“The only thing that stands between you and your dream is the will to try and the belief that it is actually possible." - Joel Brown

The Creative Entrepreneur's Guide to Financial Success

We know that running a creative business is an exhilarating journey filled with artistic passion and endless possibilities. However, when it comes to managing your finances, things can sometimes get a bit overwhelming. You know that financial success is essential to achieving your goals. But with so much information out there, it can be tough to know where to start.

That's where this guide comes in. We'll share our top tips and tools for creative entrepreneurs who want to pursue financial success.

1. Create a financial plan.

The first step to financial success is to create a financial plan. This will help you track your income and expenses, set financial goals, and make sound financial decisions. There are many different financial planning tools available. We are fans of You Need A Budget (YNAB)* and EveryDollar but, ultimately, you need to find what works best for you.

2. Get organized.

It's important to stay organized with your finances, especially if you're self-employed full-time but even if the business efforts are a "side hustle" only. This means keeping track of your invoices, receipts, and expenses. There are many different accounting software programs available that can help you stay organized. Accounting software programs like QuickBooks Online, Xero or ZohoBooks are great tools for keeping your business finances organized.

3. Set realistic financial goals.

It's important to set realistic financial goals for yourself. Don't try to do too much too soon, or you'll set yourself up for failure. Start with small, achievable goals and gradually work your way up to larger goals.

4. Invest in your future.

One of the best ways to achieve financial success is to invest in your future. This means saving for retirement, paying off debt, and investing in your education. There are many different investment options available, so find one that fits your risk tolerance and financial goals. We're advocates of Financial Peace University and YNAB's approach to identifying, creating and then managing your overall financial plan but, again, you need to find what works best for you.

5. Seek professional help.

If you're struggling to manage your finances, don't be afraid to seek professional help. A financial advisor can help you create a financial plan, track your spending, and make sound financial decisions. In addition, a qualified and competent bookkeeping professional (heeeeyyy!! 👋) can keep your business finances accurate, up-to-date, clean and complete. And, finally, a good CPA or EA can help you manage the tax implications in your world.

Conclusion

Achieving financial success as a creative entrepreneur is possible, but it takes hard work and dedication. By following the tips in this guide, you can set yourself up for success.

Additional Tips

• Network with other creative entrepreneurs. Networking with other creative entrepreneurs can help you learn from their experiences and get advice on how to achieve financial success. There are many different networking events and organizations available for creative entrepreneurs.

• Take advantage of government programs. There are many government programs available to help creative entrepreneurs, such as grants, loans, and tax breaks. Do some research to see what programs are available in your area. Check out the Small Business Association (SBA) and National Endowment for the Arts (NEA) as examples.

• Don't give up. Financial success takes time and effort, but it's definitely possible. Don't give up on your dreams and keep working hard towards your financial goals.