Episode 424: How to Manage Cash Flow – Courtney Wolf

cash flow

Are you aware of the cash flow in your business or are you intimidated by your business finances?

In episode 424 of the Bokeh Podcast, Courtney Wolf of Invision Events joins us to discuss the importance of familiarizing yourself with your business expenses, profit/loss statements, and bookkeeping so that you’re aware of your cash flow. Listen in as she explains important terminology for business accounting in a way that even a beginner can understand!

The Bokeh Podcast is brought to you by Photographer’s Edit: Custom Editing for the Professional Photographer and Miilu: The Simplest Way to Create and Manage Timelines and Shot Lists for the Events You’re Photographing.  You can also subscribe to the Bokeh podcast on the Apple podcast app, follow on Spotify, add to your playlist on Stitcher, or listen on Overcast.

About Invision Events (2:24)

Staying Afloat During Quarantine (4:30)
Embrace a Pivot
Run a Lean Business

Finance Terminology (13:14)
Cashflow – the total amount of money that is transferred in and out of the business.
Liquidity – the availability of liquid asset to a business.
Liquid Asset – cash (to a business).

Profit/Loss Statement: (16:25)
Standard financial statement that summarizes the revenues, costs, and expenses that are occurred during a specific time.

Generate Profit by: (16:25)
Increasing Revenue
Reducing Costs
Both

Accounting Software (26:56)
Excel Spreadsheet
Quickbooks
Wave

Tracking the Breakdown of Profits Per Client/Service (40:18)

Variable vs. Fixed Expenses (43:23)

Links
www.invision.events
educateempowerencourage.com
Instagram.com/courtney_invision
Facebook.com/Invisionevents
courtney@invisions.events
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Episode 328
Education Empower Encourage
Kesha Lambert

Episode 409: How to Serve Your Clients…Profitably – Brittany Elise

serve your clients

Are you serving your clients well? High-end experiences can provide more opportunity to earn more profit in your business.

In episode 409 of the Bokeh Podcast, Brittany Elise shares how she creates a custom experience for her clients through providing wardrobe styling, hair and makeup, and products. If you’re ready to take your service to the next level and charge more for the experience, this episode is for you!

The Bokeh Podcast is brought to you by Photographer’s Edit: Custom Editing for the Professional Photographer and Miilu: The Simplest Way to Create and Manage Timelines and Shot Lists for the Events You’re Photographing.  You can also subscribe to the Bokeh podcast on the Apple podcast app, follow on Spotify, add to your playlist on Stitcher, or listen on Overcast.

Based in: Bluffton, Buford, Hilton Head, SC
Also Markets in Atlanta, Warner Robbins, Macon, GA

Brand Position: Providing stress-free portraits for busy moms (1:52)

Customer Experience: Have a servant’s heart. (5:06)

Technique for Time: Know what your sone of genius is and outsource the rest. (7:07)

Inspiration: The business side of powerful luxury brands (14:35)

Book Recommendations: Building a Storybrand by Donald Miller – bit.ly/bp-storybrand (17:29)

bokehbookshelf.com

Brittany’s Concept of Service (19:11)

Serving Clients (29:31)
1. Wardrobe Styling
2. Hair and Makeup
3. Prints and Albums with Installation

A La Carte Print Pricing (39:43)

Links
brittanyelise.com
instagram.com/brittanyelisephotography
thecoachingcollective.com
bernssteakhouse.com

Episode 384: Bookkeeping Made Simple – Tanya Hirschy

bookkeeping

Does the day-to-day task of managing your bookkeeping feel overwhelming as a photography business owner?

In episode 384 of the Bokeh Podcast, Tanya Hirschy of Tidy Books Boutique offers three steps to organize and simplify your bookkeeping. If you’re ready to maintain your books, learn the responsibilities of a bookkeeper and an accountant, and prepare your finances for the rest of the year, listen in to this episode!

The Bokeh Podcast is brought to you by Photographer’s Edit: Custom Editing for the Wedding and Portrait Photographer. You can also subscribe to the Bokeh podcast on the Apple podcast app, follow on Spotify, add to your playlist on Stitcher, or listen on Overcast.

Customer Experience: Show empathy with your clients. (2:46)

Brand Position: Bookkeeping for the profitable photographer, because you have better things to do. (5:32)

Technique for Time: When I’m working, I’m working. When I’m not, I’m not. Plan out all of the work you’ll be doing. (9:43)

Technique for Time Book: Deep Work by Cal Newport

bokehbookshelf.com

Book Recommendations: (13:07)
Margin by Richard Swenson – bit.ly/bp-margin
The Business Boutique by Christy Wright – bit.ly/bp-businessboutique

Outsourcing/Delegation: Has a team of bookkeepers and a virtual assistant. (14:40)

Bookkeeping vs Accounting (23:42)

Three Steps to Simplify Bookkeeping: (34:06)
1. Know the goals of bookkeeping (tax ready, strategy, and growth) (34:13)
2. Research & get organized (35:41)
3. Develop a workflow and stick to it. (42:31)

The Personal MBA by Josh Kaufmanpersonalmba.com

How Tidy Books Helps Businesses

Links
tidybooksboutique.com
instagram.com/tidybooksboutique
Quickbooks – quickbooks.intuit.com

Episode 377: An Intro to Investing for Photographers – James Willis & Teshorn Jackson

investing

Are you looking to diversify your finances through investing?

In episode 377 of the Bokeh Podcast, Teshorn Jackson and James Willis join us to explain the benefits of investing in the stock market, even in times where it can feel risky. Listen in as they share introductory steps to investing and their top resources for ongoing education!

The Bokeh Podcast is brought to you by Photographer’s Edit: Custom Editing for the Wedding and Portrait Photographer. You can also subscribe to the Bokeh podcast on the Apple podcast app, follow on Spotify, add to your playlist on Stitcher, or listen on Overcast.

Check out episode 208 with Teshorn >>

James’ Market: DFW, TX (2:51)

Brand Position: Photography that will remind you how you felt, not just what it looked like. (3:10)

Years in Business: 8 Years (6:20)

James’ Customer Experience: Establish a connection with your clients so they can build trust with you. (6:49)

Teshorn’s Customer Experience: Authenticity matters for being relatable. (11:24)

James’ Technique for Time: Find activities that you enjoy that will pull you away from work. (13:08)

Delegation/Outsourcing: Working through the process. (17:34)

Education Recommendation: Workshops (22:07)
Two Man Workshop – twomann.com/wedding-photography-workshop
Joshua Dwain’s Workshop – joshuadwain.com

James’ Experience with Investing (28:23)

Teshorn’s Experience with Investing (31:36)

Fear in Finance as a Photographer (36:59)

CARE Act: You can withdraw from your investing accounts (401K/Roth IRA) penalty free, but you have to pay it back within three years. (45:54)

Investing in a Volatile Market (47:20)

Trading Stocks (49:12)

5 Steps to Start Investing (55:55)
1. Open a brokerage account (Charles Schwabb, Robinhood, TDAmeritrade).
2. Determine your goal: long term vs. short term.
3. Research the company, industry, and stock that you’re interested in pursuing.
4. Transfer money into your brokerage account to buy market order (the price at that time) or limit order (the price that you want it for); same goes for selling.
5. Buy slow and in increments; don’t put all of your money in at one time.

“Don’t invest money that you can’t afford to lose.”

Book Recommendations: Profit First

Resources for Getting Started:
CNBC.com
The Motley Fool – fool.com
Investing While in Corona – facebook.com/groups/513016642709862/
Yahoo Finance – finance.yahoo.com
Youtube.com
Market Watch – marketwatch.com/site/mobile

Links:
jameswillisphoto.com
instagram.com/james_willis_photography
teshornjackson.com
instagram.com/teshornjackson

Check out Teshorn’s Other Episode:
Trust in Outsourcing