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Cash is King

professional photobook cash pig

Photographers often get deposits months (and years) in advance, which is a blessing and a curse.   While it’s always great to have extra cash in your account, if part of the deposit is not put in escrow for future deliverable s like professional photobook , the danger lies in spending money that isn’t yours. This is especially true for Mitzvah’s which can give deposits up to 3 years in advance.

I’ve seen many photographers run into trouble with cash flow, as ultimately they’re on the hook to deliver professional photobook they can’t afford.   As a fellow business owner I understand how difficult it is to run your business when cash is tight, so make sure that while cash is plentiful, that you’re putting it aside for the “slow season”, while resisting the temptation to spend money that isn’t yours….yet.  It’s a good idea to get some advice from your Accountant as to how to account for these deposits so that you’re being fiscally responsible and compliant.

Mark Zucker

Mark Zucker

Zucker founded Zookbinders in 1995 and is passionate about helping photographers attract more clients, make more money, and spend less time in post-production. He was raised in the pro photography business (his father founded Capri Album) and remembers attending trade shows as a kid (he was more of a nuisance than a contributor).

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