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Good Money Tips that have NOTHING to do with Spreadsheets | How to Take Control of Your Finances as a Creative Entrepreneur

finance Jul 01, 2021

Everyone can be good at money. 

Don’t believe me? Consider this: money is 50% technical and 50% emotional. 

Most people focus on the technical side of money: the how-tos of taxes, bookkeeping, budgeting, and financial analytics. New entrepreneurs usually dive into learning these concepts, only to find that they hit a wall somewhere along the way. 

The cycle looks like this: Eagerness to learn *all the things*. Overwhelm creeps in because *all the things* turns out to be a lot of things. Then there’s avoidance- doing the money stuff doesn’t feel good when it’s overwhelming, unclear, or confusing. 

Next the panic, especially at tax time, when business owners realize there’s a looming deadline they must meet to stay compliant. And finally, defeat, a sense of failure, and the belief that you’ll “never get money.” 

If this sounds familiar, you’re not alone. Even I, a financial consultant, have experienced this...

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Interview with Arlan Hamilton: Entrepreneurship is a Winding Path

Think of the most successful entrepreneurs that come to your mind. You may immediately think of their large social media following, their beautiful website, or their high profile connections. What you don’t see are the sleepless nights, the struggle and the triumphs along the way leading up to their massive success. You know, that not-so-glamorous part of the journey. 

What if the most challenging parts of your entrepreneurial journey were the same parts that will help you grow your business? 

Arlan Hamilton proves there is power in sharing your authentic story and why being an industry outsider is your greatest asset. As the CEO of Backstage Capital, she helps underserved founders of color gain resources for their dream. She is the author of It's About Damn Time, but before then she was building her business while homeless. 

We had the opportunity to connect with the author, podcaster, and founder one-on-one last week, where she shared her...

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I Lost Rights to My Own Name: How to Safeguard Your IP

Do you know if your intellectual property is protected? 

Legal considerations aren't usually something entrepreneurs get excited about when they're first starting their business. After all, it's way more fun creating products and finding a customer base who resonates with and appreciates what you do, right?

But, failure to at least think through how you're protecting your work can lead to a lot of problems that can bring your business to a grinding halt - or, worst-case scenario, lose you the rights to your own name or your creative work.

Most entrepreneurs figure this out the hard way... 

But in this panel discussion, you can tap into the experiences of three very successful entrepreneurs who faced - and OVERCAME - early IP issues and don't want you to make the same mistakes. 

Meet the Panelists:

Kay Unger is the CEO of Kay Unger Design and Chair Emerita of Parsons School of Design. She's a fashion designer, entrepreneur and philanthropist, and top designer...

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How to be Okay with Charging What You’re Worth

finance May 13, 2021

Unpacking the emotional struggles of setting prices as a creative

When it comes to business, the #1 challenge most creatives face is the mental game of charging what you’re actually worth. 

There are, of course, two ways to think about pricing your work. One is a more left-brain, logical, numbers-and-reality-based assessment of what you should charge for your creative services.

But as creatives, we don’t always think in all numbers. 

So let’s take some time to really unpack the emotions and feelings we have associated with money and worth. And if you want to go even deeper,  we break down these restricting emotions further in this workbook which you can download for free.

From Taking to Giving

It’s understandable that charging what your worth is--excuse the pun--emotionally taxing…

Just charging for your creative output feels inherently weird… like asking people to pay you for being yourself.

Not to mention the imposter syndrome...

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Social Media Advertising Best Practices: How to Profitably Grow Your Business on Facebook & Instagram

Advertising on social media is something that a lot of creative entrepreneurs tell themselves they should be doing... After all, it's a proven way to raise awareness for your brand, drive traffic to your website, and get your products and services in front of a new audience of consumers.

... But few entrepreneurs actually take the steps to create and manage long-term ad strategies on Facebook and Instagram. 

You might think it's too expensive to run ads on Facebook and Instagram, or that it's just not in the cards for a startup that might have limited marketing budget.

But social media advertising can actually be very effective for companies at any stage with any budget - IF you approach it the right way. There's a lot of iterating that goes into finding the top performing ads for your unique business. And not only will a winning ad help your business grow, you'll also gain valuable insights on your customers and what messaging resonates with them! 

To help you...

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Parsons Entrepreneur Academy Honored in Fast Company's 2021 World Changing Ideas Awards

Parsons Entrepreneur Academy is proud to be named a World Changing Ideas Awards 2021 honoree in the category of Education by Fast Company! The Education award is selected by a panel of industry leaders tasked with identifying “initiatives that help inspire better and more equitable learning.”

Thank you to the editors and writers at Fast Company for this recognition! 

“We are honored to be identified as a World Changing Idea by Fast Company,” says Belén Aranda-Alvarado, who leads the marketing efforts at Parsons Entrepreneur Academy. “Our mission is to inspire creative entrepreneurs to build successful businesses around their art. Since launch, we have created a network of almost 2,000 creative entrepreneurs, enrolled over 350 individuals in our online courses, mentored creative professionals at very different stages in their start-up journey, and shared business training with over 4,000 webinar participants from all over the world." 

...

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5 Questions: Featuring ‘Atmos’ Sustainability Magazine Founder Jake Sargent

founder interview Apr 21, 2021

Jake Sargent is a leading voice in sustainable design companies, in part because he takes such a holistic, multi-pronged approach. 

He’s the founder of Atmos, a sustainability-minded magazine and media company that considers environmental issues through a design and culture lens. 

On top of that, he cofounded Magic Hour VC in 2017, and has since backed companies that further environmental consciousness, human wellness, and cultural resonance—like Buffy sustainable bedding, Seed probiotics, Naadam fair knitwear, and This Saves Lives snacktivism products, to name a few. 

Given his wide and deep knowledge of entrepreneurship in service of sustainability, we asked him about inspirations, essentials, and what it means to really think big in this space. Watch the full interview right here:

 

Q: Who are two people inspiring you right now?

Jake Sargent: One thing that really came to the forefront this year is the role that capitalism plays in oppression, and...

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How to Craft a Value Proposition for Your Creative Business

Your creative work is so unique. But how do you convey that value to customers and clients? That's where your value proposition comes into play!

A value proposition is a concise way to describe the unique value you, your company, and your product or service will provide your customer or client. It's a way to differentiate yourself from all the other creatives and creative businesses out there. But it goes even further than that. A strong value proposition allows you to attract the people who truly align with what you're all about. 

Now, actually writing a concise statement that accomplishes all that can definitely feel overwhelming, and that's why we brought in PwC strategy and design expert John Jones to lead an interactive workshop guiding our members through writing their very own unique value proposition tree. 

John has 20 years experience in service design, product design, strategic planning and brand development across multiple consumer touchpoints...

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Self Employed Taxes 101: What Every Creative Should Know

finance founder interview Mar 19, 2021

Taxes - the little word that instills fear in just about every self employed person. So much so that many people put off even thinking about taxes until the very last minute just to be hit with mountains of work digging through paperwork, invoices, and documents to file in time. 

Especially for self-employed folx, taxes stir up negative emotions. 

But it doesn't have to be that way! 

You can approach tax season from a place of empowerment and confidence! All it takes is a foundational knowledge of taxes - what they are, how you're charged, and most importantly, how you can lower your tax rate!

Knowledge = confidence. Seriously, sitting down to do taxes knowing you have all your ducks in a row, or scoring a bigger tax break for your creative business is the BEST feeling in the world. 

That's why we've brought small business financial consultant and instructor here at Parsons Entrepreneur Academy, Andi Smiles to teach you how to become a tax ninja with...

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How Much Should I Charge for My Services? How to Set Your Rates as an Artist

finance Mar 10, 2021

Underpricing is one of the most common reasons self-employed people struggle to meet their financial obligations and pay themselves. But, figuring out how to price your services is one of the hardest parts of building a business. 

Price your services too high, and you risk isolating your customers. Price them too low, and you’ll have a hard time covering your costs and expenses. 

So how do you set your prices so that your business is financially sound? And what do you do when imposter syndrome and negative thoughts make you second guess your pricing model?

We broke it down for you in a handy template which you can download for free right here

Read on to learn how to calculate your prices sustainably for your business and you, the owner. 

REACTIVE VS. PROACTIVE PRICING

The biggest pricing mistake people make is setting their prices reactively. There are two types of reactive pricing: external and internal. 

External reactive pricing is when you...

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