While the masses of holiday shoppers fight the traffic and crowds to pick up a sale on this Black Friday, I contemplate what this day means for our own business. Every year there comes a “break even” point when we have all of our expenses, salary, cost of sales covered and are moving from the “red” to the “black.” For portrait photographers this usually comes in the fall when the influx of holiday portrait sessions occur. For wedding photographers, if we balance our payments coming in and expenses coming out, our “in the black” day comes much sooner.
One of the most difficult things to do in any small business is to manage cash flow and “the numbers” so to speak. It’s the reason most businesses go OUT of business. It’s the reason I teach. I think it’s SO important to know your numbers, inside and out. Two weeks ago I had the pleasure of running into two of the entrepreneurs who’d attended Boot Camp back in 2007. They recalled confidently that it had been a turning point in their lives and businesses (knowing their numbers) and tracking/forecasting them ever since then.
This is the PERFECT time of year to be taking a good look at your numbers again. Every year, at this time, I check into what future spending I have and determine if it’s best to do the spending BEFORE the new year, or after. Your accountant can help you make these decisions too if you’ve been keeping up with your books throughout the year. Often, we find it’s best for us to spend in December vs January because of the greater tax break we will have this year.
In January I will be teaching three Boot Camps throughout the US, and then one here in Atlanta in February. We’re also launching our OWN new business next year so this may be the last time I’ll be teaching for a while. It’s a VERY VERY exciting yet busy time for us right now!
I would love to have you join us:
Orlando, FL Area – January 10-12, 2011
Denver, CO Area – January 20-22, 2011
Washington, DC Area – January 25-27, 2011
Atlanta, GA – February 1-3, 2011
If you sign up this weekend (anytime before Tuesday Nov 30th) then we’re giving a BONUS of an additional DVD for free! The Profit Center DVD is included with your Boot Camp registration and then you get to pick an additional DVD for free. You’ll have over a month to go through these DVDs so you are well-equipped for Boot Camp. Simply note which additional DVD you’d like in the checkout notes.
***CLICK HERE FOR MORE INFO***
Also, all of our DVDs are $50 off this weekend using the code BLACK50 at checkout!