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In this episode of the “Take Your Shot” podcast, Taylor and Anna from Naked Peach Boudoir discuss their transition from corporate jobs to managing a successful photography studio in Portland. They share insights on leaving the corporate world, including financial planning, setting the right prices for services, and creating a legal foundation for the business.
The conversation covers the importance of building a client experience that focuses on inclusivity and empowerment. They also talk about the role of social media in growing their business and creating a supportive community for clients and photographers.
Listeners will gain practical advice on budgeting, pricing, automating business operations, and understanding legal requirements. This episode provides a clear guide for anyone looking to pursue a passion-driven career in a creative field.
About Anna McLaughlin and Taylor Maslyk
Taylor and Anna are one half of the masterminds behind Naked Peach Boudoir – Portland’s premier luxury boudoir photography studio. Since leaving their corporate jobs to launch the studio in 2021, they’ve grown to a six-figure business, expanded their team to 4 full-time employees, served over 500 clients, launched their own podcast, The Naked Peaches, hosted workshops and events for other photographers, thrown countless parties in their studio, and become a voice for empowerment, body positivity, and self-love on social media.
Connect with Anna and Taylor on Instagram @nakedpeachboudoir
Advice on how to go full-time as a creative
Step 1: Conduct a Reality Check
Before making any moves, it’s essential to sit down and critically assess your current situation. Evaluate your financial standing, understanding what sacrifices might be necessary in the short term for long-term gain. Calculate your monthly expenses to determine the minimum income you need to sustain yourself once you leave your corporate job. This step may involve tough decisions, such as cutting back on luxuries or negotiating financial support or understanding with partners or family members.
Step 2: Price Your Services Right
Many creative entrepreneurs undervalue their work, leading to burnout and financial instability. To avoid this, carefully calculate your pricing based on the income you need to sustain your lifestyle, the value you provide, and the market rates. Consider the number of projects or sessions you can realistically take on per month and use this to guide your pricing strategy. Remember, it’s better to have fewer, higher-paying clients than to overextend yourself for minimal returns.
Step 3: Take the Leap
There’s never a perfect time to make the transition, but waiting too long can lead to missed opportunities. Once you’ve laid the groundwork, it’s time to take the leap. Prepare for a period of adjustment and be ready to fully commit to your new path. This leap of faith is often what separates successful entrepreneurs from those who never realize their full potential.
Step 4: Legal and Financial Foundations
Ensure your business is built on a solid legal and financial foundation. This includes setting up a separate bank account for your business to keep finances clear and organized, investing in solid contracts for clients and collaborators to protect your interests, and understanding the basics of taxes and bookkeeping. Tools like pre-made contracts tailored to your industry can save time and legal expenses.
Step 5: Automate and Delegate
Leverage technology to automate repetitive tasks and free up time to focus on your craft. This can include using client management systems for bookings, communications, and scheduling, and adopting financial tools for invoicing and payments. As your business grows, consider delegating tasks that fall outside your expertise or consume too much time.
Step 6: Plan for Ebbs and Flows
Understand that most creative businesses experience seasonal fluctuations. Plan for slower periods by saving during peak times, diversifying your income streams, and continuously marketing your services. This foresight can help maintain financial stability and reduce stress during lean times.
Step 7: Personal Growth and Balance
Running a creative business can be all-consuming. Invest in personal development, set boundaries to prevent burnout, and maintain a healthy work-life balance. This may include regular breaks, setting specific work hours, and seeking support from peers or a mentor.
Conclusion
Transitioning from a corporate job to a full-time creative pursuit is both challenging and rewarding. It requires careful planning, a solid financial plan, and a commitment to personal and professional growth. By following these steps, you can build a sustainable business that not only pays the bills but fulfills your passion and purpose.
Resources
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