You can have all the technical proficiency and creative vision in the world, but if you are not good with your finances, you will have a lot of trouble building a successful photography or videography business. This excellent video discusses some common financial mistakes that creatives make and how to remedy them.
Coming to you from Evan Ranft, this important video discusses common financial mistakes made by creatives and what you can do to fix them. No doubt, it is crucial that you establish good financial practices (perhaps more than ever) if you want to give yourself a good chance of running a successful business. Perhaps the most common mistake people make involves spending on unnecessary gear. New gear is a lot of fun, for sure, but it can be easy to rationalize it and confuse a want with a need. When it comes to business, unless a camera, lens, light, or whatever will create a positive net return, then it is not going to help your bottom line. Check out the video above for the full rundown from Ranft.
If you would like to continue learning about building a successful photography business, be sure to check out "Making Real Money: The Business of Commercial Photography With Monte Isom!"