Accounting Tools & Tips
Philip Ebiner, Will Carnahan
Lessons
Welcome
02:26 2Why Do You Want to Start a Photography Business
04:40 3What Kind of Photography Business Do You Want to Start
05:38 4Important Personal Note from Instructor Will
02:25 5Case Study Starting a Photography Business
07:43 6Quiz - Chapter 1
Introduction to Basics of Starting a Photography Business
00:52 8Choose Your Business Name
05:29 9Choose Your Business Structure
06:12 10Register Your Business Name
01:47 11Get Your Federal Tax ID
01:39 12Get Your Business License
01:16 13Get Your Business Bank Account
02:16 14Register Your Online Accounts
02:17 15Branding Your Business
02:18 16Set Your Prices
12:56 17The Photography Gear You Need to Start a Business
03:42 18Case Study - Business Basics
24:42 19Case Study - Equipment
10:05 20Quiz - Chapter 2
21Intro to Getting Your First Paying Clients
00:44 22You Need to Prove Yourself
01:30 23The Best Place to Find Your First Clients
02:36 24What to Charge for Your First Clients
02:44 25On Set - Partnering with Other Creatives
01:57 26On Set - Getting Work in a Competitive Environment
02:38 27Use Your First Shoot Wisely
01:20 28Case Study - Getting Your First Clients
07:55 29Quiz - Chapter 3
30Introduction to Create Your Photography Business Website
01:05 31Why You Need a Website and Platform Options
04:30 32What Needs to Be On Your Website
07:32 33Design the Perfect Portfolio
03:17 34Case Study - Looking at Photography Websites
12:56 35Quiz - Chapter 4
36Introduction to Expanding Your Online Presence
00:55 37Use Instagram to Grow Your Business
02:29 38Use Facebook to Grow Your Business
01:21 39Get Listed on Google
03:53 40Get Listed on Yelp
03:20 41Get Listed on Review Sites
04:06 42Using Craigslist to Get Work
03:01 43Case Study - Expanding Your Online Presence
13:16 44Quiz - Chapter 5
45Introduction to the Photography Business Workflow
00:54 46Step 1 - Meeting Your Client
03:32 47Step 2 - Booking Your Client
05:53 48Step 3 - The Shoot
02:28 49Step 4 - Editing Your Photos
06:34 50Step 5 - Delivering Your Photos
01:05 51Case Study - Business Workflow
15:54 52On Set - the Shoot
02:50 53On Set - Backdrop Placement
01:13 54On Set - Paper Backdrop Rolls
02:01 55On Set - The Back Light
00:46 56On Set - Interacting with Clients
04:58 57Quiz - Chapter 6
58Intro to Business Infrastructure and Continued Growth
00:46 59Productivity Tools to Make Your More Efficient
06:21 60Get Business Insurance
03:55 61Accounting Tools & Tips
04:20 62Business Tax Tips
03:38 63Scaling Your Prices Up
02:56 64Use Conventions and Meet Ups to Grow Your Business
04:01 65Case Study - Business Growth
11:04 66Quiz - Chapter 7
67Intro to the Selling Prints Section
00:56 68Why Should You Sell Your Prints
02:18 69Choose a Printer
02:59 70How to Price Your Prints
05:33 71Selling Your Prints Online
08:06 72Selling Your Prints in Person
02:38 73Wrapping up This Section
01:26 74Quiz - Chapter 8
75Tips for Personal and Creative Well Being
04:38 76Conclusion
01:45 77Final 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.