Being an entrepreneur can have highs and lows. Depending on how you were led to start a business and your niche, you may have already had a following or general idea of interest in your products or services. Some people start out of the gate with strong revenue, but others may have to start at the bottom and scale their businesses over time.
So, let’s start from the beginning. I have officially had my graphic design business since 2014. In the early years I will say that it increased in revenue each year, however it was never generating enough to live off of completely. Now 10 years later, I can say for sure that things have definitely changed. Of course, the more you have to work a regular 9-5 the less time you have for design so there is always a balance when you are still working full-time for someone else.
There was also a period where I stopped offering freelance design outside of retainers. It had become unrealistic to have clients who only needed one flyer every six months or who would order larger cost projects once a year. I could never depend on the money because I might go six months with no orders and then have six months where everybody wants one thing. Again, not enough to live off but supplemental to my main job.
So, how much have I made in 2024 so far? The grand total is 805.32. With only four months left in the year, I predict I likely won’t make anything from the design side of the biz and so I have decided to focus on the product side where I use various online vendors to create products that they dropship etc. with my designs on them. The design side has completely dried up and retainer clients can no longer afford retainer accounts or are simply opting to use services like FIVERR or CANVA to lower the cost of their design needs.
So, as the end of 2024 approaches, I am hopeful that maybe a burst of interest in the products will help keep us going into 2025 but if not, I will reevaluate because it may become where the cost to keep the business open will be more than the business is actually generating. While I would prefer for the business to be a dependable supplement to my work income so I don’t feel the need to work multiple jobs to make up for what is no longer coming in, it’s just not become that for me thus far.
If you are an entrepreneur, what do you do to supplement your income? Have you been able to scale your business progressively each year since opening? Let us know in the comments.