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Thrive Design Co.'s 2022 Year-End Review: What a Year!
Can you even believe 2022 is almost over? I swear, the older I get, the faster time flies. And this year—wow—it was monumental for Thrive Design Co. Honestly, I didn’t realize just how monumental until I sat down and did my annual year-end review. Spoiler alert: this year was incredible, and I’m beyond proud of the growth and transformation I’ve seen.
Now, if you’re wondering what a year-end review is all about, it’s where I take a deep dive into my business to get the lay of the land. I analyze everything— what worked, what didn’t, where I excelled, and where I can level up. It’s all about setting Thrive Design Co. up for even more success in the coming year.
Here’s a breakdown of what I dig into and how I take stock of the year:
Financials: The Heartbeat of Every Business
As a solopreneur, it’s essential to understand your numbers inside and out. So, I look at it all: revenue, expenses, profit margins, what I’m paying myself, and where I need to invest for the future. Here’s what stood out for 2022:
I tripled my revenue compared to 2021. TRIPLED. When I saw that, I was like, is this a joke?! Hard work really does pay off.
Along with that, I tripled what I paid myself from last year. While I’m still working on raising my salary to where I want it to be, this is a HUGE milestone for me.
My most profitable months were July and April.
October and November were my least profitable months—no doubt due to my website being “down” for a revamp during that time (this just goes to show how important a website is!)
My profit margin for 2022 was a solid 67%, which means my business is financially healthy.
2023 Financial Goals:
Double or triple my revenue again. Yes, we’re aiming BIG.
Pay myself more so I can comfortably upgrade my life (and finally buy a new car that I so desperately need!)
Invest more in marketing and advertising— it’s time to go all-in on my own business growth.
Take a hard look at my expenses and trim what’s not necessary.
Lead & Project Metrics: Where Did My Clients Come From?
This year, I took a closer look at where my leads and projects were coming from. Unsurprisingly, Instagram was my top source, accounting for over 33% of my leads. Despite my own website being down for a few months, I still saw strong lead generation from social and word of mouth.
70% of my projects in 2022 were website design (which totally makes sense, since I’ve been laser-focused on those this year!)
15% were branding projects, which was fewer than in 2021, and something I’m looking to change in 2023.
8% were SEO projects, and the remaining 7% were a mix of web maintenance and retainer services.
Notable Wins:
A 50% conversion rate on leads turning into actual clients.
Despite a temporary site downtime and not posting as consistently as I’d hoped, Instagram came through in a major way for lead generation.
2023 Lead & Client Goals:
Work with more businesses in the food/beverage, health/wellness, and photography industries—because those projects have truly been my favorites!
Double or triple my number of leads from this year.
Improve my client experience to generate more word-of-mouth referrals (you know I’ve got some plans cooking for this— stay tuned for more on that soon).
Quality of Work & Client Satisfaction: Did I Deliver?
I always love looking back at the feedback I got from clients throughout the year. Reviews, testimonials, and those random DMs saying how much they loved their website— those are the best. Overall, client satisfaction was high this year, and that’s something I’m proud of.
Dream clients? Yep, I worked with several this year, and I couldn’t be more grateful. Nothing beats working with people who are just in sync with your process.
One area I’m reflecting on? I want to get better about asking really insightful questions on discovery calls. I’m planning to build out a super-detailed questionnaire for 2023 to ensure we’re always on the same page from the start.
2023 Client Experience Goals:
Streamline the discovery call process to set clear expectations and make sure we’re a good fit.
Book more branding projects— I worked on a lot of websites this year, but I miss diving into the creative world of branding. So I’m shifting focus a bit to try and balance promoting both!
Press, Collaborations, and Milestones: Big Moves in 2022
This year, I collaborated with some truly inspiring creatives, and those projects were a blast. One of the biggest highlights? Coco’s Bake Shop. It was a colorful, pastel-filled dream of a website project!
Another standout project was the brand identity and label design for Cottonwood Creek Herbals. I can’t wait to help them take the next step with a new website in 2023.
General Observations & What I Learned:
Despite not posting much on Instagram and feeling a little creatively burnt out, I still generated a lot of leads from that platform— so imagine what could happen if I actually post consistently in 2023!
I didn’t focus much on SEO this year, but that’s going to change. I’m committed to improving my own site’s SEO and leveraging it as a lead-gen tool.
I realized I need to refine my brand messaging and strategy— get into the heads of my ideal clients and make sure I’m speaking to them directly.
Continuing education is a must. I didn’t have a ton of time for it this year, but I’m carving out space in 2023 to level up my skills and knowledge.
To Sum It All Up
2022 has been Thrive Design Co.’s best year yet, hands down. Tripling my revenue? Working with dream clients? Redefining what success looks like for my business? It’s been a ride, and I’m so thankful to everyone who’s been part of it.
I’ve got big goals for 2023— more leads, more branding projects, and more consistency across the board. It’s all about growth, both personally and for the business. If you’re ready to take your brand or website to the next level, let’s talk! I’d love to work with you and help your business become one that people can’t stop talking about.
If you’re feeling inspired to do your own year-end review and want a detailed checklist of what I look at, shoot me an email! I’d be happy to send it your way.
Cheers to an amazing 2022, and here’s to an even better 2023!
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