We caught up with the brilliant and insightful Jaren Collins a few weeks ago and have shared our conversation below.

Jaren, thanks for taking the time to share your stories with us today Let’s start on the operational side – do you spend more of your time/focus/energy on growing revenue or cutting costs?

As an entrepreneur, one of my favorite answers to an arising problem is, “It depends.” When I went full-time in my photography business, I made six figures in revenue the first full year out. But I found that after I broke that ceiling, things didn’t feel much different. Sure, I lived comfortably. I had not only replaced my income from my full-time job, but I was also making more money than ever. But – my expectation was that once I became a six figure owner, the door would fall ajar and all my dreams would come true.

The lie detector test determined that was a lie.

The truth was that I was spending money just as quickly as I was making it. I was not reviewing financial statements. Heck, I was not creating financial statements. While I was elated to bring in $118,000, I was still stressed. “What do I do now?” I posed this question to my financial advisor. And she shared – “Well, there are are several things you can do. But the short answer is: Make more money.”

Yes – this was a true statement. I could go out, I could work my tail off. I could make more money. But – as this happened – I quickly learned an age old adage by the late poet, Christopher Wallace, that simply states: “Mo Money, Mo Problems.” I earned more. Things came up. Things got weird. And as the revenue grew and grew, I did not immediately feel change.

Until.

Until I began to pay attention to the entire picture. Yes, I was making more money. But what were my expenses? What was my forecasted income? When was my busy season? What did the income statements say?

I had more questions than I had answers.

Thankfully, I found a resource that truly changed the game for me. I applied and was accepted into Cohort 22 of the Goldman Sachs 10KSB program and I learned the information I needed to be successful. I learned how to forecast revenues, be mindful of expenses and pay attention to the financial statements. This allowed me to not only be prepared for the growth I experienced in 2023, but it also helped me to make better financial decisions to realize that growth.

When it comes to growing revenue or cutting expenses, you may ask, “What do you spend more time on?” The answer is “Both.” You need to know the full picture in order to be prepared for your own business success. Do the business activities to grow the revenue and be mindful of the expenses it takes to get there. Overall, you need an effective business and financial strategy to be successful. That’s what will get you to the freedom you so desperately desired when starting your business.

And, as a final note to all entrepreneurs.

Pay your taxes. :-)

As always, we appreciate you sharing your insights and we’ve got a few more questions for you, but before we get to all of that can you take a minute to introduce yourself and give our readers some of your back background and context?

I am a photographer/video producer, based in the DFW area. I got into the industry in 2009 when I noticed a huge gap in the representation of black people in media.

Throughout my career, I have focused on providing photography, videography and production services to corporate clientele with the aim of providing quality service in an efficient and effective manner.

My most proud moments have been capturing the first black president of the United States, Barack Obama, and buying my first home with my fiance as a full-time entrepreneur.

It is my goal to amplify the voice of all people and to create a space for learning for all creatives.

For you, what’s the most rewarding aspect of being a creative?

The most rewarding aspect of being a creative has been bringing the vision of others into reality. As a creative, I have an “eye” and a “style” but there is nothing more empowering than listening to a clients needs and being able to craft that vision into a project we can both be proud of.

Many of us have our own ideas, but developing a concept for a client takes humility, willingness to learn, adaptability and ingenuity. When I start a project, I tend to chat with the client, listen to their ideas, then use my expertise to create a plan of execution. From top to bottom, I work with the client to fulfill a skilled role that they may not be able to do on their own. And seeing it come to life, can be extremely satisfying for me.

Where do you think you get most of your clients from?

Referrals is the best source for new clients. There is nothing like a warm introduction from a friend or colleague. There is nothing better you can do for your entrepreneur friend than refer them to someone for new, potential business.

My business has grown to six figures plus because I have developed a business that others can trust to share with their own networks. When someone refers me, they know I will be responsive, reliable, professional and competent in working with their friend or client. I am expected to be accountable to providing exceptionable service. And, if I can’t, they know I will handle their referral with care to the best of my ability.

When referring a new client to your small business owner friend, be sure to give a glowing review and share exactly why they should work together. Your testimonial goes a long way to winning new business for your friend.

It is my goal to continue to make my clients and friends comfortable enough to share my business with others.

Contact Info:

• Website: jcicreatives.com
• Instagram: instagram.com/jcicreatives

Image Credits
Jaren Collins, JCi Creatives, LLC.