Making More in `24!

I can't believe we're halfway through January. Before you know it, it'll be spring. (That's what I like to tell myself as we deal with single-digit temps here in Chicago!) 

This was -6 below with a windchill of -29F… and this isn’t a black and white shot!

Getting A Grip On The New Year...

I’m a member of a group where bloggers, food & product photographers, and content creators focus on the business side of running a creative company. Last week, there were a lot of posts about what people wanted to do to take a different approach to building their brands in 2024.

I shared what I did to build my business: I quit. 

As someone who spent 25+ years working in Hollywood, the bottom line is: the entertainment industry is ruled by the bottom line. While some think writing in Hollywood is “glamorous,” (and at times it is, though in reality, not so much!) creativity is often dictated – and limited by many things: budget, who decides on the final shot, and of course, the accounting department. 

For over 20+ years, I’ve also been running my other business, HomePlates (where I manufacture custom products for global brands and entrepreneurs) and also have my own brand. One of them is Best Ever Backdrops. No matter what size your company, there's one thing we probably agree on: As business owners, the bottom line is crucial to being successful. But not at the expense of one’s sanity.

So, there was a question posed by one of the members in the group about how they are never paid on time and what they should do? They were tired of chasing down clients for payments and oftentimes were waiting over 100+ days to be paid. (And this was happening with more than one client.) Their frustration – and the time they spent working as a collection agency, not only took its financial toll, but the time spent with this ‘extra curricular’ activity ended up costing them more money, not to mention, the emotional toll. The old saying: “time is money” has always been true because spending time on a task you’re not being paid for takes away money you could be earning for other work. Or simply spending time doing something you love. (For me, it’s playing tennis.)

When I started HomePlates, I didn’t have the luxury of playing tennis whenever I wanted, because back then, I undersold both my services and products and I also allowed clients to basically be in charge of how I operated. And then, I found myself getting burned out: what started out as a lot of joy turned into “I hate what I do.”  

At closer look, I didn’t really hate what I did… I hated that I was spending time chasing clients to be paid for work that was grossly undercharged. To give myself a break, I was starting out so there was a learning curve… but no one had a gun to my head, I was just not working from a place of confidence, the value of what I was providing, and I also needed some help with numbers…

I called an old friend who is a financial wizard. He and I grew up together since we were two and are still friends to this day. He looked at my costs and profit margins and showed me what I should be charging. At first I was hesitant. What if people wouldn’t pay that amount? 

“Then quit,” he said. You’re not making the money you deserve for the amount of time you’re putting in. He showed me in black and white, my bottom line: I could continue undercharging and chasing clients for “profits,” (that were not profitable) – or I could quit.

Quit?! 

I’ve never been a quitter, but when I thought about it, (not to sound like Marie Kondo) none of this was “sparking joy.” So, I tested out his plan for 2 months and every client I quoted  – using my new rates – and my new terms:  50% at the start of the job, 50% on delivery – all came through. And those who didn’t want to play on my terms? We didn’t do business. And guess what? I didn’t need the headaches, I didn’t need to chase my new clients for payment, and I stopped being stressed out. In those first few months, I made more profit than I did in the previous year. And the clients I worked with were dream clients… the kind of clients I’ve built relationships with over time. That was 20+ years ago and I’ve never looked back.

Making More In `24!

You have three great choices to be in control of your bottom line:

1. STOP PROMOTING SOMEONE ELSE’S PRODUCTS AND BRAND:

If you’ve always wanted to create something you know will help your followers – and also increase your profit margins, but you’re not sure where to begin and think it would be easier to swim the English Channel – you don’t need to put on that swimsuit! Ask me how. 

2. CREATE A NEW REVENUE STREAM:

You’re tired of relying solely on ad revenue, sponsorships, and collabs for your income and you know it's time to add options to increase your income but you’re worried you need a huge outlay of cash to get started. You don’t. Drop me an email to find out more.

3. YOU LOVE WORKING WITH BRANDS BUT WANT TO BE IN CONTROL:

If you’ve always wanted to stand out from your competition and continue to be the go-to person for your clients and also attract new business opportunities, there’s an easy way to elevate your brand awareness and bring in the kind of revenue you deserve – and not have to chase your clients down for payment. Let’s chat.

I also happen to have a FREE "Branding 101 Mini-Course" available for you that will guide you through the benefits of branding and share the quick & easy process of elevating your brand through creating unique custom products...

Really, the hardest part of change is making up your mind to change course and think outside the box. Once you do it, reaching your goal is easy. And if you’re like me, when I know what I want to do – I want to jump in and get started right away… and then wonder why it took me so long to do it!  As my mother Bernice would say: “There’s no time like yesterday.” She was right (in an odd sort of way.)