Times are tough, sure, but what can you and I REALLY do about this economy? Nada!
I believe we all have a CHOICE. We can choose to push through and focus more than ever on how to make our business great: more efficient, more profitable, and find even more amazing things to offer.
OR we can whine about the economy day in and day out and live in fear.
Seth Godin has got a great post about this phenomena on his blog HERE. Never have I seen anyone so right about business and marketing (the NEW way of doing business and marketing) so I'd highly recommend adding this blog to your RSS reader.
"By focusing on the red box, the sore one, and ignoring the other elements of what makes our product or career worth marketing, we cause two problems. First, our attention does no good at all on the problem at hand, and second, the other boxes suffer.
The problem with whining is this: human beings like to be right. If you persuade yourself and your friends that times are really tough and that you're bound to fail, you'll probably do the things you need to do to make that true in the long run."
Today I am teaching a Photo Biz Boot Camp in Phoenix, AZ with a group of women entrepreneurs/photographers who have decided to NOT live in fear and DO something great for their business. Check back soon for updates!!
Sunday, October 19, 2008
Tuesday, October 14, 2008
Quicken Online is FREE now for PERSONAL Financial Tracking
If you've gone through my Profit Center DVD or Photo Biz Boot Camp you know that we need TWO financial tracking systems. A personal tool and a separate business tool.
It's VERY important to track both of these separately not only for tax and budgeting purposes but because we know that what is watched, improves. If we track our finances, we can make educated decisions quickly about giving, saving, and spending. Cash flow is not as much of an issue if we're smart about tracking and budgeting.
About a year ago I became a bet-tester for Quicken Online and have since paid $2.99/month to track my personal finances there this year. Quicken has been a great tool for me over the years and I was glad that they were coming out with an online version because the best (and I admit nicely designed) alternative, Mint, never worked right syncing with certain bank accounts... and I needed the real-deal for personal financial software.
Last week I received an email that we will no longer be charged and that the program is now free to use online! Yeah!
So if you're not signed up already, go do so and get your accounts all synced in so you can watch them closely. If you're looking for a tool to use for your BUSINESS, check out Quickbooks or Successware for photographers.
Happy tracking!!
It's VERY important to track both of these separately not only for tax and budgeting purposes but because we know that what is watched, improves. If we track our finances, we can make educated decisions quickly about giving, saving, and spending. Cash flow is not as much of an issue if we're smart about tracking and budgeting.
About a year ago I became a bet-tester for Quicken Online and have since paid $2.99/month to track my personal finances there this year. Quicken has been a great tool for me over the years and I was glad that they were coming out with an online version because the best (and I admit nicely designed) alternative, Mint, never worked right syncing with certain bank accounts... and I needed the real-deal for personal financial software.
Last week I received an email that we will no longer be charged and that the program is now free to use online! Yeah!
So if you're not signed up already, go do so and get your accounts all synced in so you can watch them closely. If you're looking for a tool to use for your BUSINESS, check out Quickbooks or Successware for photographers.
Happy tracking!!
Monday, October 6, 2008
What does the Recession mean for small business owners?
With so much discussion about the downturn of the economy lately, there has been a lot of talk about how this will effect small business owners and the photography industry.
Some observations and predictions I can contribute:
1. No matter how the economy is doing, people are still going to get married. So if you're a wedding photographer, this means that we're not really going to see too big of a slump.
2. This WILL however mean we need to work smarter, not harder. If 50% of small businesses fail within the first five years, times like these are certainly going to call for us to be even more agile and educated about the way we run our business... so we are the ones left standing.
3. Now is the BEST time to be in business for ourselves!! When people are getting laid off left and right and jobs are disappearing in Corporate America, there is MORE security in being a small business owner.
4. This nation has survived TOO long on a spend-not-save mentality and we're going to see this change when people get turned down for loans. This is both good AND bad. Good because people may start living within their means and should have MORE disposable income to spend on things like photography vs payments for a house they shouldn't be in the first place.
5. We're going to need to make it attractive for clients to buy. Sure, the banks and credit institutions are tightening up, but who says we cannot offer payment plans for our products and services?? I've been doing this for years and LOVE it that my clients can order what they want because they can pay for it in installments. I have to make sure my costs are covered up front, but then we also benefit from having a steady income from these installments.
6. Last, but certainly not least, we're going to have to become FINANCIALLY LITERATE. Yep, I said it. We need to understand how to run our business based on the numbers so we're sure we are charging correctly, not getting loaded down in debt/overhead, and have ample cash flow. I thought that this recession would put a halter on people signing up for the Photo Biz Boot Camp but it's great that people realize that now is THE most important time to focus on these things to make it through this.
Some observations and predictions I can contribute:
1. No matter how the economy is doing, people are still going to get married. So if you're a wedding photographer, this means that we're not really going to see too big of a slump.
2. This WILL however mean we need to work smarter, not harder. If 50% of small businesses fail within the first five years, times like these are certainly going to call for us to be even more agile and educated about the way we run our business... so we are the ones left standing.
3. Now is the BEST time to be in business for ourselves!! When people are getting laid off left and right and jobs are disappearing in Corporate America, there is MORE security in being a small business owner.
4. This nation has survived TOO long on a spend-not-save mentality and we're going to see this change when people get turned down for loans. This is both good AND bad. Good because people may start living within their means and should have MORE disposable income to spend on things like photography vs payments for a house they shouldn't be in the first place.
5. We're going to need to make it attractive for clients to buy. Sure, the banks and credit institutions are tightening up, but who says we cannot offer payment plans for our products and services?? I've been doing this for years and LOVE it that my clients can order what they want because they can pay for it in installments. I have to make sure my costs are covered up front, but then we also benefit from having a steady income from these installments.
6. Last, but certainly not least, we're going to have to become FINANCIALLY LITERATE. Yep, I said it. We need to understand how to run our business based on the numbers so we're sure we are charging correctly, not getting loaded down in debt/overhead, and have ample cash flow. I thought that this recession would put a halter on people signing up for the Photo Biz Boot Camp but it's great that people realize that now is THE most important time to focus on these things to make it through this.
Subscribe to:
Posts (Atom)