“If cabin pressure should change, panels above your seat will open revealing oxygen masks; reach up and pull a mask towards you. Place it over your nose and mouth, and secure with the elastic band, that can be adjusted to ensure a snug fit.
The plastic bag will not fully inflate, although oxygen is flowing. Secure your own mask first before helping others.”
When it comes to business, there are two types of capital. There is economic capital and human capital.
Economic capital refers to stock, equipment and structures. If you’re a photographer, this includes cameras, lenses, studio, props, etc.
Human capital is less tangible. The most important type of human capital is education. And this type of capital is tied to you.
It’s also the one thing no one can take away. Thieves can steal cameras. Landlords can refuse to renew leases. But your knowledge will always remain … unless you have amnesia, then that’s no fun.
Increase Capital to Increase Value
While it is important to invest into new gear, remember to invest in yourself.
Do not limit your education to just exercising your craft (e.g., photography, cinematography, floral designs, etc.). Expand into different sectors that are parallel to your business.
For example, marketing is one aspect. The fact that you’re reading this blog helps, but there are other resources. Venture into business law. One fun and equally tedious topic I enjoy is accounting. Management of funds, profit maximization, tax deductions and long-term financial planning are some topics.
All in all, in a competitive world, there is much more than perfecting the output we create (e.g., photos, videos, designs, etc.). In the end, we’re still entrepreneurs.
Have a good weekend,
P.S. Remember that investing in yourself involves relaxation. A cup of tea or coffee generally does it for me.
What’s one way you enjoy relaxing? Comment below!