8 Things I Learned During My First Year in Business

This month marked one year of being self-employed! When my full-time job ended in July 2021, this is a day I thought about, wondering where I would be with Bone & Bloom and hoping everything would still be working out… and I’m so happy to report that is. My first year in business has been a dream come true (literally), as I was able to reach a full-time income within the first few months, maintain that and increase it. I matching and exceeded my previous income thanks to a handful of clients in long-term contracts that I do social media content creation, strategy and management for, in addition to side short-term projects here and there.

Running your own business comes with new stresses, responsibilities and often an unpredictable schedule, but it also comes with countless blessings. I’ve learned so much in my first year and have gained such a passion for business, as well as admiration for women and/or mothers in business, like myself.

12 months in, here are 8 things I learned during my first year in business as a 28-year-old stay-at-home working mom.

1. Keep track of all expenses and income well.
Filing taxes as a full-time self-employed person is a whole other ballgame (though, admittedly, not as scary as I thought it would be). To make tax season not your worst nightmare, effectively track how much money you’re making, where it’s coming from, your business expenses, write-offs, etc. Cover your bases and it will be much more seamless.

2. A lot of time is spent on follow ups — allot time for that.
Working in the industry that I do, I already knew this… but it’s difficult to not be able to anticipate how heavy or light any given work day will be when you don’t know if/when clients will get back to you about moving to the next phase of a project. My advice for this is that if you yourself need flexibility (like I often do as a stay-at-home working mom), offer that in return. If you’re able and need to be more rigid with timelines, then set that precedent.

3. Capitalize on the often inevitable “hurry up and wait” schedule.
Branching off the topic above, if your business involves providing a service to someone that requires back and forth communication and an approval process, you’ll probably find yourself in a constant state of hurry up and wait. I hustle to make edits, then I have to wait to hear feedback before moving forward. This can leave you with random pockets of wait time throughout the day. I recommend keeping a running to-do list so when you do have free time in between tasks, you’re able to easily fill it with other things that need to be done (prepping for upcoming deadlines, tidying up the house, etc.) so the delays don’t cause you to fall behind.

4. Establish a late fee for unpaid invoices.
This is absolutely essential and, luckily, I’ve had this implemented since Day 1 because it’s a default setting in the client management service I use (shoutout to Bonsai). When your clients don’t have you on any type of autopay system (and many don’t if they are independent contractors), sending out your invoices a week before they are due and communicating that there is a late fee in place will help insure you get paid on time. Trust me, come out of the gate with this already set up!

5. Find what pockets of the day work best for you to work and make the most of them.
This specifically applies to being a stay-at-home mom while working. You may prefer to get up early and get some work done while your child is still sleeping, or maybe you like to work during meal times, nap time and evenings after they go to bed. Every day looks a little bit different for me, but the bulk of my work is done during nap time, in the evenings once my husband gets home and again after my daughter goes to bed. This keeps me very busy day-to-day, but I have some days of the week that are more full than others, so that helps me get breaks here and there.

6. It can be lonely, so make an effort to connect with people.
…and this is coming from a major introvert. When you go to an office every day, you get ready every day (something I hardly make time for anymore) and see/interact with other adults — whereas most days for me, I’m in sweats all day and don’t have a single adult conversation until 3:30 p.m. when my husband gets home. I don’t always mind this, but it can be draining and make you feel disconnected and isolated from reality and yourself. I find that FaceTiming friends and family, as well as getting out of the house by myself, helps me the most.

7. You’re (probably) always going to feel guilty for not working.
As a business owner, there’s literally always work that you could be doing. It doesn’t end at 5 p.m. There’s constantly more that could be done, whether it be continuing your email thread with someone, updating your calendar, sending invoices, preparing for the day/week ahead, posting on your business’ social media, and the list goes on. As a workaholic, this is even more heightened for me. I don’t have much advice to give in this area, as this is still something I still struggle with, but I just wanted to put it out there that this is so real.

8. Kick imposter syndrome to the curb and reward yourself for your success.
Before starting my own business, I had this idea of what success would look like… this thought of “if I can have make [X amount of money] each month, I’ll be good and feel secure.” Even though I reached and surpassed that, I can’t kick the feeling that everything could go away in an instant (which is such a toxic, self-sabotaging thought). In short, celebrate your wins, because in all honesty, every day you get to work for yourself (or do whatever it is that you want to be doing) IS a win. Take an evening off, buy that shirt you’ve been eyeing and take a long shower.

It’s been a year of finding new balance, working late into the night and no longer spending time doing things that felt like time wasters working a 9-5, all while being home and present to raise my daughter. What I’m doing now fits my lifestyle, desires and needs as a mom so well, and I’m proud of myself for a successful year and I’m super grateful for my amazing clients. I hope my daughter is proud of me too, you know, when she can comprehend what that even means.

Cheers to Year 1!