Revenue Reality Check: How Much Are You Actually Taking Home?
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We've all seen the Instagram posts – photographers proudly announcing their six-figure businesses. But here's what no one's talking about: a six-figure business doesn't equal a six-figure salary. Not even close.
In this eye-opening episode, Tiffany breaks down the reality of what photographers actually take home versus what their businesses generate. You'll discover why understanding this gap is crucial for building a sustainable business that truly supports the life you want.
Key Topics CoveredThe Revenue vs. Take-Home Reality
- Why photography businesses have some of the biggest gaps between revenue and take-home pay
- Real example: The wedding photographer bringing in $150K but only paying herself $35K
- Understanding what "take-home pay" actually means for your personal finances
Finding Your Personal Take-Home Sweet Spot
- A practical exercise to calculate what you actually need to live
- Breaking down essential expenses vs. desired lifestyle costs
- How to connect your business goals to your personal financial needs
The Profit First Approach for Photographers
- Why the traditional formula (Revenue - Expenses = Profit) is broken
- Setting up multiple bank accounts to automate your finances
- Specific percentage allocations for photographers
Comparing Business Models Through the Take-Home Lens
- High-volume vs. premium pricing: Which actually pays you more?
- Calculating your REAL hourly rate (prepare to be shocked)
- Why fewer clients often means more money in your pocket
7 Practical Steps to Increase Your Take-Home Pay
- Strategic pricing based on time investment
- Streamlining services for maximum profitability
- When and how to outsource effectively
- Developing passive income streams
- Plus 3 more actionable strategies
Community Q&A
"I've been in business for three years and just realized I've been paying myself less than my second shooter. I feel embarrassed and don't know where to start fixing this. Help!"
Tiffany addresses this surprisingly common situation with compassion and provides a three-tier framework for determining personal financial needs and implementing immediate changes.
Real Talk: What Photographers Actually Take HomeBased on working with hundreds of photographers, here's what Tiffany typically sees:
- Solo photographers ($100K-$150K revenue): $30K-$60K take-home
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