April 13, 2021
Organizing money as a business owner is HARD. There’s so many things I wish I had know when I was getting started, which is why I created my FREE guide with 10 money tips for photographers. Today, I want to give you a little sneak peek into what’s in the guide. You’ll have to download it to get all of the tips but for now, here’s my top 5 money tips!
1. Separate personal & business finances.
This is my #1 tip because it will save you so much stress when it comes to paying your taxes and keeping your business organized! Whether you are already a legal business or not, do not delay putting this step into action! I keep my business and personal accounts at separate banks to further separate them, and resist the temptation to mix money.
2. Use a CRM, like Honeybook!
This is probably the biggest gamechanger for most photographers out there. Not only can you up-level your client experience, you can also keep tabs on client payments, due dates, etc through this software! Use this code for 50% off!
3. Use accounting software, like QuickBooks.
I like Quickbooks because it syncs up with my Honeybook account. This means that every time I get a payment from a client, it automatically populates into Quickbooks. This makes it so much easier for my accountant to run monthly reports for me, and to make sure that all payments are accounted for and categorized correctly! You can get started for something like $10/month, so don’t delay!
4. Know your monthly fixed expenses.
For so long, I didn’t even know what I was spending month to month in my business. I finally wrote out everything on a spreadsheet so I could determine what I needed to make month to month to actually cover my expenses. This will be a huge eye opener for you! All you have to do is go back through your bank or credit/debit card statements to see what your recurring monthly expenses are. This will tell you the minimum amount you need to make sure your business stays up and running.
5. Keep your pricing simple.
Most potential clients will become overwhelmed very easily if pricing is not short, sweet, clear, and concise. Have someone else look over your pricing to make sure everything makes sense, and your collections are easy to read. Don’t include everything and the kitchen sink just because you think it will make clients book you – it likely won’t! Keeping things clear and simple is best to attract people to the correct collection for them.
To get ALL of my top 10 money tips for photographers, make sure you sign up HERE. This free resource will absolutely change the game for you when it comes to managing your business finances! I know money isn’t a fun topic, but it’s SO important to make sure your business works for you!