It has many “ups and downs”.
Having been a wedding/portrait photographer for over 40 years I have learned to understand the value of taking time to work ON the business rather than just IN the business. Now as a photography business coach, I have discovered that there are four main areas in running a successful wedding and portrait business.
These are Positioning, Products, Pricing and Selling.
Here are 8 more key areas to work on to re-evaluate your business to help it grow.
1. Market Continually.
Committed to owning and running a business you must be committed to the marketing and selling
the products and services of that business. It is very difficult, if not impossible, to be profitable
without a strong commitment to continually marketing your product or service.You should implement
some form of Marketing Plan that includes doing something every day towards getting more customers
to your business.
2. Keep Your Costs Low.
Constantly assess your business expenses to find ways to reduce costs. Always negotiate with your suppliers,
for a lesser price. Money saved is money made. Don’t waste money on glossy, slick marketing materials
and expect customers to flock to you. Marketing materials should reflect your Brand and be of good quality,
and only used in conjunction with more effective forms of marketing such as networking, and setting up
Third Party Alliances.
3.Have A Good Sales System.
When we think of selling, we think of having to be pushy or dishonest. Having this attitude, allows many
profit-producing opportunities pass us by. If you find it difficult to “ask for the sale”, you can be sure that
you’re not bringing in as much money as you could be. Practice asking for the sale. Write your approach down
if you have to. Learn to handle any objections confidently.
4. Don’t Use Outdated Business Plans.
You must have heard the old saying that if you keep doing what you are doing you will keep getting the same
result. If something isn’t working in your business, then it’s best you look for a different way of doing it.
A good business owner has a mindset that is always challenging the way things are done in the business.If you
are serious about improving your business’ profitability, then taking action on these areas will help you make
more money.
5.Get Help If You Need It.
Most business owners have strengths and weaknesses. Sometimes the business owner often works in the areas
that they aren’t strong in. This not only builds inefficiencies, but potential loss of income in the business.
Don’t struggle on trying to do the stuff that you don’t do well. Every day with your business not running at
maximum efficiency, of course means dollars lost. Get a professional to help you sort out how to run your
business most effectively.
6. Use Your Existing Customer Base
Research shows that it is easier and cheaper to keep working with customers you already have, than to get new
customers into your business. If you are not following up with past customers on a regular basis, you are reducing
your profitability potential. Use automated email Marketing software like iContact and MailChimp.
7. Don’t Waste Time on Doing the Insignificant Tasks.
Every business owner knows that they waste a lot of time doing the wrong things. Don’t spend your day doing tasks which you could outsource. The best activity that you can participate in, is bringing in new business in the door.
8. Charge The Right Prices.
Working out the right prices that you should charge can be difficult especially to those in the service industry.
We often worry more about what competitors charge, that it deflates our enthusiasm in bringing more money into the business. You may feel embarrassed to ask what you are worth, and don’t value your time. You don’t have to justify any increase in your fees. One of the things I teach as a photography business coach is to review prices is a normal business practice,and contrary to our fears, the customer may willingly pay the increase. Sometimes a fee increase can attract a better class of customer.
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