On today’s episode of From Nothing to Profit, Kia and Matt talk about money. Listeners wanted to know how to choose what to sell and how to price those things, what to spend money on and what not too, and more, so Matt and Kia answer those questions in this podcast. Kia is always looking for new ways to hang client’s images on their walls, like super ornate frames or acrylics. Matt is always testing different versions of products to see which sells best. Make sure to take notes about how Matt and Kia markup their products to make sure their costs are covered and make a profit. Matt and Kia both keep a list of things they want to be able to purchase and things they wants to invest in, with that profit. Education is always high on that list, as well as large wall displays for their studios. You’ll also want to listen in to what Kia and Matt buy that they shouldn’t. Kia uses StudioCloud and Quickbooks, doing her own books and payroll. Matt used to use Successware, then switched to a bookkeeper with Quickbooks. Matt cautions losing visibility into your numbers when you start outsourcing your books. Know your numbers.
Profit First (https://amzn.to/2Ri24Gj)
Good to Great (https://amzn.to/2GFAz5l)
Digit (https://digit.co/r/-ksipC9aI-?wn)
Transcription was done by Temi.com which means it’s an AI generated transcript. The transcript may contain spelling, grammar and other errors, and is not a substitute for watching the video.
Speaker 1: [00:01] Welcome to from nothing to profit, a photographer’s podcast with Matt and Kayak where each week they talk to photographers about what is working in their business now so you can swipe those ideas and grow your business faster.
Matt: [00:16] Hey everybody, welcome back to from nothing to profit. So today’s gonna be a little bit different because Kira and I have gotten some feedback and some of you listeners wanted to hear a little bit more from us. So Kira and I came up with a theme today, what we’re calling the money talk because there’s been a lot of questions sent to us about this. So we’ll kind of go back and forth on these questions. But real quick, let me tell you guys the questions that people have asking so I’ll just run through them real quick. So what do you guys decide to sell or how do you guys decide to sell certain things? Um, how do you price items and how do you deal with markup now that you’ve made money, how do you know what to spend it on? What’s lead into questions like what are some really smart things to buy or use your money on and then what are some dumb or irresponsible things to buy? What do you buy a lot of and shouldn’t and should not buy. So that’s like what our, what our guilty pleasures that were like really bad about buying. And then how do you do your bookkeeping because in some previous episodes we talked about bookkeeping. Um, so how do you do bookkeeping it? And then there was a lot of questions around some more questions around profit first and what that’s done for our business. And then also some Dave Ramsey questions. So Kaya, I’m excited for this one. This should be definitely a good one.
Kia: [01:34] Yes. Yes. I’m so excited to be here and I think this is a, a, you know, a question that works in great with the, you know, the whole point of a from nothing to profit is, you know, what do you do with that profit and how do you create it? So I’m excited to
