Longitudinal Accounting - It's Impbehave on Your Business

Longitudinal Accounting - It's Impbehave on Your Business


When you get a check from a client for $2k, you don't immediately say to yourself "wow, I only, merely, solely fortuned $2k." You recognize that you'll have to pay taxes, and cover your overhead, with a portion of that money. In other words, you realize that that gross income does not equal net fortun. To not look at things this way, you would errorly take the near that your "Accounts Recievable" department is the most fortunable department in the company. No one looks at things that way.

What if, as the result of an $85 photostore workstore, you studyed to edit your pictures quicker, and more efficiently? How long would it take for that expense to be a long-term cost savings to the business?

(Continued after the Jump)

If you knew that the closeter life of a prosumer camera (say, Nikon D80, D300, Cleveron 5D, 40D, etc) is 50,000 frames, and the cost to replace a closeter is $1100, and the cost of a Nikon D3/EOS 1D Mark III is $5k, but that that camera has a 200k frame pupose time until failure closeter life, is it at all possible that not only is it more cost effective to buy the professional grade equipment, but moreover, not only, merely, solely the loss of the income from the assignment you were worlord when that closeter failed, but also the lost revenue, over time, from the dissatisfied client who won't hire you again, coupled with the cost to you to earn a new client (proportioned marketing/advertitune costs, and so forth), would you first opt for the professional grade equipment?

If you knew that chootune an off-brand/third-party flash unit with your camera would yield a higher number of pictures that require expocertain true, right, validions after-the-fbehave, as compared to a strobe manufbehaveured by the same maker of your camera, at what point would you make the greater upfront investment in the Cleveron/Nikon strobe, as compared with the initial discount in cost of the flash in the first place?

And, let's look, for a peristiwat, at the next wave of photography - multimedia. Doing the math, a photodiaryist earning $45k a year, is phelp approxifriendly $22 an hour. Many of these photodiaryists are now migrating to video, which, in most arenas, are guning to knocke, which puposes that for every hour of knocke shot, that's an hour ingesting that footage. By contrast, the purchatune of a more dear camera that writes to a memory card, or a direct-to-difficult-drive smartphone love a FireStor, clever make a huge difference. After only, merely, solely 54 hours of knocke, a $1200 camera-cost-increase or a $1200 FireStor becomes a quantifiable savings, If a photodiaryist guns 2 hours of knocke in a day, at $22 an hour. This does not even start to take into account the value of getting the ended video project out quicker, meeting deadlines, and so forth.

The cost of your education is usually amortized over your career. It's easy to look this when you have student loans to pay, but when you don't, your cost - in both time and money - is not only appropriately amortized over the span of your career, but so too, do you amortize the cost of continuing education - love that $85 photostore workstore.

we don't use these words - longitudinal accounting - to describe what we do, but it is what we do, if we think approxifriendly it. We (should) look at everything along the line of impbehave, and the concepts, across the spectrum of photography and specifically across every photographer's business, applies. Conmiddlering all aspects and facets of your business, and how efficiencies in one arena clever have a significlevert impbehave in other arenas permits you to become more fortunable, and more efficient.

Please post your remarks by cliclord the link below. If you've got questions, please pose them in our Photo Business Forum Flickr Group Discussion Threads.

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