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Accounting Tools & Tips

Lesson 61 from: Launch a Successful Photography Business

Philip Ebiner, Will Carnahan

Accounting Tools & Tips

Lesson 61 from: Launch a Successful Photography Business

Philip Ebiner, Will Carnahan

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Lesson Info

61. Accounting Tools & Tips

Lessons

Class Trailer

Chapter 1: Introduction to Starting a Photography Business

1

Welcome

02:26
2

Why Do You Want to Start a Photography Business

04:40
3

What Kind of Photography Business Do You Want to Start

05:38
4

Important Personal Note from Instructor Will

02:25
5

Case Study Starting a Photography Business

07:43
6

Quiz - Chapter 1

Chapter 2: Basics of Starting a Photography Business

7

Introduction to Basics of Starting a Photography Business

00:52
8

Choose Your Business Name

05:29
9

Choose Your Business Structure

06:12
10

Register Your Business Name

01:47
11

Get Your Federal Tax ID

01:39
12

Get Your Business License

01:16
13

Get Your Business Bank Account

02:16
14

Register Your Online Accounts

02:17
15

Branding Your Business

02:18
16

Set Your Prices

12:56
17

The Photography Gear You Need to Start a Business

03:42
18

Case Study - Business Basics

24:42
19

Case Study - Equipment

10:05
20

Quiz - Chapter 2

Chapter 3: Get Your First Paying Clients

21

Intro to Getting Your First Paying Clients

00:44
22

You Need to Prove Yourself

01:30
23

The Best Place to Find Your First Clients

02:36
24

What to Charge for Your First Clients

02:44
25

On Set - Partnering with Other Creatives

01:57
26

On Set - Getting Work in a Competitive Environment

02:38
27

Use Your First Shoot Wisely

01:20
28

Case Study - Getting Your First Clients

07:55
29

Quiz - Chapter 3

Chapter 4: Create Your Photography Business Website

30

Introduction to Create Your Photography Business Website

01:05
31

Why You Need a Website and Platform Options

04:30
32

What Needs to Be On Your Website

07:32
33

Design the Perfect Portfolio

03:17
34

Case Study - Looking at Photography Websites

12:56
35

Quiz - Chapter 4

Chapter 5: Expanding Your Online Presence

36

Introduction to Expanding Your Online Presence

00:55
37

Use Instagram to Grow Your Business

02:29
38

Use Facebook to Grow Your Business

01:21
39

Get Listed on Google

03:53
40

Get Listed on Yelp

03:20
41

Get Listed on Review Sites

04:06
42

Using Craigslist to Get Work

03:01
43

Case Study - Expanding Your Online Presence

13:16
44

Quiz - Chapter 5

Chapter 6: The Photography Business Workflow

45

Introduction to the Photography Business Workflow

00:54
46

Step 1 - Meeting Your Client

03:32
47

Step 2 - Booking Your Client

05:53
48

Step 3 - The Shoot

02:28
49

Step 4 - Editing Your Photos

06:34
50

Step 5 - Delivering Your Photos

01:05
51

Case Study - Business Workflow

15:54
52

On Set - the Shoot

02:50
53

On Set - Backdrop Placement

01:13
54

On Set - Paper Backdrop Rolls

02:01
55

On Set - The Back Light

00:46
56

On Set - Interacting with Clients

04:58
57

Quiz - Chapter 6

Chapter 7:Scaling Your Business with Better Infrastructure

58

Intro to Business Infrastructure and Continued Growth

00:46
59

Productivity Tools to Make Your More Efficient

06:21
60

Get Business Insurance

03:55
61

Accounting Tools & Tips

04:20
62

Business Tax Tips

03:38
63

Scaling Your Prices Up

02:56
64

Use Conventions and Meet Ups to Grow Your Business

04:01
65

Case Study - Business Growth

11:04
66

Quiz - Chapter 7

Chapter 8: Selling Your Prints

67

Intro to the Selling Prints Section

00:56
68

Why Should You Sell Your Prints

02:18
69

Choose a Printer

02:59
70

How to Price Your Prints

05:33
71

Selling Your Prints Online

08:06
72

Selling Your Prints in Person

02:38
73

Wrapping up This Section

01:26
74

Quiz - Chapter 8

Chapter 9: Conclusion

75

Tips for Personal and Creative Well Being

04:38
76

Conclusion

01:45

Final Quiz

77

Final Quiz

Lesson Info

Accounting Tools & Tips

Hey Phil back with another lesson on accounting. So you've probably been doing this as you've started getting clients doing jobs paying for things with your business credit card or your business bank account that you've set up. But I did want to just go over some basic accounting principles to keep in mind. First off what is accounting? It's it's the basic understanding of the money flow of your business. So this is your income and your expenses, the income is any money that you have coming in from. This could be clients paying you for a job. If you are selling fine art photography this might be you selling photos on the street corner, maybe you're a stock photographer and you are selling photos online and you're getting residual income that way. But any sort of money that you're making is considered your income and it's a good idea to keep track of all your income in one place so that at the end of the year or whenever you have to pay taxes or whenever you're paying yourself you have ...

all this in one place and then your expenses are any equipment expenses, anything you're paying for, travel expenses, things you're paying for to run your business, any apps accounts you have online that cost money. These are expenses. So again it's important just to keep track of these things now this can be done with easy to use tools and apps such as Quickbooks, fresh books, there's a free app called wave accounting and they have mobile desktop apps that make it super easy. You can even do things like connect your business accounts, your credit debit cards so that if you make any money or if you have any expenses it's automatically going to bring all of that information in there and basically do it all for you. Or you could simply use something like an Excel sheet or a google sheet where you are just every time you make money you write down how much you made when you made it what it was for and then if you have any expenses, same thing when it was, how much was it for, what it was, what it was for. And it's a good idea for any expenses to keep track of your receipts as well. Again one of the reasons why having an app or using an app like Quickbooks, fresh books to keep track of your receipts is really easy because most of those have mobile apps where you can just snap a picture of your receipt and it will save it for you. So it's important to be doing this as you run your business for me whenever I'm doing my business, if I make money or if I have expenses, I typically just jog that down in my own Excel sheet which I personally use for my income and expenses because it's fairly simple and I just do it right then and there um at least every month you should be doing this so that every month, your understanding are you making money, are you losing money? How much if you're making a certain amount of money, how much should you be saving for taxes? How much can you pay yourself? Is your business growing? Is it not growing? And then you can look back month after month, year after a year to see that growth or that decline as well. Ultimately this is important for tax season. Again, this is in our region and the United States, it's going to be different for you for us. I have to pay quarterly taxes or estimated taxes. So four times a year I gotta give a chunk to the government. And that's just because I'm making throughout money throughout the year and they want to get their money throughout the year as well and by keeping track of my accounting and knowing exactly how much I've made, exactly how much expenses I have. I can see and kind of estimate how much I have to pay in taxes every quarter. Or if you're just doing it at the end of the year, how much you owe at the end of the year. If you ever get audited, having good books and having all this information written out is really important. And one other quick tip is because as a photographer, depending on what kind of photography you do, there might be for better months and slower months. And so if you can track your income and expenses and kind of budget for the slower months and know that you're gonna work a lot more during the summer and it's gonna be a little bit slower during the winter or whatever it is. That's another reason why accounting is so important.

Class Materials

Bonus Materials with Purchase

15 Tips: How Your Photography Business can be Adapted to Online Services
Start a Photography Business
Workbook
Worksheet

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