Fashion / Music
Fashion and music are diametrically opposed to accounting. Question? What percentage of Accountants have any fashion sense? Answer probably less than 5% but can we help you make money?
I am not going to be so harsh when it comes to music as nearly everyone thinks they can carry a tune. But it can be a real issue helping designers and musicians when it comes to business. Typically a fashion business stems from a strong desire based on thoughts and emotions and a particular skill. The sad thing for most designers is that they do not have an understanding of profitability and hence great designs do not necessarily mean great profitability.
Just because you are small does not mean things cannot go wrong either. In 2009 Herringbone filed for insolvency.
The music business is tough as well. Just because you're good does not mean you will make money.
So what we are really saying here is the way to make money from your art and talent is to have strong financial reins over the business. Make sure you are making money before you start. So the questions here are
Fashion and music are diametrically opposed to accounting. Question? What percentage of Accountants have any fashion sense? Answer probably less than 5% but can we help you make money?
I am not going to be so harsh when it comes to music as nearly everyone thinks they can carry a tune. But it can be a real issue helping designers and musicians when it comes to business. Typically a fashion business stems from a strong desire based on thoughts and emotions and a particular skill. The sad thing for most designers is that they do not have an understanding of profitability and hence great designs do not necessarily mean great profitability.
Just because you are small does not mean things cannot go wrong either. In 2009 Herringbone filed for insolvency.
The music business is tough as well. Just because you're good does not mean you will make money.
So what we are really saying here is the way to make money from your art and talent is to have strong financial reins over the business. Make sure you are making money before you start. So the questions here are
| What are your costs? |
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| What is your profit? |
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| What is your break even figure? |
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| How many hours are you working? |
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| If you had to pay someone to work you hours are you making money? |
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| How much longer will your cash flow last you? |
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We know what we are talking about. Our members have either been playing, producing or managing for over 30 years. Kerry Jeffers in particular has provided services to some Australia's best known talent including
Media Music - Ken Laing AO
Bobby Limb - Bobby Limb's the Showman
Col Joy - Col Joy and the Joy Boys
Doug Parkinson
We would be happy to field any questions in relation to your business. We love music and fashion so do not be shy. Give us a call and we can help you.
