What You'll Learn in This Episode

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 Covered

The 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

• 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

• Why the traditional formula (Revenue - Expenses = Profit) is broken
• Setting up multiple bank accounts to automate your finances
• Specific percentage allocations for photographers

• 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

• 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 Home

Based on working with hundreds of photographers, here's what Tiffany typically sees:

• Solo photographers ($100K-$150K revenue): $30K-$60K take-home
• Mid-level photographers ($50K-$75K revenue): $20K-$35K take-home
• Studios with teams ($250K+ revenue): $75K-$120K owner pay

Key Takeaway

Your business exists to serve your life, not the other way around. Getting clear on what you need to take home isn't selfish – it's essential for building a sustainable business that supports both your creative and financial goals.

Resources Mentioned

• Profit First by Mike Michalowicz – The book that transformed how Tiffany thinks about business finances
• Relay Financial – Free business banking with up to 20 accounts (perfect for Profit First implementation)
• Previous Episodes: Episode 001 (Money Mindset) and Episode 002 (Strategic Investments)

Homework

This week, calculate your personal financial needs using the three-tier system:

1. Good: What you need to survive
2. Better: What you need to thrive
3. Best: What you need for your ideal life

Connect With Tiffany

Join the Community: Join FREE Facebook Community where you can ask questions and connect with other photographers on their financial journey.

Work With Bastian Accounting: Learn more about our Done-For-You bookkeeping and tax services specifically designed for photographers at www.bastianaccounting.com