@BenClaremont
Get 50+ more high-value business lessons for photographers & videographers from Alex & I HERE 👉 https://bit.ly/pvbbyt
@TheDannyHamilton
The concepts are all great, but there does seem to be a small problem with the specifics of the maths. Specifically at 12:47 and 14:43. If my gross revenue is $75,000, 25% of $75,000 is $18,750 (not $15,000) leaving me with only $56,250 in net revenue (not the $60,000 that I wanted). If my gross revenue is $37,500, 25% of that is $9,375 (not $7,500) , leaving me with only $28,125 (not the $30,000 bare minimum I need to get by). I think the correct formula is to take the after-tax amount and DIVIDE by 1 MINUS the tax rate (instead of MULTIPLYING by 1 PLUS the tax rate). So, $60,000 / (1 - 0.25) = $80,000 (not $75,000). and after you pay 25% on $80,000 (which is $20,000) you're left with the $60,000 you intended.
@OlleyThorpe
Great topic, when I was first making videos for clients, pricing was always the hardest barrier!
@-paulmp
I've been a "pro" for a while now, but have had some issues with the business the last few years, partly due to travel restrictions and partly because of my own poor choices... I've signed up to learn some new things and see if I can plug some holes in my business :)
@Phrish
Great summary and detailed information on pricing! Thanks, Ben.
@MK-hz2bn
My rate is $250 an hour x 8 for my day rate. I live in Alabama USA in a 300k population and I make over 6 figures a year. I’ve had 4 days off this year. I love money. Lol
@CorsaGarage
This info is gold. Thank you!
@Its_steve1217
My rates are 200 for 2 hour of shooting plus 100 extra after every hour I shoot for restaurants and I even print there menus at an extra cost I do work a 9-5 job but I work shoots about once or twice a week it's a hassle finding clients so I always been afraid to make a full transition to photography and video work
@johnm7882
Wow what an amazing video. I'm excited to start my own business 🙂
@THEFOODDEE
Awesome Video lots of great info
@doougle
On the idea of day rates: I'm a career audio tech (35+years). I charge the same if I'm the lead or an assistant on a given project. I bring the same experience to every gig.
@gaips
You’re the only YouTuber I trust to review the Insta360 X3. Really looking forward to your review.
@sovannvoyager
Very good video, just curious about 360 photos business in France especially Paris, it is saturated or many room to growth? Your advice is highly appreciated
@AXISTREK
This was helpful and as soon I can afford it I will get through it. I have one serious question: If you sell a 360 tour to a client which is dependent to a platform (metareal, metaport) and these companies will not exist anymore for any reason. The Tours won’t be available for the clients someday. I see a a barrage of lawsuits coming in Germany and I can imagine in other countries too. So what is the solution for that? Keep a copy and loading up on other plattforms?
@JeffBourke
Okay so what camera should I buy?
@ChrisCameronPhoto
Charging for time is ridiculous. Charge for usage. It could take an hour to shoot a portrait for your local dentist to put on his business card or an hour to shoot a portrait of the Oprah for Harpers Bizarre.
@jimhatch5873
Alex's math is incorrect. If I have a 25% tax rate, to take 60K home after taxes, I need to make 80K not 75K. If I only gross 75K I'll take home 56K. Remember you're paying taxes on every dollar. So the equation she should be using is 60K/(1-.25) and get 80K. The taxes on 80K will be 20K, leaving her with the 60K target after taxes.
@bigboldbicycle
0:33 ... No, just hungry... Literally. As in a starving artist hungry. 😋
@robertparmafotografia5335
Alex has made an error in her tax calculations... If net income is $60,000 and tax rate is 25%, gross income (before tax deduction) should be $80,000. In situation from your footage if you deduct 25% from $75,000 only $56,250 will remain, not 60k.
@alexruhl3542