foundation
VIVID SPARK © 2010
STARTING YOUR OWN PHOTOGRAPHY BUSINESS
The very beginning… DATE
ITEM
COMPLETED
Questions to ask yourself worksheet Determine Viability of the business Determine your financial + capital needs Create a positive cash flow worksheet Determine your Revenue Potential (this is the fun stuff!) Estimate your capital/startup costs Estimate your business overhead Calculate your start-up costs + fees Can I afford to start a business? Calculate your business overhead + expenses Calculate your Break Even Point (this is crucial!) Review “Next Steps” Create your own Action Plan!
© 2010 VividSpark + Jennifer Grant/Kate Linden Studios
STARTING YOUR OWN PHOTOGRAPHY BUSINESS
Build your foundation DATE
ITEM
COMPLETED
Create your Business Plan! (This isn’t as scary as it sounds-use our Business Plan workbook to get yours done quickly + beautifully) Register your business name “DBA” (Secretary of State or County Clerk) Register with the State Department of Treasury for your Sales Tax ID or Seller’s Permit Register for your Federal EIN or for using your SSN as your business ID (Remember, you’ll need this BEFORE you open your business banking account!) Obtain adequate equipment insurance separately from your homeowner’s insurance (Remember, once your a business, your homeowner’s likely won’t cover your gear!) Obtain Liability Insurance Obtain any permits required (some are necessary if you have your business in your home) Open separate BUSINESS banking accounts (keep biz + personal separate!) Hire an accountant Retain a tax advisor Set your company policies Finish your website Get business collateral printed (business cards, postcards, etc)
© 2010 VividSpark + Jennifer Grant/Kate Linden Studios
STARTING YOUR OWN PHOTOGRAPHY BUSINESS
Questions to ask yourself... AM I READY FOR BUSINESS? ALL ABOUT YOU
TECHNICAL
MANAGEMENT
VIABILITY
VIABILITY
Do I have the financial resources to invest in a business?
How many sessions per week/ month/year can I handle? (I.E. Do I
Do I have the knowledge + skills to manage a business?
How long can I go without receiving a paycheck?
Am I technically proficient enough to consistently deliver quality images + products?
Am I willing to get additional training to learn how to run a profitable business?
Am I a self-starter?
Do I need to invest in additional training?
Is there room in the market for me? (How many photographers
Do I have the skills necessary to fulfill client orders?
Do I have experience in: branding, marketing, accounting, management, website design/ upkeep, time management, project management, risk management, PR, advertising, networking and other functional business areas? What areas would I need assistance in?
want to shoot 100 per week/1000 per year or just 4 per month?)
are in my area already?)
Do I have the equipment necessary to run a biz? (Back up equipment?)
Do I know how to use the programs necessary to edit + deliver images/products?
Do/Does my family/spouse/ friends support me?
Do I know how to use the programs necessary to run a business?
Do I want to run a business? Am I passionate about business?
Do I have the knowledge + skills to deliver consistently, day in, day out?
Am I ready to run a biz 80% of the time and photograph 20% of the time?
Š 2010 VividSpark + Jennifer Grant/Kate Linden Studios