Do You Feel Guilty Making A Massive Profit?
Your photography business is about making money.
There I’ve said it!
In fact ANY business is about making money….as much money as possible.
Do you limit the amount of money that you want to earn?
While giving a presentation to a group of photographers in Atlanta Georgia recently, I asked a photographer how much he wanted to earn?
“70,000 dollars” was his reply.
“Why 70,000 dollars” I asked?
He replied “Because then I would be happy”.
I know that there is a perception within the photography industry that earning $70,000 a year would put a lot of photographers in a happy place.
From my perspective as a photography business coach, the reality is that any photographer who is willing to work hard on doing the “right” things and has time to implement solid Marketing strategies, can earn many times this amount.
I have said countless times before that your photography business is all about numbers.
But there is only one number that matters at the end of each financial year, and that’s the amount of Profit that you made, or the amount of loss that you made.
To achieve a Profit there are a few basic business fundementals that you should do.
Minimise all of your overheads.
Get Portrait and Wedding clients to pay up front.
Prepare for the quieter months by having money in the bank.
Keep adjusting your pricing to ensure that you are maximising every sale.
Constantly change your photography to separate you from competitors.
Target your Marketing to get the right customers.
If you employ staff make sure you know how much they are actually costing you.
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More On Growing Your Photography Business
Rants Raves and Myths in The Photography Industry
How To Market Your Photography Business
How A Single Mum With 5 Kids Went From Broke To Making Over $1000 Per Photo Shoot
Getting Clients In The Door
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