A Time For Learning - Improving the Business

Wednesday, November 12, 2008

I was a small business consultant for over 2 years and during that time I learned so much about why small businesses fail. Just check out the statistics on www.sba.gov and you will see what I am talking about. One of the top reasons for failure is the lack of financial planning. Its great to have talent but all of the marketing, branding, and new business in the world will not help you if your books are not in order.

Last year I made a commitment to attend at least one class or workshop every fall and spring to improve my business. So this week I am working on improving the financial planning and accounting. Just so you know accounting is my least favorite activity at the end of the month! For three days I cut out time to take a managerial accounting class and it has helped me immensely. I will admit it was very hard to sit still for three hours at a time but now I have a new outlook on the next few years and how I will grow the business strategically.

Now its back to shooting and editing. I am shooting today in Inman Park, tomorrow in Midtown, Sunday in North Georgia, and next week in New York.

Blog you soon!



Natarsha said...

Wow! American money...it has been so long since I have seen it. I am used to seing 1000, 5000, and 10000 bills..anyway, I have several workshops and classes that I will be attending in 2009 to help me understand the business and more technical aspects of photography. Speaking of which, I can't wait for you 2009 workshop classes to post :)

Have a safe, fun, and great shoots this weekend! Can't wait to see the images.

Onada - Fashion and Photography said...

Thats really a good idea! I just opened my business account a couple months ago and i'm trying to keep everything seperate! I'm an avid blog follower by the way. Love your work!

Lisa M. McGainey said...

Great info! I agree with you, accounting not my cup of tea. However when it comes to business you have no choice. Thanks, I will check out the sba site. Hope to see you in NYC.

Deewonda said...

BLEH!! Accounting and business management. Sooo very important but sooo challenging to wrap my mind around. And mama was an accountant for the Dept. of the Army for close to 40-years! I also need to make a commitment to learn the numbers if I want my business to prosper. Can't photograph well when you're worried about bills!