| Into Your Business: Part Two
By Ira Gostin
The primary purpose of the yearly review is that all
of these tasks need to be done at some point anyhow, and can all
be grouped under the same umbrella at the start of the New Year.
If you want growth for your business, you have to build the administrative
side so that you can accept the growth.
The first thing I recommend is writing yourself a
checklist. You can keep the original in your computer under Yearly
Check List and then print it out to work from. More than likely
you will find that you add to it after you have done this for a
couple years. Mine is in conjunction with my Year-End Checklist
which has all my tax info and year ending things on it.
Here’s the start of your personal checklist:
1. Insurance—Have
you purchased more camera equipment in the previous year? Disposed
of any? This is the time to chat with your insurance agent about
making changes to your policy. Ask if there are any discounts or
incentives. Make sure you have all the coverage that you need.
2. Accountant—Many
photographers use software programs internally to do their taxes.
I highly recommend having an accountant on your “team.”
There are so many tax laws and so many nuances that escape the capabilities
of the software. My yearly meeting with my accountant always nets
some subtle changes that ultimately save us money.
3. Lab,
Camera Store—Phone calls asking if there is anything
new, or anything new on the horizon might garner you valuable information
that will help your business. Your lab might find out that there
is a service you need, and implement it.
4. Employees/Contractors—Tradition
has been for photographers to hire assistants as independent contractors,
and if you follow this practice, you definitely want to have a written
contract with your assistants. You also want to have them fill out
and sign a new W-9 form every year. The burden of proof is on you
to insure that your assistant is truly an independent contractor,
and in most situations, they are not. I hired a payroll service,
and now my assistants are all actual employees. So this is the time
that we review their paperwork and make sure all the payroll items
are in order.
5. Forms
& Contracts—Make sure that the paperwork matrices
in your computer are all up to date. That your © and year is
all up to date on your various forms, delivery memos and contracts.
6. Pricing—Take
a moment to review your pricing. Most photographers never do this!
I have a price list that is used for estimating (we do not send
out a “price list” to clients). Prices may have gone
up in the past year and your final pricing may not reflect that.
Make sure you stay profitable and incorporate and appropriate mark-up.
7. Calendar—Review
your master calendar. Add kid’s school dates, major jobs,
birthdays and other important dates. Think about scheduling some
time off (you have to do this!) and even your business’ annual
luncheon or party. Just being a little proactive on your scheduling
will keep you ahead of the game.
8. Office/Studio—This
is the time to check fire extinguishers, change batteries in smoke
detectors, check office furniture, run diagnostics on your computers
and perform back ups on your hard drives.
9.
Vehicle—Check your repair schedule and maybe even treat
yourself to a full-service car wash!
10. Equipment—Give
your camera gear a little TLC. Schedule shipping or dropping off
to repair for tune-ups and check, calibrate your meters, and give
everything a super great cleaning.
This is just a start, but it will give you an idea
of all of the small tasks that you need to do every year to keep
your business running smoothly and at an increased level of efficiency.
Some of you may think this is far too organized, a
bit too neurotic for you to have lists. You may be right, however,
I have found that I don’t have to use up brain cells by trying
to remember things, I just follow the schedule and complete the
tasks. And, in case I get busy with client work, I can turn tasks
over to my production manager as everything is already written and
printed.
Good luck, and remember to keep yourself organized
during the slow times, to insure you are running efficiently during
the busy times.
Ira Gostin is a corporate and advertising photographer
based in Reno, Nev. He specializes in photographing people on location.
He is the associate editor of shootSMARTER.com,
teaches photojournalism at the University of Nevada, Reno and produces
workshops under Gostin
Photo Workshops. ASMP members will receive a $25.00 discount
on upcoming workshops!
Read Part One of this
article in our Spring Issue>
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