Top 3 Creative Business success secrets to make it more profitable.

"Change is the only constant", a great quote which did intimidate me for as long as I remember and when last year I got scammed for worth 35 lakh Indian Rupee by a reputed bank, which is an add-on to my memory and will stay with me as long as I can remember.

To initiate, I have had a weird relationship with money since childhood, I was a saver until I turned into an arrogant teenager and eventually as I stepped into my late 20s I realized it was a good time to go back to my initial avatar, though this time I was more mindful as a newbie retail investor and an unexplained desire to dig more into the financial world which let me be me and helps me in my creative goals.

2020 has been a life-changing year for many, I had to take a few drastic steps myself, which turned out to be a mere blessing and then one day when my bank account got credited with a few handsome numbers and I didn't think anything else than reinvesting the same for my long term goals.

Keeping it short, my dad insisted I invest in a safe zone then the money grows to its full potential via equity. A reputed bank misselling life insurance with a Guaranteed" investment scheme, a true murderer if you don't have any desire to beat inflation in general. A three and half month-long struggle to bring my case to justice with the most reputed bank in India and not only I earned my tax-free money back but it taught me 3 very indispensable lessons of life, super glad to share them with all.

To Note: I am not a financial advisor and anything shared is just my views and not any tips and tricks or shortcut to success and wealth. I strongly advise you to consult your professional financial advisor and plan your finances according to the needs and lifestyle you are habituated to. This website and g hold no responsibility for any nature of physical, financial or psychological loss or damage.

1. Money Control.

India got its independence in 1947 and in the last 76 years we have observed unimaginable economical growth, however, we may be dissatisfied with the opportunities we assume we lack in our country, it is mere ignorant if you are not able to grasp the potential the country holds and how to get the best of it.

Risk-taking appetite is not plenty yet considering our old folks still believe in Gold, Real-Estate, FDs and "Guaranteed return" Insurance to be the only way to generate financial assets for long-term goals and it is our immaturity to blame them for any lack of 21st-century knowledge. It is our duty and right to know more about present financial tools, and surprisingly many of which are available for free at the tip of our fingers hence it is up to us to do justice to our hard-earned money.

Yes, even I was offended by the blunder my dad put me through, but down the line I even realized it to be a blessing in disguise and it is my responsibility to know more about investment than playing the blame game. They did the best they can do, and it is high time to take power and control into our own hands to do the best we can do for ourselves.

Hence "Change is the only constant" became a mantra in my life and just like FD were the fav for them we have far more lucrative tools good enough to beat inflation and provide us with the best security we creative professionals require from time to time.

Controlling our financial assert is not about hoarding it under the mattress but rather educating ourselves about financial terms and ways to generate with the existing corpus and I will highly suggest a few books in the sequence to be read below for everyone to initiate their mantra to wealth and prosperity.

1. STEP 1:Rich Dad, Poor DAD by Robert Kiyosaki, and

The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness. The book by Morgan Housel, helps anyone to lay a financial education foundation and how to think about the role of money in our day-to-day life. The stories narrated are very relatable, making it the best part of the reading experience. Many of it is based on the American economy hence I will advise it to be considered more from a money psychological point of view than a book giving you investment jargon.

2. One-time investment for better recurring Dividends.

Business Management and Financial Advisory agencies used to withhold the multi-dollar knowledge which kept them blessed monetarily is an old man story along with many share-market related myths. Numbers are not delusional and they all have a way to be understood by anyone who desires to. (I hold no basic knowledge of stocks and share market, and this article holds no information for the same)

It is the failure of various art academic institutes in India which shy away from practices non-creative aspects of running a creative studio and let alone grooming an artist and not a creative professional. It is more crucial at this point in time considering creative content creation is an amalgamation of various mediums. To add, social skills along with financial awareness are very indispensable characteristics which can take anyone a long way.

My severe lack of financial education and understanding of legal terms let me sign up for the scam, I admit every ignorance of mine and I take the oath to learn more and share my experience and knowledge with anyone who can benefit it from.

I assume many of us are aware of PPFs, Fixed deposits, gold and various modes of saving schemes along with Tax Benefits. Does the question remain how many of us ever thought to go under the sheet and dig deeper? CAGR, XIRR, Compound Interest, Absolute Returns, Guaranteed returns (I have sincerely earned an allergy for this term) Free-Lock Period, Lock-In period, Premium, SIP, SWP, Withholding, Withdrawing, Long Term and Short Term Tax, tax harvesting and Indexation Benefits are a few words of many which can make and break our decision of investing for any assigned goal.

As many professional investors swear by, every investment decision should hold a value, an agenda or a goal.

Control required to know more of the uncontrollable, yet control is not about being a control freak but to be aware of your risks and risk appetite to take calculated steps to reduce risk if any.

3. Book recommendation: Let's Talk Money by Monika Halan: My first step towards getting to know money basics and an eye opener for anyone who is an Indian resident and self-employed creative professional. It an easy to read and full of helpful financial jargon and terms. A book which helped me to understand the scam and how better to confront officials in their own game.

4. Book recommendation: What Every Indian Should Know Before Investing by Vinod Pottayil.

A great book to give a get-go and understand more about various investment and Tax saving tools available in India. One Girl child can also help you save tax.

5. Book recommendation: diamond in the dust saurabh mukherjea | Anyone serious about stocks selection, retail investing and wishing to dive into this beautiful world of rewarding volatility.

3. Creative business success is proportional to your bank account.

My profession is not simply an act of creating content 24*7 or simply to doing my taxes, paying my professional fees and keeping an account of all my sales and purchases. GST and ITR records need to be kept in accordance with its rules and I need to learn and be updated constantly to avoid any defaults.

It is easy to hire a Tax Consultant firm and personally I subscribe to one (I like to keep my work simplified), though we need to understand our business better than else.

I remember a very good friend of mine who told me his lack of understanding of taxes and how he never bothered to claim his TDS (10% tax deducted at source) at the end of a financial year even though he was under the no-tax bracket, as he assumed it is something to be not-claimable, made me think hard of how much money we creative professionals much be loosing in long term.

I hope this blog was helpful to any enthusiast or professional interested to climb the ladder of wealth, prosperity and success in their own life. I sincerely hope being creative is not considered just a way to rewind at the end of a tiring day, but a way to make a successful living.

Has anyone ever thought about how celebrities earn their handsome living and if you assume it's mere from the primary job we know them through, dig deeper. Most of them earn through commercial endorsements, many are multi-business investors, stock buyers and running a creative agency at the side.

To sum up, here are 5 bulletproof ways to Master your Creative Business and Money management

1. Average your annual income into your monthly salary. Understand your inflow and outflow to have better control of your expenses like necessities and avoidable expenditures (minimise your splurge)

2. Pay yourself first (investment for short, mid or long-term goals) and also set aside a certain corpus into your emergency fund, 6x of your monthly expenses or 12x, depending on how volatile your creative business is. There are various Mutual Funds available with above-average saving interest rates along with an option of instant liquidity just like your bank account.

3. Medical Insurance and Term Life-Insurance (the best way to safeguard your dear ones in any situation unforeseen) are non-negotiable and the premium value is always proportional to your age. It is advisable to avoid any Guaranteed schemes related to life insurance unless you understand completely what are you signing up for.

4. The art of keeping limited liability (loans or EMI, real estate maintenance fees, physical gold security, bank locker subscription) and regenerating wealth to reinvest in self and update the existing skills is crucial for any successful business.

5. Understanding India's economy and various tools to generate more wealth, save on taxes and more is important. Public Provident Fund, Mutual Fund and Gold Bonds are a few which help me afloat from time to time. Studying more about them over platforms like Groww, Labor Law Advisor, CA Rachana Ranade, and Pranjal Kamra are a few sources in case books are not your forte and they are free!

6. To be a successful investor is a life long journey of being a student to understand better investment tools and taking a calculated risks. The required enough greed to reach your goals is a good appetite and anything beyond is an act of immaturity.

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Hello! Myself, Shovona Karmakar is an advertising photographer and a product stylist based out of Mumbai, India. I have worked with upGrad, Whisper, ICICI, Future Generali, Whisper, Pampers, Morningstar USA, Pepe Jeans and more. An avid plant lover and having the superpower to connect to stray dogs, keep me grounded. If you ever find a crazy chick flying on her cycle, that's me! Check out my other work at: shovonakar.com

5 Productive Ways to Spend Your Idle Time

We freelancers often hear and experience people saying they’re not busy enough or that they don’t know what more to do to bring value to their creative career. We know we will be occupied for months as and when the project is in it's full swing, but what when the vacuum comes over and we don't exactly feel creative enough, which is quite healthy and to be expected in the initial days of your self-employed career.

So, What about those idle times?

How we manage those idle work phases in our career is a matter of mindset and prioritization. The unpredictability of such career choices does limit our planning and even though living on its own terms sounds like a Rebel holding a Bottle of Thumps Up and soaring the "Let me Challenge the Life" quote, in reality, it doesn't work for long. If we truly analyse our procrastination nature and the time spent on those pleasure only task, the realization that a lot of unproductive hours went past with no plan met is scary as hell, especially when we had the fantastic opportunity to upgrade ourselves to bring in the cash flow we thought only our primary job is responsible for. I am glad to share there are a few fantastic investment options to grab your hand on which your older self will be very thankful to you.

1. Financial Education: There has never been a great era to live in like the present. Any kind of financial crisis or setback is quite the constant worry every freelancer has and hence educating yourself with regards to finance and how to make money work for itself is a one-time investment and duly the best gift you can ever think of. Setting a few days or a week or two, listening to podcasts, and audiobooks or simply grabbing a paperback or eBook is a great way to make the best of your idle time. Once you know how it all works, you will feel the much-needed superpower within.

As a part of the capitalistic world, where inflation and other basic needs are unavoidable and when payments are delayed for months, it's high time to get into the automation of saving (I at least keep a 6 months corpus aside as an emergency fund). Understanding various financial assets like PPF, Medical Insurance because the chances of breaking a leg are higher than dying. Life insurance, only in case you have dependents, and best of all Mutual funds, not because "Mutual Funds Sahi hai!" but to allow your money the opportunity to work for you and even beat inflation in the long run.

I only allow my expenditure only post I end up investing into my respective investment columns (PPF (Tax saving), Medical Insurance (Tax saving), Short Term, Midterm and Long term investment) every month, most of which are set on automation.

It's always advisable to seek a financial Consultant against one-time or retainer-based fees who is more than certified to guide you in the best way possible.

2. Re-analyze your spending habits: With the very need for instant gratification, we very often end up purchasing for the sake of it with no intention in mind or even if we do its extremely occasional that we will end up consuming the product or service. I love my athleisure wear and my need to buy traditional wear is so rare that I almost don't end up wearing one for years. It's great to visit those imported food marts and grab a pack or two of exotic sauce, cheese block, pasta or dark chocolate which end up moulding near its expiry date just because we don't know how to make it to the expectation we had during our last visit to that A la Cart menu venue.

The lesson learnt, is that spending habits need to be checked once a week or twice a month max. Now-onward, open your pantry or fridge (trust me it's a house full of junk, more than you think of) and go through all you think needs to be refilled or removed as required. It is great to keep a basic grocery list in hand which needs to be sourced monthly and anything on top of it should be in the minimum quantity to avoid wastage.

Similarly, the frequent rant about "Having nothing to wear" feels like a life crisis for many. Next time when you have the urge of buying that dress you eyed so hard during your last mall visit, go to the website and keep it on the wish list for a week and two to least fulfil the desire to buy and give enough time to yourself to find a reason to have it, I am pretty sure unless you are a shopaholic you will understand the exercise and for sure you can thank me later!

3. Learn to live alone: It can be rosy and exciting how to lead one's life on its own terms, but no one cares to understand the mental turmoil it comes with. The act of learning to live alone or being content crucial, especially if and when involved in the creative business. It is always advisable to give yourself a break much needed and journal down about all you have achieved so far. It doesn't have to be exotic, expensive or adventurous, as simple as having a two-day and one-night stay is enough to bring that anxiety and worry compounding in you, below the bar of your tolerance level. Blowing your steam off is worth it and never apologize for it.

4. Read Autobiography :

Reading more about world-changing personalities has always been on my list and It's entertaining to binge-watch all the series and movies showcasing the life of the biggest of the big, one must keep in mind that that creative license gives the freedom to edit the story as per the requirement to make the much-needed bucks and entertainment vs books and documentaries meant to stick to facts often authorised by the protagonist itself. If anyone wants to know the real them, books and podcasts are the way to go.

It will require a far stronger recommendation than imagined and decades of experience to work alongside Elon Musk, Oprah Winfrey, Mark Zuckerberg, Bill Gates and more and have the much dreamed in-person experience and learn all that they have achieved so far. If we shake our-self up hard enough we will realize it's a long way to go and I will encourage with every ounce in my body to chase the dream until met, till then read about them to learn from the best.

Remember, the best of the best are all self-declared bookworms.

5. Sleep better: In today's world, it's quite natural to get consumed with work for weeks and struggle to get back to our natural cycle. Having a good night's sleep is crucial to the vital functioning of the body and brain though don't shy away from those extra hours napping during noon if possible and never feel guilty about it.

Many will swear by hustle and work till you die, keeping aside all the science which strongly supports the art of sound sleep, I have personally benefited a lot. My creative juices have thanked me again and again and my body is set to run the second cycle to work for the next 4 hours post-lunch with no fatigued felt within.

By spending your idle time effectively, you can increase your productivity and find yourself feeling more fulfilled. Most importantly, you don’t need to compromise on your peace of mind thinking about those days spent with no cash flow in. Next time Look for those idle times you can “steal.” How do you spend your idle time? Do share in the comment if it’s not mentioned in this post.

A few recommendations:

BOOKS:

• Psychology of Money

• Rich Dad and Poor Dad

• Let's Talk Money: Monika Halan

• Elon Musk: How The Billionaire CEO Of SpaceX And Tesla Is Shaping Our Future

• Steve Jobs

Youtube Channel:

• Labour Law Advisor

• CA Rachana Phadke Ranade

• The Financial Diet

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Myself, Shovona Karmakar is an advertising photographer and a product stylist in Mumbai, India. I have had an opportunity to work with upGrad, ICICI, Future Generali, Whisper, Pampers, Morningstar USA, Pepe Jeans and more. I live with my plants, and a few adorable fur babies and anyone can find me at the gym. Check out my other work at shovonakar.com

LINK

Secret to Success v1.1

The power of positive thinking and having people who love and support you unconditionally and with no question asked which eventually leads you to completely omit those poking you from time to time is an attitude many misunderstand as a way to success.

To note:  This article is just a mere personal observatory and by no means I am liable for any personal, professional, physical, mental or psychological pain and loss.  

Often we are been told to be surrounded by positive people though I have a question for you to ponder, how do you know who is compatible, when you don't know what traits are not working for you? How do you know what is love when you have not felt what betrayal means? How do you know who supports you when none cheated you?

If you know what it is, this article may not be for you but still read along in case you are open to grabbing a few more pointers to add to your list to watch out for.

There is a thin line between criticism and feedback and on any usual day, I am sure many will not stop for a sec to feel what one should feel rather feel what one wants to feel.

In my understanding, the word "Criticism" is often regarded as negative and demeaning for many and whereas the word "Feedback" is positive and supportive.

To be clear I don't expect anyone under 30 years to really appreciate what is mentioned in this article. 

It doesn't matter whether you are a high-school going student, an intern or a full-time professional be it service or self-employed, the above has and will always be a part of our life as long as we live. Success comes to them who knows when to appreciate, edit and accept it accordingly.

Often your folks don't know the best hence entrusting them with no question asked has its downfalls. They for sure have their set of experiences that do qualify in terms of quality but as time passes the intensity differs and we have no control over it hence being open is the way to go.

Below are a few pointers from my personal experience for you to look out for in anyone whom you do or may cross paths with.

Personal

To note: It is a choice you ought to make as per your requirement and environment to suit your living needs and standards. By no means its an imposition rather mere suggestions in case you are seeking a better social life.

My childhood has been quite critical for a decade and two until a few people made me prove wrong, and I am forever indebted to them to do so. An individual with dark skin, afro curly hair and above healthy built led her to go through various experiences which shaped the way she is down the line. A wall she carried for others to maintain a distance from her and was and is a way to protect herself from any further damage. After many years of her desire to be with people who can help her understand better, she comes across whom she needed the most and they eventually guided her to be who she can be at its best.

A desire | wish | passion to meet people, living beings and instances in life who and which can teach one to be it's best is what leads one to alter it's attitude to be wherever it wishes to be is undoubtedly a powerful tool and skill to posses and practice everyday respectively.

In my everyday life, I have come across people who admired my existence and who simply faked it. My job was to analyze the sincerity in their statements and keep them at distance accordingly.

The skill of understanding sincerity in anyone helps in a long run.

Many admired, worshipped with overwhelming compliments simply to be in my good books to take the best in me and eventually part ways when I have nothing to offer is a toxic connection to carry. The moment I feel so I either choose to be distant and avail my presence as per my convenience only or choose to part ways in situations where I suffer from anxiety and worry.

On the other hand, many respected my existence without over showering me with superficiality and they may or may not have anything to ask for, at the end, I felt safe and being myself in their company. The reason being is if they come to me any day bluntly letting me know where I am wrong and how it affected them confirms that they wish me to be a part of them, cause else they wouldn't have cared so (many will simply do so to make you feel miserable).

In today's world, people don't have enough time and bandwidth to invest in any relationship unless it matters to them any way more than anything.

I have difficulties getting along with my folks, the difference lies in the conditioning and the exposure to life. I do admire and am forever thankful to them for providing me with things that helped me to come so far. I also admire all the love and support through our differences doesn't get banished for the same above. The way I see my life and the belief system I have gained in the past many years often challenges them. Yes, they do feel the authority to have control and I only choose to give as and when I like (it is forever a struggle for me).

To note: when I say so, family is the most subjective affair to have in anyone's life and it's up to them how to move along the game to either win or loose and often simply to play draw. Being neutral is often a best strategy to go about.

I remember an instance where my dad brought up a particular trait of mine to me. It so happened I used to ask for a tentative budget one had in mind, anytime anyone called me for work. I don't mean to defend myself though that's what I have learnt in the past few years as and when I started freelancing.

Dad: You know what, I have been listening to your past few conversations and you need to stop asking their budgets, it is not a good way to go.
Myself: Why??? Well that's what I have learned so far from my other colleagues, they do the same. 
Dad: You may feel so but it is not a good way to about it, I repeat!
Myself: Aaah, dad, you don't know how my business worrks... hmm anyway...so, what do you think what I should do henceforth?
Dad: In-case one asks for your fees, tell them a ball park and let them decide if you fit their bill. It's business you will not earn the best and you will not be underpaid all the time. You will be happy to be paid what you asked for. 
Myself: Ok, what about in-case I severely over estimated as per my client and lost the job?
Dad: That's ok, at least you didn't underpaid yourself and in case the concerned values your skill, it will come back for any further negotiation and that's the client worth the chase.
Myself: Ok, will try to do the same next time. 

I mean no joke and it worked wonders for me, I am happier and more content about my deliverables. My business is doing better and I got the opportunities I always dream for. The value I wished to add in me as an artist and a business person gained many folds and down the line, I have gained the confidence and self-respect I always wished for.

To add to the above my dad will not be the best person to criticize my work and any technical glitch it may have, simply reasoned being he has no experience to have the needed understanding of being the critic I wish for when it comes to photography, design and production.

The Rude ones: I don't know how to explain myself to you better than to tell you the benefits of looking into someone beyond their rudeness. Every now and then we come across those into themselves, rusted monks who have nothing to offer other than #nofilter statements and who very often makes us feel off about ourselves. 
The thing which should make us wonder is why we felt so? Than, why he|she|it said so! if we think hard we will realize what the problem is and it is up-to us to edit it for our own betterment.

PROFESSIONAL:

After many professional failures, I was desperate to have access to the right people, one of the many secrets to creative business is often collaborating with one who wants you too to succeed and the rest is often been taken care of by itself.

I met people who were sweet, sugar-coated and eventually ghosted me in various forms which led me to confusion and forced me to retrospect whom to trust and not. As a person who had been through enough simply seek one who wished it's well with complete sincerity. Met enough art seekers who wanted me to keep my work to myself for their benefit, had hours-long conversations with people who adored my work but never considered me enough for any assignments, crossed paths who promised opportunities to attain what I always dream for but they never ended up responding to my calls.

I wasted a lot of time with people who acted well enough to make me feel good initially but eventually didn't mean enough or otherwise I was of no concern to them.

(Sincere recommendation to be good enough to those who were not as you never know what is there in coming times unless it falls under no tolerance policy)

In 2019, I decided to freelance as a product stylist apart from photography to enhance my networking ability and eventually met a professional whom I was aware for a long time and I got a call from his production manager seeking my availability and fees, things went through and we met in person and he realized that he knew me. It was a long long day when we finally finished our shoot and ended up with the deliverables. I have heard a lot about him as a producer and his past en-devours and my in-person working experience confirmed my assumption and with no further delay, I wanted to have a conversation in case he wishes to collaborate for any future projects. I was so happy to know when he was all eager and down the line, we ended working on multiple projects. But wait he had more to offer than just being my producer.

The other secret to success is being uncomfortable with being comfortable.

We avoid debates, confrontations and other respective conversations which is meant to alter ones believe system. Ego is what people think is at stake and often misunderstand it with an attitude. 

I had this bunch of images on my website, work from my past commercial projects and they all looked pretty well for many but sadly my portfolio struggled to get a green go for many years. I eventually started to ponder in case I need to edit or do something to bring the change it needed. I do believe in my work and my skill but I was pretty assured I do lack something, an attribute which is stopping my work to surpass the hurdle and finally one day I thought to ask my producer about the same and must say I felt low about myself after long. The conversation we had didn't quite throw me off (well it will do to anyone else if I have to be honest) but whatever he said it was indeed enlightening and eureka I got to know what I was lacking. He was not able to spoon-feed me with the solution but gave me the right amount of magic portion for me to sort the rest.

As I type this I am reworking on my portfolio and I am super excited to say I do binge on a few assignments post-pandemic with not many hurdles when it comes to my photography portfolio.

Yes, I do still struggle with those confrontations from time to time and honestly, I look forward to it as I get to learn so much.

To sum it all up the above, the struggle is still on and the journey to a better myself is an ongoing process. Like anyone and anything, perfection is a myth and not letting self do the mistake is what fools believe.

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Hello, I am Shovona Karmakar, a commercial advertising photographer and product stylist. Portraits, Product and Food is my speciality and have had the opportunity to work with various national and international brands, corporate and publishing houses.

Feel free to connect in case of any business queries or simply use the contact form.

We are a cross-functional team, presently based out of Mumbai, India, that provides specialized service in still photography, product | food styling, cinemagraphs, digital content creation and TVC production.

Thank you so much for reading and do visit again for more.

#commercialartist #advertising #feedback #secrettosuccess #positiveattitude #winningattitude #productstylist #secrettosuccess