“The Creative Professional’s Guide to Money,” by Ilise Benun. Publisher: HOW Books (2011). 232 pages.
As Sally Bowles liked to sing at the Kit Kat Klub, “Money makes the world go ‘round.” Too true. Unfortunately, for many self-employed creatives (photographers, illustrators, designers) it’s one of the subjects that they know the least about. Ilise Benun, a veteran author, consultant and lecturer, is out to change that, one creative at a time, with her new book, “The Creative Professional’s Guide to Money.”
More so than even their personal sex lives, creatives have generally always seemed highly reticent to even discuss “the M word.” Benun suggests that this isn’t just modesty, it’s ignorance and a sure-fire path to financial disaster. What, after all, is a professional? Someone who does what they do for pay, and if you don’t know how to get paid well, you might as well revert to amateur status.
hrough her own narrative, as well as quotes and excerpts from other respected colleagues and creative industry experts, Benun simplifies the complex subject of money by breaking it down into three manageable phases: how you think about it (which deals with your attitudes on the subject), how you talk about it (yes, you can discuss money with colleagues and clients without breaking out in a cold sweat) and how you manage it (taking care of business). In addition, the book includes a multitude of useful, enlightening and even fun self-assessments, worksheets and templates, as well as a form which will get you a free mentoring session with the author!
Benun’s style is simple and direct, mixed in with a dose of tough love, and uncluttered by a plethora of business or financial industry buzz-words. In “The Business Mind-Set” chapter, for example, she says: “Creatives often say, ‘I’m not good with money,’ which more than anything is a self-fulfilling prophecy, primarily of a psychological nature. In reality, money is simple and logical. It doesn’t conflict with or corrupt your creativity. It’s math.” The entire first section, then, is devoted to helping you figure out exactly what your attitudes are toward money, how you can practice effective goal-setting, and several chapters devoted to the always-tricky subject of pricing (and, while the book is primarily directed toward an audience of designers, there is a very high percentage of content that’s just as valuable for other visual communicators, such as photographers).
Having dragged “money” out of the shadows and into the light, part 2 guides you through the process of evolving from a money milquetoast into a confident pro who’s not afraid to ask for what they want and aggressively seek it out: finding and qualifying just the “right” prospects, broaching the topic of money, talking price and negotiating, closing the sale and getting paid. Benun, of course, fully realizes that this will not be easy for you, and that you’ll make mistakes along the way: “Confidence will not develop if you don’t try and don’t err. That is especially true when it comes to talking about money and pricing.”
he “Managing Money” section closes out the book and includes straight talk on such subjects as money basics (deductibility of business expenses, for example), profitability and effectively handling both requests for proposals and contracts. It’s here you’ll find one of the key philosophies behind the entire guide: “The point of being self-employed is to be in control of more of your life, and yet so many people don’t take control of their finances, one of the few things you actually can control. The secret is working as hard to manage it as you do to earn it.”
If you’re trying to make your way as a photographer or artist, you no longer have an excuse for struggling financially. In clear, straight-forward language Ilise Benun’s “The Creative Professional’s Guide to Money” takes you step-by-step through the entire process of pitching clients, preparing proposals, dealing with the financial details of the work you win, and making sure your bottom line stays written in black rather than red ink.
reviewed by phh