September 1, 2023

Become a CEO of your business – define your financial goal and understand numbers behind your creative business.

*Now the subtitles are available - click on CC*

Call about numbers 🙂 a bit overwhelming for beginners, but important for those, who wants to improve their businesses and get more profit. 

This was an introduction call into what numbers to track, how to understand variuos ratios, what numbers tell us about managing and improving our client processes, and more. 

A few things that we covered: 

  •  talking about budgets and how to include expenses into your business 
  • adding food shopping as business expense 
  • calculating expense ratio; profit ratio, 
  • tracking your personal expenses + my own personal system of the thirds that I apply into the business profit
  •  project quotations 
  • mapping opportunities and translating them into money + how to read these numbers so they help you manage or improve your business
  • and ratios of various steps in the whole Client Aquisition phase - welcome presentations/total pitched brands, quotation presentations/welcome presentations; contracts/quotations; contracts/total pitched brands....  

Next CEO will happen in December, so you have 4 months to implement the tools we covered and see your ratios. Then, we can talk more in details about ratios and see how everyone manages their businesses. 

For the next call, please, prepare:

- having your financial goal 
- have your budget updated; you can find it on this link, know your expense and profit ratio;
- have your hourly rate for photography services; you can calculate it in the same spreadsheet as the budget
- have your opportunities mapped out; you can find the sales pipeline on this link, 
- have your daily / weekly tracking of all client activities (# of pichtes, follow up, etc..) - you find it on the same spreadsheet as the sales pipeline - and have various ratios mapped out: (1) welcome presentations/pitched brands; (2) quotations sent/welcome presentations sent; (3) contracts signed/quotations sent; (4) contracts signed/companies pitched. 

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