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HOW TO FEED A STARVING ARTIST
A Financial Field Guide for Creatives,
Solopreneurs, & Other Anarchists
David duChemin
CraftAndVision.com
CHAPTER 1 CHAPTER 4
HARD BEGINNINGS........................... 7 GETTING OUT OF DEBT.................... 27
First, Change Your Habits............................... 28
CHAPTER 2 Spend Less......................................................... 31
HAPPY VALENTINES DAY.................16 No More Credit................................................. 35
My Story, Part One........................................... 16 Renegotiate Your Credit.................................. 36
Sell Stuff............................................................. 37
Make a Plan....................................................... 38
CHAPTER 3 Pay Yourself First.............................................. 39
BEER ON THE BEACH........................20
Q+A With Photographer David Kingham.... 41
My Story, Part Two........................................... 20
CHAPTER 5 CHAPTER 6
SAVING MONEY...............................51 MAKING MONEY..............................85
Spend Less......................................................... 52 Create Value...................................................... 89
Talk About Money............................................ 54 Create and Engage an Audience..................... 92
First Things First............................................... 55 Everything You Need to Know
Pay Fewer Taxes................................................ 56 About Networking.......................................... 100
Invest Your Money........................................... 61 Create Multiple Income Streams.................. 105
Choosing a Financial Advisor / About Craft & Vision..................................... 112
Dean Martin, Chartered Life Underwriter... 67 Scaling.............................................................. 124
Q+A with Amy Kerr CPA, A Word About Pricing................................... 125
The Accountant for Creatives......................... 77 Automation..................................................... 131
Sell Your Waste............................................... 133
Getting Creative.............................................. 135
Five Ways to Make The Money Stuff Easier /
Corwin Hiebert............................................... 142
Q+A With Comedy Performer, David Aiken,
The Checkerboard Guy.................................. 157
CHAPTER 1
HARD BEGINNINGS
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making the rich guy richer and the ones who so need the
information even poorer than they were. It makes me want to
take a shower. No one should work for free as we all have bills
to pay, but the slick salesman with the million-dollar smile and
the hundred-dollar haircut makes me feel kind of slimy. Fortu-
nately for you, due to the lack of real effort needed, my haircuts
cost much less than that. Still, its hard to talk about the money
stuff without feeling like apologizing. My hope is that this sen-
sitivity has kept me on track, and helped me create a book thats
honest and helpful without so much as a whiff of snake oil. I
wont try to sell you a thing. Youve bought the book, and thats
enough. Perhaps it will help if I tell you right now that I have
no illusions about being an expert on these matters. In fact, I
think thats one of the things that stands in the way of so many
people getting their finances in order: the belief that, beyond
spending, knowledge about money is complicated and requires
you be an expertor the willingness to become onein order
to make sense of it. It does not. It requires a little humility to
acknowledge that theres much we dont know, and then the
willingness to consult and learn from those who do. Im not an
expert, just one creative who finally got his finances together,
is doing what he loves with his life, and wants to help others do
the same.
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Nothing in this book works. They are just words. And this is
not Harry Potter where the words themselves will do a damn
thing. They wont. There are no magic spells. Nothing in this
book is easy. If youre reading this now and havent bought the
book, and youre hoping for a get-rich-quick book, the best
money youll make today is to put this book down. You just
made $10. Because money saved is money earned. I repeat,
nothing in this book works. Unless you do. Ive read a lot of
books about money in my desire to learn everything I could
about it. Some books profess to tell secrets. There are none.
Its actually relatively simple. But simple and easy are not the
same thing. If theres a secret its this, and I promise you, Im
not being flippant, Im speaking to my early-20s self: spend less
than you make. Save and invest the difference. See? Easy. But
for many of us, painfully difficult. The payoff is immense and
liberating, but its not easy. If it were easy, everyone would do
it. Sometimes its easier, no matter how big our dreams, just
to give up, buy the latest shiny thing to distract us from our
dreams growing ever-distant, and watch TV while we wait for
our ship to come in. There is no ship. The only one thats ever
coming in is the one we build ourselves. To suddenly switch
metaphors, most of us forge these chains ourselves through
our inaction and bad decisions. If these chains are going to be
broken, were the ones that have to do it.
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I wrote this book for people who want freedom. Freedom does
not come from money, but financial bondage prevents it in
many areas of our lives. I want you to have the freedom I have,
and to be as unencumbered as possible. You have dreams.
And while I dont know what they are, I know theyll be bet-
ter served without the bondage of debt and constant lack. Our
dreams are hard enough to launch without added burdens.
What I know is this: its not complicated, but its hard. And it
can be done. The hardest part is taking the first steps.
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CHAPTER 2
HAPPY VALENTINES DAY
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Signing away my debt was among the most difficult things Ive
had to do, not because I wasnt glad to be rid of it, but because
I was raised to lie in the bed I make and to be responsible. The
failure and shame was the hardest part. I will always be grateful
for my trustee, a kind woman who spent the next six months
recalibrating my financial habits and gently massaging my
bruised spirit.
Im telling you this for a couple reasons, not the least of which
is my need to be candid about the path I took out of debt. Its
not the way I would have chosen it, but if I had to do it again,
the way I did, I would. I should have been more responsible. I
wasnt. I should have paid my debts. I couldnt. But in the end
I dealt with my debt legally and in good faith, having tried first
to renegotiate that debt and pay it off. Canadian bankruptcy
laws required certain things of me, and there were a couple
debts the bankruptcy would not absolve me of, so I paid them.
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CHAPTER 3
BEER ON THE BEACH
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You need residual income, Dave. Hes one of the few who gets
to call me Dave. And after that conversation he can call me
whatever he likes.
I went home and wrote my first short eBook. It was called TEN:
Ten Ways to Improve Your Craft Without Buying Gear. It was as
short and beautifully designed as the subtitle was long. I put it on
my blog, a growing resource for photographers, and sold it for an
introductory price of $5. To my shock, people bought it. Many,
many, people bought it. Then more. I never did raise the price.
In fact now, as a thank you, its now free. It owes me nothing. I
followed that book up with the cleverly titled, TEN MORE. And
sold that for $5 as well. Now, five years later, my accidental pub-
lishing effort has a name: Craft & Vision. We have over 50 eBook
titles from over twenty authors, myself included, and are now
creating video resources, and a bi-monthly magazine, all earning
over $1 million dollars gross annually. That income allows me
and the authors we publish to continue to do what we love, and
to serve an audience for whom we care deeply. It has been an
astonishing five years, and were just getting started.
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I believe that creative people can make a living doing what they
love. I do not believe its ever easy. But it can be done. The prob-
lem, or one of them, is that creative people often put too much
stock in their creative work, their art, and not enough in the
realities of business: marketing, sales, accounting, and basic
financial savvy. Open to immense possibility in other areas of
their lives, creatives shut down when its time to talk about
money and business. Thats a shame, because the romance of
the starving artist is overrated. I know great art has been created
in the context of hunger and lack, but its by no means a prereq-
uisite. The families of creative peoplethe innocent ones who
didnt sign up for thishave a stubborn need to eat. In the past,
artists found patrons to underwrite their living expenses so they
could create whatever it is they create. The time has never been
better to become your own patron.
How you become your own patron is the topic of this book.
It begins with gettingand stayingout of debt. Ill then
discuss saving money and leveraging that money, and end
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Open to immense
possibility in other areas
of their lives, creatives
shut down when its
time to talk about money
and business. Thats a
shame, because the
romance of the starving
artist is overrated.
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One last thing, and this one might be a stretch. I need you to
believe you can do this. I dont much believe in putting it out
to the universe or in positive affirmations, per se. But I do
believe that what we think and believe has a profound effect
on our actions, and practically speaking, nothing in this book
will mean a thing to you without action. You have to want it,
and believe its possible, not because that will make a hill of
beans worth of difference on its own, but because without that
attitude youll never have the fuel to move forward. Action is
everything and only you can do that. If you believe you cant,
then youll prove yourself correct. We have so much potential,
both to make extraordinary changes in our lives or to sabotage
the possibility of those changes.
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CHAPTER 4
GETTING OUT OF DEBT
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Even if you are not deeply in debt, these principles still apply
to anyone who wants to make both a life and a living by their
creativity and wants greater financial freedom. As Ive said,
doing that is simple. Not easy, but simple. That said, this
chapter encourages some austerity measures, some of them
fairly dramatic. That should not set the tone for the rest of this
conversation about money. I live with an abundance mentality,
and will happily spend $100 on a bottle of wine when the occa-
sion calls for it. I have my own vices. I own nice things. I know
I cant have them all, so I make what I hope are wise choices,
but whats wise for mea vintage watch, for examplemight
be foolish for you. Thats a different conversation. Whats rele-
vant here is a different kind of spending, and right now, thats
about debt and extinguishing the flames that threaten to burn
down the house. Your house. Now is not the time to cling to
your desire for the nicer things in life. Now is the time to get
aggressive, to make some sacrifices now for a better future.
And as some of us got to this point because of our appetite for
the finer things, it might be time to exercise some restraint. You
can buy nice things again later, when you pay for them with
cash and feel good about them, not when they prevent you
from taking the next steps to freedom.
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If you want to get out of debt, consider what got you there.
Everyone spends differently and for different reasons. But how
did you get here? What was it that compelled you to spend the
way you did? If you got there because of a medical expense and
live in the U.S. without health insurance, you get a pass on this
one. In most cases, the rest of us got here through a series of
purchases we could not afford. Take some time and do an in-
ventory. What do you own and how much of it was purchased
on credit? How much of it do you no longer use? How much of
it could you live without if it meant being free from debt? What
could you cut from your life and ongoing spending for a year
or two (or more) to reign in your spending?
If you want to take that exercise a step further, spend the next
month keeping track of every dollar you spend. Write it down
in a notebook, or add it to an Evernote file on your phone.
Keep every receipt. And at the end of the month tally the totals.
How much did you spend on your car and gas? How much on
clothes? How much on food? Entertainment? Break it all down.
Now get creative and brainstorm with me: what can you do
next month to cut that bill in half? If youre like me, you just
shook your head and said, Nothing. Half? Is he joking? Look,
most of us say we want to change. We just dont want to have
to change our behaviour to get there. This is going to be hard at
first. But if you cant cut your spending, you might as well quit
now. Its not forever. When you no longer have to service
hundreds or thousands of dollars of debt, you can go be as
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Know the numbers. I hate numbers. I like words. But you have
to know what youre earning, and what youre spending. My
guess? You might have a sense of the numbers, but you dont
know them. Write them down.
SPEND LESS
Now that you know the numbers, its time to get ruthless about
your spending. Every dollar you spend is a choice. How much
more money would you have at the end of the month if you cut
your coffee budget in half? I used to drink lattes and started
drinking coffee instead. Not only did I save money, but I also
lost a little weight. What would happen if you sold your car
and rode your bike to work? Im guessing youd save money
and improve your health. If a bike is not an option, could you
carpool or take the bus? If so, youd save both time and mon-
ey. The money you could put towards paying down your debt,
and the time could be spent reading a book and learning about
better use of money or learning a new language. What about
your groceries? How much would you save if you stuck to the
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wildly inappropriate for you, but there are ways to cut your
expenses dramatically and to do it right now. Action is every-
thing. Dont let the desire for immediate gratification that is
responsible for so many of our spending decisions get in the
way of your long-term dreams and the freedom youll need to
make them happen.
Can you eat a simpler diet? Cut out processed foods? Drink
water instead of diet cola? Cut back on wine / beer?
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Can you change your cell phone plan to eliminate some of the
features you dont use?
Can you liquidate anything on which you are still making pay-
ments? You might take a loss, but the gains of no longer paying
for it can be put towards your debt.
Its not saving, per se, but can you sell anything you no longer
use? Technology loses value especially fast; if you arent using it,
sell it before its worth nothing at all. Apply the money to debt.
These are just a start, and your own lifestyle will suggest areas
you might cut out. Like pulling off a Band-Aid, it wont be fun,
but itll hurt less once its done.
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NO MORE CREDIT
This ones easy. Stop using your credit cards. All of them.
Unless you can pay off the balance each month, credit cards
are a liability. If youre not in debt and can use them responsi-
bly, do so. I love my credit cards because I never, ever, carry a
balance. But I use them to insure major purchases and travel,
and I earn several free flights a year to anywhere in the world
by using them. But I repeat, I never carry a balance, and most
of the time when I make a purchase I log on to my online
banking app and pay it off straight from my bank account. I
never use my card to borrow.
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work with what weve got. And if you can cut your spending
and increase your income, youll have a little more with
which to chip away at your debt. But if you increase your
income without first changing the way you spend by taming
the appetites that lead to that spending, youll be no further
ahead. Youll just have more stuff.
If youre too far gone for that, it might be time to talk to a credit
counsellor and ask them about helping you renegotiate what you
owe. In the face of you defaulting on a loan, most of them would
rather see you pay (as an example) 50 cents on the dollar than
nothing at all. Theyre in a risky business and they know it. In
fact theyve probably already earned back what they loaned you,
if not the interest, so they arent losing, just gaining less than they
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would if you paid things down for the next 50 years. Because this
option wasnt op to me when I went bankrupt, I still had a bank
loan of about $10,000 that wasnt covered in the bankruptcy. It
was an unpleasant surprise when they called to tell me this. But
Id been saving and I asked them if I paid $5000 over the next
six months would they consider the matter closed? They didnt
even hesitate, just told me where to send the money, closed my
account, and even thanked me for my business.
SELL STUFF
I touched on this briefly already and it bears repeating. If you
have stuff youve paid for, dont need, and can liquidate for
cash, do so. The trap here is a mental one. Its hard to let go of
something for which you paid $1000, for a mere $100. But dont
be held back by what you paid. If you arent using it, and its
not making you money, its a liability, not an asset. Ask yourself
what you can make better use of right now$100 or that thing
you arent using? But its worth $1000! No, it isnt. If you arent
using it, its worth whatever you can get for it. Sell it. Again,
especially if its technology: cameras, computers, phones, iPods;
all of them are worth less and less every day. If you can get $100
for it, thats $100 less you have to earn or $100 more you can
put towards your debt. Desperate times, desperate measures.
Dont be put off by thinking no one will buy your stuff, either.
Youd be amazed what people buy on eBay. Ceramics, books,
CDs, DVDs, old cameras, guitars, clothes. Ceramic gnomes.
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One day it wont be worth the time spent to list, sell, and mail,
these items, but right now its cash, not time, that will pay off
your debt. Do what you have to.
Lastly, dont be put off by thinking its only $100, that wont
make a dent in my debt. Most of us got into our debt $100 at a
time, and thats how most of us will get out. You chip away and
chip away. It can be done. Im watching my best friend do it
right now and he doesnt put $5000 towards his debt at a time,
but constant, manageable, payments. After years of being faith-
fully committed to this routine, hes now mere months away
from being free of his debt, and those small payments will be
free to go to saving and investing.
MAKE A PLAN
I admit Im not much a fan of long-range plans. Life seems to
always get in the way. But finances are different, and like most
things, if you dont make it happen, it wont. Now is the time, so
soon after youve done the previous exercises (you did do them,
didnt you?) to make a plan. I suggest putting 10% of your in-
come, as a starting point, aside to pay off debt, above and beyond
your existing debt payments. And then put another 10% into a
savings account as an emergency fund. Why not put 20% aside
to debt, especially as the debt incurs high interest? Because you
need an emergency fund and without a buffer youll just use
the credit card when the unexpected occurs. Now is the time
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Whatever approach you use, its less about the details and all
about action that works for you. Feels like possibility, doesnt it?
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Theres no secret. Pay off the smallest debts first and itll give you
a sense of accomplishment and prove to you that this can be
done. Then move on to the next one. Then the next one. I know
this works because Ive done it. I didnt go straight from debt to
bankruptcy. I fought down some of my debts and while I didnt
clear the biggest obstacles before bankruptcy, I cleared several of
them. Most people arent foolish enough to get as deep into debt
as I was, and even that deep, I was determined to go down fight-
ing. If youre dealing with $20,000 to $30,000 of debt, you can
probably clear it in less than three years, even fewer if you rene-
gotiate and implement some of the ideas in Chapter 6. And then
itll be gone. It wont feel like it some days, but that three years
will go fast. And it beats the alternative, which is a perpetual debt
that just drags on and on. The freedom after those three years, or
however long it takes you, will blow your mind.
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Q&A WITH
PHOTOGRAPHER
DAVID KINGHAM
You are now making a In total, I had over $300,000 of debt, but
full-time living as a $200,000 of this was a mortgage on my
photographer, but in home, which I was extremely fortunate to
order to do that you sell days before the recession started. On top
got rid of all your debt.
of this, I had auto loans totaling $60,000, a
loan on a camper for $10,000, $20,000 in
How much debt did
you have? credit card debt, and finally a second mort-
gage on my home for $10,000. I was living
the American Dream with full force.
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What led to this debt and Like most people, as my income rose, my
how did you change those spending followed proportionately. We
behaviours or habits? tend to think we will get ahead with the
next promotion, the next raise. We chase
it, thinking things will be different when
we have all that extra money lying around,
and once that happens we will be free to
travel, to do the things we love. What hap-
pens in reality is bleak: we get that raise
and our consumer-driven minds want the
next great thing; a shiny new car, a bigger
house; more toys. We think owning these
things will bring us joy, but instead they
own us. We continue living paycheque to
paycheque, while our feelings of fulfill-
ment from those things goes down.
How did you repay the debt I avoid using credit at all costs. If I don't
and what kind of resources have the cash to buy something, I will
did you make use of? simply wait. I admit, I'm not perfect. I still
struggle with beast of desire. I still want
the newest iPhone, a new camera, lens,
etc. The difference is, I can see the tempta-
tion now. In the past, I was blindly buying
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How has your life changed I felt truly hopeless. When there is nothing
as a direct result of being left each month after paying all the bills,
out of debt? it appears impossible. Without a dramatic
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CHAPTER 5
SAVING MONEY
I
learned young that I should save my money. I was much
older when I finally did it, but I remember the lesson. I
was sitting with my mother in the dining room talking to
a family friend. Bruce was a financial advisor and, I imagine,
was there to talk to my mother about her own finances, but
took a minute to explain compound interest, a concept that
blew my mind so thoroughly that I did nothing about it for
another 30 years. What can I say? Im a slow learner. But Im
doing what I can now to make up for lost time. If Id put aside
the money that was suggested at the time, Id have a million in
the bank right now.
All the financial wisdom on this is the same. Save 10% of your
income. Put it somewhere out of reach, and in a place that it
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SPEND LESS
If you skipped the chapter on debt and came straight here, go
back. Read through my suggestions about spending less money.
Learn how to make a budget if that kind of constraint is help-
ful to you. I like the bucket system. I dont use a strict budget
so much as one account, separate from my savings accounts,
that I put my money for monthly expenses. When that money
is gone, its gone, until I pay myself next, so I watch it carefully.
Whether you use a formal budget or not isnt the point. Its that
you are aware of what you can spend and you stick within it. If
four coffee cans on the counter, one for rent and utilities, one
for food, one for car, and one for miscellaneous, works for you,
then do that. I know Ive said it before, none of this is magic.
The wisdom is simple: its finding a way that works with your
nature, to work with yourself and not against yourself, to know
your limits and stick to them. Spend less. If youre looking for
ideas on how to do this, try searching the Internet for ways to
save money everyday or how to spend less money and see
what you come up with. Id guess you come up with hundreds
of ideas, from cutting your power consumption to cooking with
beans and lentils. Use the ones that make sense. This brings me
to another piece of wisdom. Start talking about money.
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stick within it.
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Unless you want to get into games of cat and mouse, or offshore
accounts, you have to pay your taxes. That doesnt, however,
mean you cant pay fewer of them.
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Read the Q+A with Amy Kerr at the end of this chapter.
Get an accountant.
Discuss incorporation if it applies.
Maximize your write-offs.
Maximize your tax savings through vehicles like tax-free
savings accounts and registered retirement plans.
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Now lets talk about ways you can actively make a living with
your creativity. I truly believe theres never been a better time
to become your own patron and make a life and a living from
your art. Im not alone. Pundits like Seth Godin and Gary
Vaynerchuk have said the same thing over and over again.
We live in an extraordinary age and there is huge possibility,
possibility that has never before existed on this kind of scale,
with this kind of access. Technology has given us the ability to
own unbelievable tools of creation in a laptop we can throw
into our bag and take anywhere in the world, while connecting
to everywhere in the world anywhere theres a wifi signal. I have
done my work on beaches in Zanzibar, a boat in Antarctic
waters, and drinking wine in Italy. So can you (or your own
version of that). What you choose will, I hope, be consistent
with who you are, what you want, and what you love to do,
but it is a choice. Its not hype; its not magic. Its possible and
scalable and the stage has never been set so well for creatives to
make a deeply gratifying living, in whole or in part, with what
they do.
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CHOOSING A FINANCIAL
ADVISOR WITH DEAN MARTIN,
CHARTERED LIFE UNDERWRITER
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PROFESSIONAL FEES
You will discover that the rates charged by various financial
advisors may vary greatly and depend on the service provid-
ed. For example, some advisors will charge a flat rate of up to
$2500 or more for a full financial review. From my perspective,
I do not believe that a financial advisor should ever request a
consultation fee to develop an investment and/or insurance
strategy for a new or existing client. In fact, a client should
never incur any costs or fees when utilizing the services of a
financial advisor. The financial advisor will receive compen-
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ALIGNMENT
It is essential that the clients personal expectations align
with the skill set and philosophies of their financial advisor
in order to solidify a long-term relationship. The client needs
to be confident that the financial advisor that they choose will
always place their requirements and expectations first above all
else. For example, knowing that the financial advisor will only
suggest insurance or investment strategies that are appropriate
for the clients specific needs and risk tolerance is essential to
solidify confidence and trust. Investments strategies should
always pay the investor first rather than last, which is so prev-
alent today in the publicly-traded money markets and mutual
fund trusts. Insurance coverage options should be reviewed
and compared for coverage language and price, and should
make good and clear sense to the client. Ultimately, the client
must be able to respect, trust and appreciate their financial
advisor, and clearly recognize that the advice they are given
is always in their best interest.
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SUMMARY
The basic role of a financial advisor is to develop strategies for
their clients that will result in the accumulation, protection and
transference of wealth during the clients lifetime or at death.
This process is accomplished by implementing a well-structured
financial plan which is regularly reviewed and amended to reflect
changes in the clients personal situation such as marriage, chil-
dren, business initiatives, investment strategies and retirement.
A sound financial strategy will involve other professionals such
as the clients accountant and legal representative. The financial
advisor/planner is ultimately accountable for the creation, imple-
mentation and success of the clients financial plan, and as such
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I hope that this information has equipped you with the confi-
dence to select a financial advisor that aligns with your goals and
values. Start planning your financial future today!
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Q&A WITH
AMY KERR CPA,
THE ACCOUNTANT
FOR CREATIVES
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Are there best practices that Its easy, even for me, to want to put off the
you see creatives commonly bookkeeping and focus on income-generating
neglecting or ignoring con- activities. The problem is that this makes tax
cerning tax time? time incredibly stressful because not only will
you likely have a large payment due, you also
have to set aside a huge chunk of time to
organize a years worth of income and
expenses. By setting aside an hour each week,
or a couple hours a month, to get your book-
keeping squared away, you can see how your
business is performing throughout the year
and you wont have an overwhelming amount
of work to do at the end of the year.
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Are there other ways Take time to learn about the business side of
creatives could be more your business. Its the less glamorous side of
proactive in their finances? being a business owner, but the better armed
you are with information, the better youll
be at making decisions for your business. For
example, thinking about hiring someone?
Knowing the difference between an employee
and a contractor can have a huge impact on
how you report their earnings and whether or
not you are required to withhold employment
taxes. While it can be necessary to hand work
off to others (bookkeeping to a bookkeep-
er, etc.) you still want to be knowledgeable
enough to question the person if something
looks odd.
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Are there online tools, apps, There are so many great resources out there
or resources to which you for creative entrepreneurs. A few of my
point clients to help them favorites are:
better track and manage TripLog, a mileage tracking app available for
their finances?
Android and iPhone that will automatically
start tracking your trip when you are mov-
ing 5 mph or faster. Thanks to this feature,
forgetting to track a trip to meet a client, or
a trip to Staples to pick up supplies doesnt
happen anymore.
Freshbooks, a cloud accounting program, is
a very simple program that pulls in your bank
transactions. Their app allows you to take
pictures of receipts so you never forget or
lose one and you can categorize it instantly
or while youre waiting at the dentist office.
Xero is another option for cloud accounting
and their app, similar to the Freshbooks app,
allows you to manage your business finances
outside of the office.
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CHAPTER 6
MAKING MONEY
Disclaimer: I hate disclaimers, but feel the need to say that none
of the following should be misconstrued as advice. Ill tell you
openly what has worked for me and, I hope, give you some ideas
for further research. I have a pretty high tolerance for risk; you
may not. I get that. So when I talk about things like possible
places to put your money for this or that tax benefit, or I tell
you that I prefer to invest in private equity instead of the stock
market, please remember there are a lot of options out there,
some riskier than others. Your investments have to make sense
to you, and should come from a source you trust.
O
ne of my favourite moments in the last five years
came about three years ago while I was teaching a
group of photographers in Italy. We had just boarded
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All I can tell you is how I did it, and underline the principles
that I value as a creative who wants to make a living doing
what he loves. I have no slick techniques, and no promises. But
I have learned so much in the last five yearsand the harder
years leading up to themand Ill do my best to share them
with you without either bullshit or false modesty. Im proud
of what weve done. Im still a little blown away by the success,
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but Im proud of it. Weve built a great business that serves its
audience with integrity and respect. Were profitable and grow-
ing. And best of all, its exactly what Id be doing if I had a more
money than I knew what to do with. Money has no intrinsic
value to me. I value it for what it allows me to do. It allows me
time to create, to travel, to spend time with loved ones and
share the adventures of this too-short life. It allows me to be
generous and give to the causes Im passionate about. It allows
me time and money to now take, and even create, pro-bono
photographic assignment work for organizations I believe in
and want to work with. Money allows me to do that. For you
it might be opportunities for your family to travel together.
It might be the freedom to volunteer at a hospice or give to
cancer research. It might be the freedom and ability to send
a needy child to school, or go back to school yourself. Or you
might just want to buy a Porsche. And like me, it might be the
simple opportunity just to create your art and share it with the
world. Its these things I value, not money. But money gets me
there in ways nothing else does.
Heres what Ive learned and how Ive applied it. It is not the
only way, just my way, but its a good way, and it works . . . for
me, as well as countless others. Itor some version of itcan
also work for you.
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CREATE VALUE
Value makes money. Not hard work. There are a lot of very
hard-working men and women out there who do not make
much money: thats a different conversation. But you need to
understand this paradigm because it flies in the face of the pre-
vailing and so-called Protestant Work Ethic, and because while
hard work is important at times, its not the onlyor even the
bestpath to making money. Creating value is the right path
to making money. Unless youre on that path, hard work just
determines how tired you are at the end of the day, not how
large your paycheque is.
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they will pay. Now would be a good time to start writing a list
of the ways in which you bring potential value to your world.
That, and that alone, though it takes innumerable forms, is
your leverage.
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with loyalty.
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them, ways you provide them value that you hadnt considered?
Can you do that more intentionally? Begin making a list (I keep
an Evernote file that stays synced on all my devices) of possible
stories, articles, links, and resources I can share. Your job is to
create new content and curate existing stuff thats already out
there. Thats part of the value you offeryou create what others
dont and curate in a way that others cant. Dont underestimate
the value of curation. Time is precious and if you can intro-
duce me to inspiration and/or information that Id otherwise
have to sift through myself, then youve given me something
of value and Ill return the favour, exchanging that for my time
and loyalty. In time that will translate into an exchange of what
you offerin some formfor my money. Because if theres one
thing thats more valuable to me than my money, its my time.
And I am not the only one. Remember you only need a
thousand. There are billions out there. Curation is not only
about time, its about the point of view that you bring, and the
ability to cool-hunt. If your audience likes you for certain rea-
sons they are likely to likeand find value inthe things you
like and the opinions that you bring to bear on those things.
Doing a book review serves your audience, anddepending
on what you have to say about the book, I supposeserve the
author as well. Serve that author in a visible way, with con-
sistency, and youve created a possibility for relationship and
connection. All of this hinges on connection.
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was to start my blog.
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I can honestly say that the best business decision I ever made
was to start my blog. It has become a place of connection like I
never imagined, and is responsible both directly and indirect-
ly for the best business opportunities and relationships I now
enjoy. My best clients came not from my clever email or direct
mail campaigns, but through my blog. My best connections,
including the ones that led to my first book deal, came from
my blog. My blog, and the people that gather there, gave me
the ideas for most of my books because I listen to them when
they comment and ask questions. If people keep asking the
same question I take note, and if its something I feel I can an-
swer uniquely and with credibility, then I start thinking about
scratching that itch in a way that more people can benefit, and
in a way that I can answer more thoroughly than I ever could
in a reply to blog comment or email. Its not the blog thats the
point; its the platform and the audience to whom you speak.
For me thats blogging, and while I do engage in other ways,
my blog will always get my attention and be the place I give
back to the community that has supported me and allowed me
to create my art all over the world, and for clients that couldnt
otherwise afford me, through their patronage.
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discovered anymore.
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The best voice out there right now about this topic is Gary
Vaynerchuk. I cant more highly recommend you read his book
CRUSH IT! and JAB, JAB, JAB, RIGHT HOOK. Hes razor sharp
on this stuff but hes also got heart. Tons of heart. Seriously,
stop reading this and at least follow the links and take a look.
If you can only get one, get CRUSH IT! Trust me. I re-read it
every year or two.
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In a sea of people
trying to get
something, its
the rare one who
tries to give, and
rare people like that
stand out.
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CREATE MULTIPLE
INCOME STREAMS
Once you have started to develop an audiencethe community
that finds value in what you offeryou have a proven platform
from which to offer more. I say proven because theyve already
been exchanging with you. You give them your creation and
curation and they exchange that for their time. If it was of no
value they wouldnt give you even that. Now you have an op-
portunity to serve them even further, and this is where people
get uncomfortable. Most of us dont like talking about money
and we feel slimy talking about charging for what we do. But
those of us buying from you dont feel the same way as long
as the value to us is high. Youre doing me a favour by making
more of what I love available to me. I know you cant do it all
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for free. Most of us know that. And if what youve been giving
away so far has been so good I want more of it, then Im
willingeager, evento pay you for the greater access. When
my favourite singer releases a new album I cant wait to give
him my $10 on iTunes and listen to it. More so if hes been
interacting with his fans online and releasing snippets or pre-
views on YouTube. I cant talk you out of this feeling, but I beg
you to somehow find a way to see it from my perspective as
your fan. You can only give so much without making a living,
and if I want what you offer, Ill pay, happily. Please dont deny
me that. Dont soak me for my loyalty either. If I wait and wait
and then you charge me $100 for that new album, thats stops
being valuable to me and probably a big chunk of your audi-
ence. Besides, it costs the same to sell your album to a million
people online as it does to sell to ten. Better to sell a $10 album
to 10,000 people ($100,000) than only 100 copies on a $100
album ($10,000), isnt it?
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A lot of these
conversations talk about
passive income; I want
to avoid that term because
I think it misrepresents the
reality. I work really hard.
I love it, and it feels
like play much of the time,
but its hard work.
Theres nothing passive
about any of it.
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both the work I give away and the work I sell. It takes time
to stay ahead of my craft and be the artist I want to become.
Theres nothing passive within sight of it. More important are the
concepts of automation and scalability, which well discuss soon.
SPONSORSHIPS
My sponsorships are an exchange of product or money for dis-
closed, honest endorsements. I dont really do ads on my site, but
the principle is the same. If you have the trust of your audience,
and you have a certain amount of eyeballs viewing your site or
getting your newsletter, there is space and ample opportunity to
leverage that with the right kind of marketing partnerships. Just
dont do anything that would jeopardize or dilute that trust.
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CLIENT WORK
Mostly this represents assignment work as a photographer. Like
workshops and speaking events, I need to be there to earn. This
is where much of the fun is for me, but as a source of income it
can be the most unreliable and the easiest to lose.
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WRITING/LICENSING ARTICLES
I write for, and license articles to, print magazines and online
journals.
STOCK PHOTOGRAPHY
I have my work placed with major stock agencies, including
OFFSET. While stock sales arent what they once were for
photographers, there are new models that allow you to sell
your work without selling them within the micro-stock model.
Stock photography earnings are significant enough to be able
to pay for my gear replacement and upgrades every year.
AFFILIATE EARNINGS
Placing links to reputable online companies like Amazon.com
or B&H Photo Video allows me to earn while referring people
to products and resources I believe in, and in the case of B&H,
the affiliate commissions I earn go to charity and it doesnt cost
anyone any more than going to the site without the referral of
an affiliate.
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INVESTMENT DIVIDENDS
As I earn more, parts of my savings go into interest and
dividend-yielding investments that earn on their own. For
now, that money goes back into the investments.
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Do whatever you
can to nurture
and protect that
audience while also
growing a healthy,
fat-free mailing list.
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Free is a powerful
concept when used
well and when you
remember that free is
not an excuse for
crappy quality. Free and
cheap are not
remotely the same.
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from whom they can learn and study. In those posts I link to
two or three books or resources on Amazon, using my affiliate
code. The Study the Masters series is free to my readers and I
put solid time into them, but if they want to buy a book, they
can do so through Amazon, and I get a percentage without
it costing anyone a penny more. Win-win. I use affiliate pro-
grams with a very light touch, but those few coded links can
generate a healthy stream of revenue that, when added to the
others, becomes much more than a stream. Another advantage
of affiliate programs is that they work through cookies, small
bits of detectable code that allows Amazon to identify repeat
visitors and how they got there. So if I do a blog post about
Ansel Adams and a reader clicks through to an Adams book on
Amazon, but at the same time buys a new Nikon and four other
books, I get a commission on the whole sale. Cookies also have
a shelf lifeand using Craft & Vision as the example herethis
means that even if that reader clicks though from an affiliates
blog or newsletter and doesnt purchase a thing, but returns the
next week and buys five eBooks, the cookie identifies them and
credits that affiliate. The shelf life varies. For Craft & Vision its
a couple months.
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ever hire bona fide employees. Contractors work well for us,
and our relationships with them allows them to build their
own business while helping me build mine. I value working for
myself and creating something great, and I value the chance to
allow others to do the same. This team allowed me to automate
my business in the sense that it runs no matter where I am in
the world, or what I am doing. I still work hard at it, but I have
someone to coordinate with authors and liaise with me. I have
someone to deal with tech issues when they arise, and to do so
with a greater level of expertise than I. And I have scalability,
because I could only write, edit, design, and launch one book at
a time, and only then when I was physically around. Now I could
have several books in the pipeline at a time and if I needed two
designers, I could get another for a project here or there. Auto-
mation and scalability are the two tools that allow this business
to grow bigger than me, and be better than my own limits would
otherwise allow.
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SCALING
Returning to the chicken farmer and the axe maker, the
analogy falls apart when we begin talking about scalability.
Unless something changes, the axe maker can only make so
many axes, the chicken farmer can only raise, sell, and
deliver so many chickens. But we arent really chicken farmers
and scalability means an ability to sell to many more people
without a corresponding increase in effort or cost. If you sell
a book through Amazon, you can sell a hundred books
almost as easily as one book. If its a Kindle book, its exactly as
easy. For example, if you sold a handmade keychain on Etsy, it
would be less scalable, but not necessarily impossible to do so.
It might be possible to find someone in China or India to make
the keychains for much less per unit and maybe even do order
fulfillment for you, combining scalability and automation. If
you sell any kind of digital deliverable, youre in luck because
digital productsjust a series of ones and zeroes, reallyare
bytes, not atoms, and theyre infinitely scalable. Scalability is
a spectrum from not at all scalable (e.g., a large hand-carved
marble sculpture), to unlimited scale, like my eBooks. The
less scalable the product, the more youll have to charge for it.
Thats not necessarily a negative thing, its just the reality youll
have to work with. Beautiful, one-of-a-kind items sell at high
prices, and are in demand as luxury items, not despite the fact
that they arent scalable, but precisely because they arent. You
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sell online for $20 to people with smaller budgets and those
who live 1000 miles away in Melbourne. You could also create a
great audio recording and sell it as a live album. Just a thought.
However you do it, keep value central in your thinking.
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and have to compete with all the other $50 watches. When
scarcity goes up, so does the price, as long as there is demand.
What creates demand? Value. It all comes back to value. Bring
unbelievable, undeniable, cant-get-it-anywhere-else value to
your audience, and they will pay for it. And theyll do it with
gratitude because they want your prints, your pottery, your
album, the work of your hands, whatever, more than they want
their $20, $100, or $1000. They can get more of that doing what
they do. They cant get what you have without you and your
willingness to exchange value for value.
Still cant bring yourself to charge more, but know you have
to and have value to offer? Ask someone to help you. Ask
someone to keep you accountable. Hire someone on a per
email basis, to answer your emails (get a specific one like
inquiries@yourname.com that you can direct to them) and
do all your quoting for you. Call them your management if
you have to. Give yourself an authority to which you yourself
are accountable, and to whom you can appeal. It might be your
spouse or partner or best friend. Give them that task, and
remove yourself from that aspect of the business. Talk about
anything else with your audience, but when it comes to finances,
just let them know you cant wait to serve them, and that youre
going to introduce them to your manager who will talk finances
with them. Its deeply freeing. Im guessing you have people in
your life right now who cheerlead for you, whove already told
you that you charge too little. Im also guessing theyd help you in
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this regard just for the joy of watching you succeed, at least until
youre making enough that you can thank them appropriately.
Ask someone. You get no credit for going it alone.
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AUTOMATION
The conversation about automation is less about how you make
your art and more about how you run your business, so that
you can be free to make your art. To be sure, it could be applied
to reproducing art, but for most of us thats not what we long
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to do. Still, either way the principle applies. If you can find a
way to do certain tasks once (or find someone else to do them
for you), for less money or in less time than you can do them
yourself, then youll be richer in time and money, and still get
the job done. An example of this is Shopify, the e-commerce
system we use at Craft & Vision. We could have people send us
an email, telling us what they want, triggering an email from
us with a PayPal invoice, which they would then pay, trigger-
ing a receipt, and we would then manually send them an email
with a note of thanks and an attached PDF. I cant even imag-
ine. Someone just shoot me now. Instead weve implemented
software that does it all. I can be photographing lions in Africa
while people are being served at home, mostly by the software
solution we use. And what cant be done by software, like our
customer support (which is actually largely served by ZenDesk,
a software solution), can be done by someone weve contracted
for the purpose.
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It is amazing how
profoundly creative
people, people who
want to make a living
from that creativity,
dont apply that
creativity to their
income generation.
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GETTING CREATIVE
It is amazing how profoundly creative people, people who want
to make a living from that creativity, dont apply that creativity
to their income generation. We all have to eat, pay bills, and
buy the paint or paper we need to do our art; you might as well
do so creatively.
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all on its own, and most creatives know and accept that. We know
that the book is going to take some blood and tears and sever-
al drafts before it gets written. Itll probably also take hustle and
countless rejections before it gets published. Books dont discover
themselves. Neither will your pottery, illustrations, photographs,
paintings, yoga classes or gelato stand. It takes hustle. It takes a
willingness to be creative about connecting that high-value thing
you create with the people that will become your audience and
your fans. Brainstorm a couple dozen ideas, throw them against
the wall and see what sticks. Then go do it. Fail fast, pick yourself
up, learn from the rejection, and try again. Craft & Vision wasnt
the first thing I tried to do as a creative, and it wont be the last. I
sold myself as a juggling comedian for 12 years before returning
to photography. If I can find a way to make a full-time living as a
juggler, then by God, you can find a way to grow an audience for
what you do and connect your art with that audience.
Get creative. Hustle. Fail often and fast, and then come back for
more. Find ways to scale what you do and get it to as many as
possible within your audience, or barring that, find a way to sell
a few at the highest prices possible. Both work, though one is a
little more likely than the other. Find a great team to better do
the things you dont do as well and automate what you can. And
most of all, listen to your audience. Find out where they itch then
scratch like hell.
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The truth of the matter is that ones bottom line is not determined
by spectacular, year-end maneuvers (though I suppose tax evasion
could be a short term, and short-sighted, solution but highly not
recommended), its in the trenches, in the day-to-day handling of
your business and your moneyno matter the scale of your
operationthat will produce the results youre looking for.
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Categorically, Im
absolutely fine with the
idea that ones finances
take a back seat from time
to time when an inspired
soul is in hot pursuit of a
great business idea.
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Here are the five tactics and tools I recommend you consider
using to whip your finances into shape:
1. BE IN THE KNOW
Doing creative work in the margins of your life means you have
limited time and resources; the last thing your muse needs is
for you to be distracted by your account balances. If you feel
like you dont have a lot of money it can be easy to relinquish
control, but you have to fight that urge.
When you take a prospective client out for coffee and you hand
the cashier your bank card, you shouldnt have to worry about
whether its going to get declined or not (or be surprised if it
is): thats just embarrassing and unprofessional. Familiarizing
yourself with your finances, whether you feel like you have
much money or not, is an important step towards financial
stability and future prosperity.
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While this may sound like a small thing, I assure you, it is not.
For those who consciously make the decision to require pay-
ment only by cheque or cash, they are doing so because either:
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I firmly believe one of the best things you can do for your busi-
ness is to create simple, fast ways for people to give you mon-
ey. Connecting your online payment processer to a dedicated
bank account (separate accounts helps protect you from fraud)
means that in as quickly as two business days you can have
the money where you need it: in your back pocket. And when
it comes to your clients, they love the convenience of having
alternate payment methods.
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discuss the price and the payment terms. A contract will often
clarify this, but in some cases theres room for interpretation,
especially when a work effort doesnt involve a proposal process.
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If you want to stop chasing clients and get paid sooner, send
a professional invoice digitally, on time, and to the right per-
son, so you can make that trip to the bank before your rent
cheque bounces. If youre creating invoices from scratch in a
text editor, retyping client addresses, or calculating totals or tax
on your own, youre ready for a change and your clients will
welcome it. Erroneous invoices create unnecessary stress on a
business relationship, and a structured, simple system like this
really helps. Some of my favourite features:
You can remind your clients that theyre late with pay-
ment by automating late payment reminder emails.
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When you deliver email campaigns that elicit curiosity, you will
generate demand for your creative work: its all about connect-
ing. Whether youre sharing a project launch, promotion, a
behind-the-scenes story or some exciting news, youre invest-
ing in your target audience. Your audience is made up of your
clients/customers, but they are also referrers and fansthey are
your marketing potential.
Believe me, the size of your list doesnt matter; the quality of
the email you send does. A lot of creatives whore themselves
out to every digital space imaginable and they end up just
creating noise and bashing their audience over the head with
duplicate messages. Reserve the best of the best for your email
campaign and your subscribers will be excited to read your
message. Create high-impact, low-information, visually stun-
ning, branded email campaigns and youll do more than stand
out in a crowd; youll draw a crowd. If you want to inject some
narrative, go for itjust be sure to write it very well, and make
it a special reading experience that they care about. In this
regard, I practice what I preach: my personal website features
an email sign-up with the headline I dont blog, I deliver. My
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in your life.
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when you get rid of the paper in your life. If youve come to tax
time with a massive box of random receipts and gum wrappers,
or you've wasted time looking for lost mission-critical attach-
ments, then its time clean up your act. Removing the mess will
free you up to be yourself: creative and unfettered.
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If you make one change this week with your freelance business,
consider acting on one of these tactics or tools so start making
your creative life more productive and more profitable. Be as
messy as you need to be in your creative endeavors, but when
you deal with your business and money, the more you con-
trol the process, the less waste you create (especially in terms
of time, which will cost you money), and the more profitable,
relaxed, and productive youll be.
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Q&A WITH
COMEDY PERFORMER,
DAVID AIKEN, THE
CHECKERBOARD GUY
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Have you always saved The whole saving thing happened for me
money? Did you save a around my 21st birthday. Prior to this I was
percentage of income? quite content to spend money as quickly as
I earned it and far far far too much money
went into my obsession with cool looking
cars: I've had Austin Minis, several Checker
Cabs, and a few cool Japanese imports, to
name a few. Im actually still paying for this,
as Ive got a 1960 Austin Healey Bug Eye
Sprite thats still at a restoration shop in
Salem, Oregon. However, Im weaning
myself off cars; I sold my Nissan Figaro last
year and will sell the Sprite after I drive it
for a summer or two. Im just not as into
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I get the impression from After reading The Wealthy Barber, one of
previous conversations that the things I did was to set up a monthly
while youve always worked deposit into a mutual fund that was being
hard, youve invested well. invested via The Investors Group. Its a pret-
Can you describe your
ty standard financial institution that offers
investment strategy?
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Did real estate play a role Definitely! Weve made money on our
in building your wealth? house, on a second house we bought in
North Vancouver and subsequently sold,
and are currently invested in two other
houses in Edmonton. With real estate,
timing is everything.
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You run your empire as a The thing I tell people who ask me for
tight business: whats the advice about performing is this: it should
best business advice you be fun. If youre not having fun, youre
ever got? doing something wrong. It can still be an
enormous amount of work, but it has to be
fun or all of the effort is being misplaced.
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T
he time has never been better for creative people to
share their work and their value with the world. The
opportunities provided by the online world and the
access that brings to wider audiences is astonishing. From
blogs to social media, iTunes to Kickstarter, there has never
been a better time in history for artists to touch the world, and
to do it almost instantaneously. That there are such amazing
opportunities, however, does not mean that everyone will
manage to put food on their plates with their art. Theres so
much more to all this than simply being great at what you do,
though Steve Martins advice to be so great no one can ignore
you will always hold water. It just isnt the whole story. Feeding
the so-called starving artist takes hustle and a willingness to
wear an entrepreneurial hat, to approach the making of money
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There are other resources that I think you might find helpful,
aside from the ones Ive already recommended, though Im
listing those here too so its all in one place for you. Here is a
list of the books Ive found to be written with integrity, heart,
and wisdom. Its a short list because I dont want to overwhelm
you, nor do I want to recommend to you books that Ive not
read myself and found something of value in. Theres good
stuff in here, but dont swallow it whole. Adapt it; dont adopt
it. Like everything in this book, the books listed here will apply
differently to different people in different contexts. The adven-
ture and the creativity lies in finding our own road. Building a
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Id love to hear from you. If this book has helped in some way,
Id be grateful if youd leave a review on the Beautiful Anarchy
blog abeautifulanarchy.com or on Amazon. And if youd like
to take a moment to connect, tell me your story, or otherwise
engage, feel free to drop me a line at:
starvingartist@abeautifulanarchy.com
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I Will Teach You to be Rich, Ramit Sethi - This one should have
been called, How Not to Be A Financial Moron. Its excellent,
despite the somewhat sensationalistic title, which is, it turns
out, pretty accurate. My generation needs a book about solid
financial advice, and this one has it in spades, along with plenty
of attitude. Get past the attitude and read this one.
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The Icarus Deception, Seth Godin - Love this book. If you want
to make a living as a creative person but question your ability
or need to do so, read this one. Godin is spot on. If you want to
make it a one-two punch, read Linchpin as well.
Thank you for being part of this. I hope this book is only the
beginning of your journey towards the kind of freedom that
comes from getting your finances under control. Its amazing,
isnt it, how we seem so reluctant in this culture, to discuss
something so powerful and liberating? I hope, if nothing else,
this short book will help you see the possibilitiesthat this
can, in fact, be done. I hope it clears away some of the fear and
shame and gives you whatever beam of light was missing from
your search. Im not being falsely modest when I tell you if I
can do this, you can too. It was not my financial knowledge
that got me here, but my creativity and a willingness to learn
what I clearly didnt know. I had to hit rock bottom first; Im
hoping you can look up and see the light well before you hit the
bottom. Either way, it can be done. You can make a living with
your creativity. Its not the full story, but you can make a living
doing what you love. Passiondespite being the most overused
word of the last few yearsremains in desperate short supply.
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Passiondespite
being the most overused
word of the last few
yearsremains in
desperate short supply.
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It is that passion that will fuel the long days and nights of
plying your craft that itll take to make a go of it financially,
but dont mistake the hard work for complexity. Its really pretty
simple. Spend less than you make. Save and invest the rest. Get
out of debt. And if you want to make a living from your creativ-
ity (and put food on the table of the otherwise starving artist),
it takes little more than it ever hasbuilding an audience and
giving them something of value, over and over again.
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