6A2
6B2
Russell Smith is an accountant who went self-employed and works for artists and creatives. In his first year of going self-employed, he made £6k. This year he made over £500k.
He did this by stating that he was the expert at what he does. Even though he wasn't at first, it bought him, clients, as they were attracted to what he was stating. He recommends doing this, creating a self-fulfilling prophecy - saying you are the best at something. This will attract clients and then you can become an expert.
Russell asked us to ask ourselves 2 questions -
How confident in this area? 1 - 5
What I want to know about the area?
I answered with 2 for the first as I have been to previous workshops on the topic, and I really wanted to know a lot about the subject as I have no real experience. Other people answered with subjects such as:
Tax
Creating a brand student to self-employed
Keeping books
Where to start
There are 3 parts to every company: operations, sales and marketing and finance.
It is easy to go self-employed, by filling out the HMRC self-employment form. You only pay tax over 11.5k a year.
The best way to make money is to have multiple sources of income. Have a full/part-time job in the day, and work on your passion in the evening.
Money
Income
Expenses
Profit
Profit = Income - Expenses
Costs can be variable or fixed.
Variable:
Materials
Printing
Travel
Fixed:
Office/studio
Software
Equipment
Art fair
Electricity
Loan
Phone
Accountancy
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