Podcast Summary:

This Can’t Be That Hard
Host: Annemie Tonken
Episode 364 – Keeping More of What You Make
Date: April 14, 2026

Episode Overview

In this episode, Annemie Tonken takes a deep dive into managing expenses in your photography business, building on last week's theme of pricing and profitability. She emphasizes that boosting profit isn’t only about increasing revenue—keeping more of what you already make often starts with getting strategic about what you spend. Annemie shares actionable steps to evaluate and trim expenses, filter costs through the lens of your business model, and systematize your money management to strengthen your bottom line.

Key Discussion Points & Insights

1. Profitability: The Other Side of the Equation

• [00:17] Annemie reminds listeners that "profitability isn't just about what you charge. It's about the whole equation, which is revenue minus expenses."
• The episode's core message: Often, the fastest way to improve profits is to spend less, not just earn more.
• Cutting expenses requires strategy and caution—cutting too much or the wrong things can hurt your business and burnout you.

2. Step One: List & Categorize Every Expense

• [02:11]: "You cannot manage what you don't measure or what you don't pay attention to. Right?"
• Gather all business expenses from the last 6–12 months (or start with 3 months and expand).
  • Use business-only bank accounts and credit cards to make this task easier.
    – If you don’t already have these, Annemie issues a call to action:
    "Pause the podcast and call your bank ... open a new account ... this shouldn't really cost you anything." [03:12]
• Categorize each expense as you list it:
  • Software, equipment, outsourcing, education, marketing, insurance, etc.
  • Don’t ignore the small stuff—little expenses like coffee with clients or random office supplies add up over time.

3. Filtering Expenses: What Do You Actually Need?

• Filter 1: Does it match your business model?

  • Annemie revisits her signature three-model system:
    • Unicorn (luxury, high-touch): Can’t cheap out on premium branding, packaging, client gifts, etc.
    • Donkey (high volume, efficiency): Invest in tools that save time (ads, automations); skip luxury extras.
    • Workhorse (in between): Expenses should align with what differentiates you in a crowded market.
  • "If you give a cactus the same care that you give to a fern, it's going to die pretty quickly." [08:45]

• Filter 2: Is it an expense or an investment?

  • Annemie clarifies: Investments aren't just about direct revenue—they can be anything that saves you time or enhances efficiency.
  • "Is this just costing me money or is it factoring heavily into making me money?" [12:48]
  • Cautions against emotional purchases (like a dream lens) that don’t truly serve your business or client needs.

4. Self-Awareness & Spending Patterns

• It’s common to misjudge the value of certain purchases (e.g., unused presets, coaching programs that don't fit).
• Advice: "Don't beat yourself up ... but certainly note where you tend to make mistakes." [16:25]
• Recognizing where your personal temptation lies (gear, education, software, etc.) helps build better habits.

5. Don’t Starve Your Business

• Annemie warns against extreme expense-cutting, especially after the slow season:
  • "You can't starve your business and expect it to perform for you." [18:30]
  • Essential tools—good systems, quality software, education—may seem expensive but are crucial to efficiently serving clients and growing revenue.
• Cut waste, not essentials: If you start doing everything manually, you risk burnout, errors, and a poor client experience.

6. Systematizing Expense Review

• Set up a system (spreadsheet, airtable, accounting software, etc.) to track all recurring expenses.

• Annemie highlights her own approach:

  • "In the photographer's business dashboard ... one of the tables ... is a subscription table where you enter all of the subscriptions ... and then you get automated reminders when the payments are coming up so that you can decide, like, is this something I want to keep?" [20:55]
  • This one habit has saved her thousands by preventing waste on unused subscriptions.

• Review Regularly:

  • Schedule time (ideally monthly, at least quarterly) to update and assess your expenses.
  • Ask: Am I still using this? Is it delivering value? Does it still fit my business model? Could I pay less for the same result?

7. Business Expenses: A Moving Target

• Expenses will—and should—change as your business evolves, your model shifts, or new tools/technologies become available.
• "Your business is a living, breathing thing ... and your expenses shouldn't be [static] either." [23:00]

Notable Quotes & Memorable Moments

• "[...] sometimes the easiest way to make more money is ... spending less money. However, figuring out where to cut expenses really requires strategy and thought." [00:42]
• "[...] you cannot manage what you don't measure or what you don't pay attention to." [02:13]
• "If you give a cactus the same care that you give to a fern, it's going to die pretty quickly." (on matching expenses to your business model) [08:45]
• "Is this just costing me money or is it factoring heavily into making me money?" [12:48]
• "Don't beat yourself up ... but certainly note where you tend to make mistakes." [16:25]
• "You can't starve your business and expect it to perform for you." [18:30]
• "[...] build this review into your calendar, put it on your schedule, make it a regular part of how you run your business." [23:15]

Action Steps: Practical Application

1. List & Categorize Your Expenses:
   • Pull statements for the last 3–12 months and log every business-related charge.
2. Run Each Through the Two Filters:
   • Does this expense match your business model?
   • Is it an investment (saves time/makes money) or just a cost?
3. Identify at Least One Expense to Cut or Reduce:
   • Cancel, downgrade, or sell at least one thing that doesn’t serve you.
   • Put any money saved into savings, taxes, or slow-season funds.
4. Systematize:
   • Establish a tool or spreadsheet to review and update expenses regularly (monthly/quarterly).

Looking Ahead

Next week’s episode focuses on increasing revenue per client without raising your session fee—specifically, strategies for revenue stacking and price tiering, featuring interviews with two photographers implementing these tactics. Annemie promises a more “fun” episode packed with actionable examples.

Recommended For:
Photographers and other solo business owners who feel overwhelmed with “where the money goes,” and need a simple, step-by-step approach to keeping more profit—without harming the services and systems that make their business tick.