Employability week

This year I took advantage of the employability week that Plymouth College of Art had arranged for us. As I have a Diploma in Business I only went to the talks that I needed. One talk I went to was about pricing our work and our time depending on what we were producing and whether it was a individual piece of work we were selling or services. To find out these prices we needed to work out the ideal hourly wage that we needed to make. From that we would work out how long each piece of work took to make. That would form the basis of the pricing of our work. I worked out that my hourly wage should be around £25 which would cover my expenses and provide me with a little bit of profit. From this figure I should be pricing individual pieces of work depending on how long I was out shooting, editing time and printing costs. Another thing to consider is how many copies I intend on making which would impact price as well.

The next talk was on cash flow planning. This is important for anyone wanting to be self-employed. In order to manage a businesses cash flow there are a few things to be concerned with. Making sure that the Taxes are done correctly it is advised to have a book keeper who will manage the financial information giving the business owner security that they are filling in the Tax forms correctly and only paying what they are due to. Having contracts with customers is important as it ensures that all parties know what is expected of them and what money is being transferred between them. Having these contracts also creates a needed paper trail which makes it easier for the book keeper as well.

Invoices can also aid the business owner when getting finance from the bank as it shows that you expect to have money coming in. Be prepared to negotiate rates/deals from the bank as they might not give you the best deal for you.There are options out there to support self-employment such as the FSB, Factory Finance and Invoice Insurance.

The next talk was things to keep in mind when starting out.
1) Tax Accounting - use a person or programme/software
2) Clear Communication of expectations from customer - have this written down to avoid problems. Have clear deadlines and subdeadlines written down as well to prevent issues with customers.
3) Manage cash flow properly - Work out how much will be needed to startup the business and keep it running short term. There are organisations available to provide support and financial assistance should I need it - SWIG, Fredericks Foundation, Access Pathway to name a few.

Fundraising was another talk that I went to as I had limited knowledge in this area, especially as a photographer. Being able to fund raise successfully is a massive life skills as it covers a wide range of sources from public crowdfunding to grants from organisations and charities. In order to fund raise successfully there are a few things to consider depending on where you are going to raise the money from. If applying for money from an organisation or charity then you need to word your proposal carefully to cover a few points:
1) What your project is about
2) Who it is aimed towards
3) How the money will be used
4) The timeline of the project

Another talk that I attended was about pitching ideas. This is important as while we are working as artists we will be promoting ourselves and our work to a wide variety of people from customers to potential financiers. To pitch an idea you need to be confident when approaching and talking to people. Be consistent in the manner of talking and remember that YOU are in charge of the talk. Be aware of how you are coming across in your body language (may be difficult for me due to my autism). There are tricks to keep you calm and grounded, having something in your hand gives you an excuse to keep your hands occupied. Have a spot which you can call a home base, a place for you to return to after stepping out to talk and gesture to something. When having a face to face small meeting, focusing on the nose or eyebrows will make it look like you are looking in their eyes without the pressure of actually doing so. Sometimes you may only have a short time to pitch an idea so assume you are in an elevator and only have 20 to 30 seconds to communicate your idea. Making the pitch short but interesting enough to draw interest almost immediately is ideal. You need to explain the uniqueness of your idea and persuade the person to provide help and/or financial support.

The last talk that I went to was about becoming self-employed. It went through twelve steps to making a creative business.
1) Ask yourself why? - Sit down and think about what Pros and Cons there are for being your own boss.
2) How can you improve? - List areas where you need to improve e.g. financial management. Be prepared to take yourself out of your comfort zone.
3) What is your idea? - Think about creative skills and list how they can become a business.
4) Research your market - Profile your ideal customer, business and individuals then contact them.
5) Your business structure - Research into different legal structures and understand what is best for you.
6) Choose a name - Consider the benefits of having a business name or your own name.
7) Creating a brand, then promoting - Develop a ten step plan to promote your brand.
8) Lock down the legals - Contact PATLIB Plymouth to discuss any potential IP issues.
9) Get your numbers right - speak to someone about creating a cashflow forecast.
10) Get used to juggling - Think about time management skills and how they can improve.
11) Be inspired by fellow creatives - Find a creative network to join and identify people and/or businesses you want to learn from.
12) No room for being shy, get out there and do it - Contact 10 people a week you want to work with, sell to and partner with.