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From Paul Fusco's "RFK Funeral Train" project. ©Paul Fusco

Click here to see the New York Times multimedia piece, “The Fallen.”

One of the great things about working as a radio documentary/features producer at the BBC Radio is that I was never expected to treat the audience like idiots. Instead, we were encouraged to have a journalistic vision for each program and to see that vision through.

Another thing we were never expected to do was slap music gratuitously over everything. In fact you knew that there were nine million listeners who were ready, willing, and able to rip you to shreds if you bludgeoned the art of radio with such an approach — which is just a long way of saying, “Why on earth are so many multimedia journalists and audio slideshow producers slapping music over everything?” Generally it shows a lack of confidence, either in the production process or the material. Either that or they don’t think the audience can handle something that is stripped down and real.

When we admire great web design we say its “clean.” Here’s my plea: Keep multimedia clean when you have powerful audio, powerful images, and you want your audience to do some thinking. Just like this awesome New York Times-produced piece built on Paul Fusco‘s legendary photos taken from the funeral train carrying the Robert F. Kennedy from New York to Washington.

Miki Johnson: Why did you decide to participate in this year’s Foundry Workshop?

Dhiraj Singh: I had heard about the Foundry Workshop on Lightstalkers and was even more keen after I read the list of tutors for this year. However, a huge concern was finances. Since I’m a freelancer and work is sporadic, gathering finances for the workshop was nearly impossible. I had almost decided to give the workshop a pass. As a last resort, four days before the workshop, I emailed Eric Beecroft. I told him frankly that, even though I would love to attend, it would not be possible because of financial constraints. He replied immediately, suggesting I come as an assistant and be a part of the workshop. I was in Manali 48 hours later!

MJ: What was the most beneficial part of the workshop for you? What did you learn?

DS: For me, the basic multimedia approach and nuances that I picked up from Tewfic El-Sawy was the most enriching part of the workshop. The other tutors, such as Hendrick Kastenskov from the Bombay Flying Club, Ami Vitale, and Ron Haviv, also shared a great deal of experiences, which helped me reach a deeper level of understanding of photojournalism and its current stage of evolution. How to take print-based photojournalism to the next step and preparing for the online aspect of the field has been an important lesson from the workshop.

MJ: Tell me about the multimedia piece you created at the workshop.

DS: In My Name Is Dechen, I photographed the inner mind of a woman who wasn’t quite in her senses. When I saw her on my very first walk in Manali, her moods, emotions, and communication with her environment captured my interest. I bonded with her instantly. I wasn’t sure what kind of project it would turn out to be, but I just couldn’t walk away from her. She had such a lively spirit and a sort of melancholy that touched me deeply. I spent time with her for a couple days and kept shooting and recording whatever I could. At the end, editing it down was simple — with huge help from Tewfic of course!

MJ: How was the community at the workshop? Did you meet people who you’ll continue to be in touch with and who taught you important things?

DS: I certainly hope to keep in touch with the people I met at the workshop. Photojournalists are a dying breed, and keeping in touch with the few that you meet is important, especially as for me as a freelancer. These people become your motivation and your best critics. The lessons stay with you even when the camera doesn’t.

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Tristan Wheelock

I’m from Tampa, Florida, and worked at the St. Petersburg Times there. I quit my job to come to India and pursue freelance work. I’m currently based in Delhi and mainly work in multimedia. I make short documentary style projects combining video, sound, and stills using the new fancy Canon 5D Mark II.

A few months back I was reading PDN‘s 30 about photographers to watch in 2009. One of the photographers, Jared Moossy, mentioned the Foundry Workshop and how he made some good contacts there. I had never heard of it so I Googled it and it turned out that it was going to be happening in India about the same I was going to be there. It also turned out that the Bombay Flying Club guys, whose work I am in love with, were going to be teaching. It was pretty much a done deal from there.

At the workshop I met a lot of amazing photographers and saw some work that really inspired me. I learned a lot about incorporating sound into multimedia from my teacher Henrik Kastenskov of BFC. It was really great to hear what he had to say about the changing media marketplace. It was a tough week and I really felt like I pushed myself the entire time. I was working frantically right up to the deadline to get my project done. It was a challenge for sure, but in the end I was really proud of what I managed to complete.

New York Magazine last week published the most in-depth article yet chronicling the sad financial downfall of celebrity photographer Annie Leibovitz. The question on everybody’s mind is how a person who’s making an annual salary of $2-to-$5 million could run into a debt of over $24 million. The Wall Street Journal blames it on her “leverage-and-live-large lifestyle.”

In a surprising move, Time Inc. has purchased a house in Detroit to serve as a long-term base of operations while its publications document the struggle of the nation’s automobile capital. This seemingly unprecedented move will allow Time’s journalists to cover the story not only as observers, but as part of the community.

The iPhone emerged this month as the most popular camera on Flickr, ousting the long-reining top uploader, the Canon Rebel XTi. We’re not surprised considering how easy  iPhone images are to upload and the improved picture quality of the new 3GS. At the time of writing this post, the XTi has climbed back to the top of the chart, but we’re betting Canon is paying attention and expect to see wi-fi upload capabilities in their DSLRs soon.

Matt Mandelsohn’s The Lesson of Lindsay is a beautiful story of young girl struggling with personal tragedy. The fact that the piece was turned down by every potential publisher, one because they wanted “happy” news stories, is just a tragedy. A Photo Editor boils it down to the “duh” soundbite that publishers still refuse to listen to.

From Doug's "Heaven, Earth, Tequila" project, which was a commission as well as a book and exhibition, with prints like this one now for sale on his website. ©Doug Menuez

So far in this column I have touched on general issues of starting a photography business. Now we’ll explore the mystery of profits. If you want to make a profit, stay in business, and retire some day, you need to know your break-even point. Break-even is reached when your income is equal to all your costs: production, marketing, fixed overhead, taxes — everything.

Why is this useful to know? Because every decision you make impacts your costs and/or potential revenue, so you should be evaluating all options in the context of your cash flow and whether you will make a profit. When you print a new portfolio, buy a camera, or advertise in a source book, you are taking a calculated risk that these expenditures will yield jobs and revenue. If you can’t do the math and actually calculate that risk, it’s just risky.

Most of the photographers I know take every job they can, happy to be working and oblivious to the fact that some jobs cost them more money than they will earn. This happens because they don’t know their break-even and are not factoring in all their costs.

You simply must know if you can even afford to take a particular job before you consider it. Sometimes photographers take a loss for a great assignment that will help the portfolio. But if you rationalize a low fee because the job makes you feel better, or think it gives you momentum, think again. Sometimes we are asked to do a job as a favor with the promise that next time we’ll be paid properly. I can pretty much guarantee you that this promise is a lie 99 percent of the time. Especially in this economy.

You can go out of business in a hurry working under the illusion that being busy is the same thing as making a living. More likely you are just churning and burning resources without getting ahead. If things slow down, look out. Instead, be strategic. Your goal should be to make a profit to provide financial security and funding for future creative endeavors. Therefore, each job you accept should fit into what you defined in your business plan.

The next step is to understand your profit margin. This is where you can really refine your goals, focus your mind, and get the business in gear. This often-ignored tool is simple: profit margin equals your net profit after taxes divided by total revenue.

Say your net profit is $30,000 on $300,000 of revenue. Your profit margin is 10%, not so great. Average business margins are around 30%. With that knowledge, you know it’s time to cut overhead, raise your fees to earn more, or both. If you regularly check yourself against an ideal profit margin, you are utilizing a potent tool to analyze your business costs. Now you are starting to take control of your own destiny.

Let’s break it all down another way: Say your total yearly overhead at the moment (Fixed Expenses + estimated Cost of Goods Sold + estimated taxes) is in fact $300,000. That is the minimum amount you have to earn to break even. Now look at your income and how it is billed. If you bill per ad, and you’re getting an average of $10,000 per ad for usage fee, and you shoot about two ads per month, your total annual income is $240,000 — and you are losing money.

Until you do this math you probably think you are skating by because the checks are coming in. You are short and late on some bills, but you are working. But by not making a profit, you are actually way behind and won’t last long. You shot 24 ads at $10K each, but you need to do 30 ads at that rate just to break even. To make a profit you’ll need to significantly cut costs, raise your rate, or both.

Based on your break-even today, and considering your market, forecast a number of jobs for the year that seems conservatively realistic and how much you’ll need to charge to arrive at a 30 percent profit margin. Carve that in stone or on your forehead and aim for it. Now you can be strategic about every job you accept and every dollar you spend. You can keep track of your progress easily and push yourself and your team toward that goal. Profit. Make it part of your plan.