What do you do, and how do you feel, when the show is a total bust? You haven't' made sale, you notice your neighbor hasn't made a sale, and the customers didn't patronize the show? Know in your heart that even big fortune 500 companies do not make money everyday. What matters is the bottom line on your quarterly/yearly reports Keep accurate records and chart your progress. Don't write off a show just because you didn't do well one year. Often collectors see your work, but don't buy, only to return the next year asking for you.
Accurate record keeping.
Record your sales and expenses weekly. Throwing receipts in a box serves only one purpose. It adds stress to your year end tax gathering.
Open a personal account using a d.b.a. Create a worksheet to record your out of pocket expenses. I can not begin to tell you how much money can slip out of your hand with small purchases. A phone call: 35 cents, a candy bar: 50 cents, snacks and nibbles, tips, all add up. Charge it all back to your company. If you don't pay yourself back, you will be paying more in taxes. Don't forget to clock your mileage to and from a show, while running company errands, and to the bank. A mile not recorded on your expense sheet, is a mile you have to pay taxes on. The US Government publishes a list of legal deductions. Use it and save money. Keep the receipts stapled to the worksheet. Even if you don't use the expense you will have additional proof you were conducting business.
Uncle Sam uses standard deductions as guides to small businesses, and your deductions must be in line or you risk an audit. Play it safe and keep accurate records and receipts. If you can not find the time to keep accurate records, hirer an accountant, or ask you computer whiz-kid to enter the information into your computer. You can do editing and modifications later
Repeat the saying "DO IT NOW, DO IT NOW, DO IT NOW!
Stay focused with the task at hand. Make a dream list and work smart to make it all come true.
Remember, success is never ending.
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