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Classic-Fiction

Best Business Practices for Photographers [255]

By Root 4248 0

sales had dropped to 30,000 pairs of shoes worldwide, mostly to small towns and outlets across the country.

At a fashion shoot, two Hush Puppies executives…ran into a stylist from New York who had told them that the classic Hush Puppies had suddenly become hip in the clubs and bars of downtown Manhattan…[then]…in 1995, the company sold 430,000 pairs of the classic Hush Puppies, and the next year it sold four times that…how did that happen? Those first few kids…were wearing them precisely because no one else would wear them…. No one was trying to make Hush Puppies a trend. Yet, somehow, that's exactly what happened. The shoes passed a certain point in popularity, and they tipped.

Gladwell goes on later to say:

When we say that a handful of East Village kids started the Hush Puppies epidemic…what we are saying is that in a given process or system, some people matter more than others. This is not, on the face of it, a particularly radical notion. Economists often talk about the 80/20 Principle, which is the idea that in any situation roughly 80 percent of the "work" will be done by 20 percent of the participants.

Taking your success, you can turn around and help others who are climbing the ladder behind/below you and make a difference. You can be a part of that 20 percent and facilitate the tipping point. Running your business by adhering to standard business practices might seem to you a small, seemingly insignificant thing to the photo community at large, but your actions upholding reasonable standard business practices that apply across the board to every other business can make a difference. Through this, take the time to help others by both example and lesson. So, I ask of you: Take the insights you've gained from this book, and don't try to keep them a secret. Pay it forward.

Index

Numbers

401(k)s

accountants

bookkeepers

CPAs

IRS audits

overview

tax preparation services

accounting. See also IRS

bank accounts

CODB

credit cards

categorizing expenses

EINs

interest expenses

software

drawing on accounts

efficiency

Excel

fraud

learning

longitudinal accounting

Payment Breakdown forms

QuickBooks

receipts

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Best Business Practices for Photographers [255]

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