Hey friend! I’m excited you are here visiting the blog to grow your photography business and I can’t wait until you dive in. If you are here, there is a good chance you are a photographer working to grow a photography business. Whether you are seasoned or an aspiring photographer, there is also a good chance that you are struggling with budgeting your photography income in a way that keeps you and your business afloat every month of the year, even when the incoming payments are few and far between. (aka the dreaded slow season)
Enter… The Path to Profit Blueprint 💸📸
The finances, the business side of photography, going full time in your business…
these are all the hard, scary parts of becoming a professional photographer that so many of us want to try and avoid because it makes everything so real. And when it’s real… then holy moly we are doing the dang thing! 🥴🤪
I can guarantee that the reason you are starting this photography business is because you want to one day make it your job, your career. You want to start bringing in income for your family, for your lifestyle, all while doing something you truly enjoy. You want to quit the day job that has you tied down to an office, that owns your schedule, and has you missing out of everyday life that you so desperately want to soak up.
I know these things, because that was me once. I started my photography business and was doing great! BUT. I still couldn’t manage to go full time and quit my job as a waitress because as soon as busy season was over and the inquiries weren’t coming (aka the slow months) I NEEDED my serving job to keep me afloat financially.
My problem: During my busy photography season, I didn’t budget out my income properly to keep last throughout the slow months… and that had to be fixed. ðŸ›
Okay, now the fun part… how did I fix it? How did I finally reach full time status as a professional photographer!? 📸
FIRST. I changed my mindset about money. I quit letting it own me and stress me out and instead started to pay more attention to the numbers.
- I started to make sure I was actually charging what I needed to to make what I needed to make as a business, PLUS what I wanted to pay myself personally.
- I calculated my business expenses to make sure I had those covered and they weren’t too high.
- I made sure I started to put aside 20% for taxes with each payment I received.
- I opened up a separate bank account (well a few actually) to make sure I kept my business income separate from my personal.
I was able to start planning out more detailed EXACTLY how much I wanted to pay myself each month, regardless of incoming payments from clients. Once I had a set goal of income I wanted or needed to make, it was just all about marketing myself then budgeting properly. Knowing your numbers, your goals, what you need to book is what will make this process work. 👀
Once you are organized and know your numbers… you start being diligent.
With every single payment that came through I would split up and bank it into an account that was designated to each financial part of my business. X amount would go into my Business Expense account. X amount would go into my Tax account. X amount would go into my “pay myself” account. And eventually I started to put some aside into a savings account also. As I continued to this very consistently, my accounts started to have a surplus of income. More than what was needed for whatever current month we were in. That was where it started to pay off. 🙌
As those accounts start to grow, you can begin to pay yourself only that set amount you planned for each month, no more. That way when the slow months hit in your photography business, and trust me… they will… you will be able to continue to pay yourself what you planned to and need to!
If you have the math brain and skill with numbers to figure out all the calculations on your own, I envy you! 🙃 If you are like me and your brain + numbers do NOT always mix well… then you need my new offer The Path to Profit Blueprint! This course not only walks you through this entire process in more detail and helps your navigate the different steps… it also comes with Google Sheets Calculators that do ALL the math and hard work for you!
One of my favorite parts is that it tells you exactly what percentage of each payment you receive that you are profiting. The goal is to be making money, right? 💸 If you aren’t profiting… you need to raise your prices and go back and look at your numbers. Your photography business and your personal bank account will thank you in the end!
If this is something you need… you can grab it today, right now, in my shop at Devonadrianne.com/shop!
If you are looking for more to help grow your photography business, head to my photography coaching website, Devonadrianne.com for freebies, private coaching, and more courses like this one!
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