How to Run a Successful Creative Business (Without Burning Out)
Running a creative business is rewarding, but let’s be real: it’s not easy. Between managing clients, marketing your services, keeping up with admin, and staying on top of your finances, it can feel like you’re doing ten jobs at once.
We are accountants exclusive to business owners and we partner with creative entrepreneurs, freelancers, and small business owners every day. We take the stress out of tax and financial forecasting so you can focus on your passion. Here’s what it takes to build a successful creative business - without burning out.
Get Comfortable Talking About Money
Running a creative business in Australia, you are used to working in your genius zone, branding, photography, copywriting, design - but the financial side? It’s easy to put off.
Blind optimism and hoping for the best is ok when your business is small, but it doesn’t put food on the table.
Talking about money often makes people uncomfortable, but that’s usually how business owners find themselves (accidentally) in a hole with their finances. Opening up about your goals and getting real about where you’re at now helps you plan to bridge the gap between the two.
Accounting for creatives doesn’t have to be intimidating. It should be empowering.
Use Xero to keep an eye on your cashflow - peaks and troughs happen, watching for patterns here can help keep you out of famine mode.
Price your services to reflect your skills and your overheads.
Keep money aside for your taxes from the start - EOFY isn’t a surprise party, let’s plan for it.
Talk to your accountant regularly so you can capitalise on opportunities and commercial decisions as they arise… don’t wait for tax time! (*cough cough* we don’t charge by the hour, so you can access us when you need us, without stressing about a surprise bill in the mail)
Tax Planning for Creatives
A smart tax strategy helps you make better decisions throughout the year - not just at tax time. From setting up the right structure, knowing when to register for GST, planning out your cashflow to claiming the deductions. Company tax planning for creatives is essential for long-term growth.
As soon as your business is big enough to be registered for GST, it’s time to think about tax planning BEFORE the end of financial year, to save any potential headaches, after June 30.
Prioritise Your Mental Health (Seriously)
As a business owner, your mental health is a business asset. If you’re feeling overwhelmed, overworked, or on the edge of burnout, it’s time to hit pause.
Creative businesses start because you have something to create, and people want it. In the beginning, it all pivots on your ability to create. If your mental heath suffers, business suffers. Your mental health and personal capacity is something that needs to be taken incredibly seriously.
Set clear work hours and stick to them.
Take regular breaks - step away from your laptop and reconnect with why you started this.
Get support - from a coach, mentor, therapist, or just a community that gets it.
Consider if it’s time to put on an employee, and in what capacity you can afford, and will be most beneficial.
Burnout isn’t a badge of honour. Protecting your energy is how you build a sustainable creative business.
Take photos of your receipts and stay on top of your bookkeeping.
Your time is precious and (we imagine) it’s hard to be creative when you’re stressed. Don’t need to lose sleep over how your business is performing. You don’t have to be a bookkeeping wizard in order to keep the wheels moving, you just need to constantly be chipping away at it (so it doesn’t snowball and become something you want to hide from).
Doing your bookkeeping yourself is simple with the likes of Hubdoc and Xero - you can take a quick photo and throw it straight into the app without any hassle at all. The reconciling part in Xero can happen later without the worry of lost receipts, but don’t let it get away from you.
Outsourcing your bookkeeping is a great way to make sure it stays in check. We can handle the reporting, BAS and financial statements to deliver meaningful reports that will keep your business trending in the right direction.
Know When to Hire Your First (or next) Employee or Contractor
You don’t have to do everything alone. If you’re maxed out, constantly turning away work, or spending more time on admin than on client work - it’s time to consider some kind of support.
That could mean:
A virtual assistant to help with emails and scheduling
A bookkeeper or accountant (*cough cough* us!) to keep your finances in order
Your first or next employee, to help you deliver your services more consistently
When to Hire for Your Creative Business
We help our clients figure out when to hire, what kind of support they need, and how to do it the right way, without overcommitting. Whether it’s bringing in casual help or growing a team, there’s no one-size-fits-all approach. But there is a smart, financially sound way to scale.
Build Systems That Support You
There’s no need to bend the way you work to fit a particular system, there are that many different ways to approach business that there is something out there that will support that way you operate.
Work smarter, not harder.
Find a project management tool that suits you (there are MANY)
Set up workflows for onboarding, invoicing, and content scheduling
Automate where you can - especially your bookkeeping!
And of course, AI - an ever growing and evolving beast that has something for everyone
Good systems help you stay consistent, deliver a great client experience, and take time off without your business (or you!!) falling apart.
(Read how we helped Laura Higgins master her money here)
Think Beyond Today
It’s easy to focus on what’s right in front of you - client deadlines, next week’s content, this month’s invoices. But the businesses that thrive are the ones that think ahead.
Think 10 years ahead, (where do want to be?) and work backwards from there - don’t be afraid to dream big
Plan your offers and launches around your lifestyle - not just what the market wants
Schedule time to review your numbers and goals regularly
Work with someone who helps you make decisions based on facts, not fear
We are big believers in empowered decision-making, and that starts with knowing where your business is heading and getting support to help you grow.
Let’s Make Your Business Work For You
Whether you’re just starting out or ready to scale, you don’t have to figure it out alone. We’re here to partner with you all year round - not just at tax time. We don’t charge by the hour, so you can talk to our team and get the support you need, when you actually need it.
We’re passionate about empowering creative business owners to make confident & informed money decisions.
Let us take the stress out of the money stuff so you can focus on what you do best.
