this may deplete your energy for more lucrative opportunities. 

2. Market, Market, Market!!! 

As a freelancer time is money. While it's tempting to fill your schedule to the brim with projects, sustaining and growing your income requires ongoing marketing, pitching, and selling of your services. Consistency is key, so allocate a few hours each week to these activities to ensure the continuous flow of business.

3. Set up reliable sources of income. 

Secure a foundation through retainer clients. Cultivating a pool of retainer clients provides a steady income stream that forms a solid base for further expansion. Explore longer contracts on our Jobs Board to fortify this foundation.

💃🏼 Taking action

After setting your goals, it's time to put that plan into action. For many of us, the goal will be to scale our businesses, involving tasks such as researching and pitching to potential clients, updating websites and portfolios, expanding networks, and optimizing invoicing systems. To stay motivated, I create vision boards on Canva, regularly check in on goals, and celebrate and reward myself when I reach them. For those struggling with sticking to goals, finding an accountability partner in the Facebook group can provide the necessary motivation and support. Remember, it's okay to reassess or pivot if goals no longer align with your journey.

Golde’s Ceremonial Matcha

Sometimes snack hour arrives, and I’m not hungry- there, I said it!! However, my perpetual need for a beverage persists. Lately, I’ve been deep-diving into all of the health podcasts and discovering the benefits of matcha. I adore Golde’s ceremonial grade matcha, free from any additives. It's a nice balance of earthy and sweet which makes it perfect for any first-time matcha drinkers out there! Golde, conceived in a Brooklyn one-bedroom apartment by Trinity Mouzon Wofford, not only brings us this delightful matcha with 100% natural, vegan ingredients but also donates 1% of every purchase to a non-profit of your choice.