Bookkeeping Basics 101
Good Morning from Texas! As previously introduced, I am Texan Perfection straight out of Dallas. I am here to help my fellow SWs out with a few basic business tips. Whether you are just doing this on the side for extra cash or trying to replace your previous career - why not get the most out of your time and effort?
First things first: You need to document everything. Receipts, emails, passwords, *CONTRACTS*.... Back it up on an external hard drive... Never ever forget the number one rule in business behind "Fuck you, pay me" is CYA = Cover Your Assets!
Keep your personal and business budgets completely separate. If you do not have any basic bookkeeping or personal budgeting going on - 99% probability that you are losing money and time you cannot get back (Opportunity cost). It is a simple search on google away from a plug and play excel template. Update it a few times a week minimum if not daily and stay on top of your numbers (pun intended).
1. Personal Budget - If you do not empower your own finances, how can you fund a business? What can you cut to reinvest into VR? What networking options are near you? Could you maybe run an event with a local swingers or fetish group?
2. Marketing Rule #1: Create a NEED. You don't want your viewers to *kind of* want you.... You want their keyboards to malfunction from drool...Whatever your passion is sexually - know it and thrive in the fact that you are banking on it...Get turned on...Get wild! But do not get turnt ….Business and Personal separate....
3. 30/30/30/10 Rule: In general, most restaurants (for example) operate under the following revenue (or straight up Sales) guidelines: 30% goes to overhead (equipment, building, internet, computers, lighting, etc), 30% to Cost of Goods Sold (We have to maintain ourselves ), 30% to labor, which leaves 10% remaining for solid profit if your inventories are incredibly accurate and no one works overtime, etc. In our industry, We have little overhead to consider in this specific field, but our time and window of traffic is little amongst steep competition so our equipment, bodies, and attitudes need to be top notch. You could make a killing if you utilize platforms that broadcast via affiliates + HDMI splitters!
4. YOU GOT YOU! Remember - We are in a very over-saturated market, but many girls may have 'dat ass' in gear, but fail to develop a unique persona, cater to fetish, or simply understand that this is not a glamourous field. The more resilient you are in the face of adversity (rude customers, posting negative reviews of sights which could potentially damage your reputation, etc) - The more you will profit from said adversity via lessons learned.
AND MOST IMPORTANTLY - remember that what WE DO is incredibly important. We are courageous. We are PROUD of our sexuality and proliferate the sexual openness and embracing of others who may not have that comfort from any other human in this world. No words can break you, baby!!! Shake it off and make that moneeyyy!!!! Hit me up if you guys have any trouble finding the templates above.