002 From $5k to $123k: my journey to 6 figures in profit

09/10/24 • 32 min

I'm pulling back the curtain on my journey from starting my brand photography business as a side hustle to becoming a full-time six-figure photographer. I'm giving you a transparent look at alll my numbers: my income, expenses, and profit over the years.

Episode Highlights:

My business progression from 2018 to 2022
A detailed breakdown of my revenue streams and expenses
Why knowing your numbers and tracking profit and loss is crucial
My insights on studio ownership and rental income
Tips for making strategic business investments and growing your creative business

Photography Pricing Calculator: https://www.emilykim.co/photo-pricing-calculator

00:00 What to expect
01:52 2018: $6k profit
05:32 2019: $12k profit
07:40 2020: $24k profit
10:29 2021: the year I quit my full-time job
15:29 2022: best year yet
17:05 full profit & loss breakdown for a 6-figure brand photography business
20:19 cost breakdown
26:25 what to do when you have a loss
27:40 2023 numbers
28:20 takeaways

Thanks for listening!
Connect on Instagram: https://www.instagram.com/emilykim.co
Join the free, private Facebook Group: https://www.facebook.com/groups/theprofitablecreatives
Website: https://profitablecreatives.com/
Photo & video services: https://emilykimphotography.com/

Episode Highlights:

My business progression from 2018 to 2022
A detailed breakdown of my revenue streams and expenses
Why knowing your numbers and tracking profit and loss is crucial
My insights on studio ownership and rental income
Tips for making strategic business investments and growing your creative business

Photography Pricing Calculator: https://www.emilykim.co/photo-pricing-calculator

Previous Episode

001 From software engineer to booked out brand photographer. My story & the purpose of this podcast

I went from being a corporate software engineer to a full-time brand photographer. In this first ever episode (!!!) of the Profitable Creatives Podcast, I'm sharing a little bit about my journey, what you can expect from this podcast, and two lessons that have really propelled me to where I am today.
This podcast is for you if you are a creative service provider: photographers, copywriters, designers, wardrobe stylists, makeup artists - you're all welcome here! 💛

00:00 Introduction to the Profitable Creatives Podcast
01:10 My entrepreneurial journey
04:17 Niching into brand photography
06:51 The turning point: hiring a business mentor
09:17 Quitting my corporate job to be a full-time photographer
12:27 What to expect in future episodes of this podcast
14:53 The two philosophies behind this podcast

Next Episode

003 What does "scaling" mean, really?

Is growing a team or starting an agency the only way to scale your creative business? In this episode, let's debunk common myths about "scaling" your freelance business.

I'm also sharing my personal journey of inadvertently building (and then stepping back from) an agency-style photography business.

Join me as I reveal:

The unexpected challenges I faced when trying to scale
Why the "obvious" path to growth isn't always the right one
Alternative strategies for increasing your income without sacrificing creativity
The power of personal branding for one-to-one service providers

Whether you're a photographer, designer, writer, or any other creative freelance entrepreneur, this episode will help you rethink your growth strategy and find a path that aligns with your goals and passions. Tune in to discover how you can build a thriving creative business without losing the joy that made you start in the first place!
0:00 Myths about growing your small business or freelance business
2:59 My experience inadvertently building an agency
11:34 What I'm doing to "scale" instead of building an agency
12:33 How to grow as a 1-1 service provider
14:03 Other ways to raise prices by delivering more value