Deciding to take your photo-career to the next level and start a business is a milestone in your photography journey.
I believe when you have reached this state in your career you are on the right path; especially because a decision like this comes from real demand for your unique services.
Your life is about to change. The balance between the businessman-technician-artist in you will have to shift for survival. Starting a business is the worst thing ever! You are taking a leap from a Monday-Friday 9 to 5 secure job and steady paycheck to a highly demanding Monday-Monday all hours of the day fluctuating income lifestyle, not a job, but a new lifestyle. The small business life is not for the faint of heart. You now have to value time over money. The misconception of going into business for yourself is that you’re doing it for more money or to be your own boss. Well my friends, that’s not the case, especially as a photographer. If you’re the type of photographer that wants to book clients, manage clients, shoot, edit photos, design products, personally deliver, market, advertise, and handle finances all on your own you will not go far! Going pro means you have evolved into a businessman and thus must think like one; this means focusing on your strength and outsourcing your weaknesses.
If you haven’t peed your pants yet, then here is how to get started on this wild transition from being a hobbyist to a professional photographer.
Money makes the world go round and it will make your business go round as well. You have to open a business bank account! In order to do this you must present your Federal Tax ID. For my business I use Bank of America because I’ve had a personal account with them since I was 18 years old. Talk to my homegirl, Ada Montemayor over at the Bank of America on N. 10th Street in McAllen. She handles my business account(s) and can help you (956) 928-7151, tell her Ben Briones sent you.
The importance of a business checking account is crucial because it will help you manage the expenses and profit of your company. You can literally see if your business is growing or failing through the numbers. Most business checking accounts are accompanied by a savings account, which you could use for saving purposes or taxes. I used my business savings account to separate my sales taxes.
Follow these steps and do the research needed for your business. If you need to hire a lawyer do so. An account can also set up your business as well. I hope this blog was helpful and it will help you decide on taking your photography career to the next level. If you have any questions feel free to email me or fill out the contact form below.