Episode 372: Thinking Proactively About Our Finances – Matt Odom

finances

Have you set yourself up for financial stability in your business and personal life?

In episode 372 of the Bokeh Podcast, Matt Odom joins us to discuss the importance of being proactive with your finances as a small business owner. Listen in as he shares insight into saving, investing, and diversifying your revenue streams.

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: Be on time, be nice, follow up, build a relationship. (1:16)

Outsourcing/Delegation: Outsource the things you don’t enjoy. (8:06)

Inspiration: Films and personal projects. (12:52)

Peace in Finances (15:51)

Saving Money: (25:42)
You should be saving 30% of your income for taxes.
You should be saving 20% of your income for savings.

Restructuring Prices & Packages for Long-Term Benefit After COVID-19 (34:54)

Investing in Rental Properties (38;54)

SEP IRA (46:41)

Links
mattodomphotography.com
instagram.com/mattodomphoto
Episode 245: The Practical Guide to Commercial Photography – Matt Odom bit.ly/bp-245

Episode 371: Passive Income for Photographers – Brandon Wong

Passive income

Have you considered the ways that you could generate passive income for your photography business?

In episode 371 of the Bokeh Podcast, Brandon Wong of Photo Booth Supply Co describes the benefits of generating passive income, along with the truth behind what qualifies your revenue as “passive.” Listen in as he shares how to determine what services you should eliminate, automate, and delegate while you implement addition streams of revenue.

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: Availability and humanizing (4:58)

“80% of buyers are willing to pay more for a good customer experience in 2020” (4:58)

Brand Position: Affordable photo booths that come with a profitable and proven, turn-key strategy so you can create a business and life you love. (9:36)

Technique for Time: Discipline equals freedom; create a schedule. (12:54)

Venn Diagram: (17:49)
What you’re passionate about.
What your good at.
What people will pay you for.

GSD: (19:57)
Goals
Specifics
Deadlines

Book Recommendations: (24:20)
How to Win Friends and Influence People

Introduction to Passive Income (29:22)

“You’re trading your time for money.”

Create a product that does not require your time: Photobooths, Associates, Presets, etc (37:04)

Eliminate, Automate, and Delegate (38:05)
1. Eliminate – What are the non-profitable services that you offer?
2. Automate – CRMs and Email Marketing
3. Delegate – Use the Venn Diagram to delegate the things that don’t overlap

“I am not a creative, I am a business owner.” (42:59)

Links
photoboothsupplyco.com
instagram.com/photoboothsupplyco
instagram.com/brandon_wong

Episode 336: Workflow Wednesday: Setting Goals for 2020 – Nathan, Haylee, Heather, & Rich

setting goals

Have you taken the time to think through where you are in your life and business, and where you want to go over the next 12 months?

In episode 336 of the Bokeh Podcast, Nathan, Haylee, Heather, and Rich discuss their goals for the new year, and the motivation behind them. Listen in as they discuss what it can look like to find purpose or passion, even when your motives sometimes feel selfish.

The audio from Workflow Wednesday episodes is from our weekly Facebook Live videos. Tune in live on Wednesdays at 2:00PM EST, at facebook.com/photogsedit.

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.

Connect:
richsmithphotography.net
@richsmithphoto
@heathersmithrsp
@nathanholritz
@hayleegaffin
photographersedit.com
@photogsedit
bokehpodcast.com
@bokehpodcast

Links:
Henry Chen’s Episode – bit.ly/bp-331
Ryn’s Blog Post: bit.ly/bp-visionweekends
Tony Robbin’s Book: http://bit.ly/bp-reawaken
Newlywed Game: bit.ly/bp-newlywedgame

Watch the Facebook Live Video Here:

 

 

Episode 318: Leveraging Debt for Your Photography Business – Jill Houser

leveraging debt

Do you ever feel like you’d be more successful  if you had money to invest into your business?

In episode 318 of the Bokeh Podcast, Jill Houser opens up about her experience with accumulating $20k of debt in order to take her photography business to the next level. Listen in as she shares the benefits of taking out a loan, the advice she would give to those considering taking on debt, and how she paid it back in full from profits in her business.

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.

Brand Position: Helping the uncomfortable feel comfortable in front of the camera. (2:13)

Technique for Time:
Understanding expectations in relationships.
Set boundaries on work.

Book Recommendations: (15:55)
Storybrand by Donald Miller – bit.ly/bp-storybrand
Retrain your Anxious Brain – bit.ly/bp-retrainanxious
Untethered Soul by Michael Singer  – bit.ly/bp-untethered

The Gear Bag: Utensils for dinner. (23:24)

Going into Debt for Business (26:57)

Jill’s Experience with the Debt: (29:54)
Opened a Business Credit Card with 0% Interest for 6 months (up to 17.5% after).
Transferred the Balance to an Amex Card with 0% Interest for 15 months.

Jill’s Accumulated Debt: $20k for Gear (31:43)

Gear Jill Bought: (32:03)
Photobooth
Lenses
Backup Camera
Computer

The Impact of Debt on Jill’s Business: (33:20)
She quit the restaurant industry.
Image quality improved.
Allowed her to go from entry level to pro.

Paying off $20k in Debt: Live frugally and look at every dollar coming in as a payment towards the debt. (35:13)

Advice for Photographers: (36:38)
It takes money to make money.
Have a plan to paying off money that you can’t pay off right away.
For big purchases, test them out first.

Links:
jillhouser.com
instagram.com/jillhouserphotography