Time is every person’s most valuable asset. We all get 24 hours per day. No matter who you are, that can’t be changed. How are you going to spend your time and most valuable asset?
So what do I do in this Photography Accounting business, and what can I do for you? I can help you with your accounting, tax, and financial needs, and act as a coach or partner that you can run business ideas by, and I can help you solve your problems.
My purpose in this business is to share and leverage accounting, tax, and financial information and strategies for photographers, so that you can focus on doing what you love, capturing stories for your clients and adding beauty, joy, love, and art to the world. I want to create a single resource where you can get all of your business questions answered, in a safe and supportive environment, create a community around that, and offer that for a reasonable price that even those just starting out can afford, as opposed to the traditional hourly professional rate.
Business skills may or may not come naturally to you. I think a lot of photographers start their photography business because they love photography, but may not have the business background to handle that piece of it.
Can I use this business name? Do I need to form a separate legal entity (I’m not licensed to give legal advice, but I can pass on my general knowledge and put you in touch with attorneys if you need more)? Do I need a new bank account? Do I need an EIN (Employer Identification Number)? Do I need to register with the state? Do I need a business license? Do I have to collect, pay, and file sales tax? If so how much, how often, and to whom? Do I need more insurance? Do I need accounting software? When do I pay my taxes? How do I file federal and state income tax? What can I deduct? What are the new rules for 2018 involving meals and entertainment deductions? How can I see how much cash I have coming in over the next 90 days? What percentage of my customers are coming back for more than one session? What CRM (Customer Relationship Management) system should I use? Do I even need one? Where are my inquiries coming from? What percentage of my inquiries do I convert to sales? What’s the best way to track my income and expenses? Which accounting software should I use? When should I recognize revenue, when the contract is signed, when I receive the cash, or on the date of the event? And the list goes on and on…
You may have thought of all of these questions, or some of them, or none of them. And whichever is true for you, it is okay. You can do this, and you can get all of your questions answered, and those that you haven’t thought of yet. That’s what I’m here for and that’s how I want to add value to your photography business.
In my last job, I worked full-time for a 100% virtual CPA firm, with employees and clients all over the country, and in other countries. I can set you up, or help you get set up, so that all of your business applications are in the cloud, backed up, and accessible from any location with an internet connection. I am used to working with and building relationships with clients from my next door neighbor to a time zone 14 hours ahead of mine. I can help you from where I am, wherever you are.
Getting Started – Expert advice and support starting at $250 per month.
I think of the Starter Package like I would a preset used to edit my photos. You have direct access to expert advice that can be applied to your business. I will help you with your initial accounting set up, or complete an accounting workflow review and update (for an additional fee, depending on your situation) and teach you how to maintain your own accounting. You have access to me, a licensed CPA, and you can ask me an unlimited number of questions. I guarantee a response within 24 hours, and usually much sooner. In addition, I will meet with you via video call once per quarter to review your financials and make sure you are keeping up to date. Income and sales tax preparation is available for an additional fee.
Ramping Up and Explosive Growth – For a limited number of clients, I am an advisor and partner on an ongoing basis, with packages starting at $500 per month.
If you choose the Ramping Up or Explosive Growth package, you can be at ease knowing that you’re covered. If you feel like you don’t know what you don’t know, you just don’t like numbers, and all the business decisions you have to make are making your head spin, with either of these packages, I will make certain nothing is missed on the accounting and tax side. You will have an advisor, partner, and friend, who is also a photographer and a CPA, in your corner.
I think of the Ramping Up and Explosive Growth Packages as outsourcing your photo editing. Instead of using a preset and editing yourself, you are hiring someone else to edit for you. The responsibility is still yours, but the burden of all that time that it takes is removed. You give them guidance on what you’re looking for, and they do the editing for you.
My Ramping Up and Explosive Growth Packages include the benefits as the Getting Started Package, with more hands on and one on one accounting, finance, and CFO type of work directly with me. From designing and implementing your accounting and related system (like CRM and invoicing), to day to day transactions, to cash flow forecasting and KPIs (Key Performance Indicators) with real time data, to financial coaching and strategic planning, we’ll design the package that you need. All packages include the cost of implementation and ongoing use of whatever software you need, as well as unlimited access to me. Please contact me to receive an overview of the packages.
Again I ask you how you’re going to spend your time and most valuable asset? Would you like to spend it on the accounting side of your business, or would you prefer to leverage all of my experience and resources, and spend your time on your photography and with the people you treasure most?