by Skip Cohen
Welcome to "Insight," a new series of content-rich posts to help make 2019 the year you do more than just survive. We want you to thrive!
Dozens of times over the last few years I've written about all the great content available on the Internet. It's filled with ideas and topics to help you build a stronger business. Wandering through the PhotoShelter blog recently I ran across this gem about the importance of freelance photographers understanding the importance of knowing their costs.
It's a great article by Allen Murabayashi, but in all honesty, whether freelance or a full-time photograph/business owner, the issue of understanding your costs is critical. You've got a choice to make, and it could make the difference between macaroni and cheese every night or mixing it up, and being able to get out to dinner now and then!
For years I've said photographers are typically one of the worst business groups on the planet. It's not all your fault, most of you are right-brain creative types, and you have little interest in the left-brain operational side of the business. But, you have to understand and respect the operational side because it controls your profitability and revenue!
PhotoShelter not only has a reputation for helping you create the very finest presentations of your work, but their blog is loaded with content to help you build a stronger business and brand. Check out the post below for help in developing a better understanding of your costs to do business!
Why Freelancers Need to Know Their Cost of Doing Business
Unless you’re phenomenally wealthy, you probably maintain a budget for your finances. For freelancers, budgeting (and cash flow management) is crucial because the lack of steady income and hefty capital requirements (e.g. a new camera) can require a bigger financial cushion.
During a PhotoShelter Third Thursday event, I queried the audience about whether they had used a Cost of Doing Business (CODB) calculator. A participant answered:
“I did it once, and I don’t know what the hell you guys are talking about. I just found that it was totally unrealistic. I added it up, and I still was like, ‘Where did this number even come from?’”
It’s true that the first time you calculate your CODB, the result can be shocking. Many people find that they’ve severely underestimated what it costs for them to run a business (or they don’t have an accurate accounting of their expenses).
Start your 14 Day Free trial of Photoshelter plus 20% off a Standard or Pro Account for a year.
Use the coupon code PhotoFocus20
We've postponed the f64 Lunch Bunch for a few weeks. There's so much going on in everybody's lives right now in terms of help and education. However, we're all still here to help and just an email away.
And if you missed the May 6 lunch with Bobbi Lane and Tony Corbell - it's pretty amazing. The video is just a click away.
ClickCon 2020 Circle the Dates!!
The pandemic may have moved the dates for 2020 to August 10-13, 2021, but that's NOT slowing Team ClickCon down. Stay tuned for new programs online with ClickCon Nation! It all starts on August 11th.
Check out "Why?" one of the most popular features on the SCU Blog. It's a very simple concept - one image, one artist and one short sound bite. Each artist shares what makes the image one of their most favorite. We're over 100 artists featured since the project started. Click on the link above and you can scroll through all of the episodes to date.