Strategic Consultant I Co-Founder of LookUP I Founder Board Women I Speaker I Writer I Advisor
2024 has been the most challenging year of running my own business I've had to date (and for many consultants and small business owners I know). At the end of 2023 three things collided. I'd reached the end of the road with multiple clients for whom I had done every bit of strategic work they could ever need & they were set for success. The agency and start up market lost confidence and stopped using external consultants. I'd made the difficult decision to end a relationship with my largest and longest standing client because of an extreme late payment issue, leaving a big hole in my revenue plan. Three things that saw a 12 year history of never going more than 2 weeks without work and having a big buffer to rely on, turn into multiple months of chasing down new business to no avail. I'm the main breadwinner in our family, and it was stressful, and shocking to realise that a business that I'd spent 12 years building could be so exposed to elements outside of my control. Luckily a fourth thing happened towards the end of 2023: starting LookUP with the brilliant Matthew Hook. Months of continued hard work to build a business that reflected the strengths of our joined experience, alongside picking up my consultancy and dusting it off and winning new clients paid off, and thankfully 2024 has turned into a success for both my businesses, but it taught me a number of lessons: ⚡ Never rest on your laurels: always be focused on building your network and building new opportunities ⚡ Work at creating multiple models of revenue generation: consultancy, products, coaching, courses, whatever works to harness your expertise ⚡ Don't undervalue yourself during times of financial stress: work out a better way to create value for potential clients. I had a number of consultant communities approaching me with ridiculously low day rates, I held out & created my own opportunities. ⚡ Work to build something that you have IP in: this has been our core focus at LookUP because time for money as a model is a fools game. ⚡ Value your friends and loyal contacts during these periods: my network endlessly helped me to get my business flowing again. But these same people know that I have done this for them in the past, and would always do it again in the future. And one final bit of advice, do not look at everyone else on Linked In thinking they are cruising along on a wave of success. I spoke to many people in Jan-Feb of this year who looked like they were flying in their posts, and they were having a mental breakdown around their business too. A big well done to everyone who survived, thrived, or otherwise in 2024, you've got this 👍
Thanks for that story, Caroline Keylock . 2024 has been a pig of a year for most independents who I know, myself included. Luckily 7 years of plenty have provided enough of a cushion to allow me to step back, reset, reposition, ready to go again in 2025. Your advice is golden. And I would add that, if you can, use the downtime constructively on your health and happiness: the wealth will follow once the market picks up and you'll be well set for it
Well done for getting through it Caroline. Some really useful lessons there. Bring on 2025.
The only upside of these times is that it means when we need help, we're less likely to have to join a queue. Been an absolute pleasure working with you and Matthew so far :)
Love this post Caroline and thank you for being so honest. I love having your voice and words on my feed. 2024 without a doubt has been so so tough. Love what you and Matthew have created at LookUP and hope you continue to see the success you deserve in 2025 🌟
Thanks for sharing Caroline Keylock, and sending lots of love and strength! Loved working with you this year and the success you enabled for Alzheimer's Society. Thank you and Matthew Hook for bringing so much energy and inspiration to our work 💙
Too much love for this. Always thinking of sharing and giving value to others, even when it's a self-reflection. Speaks volumes about your character Caroline.
Well done mate, well earned and survived. X
Caroline Keylock lessons upon lessons -so looking forward to finally meeting IRL tomorrow!
well done Caroline Keylock. Thanks for the insight
It's been a brutal year in the independent ecosystem, some of the stories I've heard are shocking, and everyone whose been involved in that has needed a lot of resilience, and a fair slice of luck too. I'm super-proud of what we've built together this year, it's been a pleasure, and I can't wait to see what 2025 brings.