Friday, December 14, 2007

ROCK BAND

I formed a ROCK BAND (www.RockBand.com) with my neighbor Carl (http://www.mokme.com), his girlfriend and his sister. We have band practice a couple times a week. I'm the band's official drummer, and I'm getting pretty good at it. Not as good as this guy though...






Or this guy for that matter...





Thursday, December 13, 2007

In the past 6 months...

I shaved my head. I gave away half of my wardrobe. I bought my first Blackberry. I bought my first Apple computer. I ran. I boxed. I lifted weights. I gained 12 pounds of muscle. I became an athlete. I hired a boxing coach, a personal trainer and a nutritionist.


I paid off 100% of my student loans, and 100% of my credit cards. I freed myself of debt. I started accumulating savings.


I spent more time with family and friends. I wanted these people to have a good life. I took my mother out for lunches during her work week. I called my Dad up to say hi. I used my Macbook Pro to video conference with my sister while she was in Tokyo. I hang out with my neighbor Carl, and jammed to Rock Band on his xbox. I went out again. I sat down with roughly 20 of my friends, and mapped out detailed diet and exercise programs for them. (Most of them are artists and now they are into doing sports!)


Most things in my life are in harmonious order. I feel healthy. My body is in great shape. My head is clear. I've developed habits that I feel will help me lead a long and fulfilling life. I am very proud of myself.


Now that I am officially debt free, the next thing on the agenda is to secure my financial future. For the past few weeks, I crunched through a number of books on personal finance and productivity. This gave me a basic foundation to begin with. But I am the type of person that performs at his best when I have a coach.


My boxing coach helps shape me into a boxer. My personal trainer gets me pumped to lift weights. My older sister (a gifted photographer / artist), mentors my photography and my career. I even found a coach for video games, who trained me after I defeated a world champion of Tekken on January 5th of 2007. From his instruction, I was able to qualify for the 2007 World Championships in the Summer of 2007. Since mentors have done so amazingly well for me, I've decided to hire a business management consultant.


I found someone who specializes in consulting small businesses, and has several professional photographers as clients. Its been fascinating so far. Here are the steps we're taking:


Step 1 is to list out my goals, long term and short term. I have a few basic standard life goals. I want to own a house. I want to raise a beautiful family. I want to be wealthy. I want to be a successful photographer who makes great contributions to the art form. My short term goals consist of landing ad campaigns more regularly, increasing my day rate, purchasing more photography equipment, incorporating my business, accumulating a large amount of savings, developing my stock portfolio.

Step 2 is to create a macro plan to determine the milestones that will allow me to achieve these goals. The first concrete thing to do is to list out and organize my personal finances. What are my fixed expenses? What are my sources of income? etc. Once we have all the numbers down, we crunch through them to determine what the minimum annual salary I must meet, to both cover my expenses and also allow me to save money towards accomplishing my goals.



Step 3 is to determine exactly how many jobs I need to take on per month, and what is the minimum each job can pay me. The photography market is so competitive and volatile, it gets to be very difficult to determine the price of my services. If I bid too high for a job, I might lose it to a equal or less qualified photographer who bid lower than me. If I bid too low for a job, I might lose it because the client might who has too much pride to work with a "cheap" photographer. At times, its sort of like gambling or playing a game.


Photography jobs generally have 3 characteristics:

. Creatively fulfilling.
. Develops my professional network.
. Pays handsomely.


The ideal photography job meets all 3 criteria. But most of the time a job only meets 1 of them. So its my responsibility, to make thoughtful choices regarding which jobs to take, which jobs to turn down, and which jobs to go after.

If I have a carefully planned pricing system for my jobs, I can justify both to my client and myself how much each shoot should cost. I can then determine whether or not I should take a job. I can also know beyond a shadow of a doubt, if I have enough breathing room to offer to do free photo shoots for art directors that I really want to establish a relationship with, or if I can take on "passion projects" just for my pure love of photography.


Step 4 begins in January 2008, when my business will be officially incorporated. In doing so I can have clients pay directly to my business's account. I can then issue checks from this account to my assistants, and treat them as independent contractors. I can charge all my photography expenses on a corporate credit card, and have a neat detailed record of all my business expenses in one place. Legal liability for my shoots will fall onto my business, instead of me. I can take advantage of all the tax breaks offered to small businesses. The benefits are substantial.

Step 5 is to meticulously create a detailed database of all my transactions, travel expenses, equipment purchases, equipment maintenance, direct materials, direct labor, etc. This will not only function as a highly organized book of finances, it will also allow me to project profits into my future. For example, I could look at my 2007 database and see that I had spent:

"X" on Photography Materials
"Y" on Health Insurance
"Z" on Advertising
"D" on Travel
"G" on Taxes
etc.

and had earned
"I" Gross Income per month
with my Net Annual Profit being "P".

The database will allow me to clearly understand how each figure closely relates to one another. I could then use this knowledge to project future outcomes. Say I want my net annual profit for 2009 to be $300,000 (for example), then what would "X", "Y", "D" etc. have to be for me to get there?

Yes. Step 5 is pretty badass.

...

Ok. So thats my update. 2007 is just about over. I'm going take it easy until New Years. Spend some time with my family, and rock out to RockBand till 2008 hits. :)

Wednesday, December 12, 2007

Excerpt from "Boxing Journal" - December 5th, 2007



I woke up very early this morning and headed to my boxing gym to spar. My coach paired me up against a more advanced boxer. He tells my opponent that it is ok for him to use a complex offense. I give my coach a funny look as if to say "Why did you tell him that?". My coach says, "This is the only way you're going to learn."

...

I am very nervous stepping into the ring, because I usually box in the afternoons, when I am at my sharpest and most energized. But I have meetings this afternoon, and going in early was my only option.

During the first round, I mentally review all my boxing notes: Lead the way. Use the reach of my jab to control the pace of the fight. Make him play my game. Slip his jabs. Sway his straights. Duck his hooks. Backdash his upper cuts. Never stop moving. If he catches you, BLOCK. And always, make him work to hit me.

I try. But he is smaller and faster. He's the one making me put in work. And I can't keep up with him.
By the second round, I am exhausted. My opponent is collected. Very defensive. I try to open him up, but I've spent what little energy I had this morning. I'm sleepy, ineffective and frustrated.

My coach yells at me for coming into the gym tired. He says, "You are wasting everyone's time."

I think about how just an hour ago I ate 4 cups of oatmeal, 8 hard boiled eggs and a piece of grilled chicken. I feel like an idiot. "Why did I not allow myself enough time to digest?", I think to myself. My opponent notices how unfocused I am, and finally decides to get offensive. He unloads his punches on me. He is very accurate, and lands several punches to my head. I start dry heaving every time he hits me.

Its the end of the 2nd round, I am already defeated.

The 3rd round starts. I no longer care. I am covered in sweat. I barely have enough energy to keep my hands up to block. I am still dry heaving. I want to leave. I want it to end. But it won't end. There are 2 minutes and 55 seconds left to go.

2 minutes pass. And in that last minute, I feel a strange sense of inner peace wash over me.

I get punched in the face, and I shake it off. I didn't blink. I didn't dry heave. My stamina feels intact. I experience a euphoric moment of clarity. My body moves fluidly and unflinchingly. Something in my brain unlocks. I feel creative. I want to experiment.

I lean my head forward and pretend to be tired, lost in thought, just as I was in round 2. I want to incite a response. I want him to attack me. He bites. My opponent swings at me with a left hook, I duck under it, and pop him right in the mouth. My opponent is taken back. He tilts his head to the side, nods a bit, smiles at me, and in a gesture of respect, he starts throwing very hard punches at me. I block them. And we're both smiling now.

He grows tired from attacking so much. And he puts up his hands to block. For some reason I have enough energy to punch really hard. There are only 20 seconds left, so I just unload as many hard punches as I can and I knock him back into the ropes. I throw a flurry of punches at him, and eventually land a beautiful straight directly in between my opponent's eyes.

The round bell rings. The fight is over. He looks at me in surprise. I am just as surprised as he is. I hunch over and start dry heaving again.

My opponent helps me up, and gives me a hug. He tells me I did an amazing job, "In that last round, you did not look like a beginner."

He steps out of the ring, and compliments my coach on how he well trained me. My coach smiles at me in approval. And then he actually gives me a compliment. "I'm impressed", he says. I can't believe it. I am so used to him yelling at me, and telling me that I'm not working hard enough. I finally received my first genuine compliment.

I asked my coach, "Why did I all of a sudden do so well at the end of the 3rd round?"

He says to me, "The more you relax, the harder you punch."

"That's really beautiful.", I say.

"Well think about it later. You still have another hour and a half of training to go today. Get to the heavy bag and give me 3 rounds.", he barks.

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