Business Bites Episode 121: Pricing, Profit & Planning at all Stages of Entrepreneurship

Pricing, Profit & Planning at all Stages of Entrepreneurship

Episode 121 on the Business Bites Podcast

The Gist Of This Episode: Knowing how to price and when to raise (or lower) prices is something a lot of entrepreneurs struggle with. In this episode, Rachel talks to Amanda Holloway about how to set your prices where they need to be plus future financial planning. 

 

What you will learn: 

  • the benefits of batch processing
  • how to break down your pricing so you can figure out where your money goes
  • ideas on how to increase your money other than raising prices
  • ideas on using your prices as a filter rather than a marketing tool
  • and more!

Expand To Read Episode Transcripts

Rachel Brenke:
All right. Hey guys, welcome to episode 121 of the Business Bites podcast. I am your host, Rachel Brenke. Today I am joined by Amanda Holloway who is a photographer, educator and overall amazing person, and business owner. She has a very tough love approach just like I do, so I’m excited to talk today, Amanda.

Amanda Holloway:
Yeah, me too. I’m excited to just kind of share the information. I’ve specialized in financial businesship and I think that a lot of this industry, creative entrepreneurs, they lack the info. So I’m always really excited to share that.

Rachel Brenke:
I mean, what’s good is that we have listeners that are not creatives also. The information’s going to be able to help anybody, but definitely, creatives have a need. We were talking about this before we got on here because we’re recording this during the Coronavirus pandemic and how creatives are especially stressed out right now. And so my goal with doing these podcasts and bringing someone on like you, during this time, is to kind of help them give a little sense of control. Maybe reduce a little bit of the stress, get their brain around finances, get their brain around just business in general, so that when we come out the other side, they’re ready to rock and roll.

Amanda Holloway:
Yeah.

Rachel Brenke:
But I want you to share a little bit about your path to entrepreneurship and how you got to where you are now.

Amanda Holloway:
Yeah, 10 years ago, a little over 10 years ago, I was a juvenile probation officer. I was actually in the law enforcement field. I have two degrees, one in criminal justice and one in psychology, nothing to do with anything that I do now. And I was a juvenile probation officer, and I had a lot of violent female offenders, and I loved working with them. And then I got pregnant and had my son, and through wanting to take better pictures of him and document his life, I literally fell into being a photographer. It was almost overnight.

And of course, with the glory days of Facebook, I could post a picture of my kid and all my friends saw it and they said, “Oh my gosh, you should come take pictures of my kids.” And I was like, okay. I did and I turned it into a business. And quit my job as a juvenile probation officer and now I specialize in high school seniors with boutique style photography. And then, throughout the years I’ve found that apparently I run my business in a way that a lot of people want to understand, and so I educate as well. And like I said before, I focus on finance and the business methods and psychological sales practices that come hard for a lot of entrepreneurs, that’s my jam. That makes me super happy and I always love to talk about it. That’s just how it kind of happened to me.

Rachel Brenke:
I miss the glory days of Facebook and social media when you could post and everything was seen and there were not algorithms.

Amanda Holloway:
Right?

Rachel Brenke:
But here we are, which brings me to… I was going to ask you, like I ask most of the guests, what is something you would change from when you first started out? But I’m wondering if that advice might change since the landscape of advertising and social media has changed since the beginning. I mean, I guess what is one big thing you would do differently?

Amanda Holloway:
Gosh, I try not to have any regrets or changes. And I think I jumped on social media when everyone else was scared of it and I was charging huge prices when everyone else was scared of it. I was doing things, and that’s my personality is very like make that decision right now and go for it and go 100%. I think one of the-

Rachel Brenke:
And then call your lawyer after.

Amanda Holloway:
Yes, and I think that that’s something that has really helped me become as successful as I have been because I didn’t second guess myself, I just went and did it. When people were starting to get on Instagram, I was like, oh, here we go. And so I got on it really hard and I think the main thing that I would change is just consistency. I’m not very good at being consistent and I think that is because I’ll hit something really hard and then I’ll get kind of burned out. And then I’ll hit something really hard and then I’ll get burned out. And so consistency on social media for me has been an issue but of course, when you can be consistent on social media, that’s the best. And that doesn’t mean every single day of your life, it means if you want to commit to three times a week, commit to three times a week. If you want to commit to two times a week, commit to two times a week. That for me has been an issue and I’m still getting through it, just scheduling.

Rachel Brenke:
Do you think that’s a personality thing, a life thing, or maybe attached to being a creative? Because I’m the same way.

Amanda Holloway:
I mean, I think that definitely personality wise it’s something, I’m the kind of person, I’ll get really excited about something and go all in. And then a year later it’s like, wait, what happened with that? For me, I’ve had to slow down my excitement and focus it into a schedule. I’ve actually created three months out of Instagram posts because what I have found that I want to do is I’ll get really excited about a shoot that I do, and I’ll want to post their pictures right then and there. And I’ve learned over time, that that trips me up. I can’t do that, I have to schedule. And so if I have to put it at the end of three months, I’ll put it at the end of three months or I’ll move something around. But scheduling for me, makes that part of my personality slow down. And so for me, I’ve seen a lot of really good stuff with that.

Rachel Brenke:
I noted that over the last few weeks when you weren’t feeling well, your site A-List Creatives, which by the way, I’m going to link all of Amanda stuff rachelbrenke.com/epi121. But I saw the A-List Creatives stuff being posted and I was like, no, she’s sick. I know that she had this all scheduled out, smart woman.

Amanda Holloway:
Yeah, I’ve got about a three month schedule going and I’m just trying to dump as much education as I can. And I’ll sit for probably an hour or two sometimes and I will just dump tons of thoughts and education into my little Trello board of a schedule. And then my designer will do all the graphics, but it’ll be done. And that’s what has been really helpful so that if I do get sick or something does happen, especially, I mean, I have a special needs son. If anything happens, my business still runs in front of everybody else, even though at home it may have come to a halting stop.

Rachel Brenke:
No, I did. And I was there with Tash a couple of weeks ago. I’ll link it on show notes page for you guys, but we talked about her heart issue, and all the lessons that she learned from being sick with that. That’s a really good one. If you guys have questions about that, getting prepared for that because it may sound really good, three months. How can I get my head around that? Go over and listen to Tash’s episode. But let’s go ahead and move and talk a little bit about finances here. And guys listening, all the tips that we’re going to share, you may not necessarily be able to go out and do today. Especially if you’re a photographer, you’re not going out and doing photo shoots today.

Take this as more of like a planning session. You may not necessarily get to actually do them, but don’t get frustrated. I find that finances can be frustrating just because we’re not taught about them in school, but especially for creatives. Amanda, what would you recommend to the creative or entrepreneur listening that has no experience beyond personal management of a very simplified budget, but how do approach that in your business?

Amanda Holloway:
Right, the main thing is, definitely just start taking an interest in what finances look like. I think everybody, we know how to run a bank account, but then what? And most of us run the same ideas when we have a business bank account, when actually what you need to be doing is looking at years in the future. Most entrepreneurs do not have a retirement account. Most entrepreneurs do not have a business emergency savings account. Most entrepreneurs are grossly underpricing themselves out of fear or they’re trying to use their pricing as a marketing tool.

And one of the best things that you can do is just realize that you are probably making pennies an hour, of your time, and you really need to do the math. That’s one of the things that people hate when they come to my educational stuff. They’re like, here we go with the math, but it’s the truth. That’s the only way that you can look. If you sit down and write out, what’s your average hours per client that you spend. Are you spending 10 hours per client for a project? Okay. What is your gross income out of that? If it’s $300, okay? Well, you think, all right, I’m making $30 an hour. That’s not that bad. No, no, no, no, no. You’re not making $30 an hour. I want you to take out your cost of goods, cost of running a business and your income tax bracket.

And that’s when everyone’s like, “Oh crap, I make 5 cents an hour.” They don’t realize. They think, “Oh well, $30 an hour. That’s not bad.” No, you’re not making $30 an hour. First and foremost, do that math. Figure out how much you are netting per hour. And it may come as a shock to you, but you need to know. And then, figure out how to price yourself correctly. And then start dumping your finances, your money, your extra money that you have every month into a retirement. I prefer to pay myself first. So the second that it hits the first of the month, I’m already withdrawing into retirement accounts. One in five women invest versus one in three men, which can tell you right there, that’s so jacked up. Why aren’t we as women taking care of ourselves?

Things like that. What got me interested in it was my husband and I decided to become debt-free, probably 13 years ago. And we bought some books. Dave Ramsey is great, David Bach is fabulous. And Suze Orman, although, I think she’s a little out of touch now with what’s relatable. But those books helped me understand, because like you, we weren’t taught this in high school. I didn’t know, you’re not taught any of this. And so I had to sit down and say, okay, enough what the crap I’m going to sit down, read my books, start to understand things. I sat with a highlighter and it really helped me understand. And that was before I even owned a business, that was just for my personal expenses. And now that I own a business, it’s taken on a totally different beast because right now with a Coronavirus, I have a business emergency fund, and I was able to do that because I priced myself correctly.

Most entrepreneurs don’t know how to price themselves. And so when they are grossly underpriced, they can’t put money aside for retirement, they can’t put money aside for an emergency fee or an emergency fund because they don’t make enough money to do that. And then when something like this happens, it’s just a domino effect and you end up claiming bankruptcy for your business and closing up shop. It’s just the [inaudible 00:12:33] effect.

Rachel Brenke:
Amanda, I know so many are thinking, “Oh, well I’ve done the numbers.” But I want to ask them, how long ago was that? Did you do that back when you only needed X amount and you only spent Y amount? How much different additional expenses have you added on into your business? Has cost of living gone up and all of that?

Amanda Holloway:
[crosstalk 00:13:00] Have you had kids since then? And that’s something that I think a lot of, especially in my industry, photography, you know what? A long time ago, probably 10 to 15 years ago, somebody came out with a guide that said you should charge three times your cost of good. And everyone ate that guide up and were like, “Oh my gosh, yes, three times the cost of good.” Well guess what happened? Everyone was priced the same, and you had families that had seven kids that couldn’t make ends meet and they were like, “Well, we followed this. Why aren’t we making enough money?” What you charge should not be based on some crazy formula that the rest of the industry has to follow as well. No, what you charge should be based on factors like what you need to survive and what your family needs to survive.

When you negotiate your own prices with clients or potential clients, you are quite literally negotiating food out of your children’s mouths. And people don’t understand that. You need to look at what it costs for you and your family to live every month. And you need to find a way to factor that into your pricing and understand that your business may need to be more high-end because you just have higher needs. Or you may have to work X number of hours extra because you have seven kids versus two kids. All of these things, people don’t think of these as factors into pricing your business. They’re like, “Well, that’s my personal life.” Well, if your business doesn’t pay for your personal life, you’re not going to be in business for much longer.

Rachel Brenke:
Well, and I think it also depends on where you’re at in your business as well as your life circumstances. When I started out, I was still working in corporate world because we needed the funds, but my business wasn’t returning the money. And [inaudible 00:15:01] the beginning. But as you grow, hopefully in your business, your family might start relying on that income. And if you haven’t taken the steps to do the proper math on this, and I love that you bring up that guide because I don’t even think it exists anymore. I don’t know anybody who’d subscribe that model at all anymore.

Amanda Holloway:
It’s not sustainable.

Rachel Brenke:
Not at all, not at all. But is there not some sort of formula that you need to look at or is that kind of, I guess for me, I still always try to say I want to put X of what I’m earning aside for taxes, I want to put X aside of this. I mean, do you have like a set formula or how do you figure that up or advise somebody?

Amanda Holloway:
Yeah, a lot of it is that math that we just talked about in deciding. What I have all of my educational clients do, I have a course called Pricing for Profit and we go through all of that math in there. It’s super, super intense. And all of my students come out of it and they’re like, I had no idea. And I’m like, well that’s a problem, you need to know.

Rachel Brenke:
Yeah, that’s why you’re doing it.

Amanda Holloway:
And you have to break everything down. And I think that’s where people, they just don’t want to or it’s scary. Ignorance is bliss. And so I say, okay, what do you think you want your average sale to be? And they say, “Oh, well $1,000 will be great.” Well, what I usually do is I have them take that and I’m like, okay, let’s break that $1,000 down. How much of your cost of good is going to come out of that, 100 bucks. Okay, well what’s your cost of running a business? Okay, well you’re going to take another $150 out of that. Okay, well how about your income tax based on that? Okay, another hundred dollars is going to come out of that. Now you’re down to $650. All right, now, how much of that is going to go to your personal account and how much are you going to cover your groceries, your bills, your mortgage.

We break it down and you have to do that. If you don’t strip everything and basically bring it down to a $0. Give every single dollar in your income and name, it all has a home somewhere. And that right there will tell you if you’re making enough or if you need to work more or if you need to increase your pricing.

Stripping all of that away and assigning each dollar a home will really help you understand. Oh, okay. And some people realize, I don’t need to increase my prices, I just want to take on two extra sessions a month and that’ll get me to where I’m happy. But people, they also don’t factor in things like a retirement account or a savings account and they need to factor in those things because then, if you’re just living paycheck to paycheck on what your current prices are, you’re going to continue to live on paycheck to paycheck. Your goal should be to make above what your current standard of living is so that you can put money aside if you need to.

Rachel Brenke:
And I love that you brought up the retirement account and the savings account because right now, during all this Corona stuff going on, photographers aren’t shooting. And I’m getting tons of messages and I’m seeing in groups where people are freaking out because they don’t have any money coming in. And it’d be really unkind of me to be like, well, I’ve been talking about this for how many years on my podcast.

Amanda Holloway:
I know.

Rachel Brenke:
But I’m not one to sit here and shame them. Is my savings where I necessarily want it to be? No. And I think that’s kind of the point that I’m trying to get at here is, you’re never going to be fully prepared, but also don’t fall into listening to this episode and go, well, I just don’t have any room in my budget. I need every dollar, or I only have $20 leftover at the end of the month, whatever. Well, don’t go blow that $20 on buying four Starbucks drinks, stick the $20 into a savings account. Right?

Amanda Holloway:
That’s a load of crock anyways. The whole like, “Oh, well I just don’t have any more.” Yes you do. I guarantee you.

Rachel Brenke:
I’m going to push back. Now our real dynamic comes out here.

Amanda Holloway:
Bring it.

Rachel Brenke:
This is [inaudible 00:19:19]. I just think about in the beginning when I was like working nine to five, I was waiting tables and we literally were scraping. And I was wanting to buy a new camera. I was wanting to get X, Y, and Z, and we just didn’t have the funds for it. I mean, there are people listening that have, I mean, they don’t have any wiggle room. What can they do with that?

Amanda Holloway:
Sell stuff.

Rachel Brenke:
Yeah, that’s what I did.

Amanda Holloway:
Sell something. Yeah, sell something, pick up an extra job. That’s the tough part because yeah, barter, because a lot of people are like, “Oh well, I just don’t have any extra cash,” but there’ll be driving a car that’s maybe only three years old. And I’m like, wait a minute. You’re paying probably around 600 to $700 on that car a month. You could trade it in right now for something really cheap and not have to pay that. You could get really creative if you need to. My husband and I started this process of becoming debt-free when we were living in an 800 square foot apartment in the ghetto. I was driving the car that my mom bought me when I was 15 years old and he was driving the truck that he had had for like 12 years. Insane.

And I mean, we really had to get creative. We were eating peanut butter and jelly sandwiches. But here’s the thing, Rachel, most people just don’t want to live like that. And I get it because it sucks. And they’re like, but we should be able to go to a movie. We’ve worked hard all week long. Let’s go see a movie. Well, that’s 25 bucks right there.

Rachel Brenke:
That’s if you don’t eat.

Amanda Holloway:
Exactly. And people just don’t want to live like that. It’s, “Well, I’m going to go to Jack in The Box and get something for lunch, on my lunch break.” It’s little tiny things like that that people don’t consider as luxuries when they actually are. And that’s what we call the latte factor. It’s all these extra little teeny tiny things here and there.

Look at your cell phone bill. Is there any way you can take it down? Do you need all those cable channels? Do you need the fastest internet right now? Do you need the latest and greatest phone? Do you need that car that’s sitting out on the driveway right now? All of those-

Rachel Brenke:
But I would even- Go ahead, go ahead.

Amanda Holloway:
No, you’re fine. All of those teeny tiny little things can shockingly add up. And my thing is, if you really want to know, right now, for the next three months, don’t do anything, don’t change what you’re doing at all. But at the end of every single month, write down every single dollar you spent and where you spend it.

Rachel Brenke:
Just guess what the beauty is? You can’t go out to the movies right now.

Amanda Holloway:
Exactly. [crosstalk 00:22:25]. Here’s the thing, people are starting to realize, they’re like, where’s all this extra money coming from? And I’m over here waving my hands and yelling and saying, guys, you’re not going out to eat. You’re not going by Starbucks in the morning, you’re not going to the movies. And people are thinking, “Oh my gosh, she was right this whole time.” It adds up to hundreds of dollars a month if you’re really loose with eating out. These little things just add up over and over and over again.

Rachel Brenke:
But the thing is too, let’s think of it back what you said about it might not even be having to increase your pricing. Maybe they’ve done the math. We’re in a good position and it’s something as simple as add on two more sessions. I definitely subscribe to the idea that there are times you’re going to have to pay your dues, as the expression goes. You’re going to have to put in the extra time and you’re going to have to do the extra sessions are what you need to do. And I think one of the fallacies of this social media, flexible, balance-it-all message, and I think I’m part of that too, I’ve kind of helped spread that message, but I’m trying to counterbalance that with, you can’t have that and expect to maintain that and have the money. Even fixing your price appropriately won’t necessarily always help you, depending on your situation. There’s going to be times you’re going to have to work longer hours. And I think this is a balance between burnout and loosey goosey, latte this, and travel.

Amanda Holloway:
Well, and I’ve maxed out my market, I’m at my max right now, and I know that with my clients. And so if I wanted to make extra money, I would just have to take on extra clients. I would not be able to increase my prices at this point. I would just have to take on more clients. And because for me, I only shoot a very specific number of clients per year. I would just have to take on more, and that happens.

Rachel Brenke:
How do you know when you’ve maxed out your market though? How do you know that you’ve reached that number? Because I think sometimes, you can do the math, you can look at it and see, okay, I need to charge X per session or X per whatever service I’m providing and do eight a month. But how do you know when you’ve maxed out your market to have to get creative?

Amanda Holloway:
Several years ago when I had lower prices, I would book out six months in advance. People had no problem booking me and I was having to beat people off with a stick. I would have to turn down 20, 30 people. I knew that I had not maxed out my market yet. I had too many people saying, “Oh, I could totally pay those prices.” What you’re trying to find are exactly how many people you want to book with you a year. And those are the people that are saying, yes. That’s it. If too many people are saying no and you’re not able to book, then you’re priced too high. If too many people, it’s supply and demand. If too many people are saying yes and you don’t have enough spots, you’re priced too low. It’s that perfect middle ground to finding out, okay, I only want to shoot 40 people a year. I have 45 people that booked with me. Perfect. That’s great.

If you have hundreds of people inquiring with you and not that many people are booking with you but you’re still fulfilling that reserve that you’re happy with, then your priced where you can be, but if it’s over or under it’s walking that fine line.

Rachel Brenke:
But in order for that to work, you have to be doing the proper marketing.

Amanda Holloway:
100%.

Rachel Brenke:
Do you want to touch a little bit on how do you balance them or I mean, how do you know that you’re marketing? Because I know we talked about, you briefly mentioned it earlier and I kind of want to circle around to close this out with this of not to use your pricing as a marketing tool. How do you make sure you’re doing the right? How do you know which is, you’ve met your max or your pricing’s not polarizing people or maybe just your marketing sucks?

Amanda Holloway:
For me personally, I run a boutique business. I have a fashion closet, a massive closet full of couture labels and fun outfits that they can pick for their session. I have a studio in my space. I have always pushed the experience, and it is a high end experience. And I think that’s expected. You know you can’t come to Amanda Holloway photography for 300 bucks. And I have actually used my prices as a filter instead of a marketing tool. I hope that it filters out 90% of the market. I think people think that backwards. They think, “Oh, if I have low prices, I’ll get as many clients as I can and then they’ll spend big money.” No, that never works, and then you get crappy clients who undervalue you. I have flipped that on its head and I’m like, look, these are my prices and you can go look at my website right now. These are my prices, this is what you can expect to spend with me. And that’s it.

And most of the people are like, I’m not even going to email her. Good. I don’t want you to email me. If you can’t afford me, don’t even email me. But if you are interested and you’re like, you know what? I can spend that. Let me see what she’s all about. I send this massive magazine. It’s all about the experience. That is what they are buying into, is the experience because if you are marketing on just your prices, then what makes you different from the other photographer that’s priced even lower than you are? You have to have something else to market, you have to. And so by you marketing what makes you different and unique and that nobody else can get. If they don’t come to you, then that’s when you know that you’re marketing the right way.

Rachel Brenke:
Would you say that’s the same advice for someone that’s just starting out too? Or maybe I should rephrase it this way, what would your advice be for someone starting out when they’re trying to mesh their pricing with the formula stuff we’ve talked about, doing all the math, with choosing what marketing actions to take?

Amanda Holloway:
I always call it that first couple of years hustle. Don’t expect to enter a market at crazy high sales and just think it’s going to work for you. It may, it may not. You may have to hustle a little bit more. You may have to pull your prices down a little bit and shoot extra or sale extra. You may just have to put more hours into the game. And that that’s that hustle. It is what it is. That’s how you get established and become a household name in your area is by doing as much as you can, getting everyone on board and becoming a name brand in your area. You just have to be in everyone’s face all the time, constantly. And that has nothing to do with your prices. That is you going and just getting down there.

Now, do I think you should shoot for absolutely nothing? Hell no. Price yourself to where it’s worth your time. It’s worth your time away from your family. You’re making money, you’re able to put a little aside. But people, photographers or entrepreneurs who have been there and are charging $10,000 per sale or something, you’re going to have a hard time competing with them if nobody knows your name. They put in a lot of time and so you’re. You may have to bust it for three years to get your name out there to become that brand that can do high sales.

Rachel Brenke:
And the good thing about it too is, you can look to those that are already in the market and see who they’re serving, and how they’re serving them. And then your question to yourself is, do I want to take these established people on or is there a void in the market? Because I think that’s one of the things, and I think this goes back to also some of what that guide spoke to, and I hear this from other people is you’re either low priced, middle priced, high priced. But I mean, there’s upper high, there’s lower middle. There’s all these other segments that everyone completely overlooks and they’re not serving who’s not being served.

Amanda Holloway:
Exactly.

Rachel Brenke:
They automatically do what someone else is doing and so all of it really, to me, looking at what is available in the market but also what is my goal financially here? And I may not be happy and this is also a very unpopular opinion, I think. Especially in creative industries is, I’m okay serving clients that are not necessarily my ideal client, if that’s all it’s going to pay my bills for a certain amount of years.

Amanda Holloway:
Exactly.

Rachel Brenke:
So I can invest in better marketing. Because you’re talking about this high end closet. Well we probably have someone, and it’s fabulous by the way, I’ve been there, I love it, but you have someone listening who is back on step one at the beginning of the episode going, I’m just now figuring out my pricing. You know what? You might not be able to offer the Amanda Holloway type experience. Maybe you want to, make that a three year goal. Maybe you want to go for middle pricing or upper middle. I don’t know. There’s all sorts [inaudible 00:32:30] that are not the direct ones as hers, but it all circles back around to what you are pinpointing earlier. You talked about retirement, we mentioned about a business savings, a rainy day type savings, but also, what’s your three to five year plan savings because you’re going to want money to do things in the future.

Amanda Holloway:
Exactly. Well, and I mean Amanda Holloway didn’t have the Amanda Holloway experience in the first three, four, five, six years. I mean, this has taken 10 years to create. Gosh, I would go down to the Woodlands, I would photograph them there on their turf. Now, they’ve come to me. And I would do ordering sessions in people’s homes. I didn’t have a studio. I didn’t have a place to meet. I was like an Avon lady and I hauled all of my products down and I would unload them at their dining room table. And I did the hustle. You just, you do it. And I made good money back then. I didn’t have any overhead. It was awesome. And sometimes, I kind of wish I could go back to that because there was no overhead.

Now I have this big studio and all these couture clothes and it’s got to be clean and we got to pay the studio rent, all this stuff. But I didn’t start out like that and I was still making $4,000 average sales, going into people’s homes. I was offering something that nobody else was back then. 10 years ago, it was, this industry was kind of still like doing the big foam numbers. Here’s me in my 2020 on a white backdrop. I wasn’t doing that. I was doing more natural light, magazine-type shoots and nobody else was doing that. I picked up really fast, but I was also meeting them in the middle because I was hustling. I was shooting as much as I could. If someone wanted to book me, I shot it, ready to go. And that’s that hustle in the beginning. Don’t feel that you have to bust down the door in your area with a couture closet in a studio and have this and a makeup bar. No, you don’t have to do any of that. You can do the hustle. You just have to want it bad enough.

Rachel Brenke:
Well, and I think that it all can be rooted in finances. You can only work with what you’ve got. As long as you’ve done the math properly, you’ve identified your cost, then you really can see what you can do, what experience you can provide, what services you can provide, who you’re in or provide to, it really can be. And you and I think are a little different than many creatives in that we are very business minded in logically thinking. We sit and do numbers and we’re good with that. And I sympathize, empathize, I don’t know what the word, for those that don’t necessarily have that natural intuition but becomes so frustrated and overwhelmed. And I guess my little rant right now is more of an encouragement that it’s okay if you’re feeling frustrated because you’re having to photograph or serve a segment of the population that you don’t necessarily want to.

You don’t have to do it longterm, but what we’re doing with this podcast really is to show you, do what needs to be done so you can do that because if you don’t take those financial steps, you’re never going to get out of the frustration you’re in now.

Amanda Holloway:
Exactly, it’s going to be a cycle over and over and over again. Yep.

Rachel Brenke:
Yep. Well, Amanda, thank you so much for all of this. What I’m going to do for you guys is to link on the show page, rachelbrenke.com/epi121, I’m going to link all of Amanda’s resources. You can go check it out. We’ll put a thing for her Pricing for Profit and her membership site, all these great information. Even just following A-list Creatives on Instagram, I learn a lot and I am how far into business on this, but she really puts out quality content so make sure that you guys go and follow. Also, please make sure that you leave a review on whatever podcast platform that you’re listening on. It really does help the show and I’ll see you guys next week.

Featured Guest & Resources

Amanda’s business jam is just that… BUSINESS. The money, the legal, the formulas, the psychology. It all makes her so freaking hype and she starts to get all loud and excited… just ask the thousands of photographers and business owners she’s taught in the past decade.

She fully believes that every single person in this industry has the right to make an incredible income and be the bread winner in their family. She’s done it… Amanda went from making $36,000 a year in law enforcement to seven figures. She’s driven that struggle bus and she got off it. Amanda took a budding business and created the dream career that she never thought she’d have and as clichè as it may sound, she can teach you how to get off the struggle bus too.

You can find Amanda here:
Website
Instagram

Hi, I’m Rachel Brenke

Rachel Brenke

As a mom, team USA athlete and cancer-survivor, I want a real life while I have a real business.  This is why my resources don’t promote hustle-culture, rather tough-love and no-holds-barred tips to achieving both.  In addition to this website, I have a top-ranked business podcast, been featured in places like Forbes and work 1:1 with so many of you.

Enough about me though. I am proud of you for pursuing entrepreneurship. It is rewarding and amazing.  Keep at it!

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