Grow Photography Business?

Chris needs to get a few things in place now that he's opening up a small business for his photography.

QUESTION: Chris is starting a photography small business.  How should he prepare for this and continue to grow his business?

ANSWER: First of all, get the deal clarified and in writing since you’re starting out with the help of another small business owner.

Start creating income and track what your photographs bring in.  You have low costs to start this up, so you have to determine at what type of pace you can sell these pictures and produce more of the same quality.  That will help you decide when this can become a full-time career.

You should open a separate DBA checking account that you use for all business income and expenses.  You need to take one-fourth of the remaining net profit in a separate savings account used for quarterly taxes if you make more than $650 in a given quarter.

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