The beginning of a new year is the perfect time to take stock of your business and do a year-end business review—where you are now and where you’d like to be this time next year. I think this is especially important right now. 2025 was a very hard year for almost all of the freelancers I know, including me. Budget cuts, tariffs, and rising prices forced many creatives to scramble and pivot, so the slower pace of the holiday season offers valuable time and space to objectively look at the data and ask some hard questions.
Take Stock Without Judgment
First, look at the numbers objectively:
- What was your actual income compared to previous years?
- Which clients or projects were most profitable?
- Which took the most time for the least money?
- Where did you spend your marketing efforts?
- What worked and what didn’t?
Having real data to review removes the emotion and enables you to really see how your year went. In my case, the first half of 2025 was the slowest I’ve been in recent memory, but things picked up in the second half. I ended the year down about 15% from the previous year, but I actually have more cash in the bank and am in a better position than I was last January. Seeing those numbers is much more helpful than just feeling my feelings, and it gives me information I can act on.
Revisit Your Foundation Questions
Now that you have an accurate picture of where you’ve been, take a look at the first section of Good Work! and review the foundation questions.
What parts of your job do you like best? What parts do you like least?
If sales are down, is it partly because you’ve been pursuing work you don’t actually enjoy? Where have you felt energized versus drained this year?
Are you working with the right clients?
Who were your favorite clients this year and why? Are you targeting the right market, or has it shifted? If the market has changed, maybe you need to adjust your services or pricing, or even pivot to a different industry or client type.
What did your marketing look like last year?
If you weren’t marketing yourself consistently or relied too heavily on referrals, this may be why sales were down. If you were consistent, maybe you need to try a different type of marketing or speak to a different audience. Pick one or two marketing methods you’ll commit to consistently in 2026, even when you’re busy.
Are you charging enough, especially if your expenses are up?
It can feel risky to raise rates when everyone seems to be struggling with budgets, but you need to make sure you’re charging enough to make the work worthwhile and cover what you need to cover. There are clients with money out there, in all industries—sometimes it just takes some sleuthing to find them. If you don’t feel comfortable raising your rates across the board, try it with some new clients and see what happens.
Which of your clients is no longer a good fit?
If you have clients who are draining you emotionally or financially, the new year is a perfect time to let them go and make room for the ones you really want to work with. And if you’re too dependent on one or two big clients, make it a goal this year to expand your roster. Especially when things are in flux, having a mix of clients is the best way to go. I find that when my nonprofit clients aren’t able to use me as much, my for-profit clients often make up the difference (and vice versa).
Do you need support?
If you spent 2025 spinning your wheels and trying to do too much alone, look for tasks you can delegate—especially if hiring help removes you as a bottleneck or frees you up to focus on billable work or business development. It can be hard to justify paying someone else to do something you’re fully capable of doing, especially when times are tough, but if it gives you the time and space to pursue bigger, better clients, then it’s worth it.
Create Your 2026 Action Plan
Based on your reassessment, commit to three to five concrete changes:
One marketing commitment, even if it’s small. Consider a monthly or quarterly newsletter, weekly LinkedIn posts, or quarterly outreach campaigns, and then commit to doing it regularly.
One pricing change. Raise rates by a percentage, implement project minimums, or add a rush fee. Try it out and see what works.
One client decision. Graduate a problem client, pursue a new target market, or strengthen relationships with your best clients by keeping in touch more consistently.
One delegation. Pick one task (hire a bookkeeper, bring on a contractor, automate something) and notice what it does for you in terms of freeing up time or energy.
One self-care boundary. Whether it’s no weekend work, one vacation per quarter, or a 15-minute daily walk, choose one feel-good activity and make it a habit.
Remember: You Can Change Your Business At Any Time
A hard year doesn’t mean failure. It means you have data. Use that data to make 2026 different.
You don’t have to fix everything at once. As I say in the book, there’s only one way to eat an elephant: one bite at a time. Pick the one or two changes that will have the biggest impact, and start there. The flexibility to pivot and adapt is one of the greatest benefits of being your own boss—so use it.
Block off a few hours before the new year begins, grab your favorite beverage, and work through these questions honestly. Then commit to your top priorities for 2026.
You’ve got this.