The Big 2022 Review of my Online Education Business
This pretty much sums up my 2022! 😉
Happy new year!
2023 is here and I think we’re all ready for the upswing after three pandemic years and a lot of upheaval in a rapidly changing world. As we enter into 2023 there is still a lot of uncertainty and fear as the war in Ukraine continues, a recession is looming, and the political divide keeps deepening. Nonetheless, I am also feeling a sense of hope and a positive shift in energy. It’s very subtle but it’s there.
Like last year I am starting the new year by closing out the old one with a big annual review. Grab a cup of coffee or tea and enjoy this in-depth look behind the scenes of an online education business.
Affiliate Notice: Please note that this post contains affiliate links which are denoted with a star*. If you make a purchase through these links I get a small kickback, at no extra cost to you. Thank you!
1. Highlights
This was not planned: we spontaneously bought a sweet little house next to a small airport runway!
Squarespace launched Fluid Engine, their new editor for 7.1, which meant redoing most of my Express course to reflect the changes.
Taught two Squarespace classes for the “Kickstart your Business at 50+” program.
Presented my talk on 5 Strategies to Book New Clientsat Squarespace’s first Circle Day (from a hotel room as we were in the middle of our move, see photo above!)
Had three Ask Us Anything sessions with my friend and fellow designer Christy Price and did a few awesome podcast interviews.
The 2023 Eule Planner sold out before Christmas! This was by far the easiest and fasted year for Eule sales. As soon as I opened up pre-sales it started flying off the shelves. There were lots of returning customers who’ve been using it since it first launched in 2019. Thank you so much!
Meeting two fellow Squarespacers in person: Nick from Squareskicker and Joanie from Jig Creative, who created the awesome logo for Ginger, our plane! Nick went for a flight in Ginger and then we spent a few fun hours by the sea, chatting about Squarespace, running an online business, and life. Joanie’s kids also went for a flight and then we had a lovely lunch, also by the sea :)
On the personal front it was a busy year: visits from family and friends, meeting old and new friends in person for the first time in two years, some health challenges (eye surgery, new blood pressure meds, Covid), and - of course - the big move to a house next to the runway of a small municipal airport, a pilot’s dream come true! The move basically upended our lives, and between that and getting Covid in the fall my business went into auto-pilot mode for the remainder of the year.
2. Income & Expenses
Income Streams
Online Courses + Bundles
Eule Planner
Affiliate Earnings
External Teaching
Miscellaneous (webinars etc)
This was my fifth six-figure year in a row, which according to Rachel Rodger’s growth scale puts me amongst 6% of US woman-owned businesses. I am proud of what I’ve built, especially without the hustle or ads, and with an audience that is growing slowly and organically.
For the first time in eight years there was no growth but it was still a very good year. I am grateful to have a business that can ride the waves of economic uncertainty and disruptions in my personal life, like the move. I am not worried about the stagnation in revenue, it doesn’t upset or alarm me. I know that I have a solid business and that we will continue to nourish and take care of each other.
Expenses
Hustlers rarely talk about expenses when they shout out about their six- or seven-figure businesses. In my case payroll (my salary) and taxes continue to be my largest expenses, no surprises there. My expenses were a staggering 80% of my revenue last year! Now, that does include my salary but my spending has also gone up and income has gone down. Mind you, I probably overpaid on my quarterly taxes as they were based on estimated growth which did not happen. So I expect I’ll get some money back from the IRS this year!
Like I said last year, I don’t pinch the pennies and it’s important to me to pay people well, and I also reinvest a good amount on gadgets and technology. My business has never been in debt and given my personal history with money that in itself is pretty amazing.
3. Top Sellers
Bundles made up 65% of my course sales last year, which I am very happy about! Having multiple courses and bundles has been a key factor to growing my business. I do a lot of cross-selling to my existing audience while also attracting new customers with the exceptional value of the bundles.
4. Products I offered in 2022
Courses
All are retired now, so no links.
Squarespace Express (Design a 7.1 website)
Squarespace Classroom (Launch an online course with Member Areas)
Squarespace BizBox (Blueprint for building your own web design business)
Squarespace SEO Plus (Boost your SEO!)
How to get more clients (For 1:1 service providers)
Bundles
All are retired now, so no links.
Course Creator Bundle (Express, Classroom, SEO Plus)
Designer Bundle (Express, BizBox, SEO Plus)
Premium Bundle (all courses)
Other
5. My Top 10 Affiliates
My new home office
These are my top affiliate earners and also favorite companies to work with. My affiliate income has gone up a little in 2022 but there is definitely room for improvement! I plan to retake my friend Christy's awesome Make Money with your Blog course (link below) to ramp up my affiliates in 2023.
Legal
- Termageddon: BEST Privacy Policy generator.
Finance
- Quickbooks Online: I reduced my bookkeeping from hours to a few minutes, love it!
- Dext Commerce: Bookkeeping extension that saved my sanity! Use code KERSTIN10 to save 10%.
Squarespace Plugins and Tools
- SQSP Themes: Awesome Squarespace Plugins.
- Ghost Plugins: More awesome Squarespace Plugins!
- Squarespace Website Tools: Must-have Squarespace tools for designers and advanced users.
Awesome Courses for Entrepreneurs
- Make Money with your Blog: Generate affiliate income and convert readers to clients.
- Scale with Templates: Scale your business with a Squarespace template shop.
- SquareStylist Member Area Navigation: Game changer for Member Area users!
Creative Tools
- Moyo Studio: Beautiful mock-ups and stock photos.
6. Engagement Statistics
With Valerie Day and Angie Mizzell - online friends becoming real life friends!
People are often surprised that I have a consistent six-figure business with such a modest audience. In the past I stressed a lot over growing my subscribers and followers until I realized that the pace at which I am building my business is perfectly aligned with my personality and way of working. At my core I am a relationships person and the way I engage my audience is very much reflected in these numbers.
Social Media
Studio Notes subscribers: 4,138 (+25%)
Instagram followers: 2,789 (+ 15%)
YouTube subscribers: 933 (+ 200%!)
Facebook Page followers: 923
LinkedIn followers: 371
Blogging + Newsletter
Newsletters sent: 26
Blog posts published: 15
Guest posts on other blogs: 2
Guests on my blog: 0
Podcasts + Webinars
I was honored to do a presentation for Squarespace Circle Day, it was awesome!
Guest on podcasts: 3
Webinars hosted and co/hosted: 4
7. Software I use to run my business
I am a big proponent of keeping things simple. I use Squarespace for most of my major business functions and just a few other apps to optimize and streamline my workflows.
1. Squarespace*
Squarespace has evolved into an awesome all-in-one platform for us solopreneurs! I use it for my website, email marketing, online courses, selling my Eule Planner and scheduling Ask-Me-Anything sessions (which are coming back in 2023!). Plus Unfold for my Instagram bio and planning.
☞Try Squarespace and save 20% with code KERSTIN
2. Termageddon*
Best policy generator out there, with awesome customer service! Termageddon will help you protect your business from fines and lawsuits in less than 30 minutes. Not sure if you need a policy? If you have a website where you collect email addresses, or sell products or link to other websites – you need a Privacy Policy and most likely a Disclaimer and Terms of Service, too.
☞ Try Termaggedon and save 10% with code KERSTIN
3. Quickbooks Online*
QBO was a steep learning curve but once I got it I fell in love with it! I do all my own bookkeeping and between Greenback and QBO what used to take me hours now only takes minutes. Plus, my accountant has easy access to it (they manage my payroll and handle the annual tax filings). Game changer!
☞ Try Quickbooks Online and save 55% with this link
4. Dext Commerce Extension for Squarespace
I use this extention to send commerce data from Squarespace to Quickbooks Online. This extension changed my life and made my bookkeeping so much easier and faster!
☞ Try Dext Commerce and save 10% with the code KERSTIN10
5. Apple & Google
For documents, spreadsheets, surveys and forms. My VA and I use Apple Notes for our day-to-day communications and we love it!
☞ We wrote a blog post abouthow we use Apple Notes
8. Coaches I worked with in 2023
Even though I am a solopreneur by choice that doesn’t mean I am alone. I work with a part-time VA and strategist (the wonderful Shauna Reid) and Chris Schwartz-Edmisten who helps out in my group. I also hire specialists when I need help with something specific that I cannot do myself, or when I feel stuck with something. This year I worked with these three awesome coaches to help me through the sticky spot of preparing my business for a pivot.
1. Sarah Moon | SEO Fueled Movement Marketing
Sarah is my go-to person when I feel stuck and need some "Sarah Sanity". I reached out to her in the summer when it became clear to me that I wanted to make some changes in my business and focus more on my fledgling Calm Business Movement. Using her brilliant Aligned Authority™ framework she not only took a deep dive into my SEO but also came up with three effective ideas for pillar posts and a roadmap for strengthening my content marketing. Sarah's strategic brain is very impressive!
2. Natalia Sanyal | Anti-Oppressive Conversion Copywriter
I found Natalia through Sarah and was immediately drawn to her ethical marketing approach and strong, clear messaging. In only 90 minutes Natalia identified the essence and framework of my business and returned with the most awesome one-liners and supporting messages that, as it turned out, were perfect for helping me through the sticky middle of this transition. When I want to pivot it is tempting to abandon everything and turn all my attention to the new thing, working with Natalia helped me keep my business on an even keel while preparing for the changes. She also gave me a brilliant new headline for my homepage: "Business Feels Better This Way" – I absolutely love it!
3. Sophy Dale | Copywriter & Business Coach Extraordinaire
I've known Sophy for a long time and she is another go-to person when I need clarity and direction. Her Unlock Your Message package is amazing. Not only did it provide me with deeper and more targeted messaging for my website, the business coaching element also helped me get a clearer understanding of my next business evolution. I walked away with much needed clarity about the new direction of my business, and how to put it into words.
9. Five lessons learned
My business has my back. It is so well optimized that it can run on auto-pilot for a while.
It takes a village to run a successful online business; even as solopreneurs, we never do this alone. I love my village!
It’s ok to do business my way. Human Design is changing how I approach my business. The more I learn about my 3/5 Projector profile, the more I embrace the way I do biz and life. It’s very liberating.
I don’t like working reactively. Squarespace made so many changes this year; it was hard to keep up. For next year, I am creating a better, calmer workflow around this.
I love my business and community! ❤️
