2021 was a huge year for December Oak. In 2020, we were so close to closing our doors and it was the hardest year in the business since we’d begun. When I rang in the new year in 2021, I wondered what December Oak would look like. Thankfully, so many things clicked into place finally after years of hard work and we had our best year yet! In today’s post, I wanted to share an income report with you of how we did, what worked, and what didn’t.
Why are we sharing this? When I first started, income reports were so helpful to me as an entrepreneur. So few designers shared not only their income but what they invested into their business to get there. We all see the designers sharing they make 6 or 7 figures but never the profit margin, the expenses, etc. It can feel like you’re behind when really, you’re almost there. I want to share my own income report with you because December Oak believes in transparency and uplifting our community by showing them what’s possible. For this calendar year, I’ll be sharing our journey to a number that feels really scary right now but I know with the work it takes, we can get there. And I want you along for the ride.
2021 Year in Review Income Report
Total income: $166,007
Of that total number, $1,517 came from affiliate income when I promoted apps and tools I use and people used my link to sign up. $58,400 was from my signature course The Art of Conversion Driven Design. I didn’t make any money from my shop in 2021 (but plan on changing that in 2022). I made $106,036 from working with clients on custom websites.
Total expenses: $91,882
This was a big year of investing for me and this was on purpose. I wanted to cross the $100,000 mark after being in business for 7 years and I did it! But that included taking on more projects, larger scoped projects, and diversifying my income. That took a small but mighty team, hiring a copywriter, and enrolling in high ticket programs. That’s where most of my expenses went.
I booked my two highest paid projects this year and that really enabled me to invest in the other areas of my business. My team has been invaluable in growing December Oak and the two group coaching programs I invested in this year, Design Biz Mastery by Morgan Rapp and The Accelerator by Mariah Coz, paid themselves back tenfold for me. Running ads this year was also a great decision I made that lead to a lot of evergreen course sales.
What Didn’t Work
I wasn’t think enough about profit and how much I needed to pay myself. While yes, I had decided this was a year of investing, my profit margin was lower than I had originally planned. In 2022, I’m planning on investing much less but growing more. I want to build profit and pay myself more consistently like a proper paycheck. Which leads me to…
2022 Goals and Income Report
It’s scary to even type this number because it feels so far away, but the revenue goal for December Oak this year is $250,000. I never thought I could hit that number in my business but I feel it’s within reach. And this year is all about going big. Not only in numbers and money, but in supporting and uplifting our community. Again, I’m sharing this with you because I don’t think there’s enough sharing of real numbers, real possibilities, real steps forward in our industry and I want to lead by example.
How can you hear about our 2022 journey? We’ll be sharing a monthly income report exclusively to our email community starting in February, sharing January’s numbers. We’ll not only be breaking everything down to show where the money really comes in and goes out, but we’ll be sharing what worked and what didn’t and what you can learn and implement in your own business. Sound like a dream? Join us by signing up below!