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Show Me The Money

You have a business plan beginning but within that what about the money talk? What do you need for your new photography business? Are you a small operation and what would that really cost? How about buying used gear first to save a bundle? Is there a studio space needed or can this be done out of your home? What tax breaks are there for either the studio or even the home?

Knowing how much money you need for this endeavor is one thing, acquiring it is another. A recent study\\xa0from the National Knowledge Commission shows that 63 percent of entrepreneurs \\u201cself-financed\\u201d (bplans.com). Not a bad deal... no loans to take out, maybe work and pay as you go, while building something bigger and better.

Start with the personal budget. How much do you need for your bills? The must haves vs the wants. Do you need all the cable channels? Will unlimited cell data be necessary in this wifi connected world? Driving a Mercedes may look good but would a Kia get you where you need to go with enough comfort? There is no shame is part time work on the side to help get things started. If a loan is right for you, what is the best way to go? Investors, a bank, credit bureau, private loan, family, friends, or will crowdfunding work? There are many of those I would steer clear of, almost all, but not all.

Happy Shooting!

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