I wrote this post for photographers considering getting into the business of photography. It outlines key questions to ask when you are getting up and running. This week I have spoken with two readers of Beyond Here who are in the early stages of their photography businesses. It prompted me to consider other questions which you should consider when you are starting out. Here are 7 more questions for photographers going into business.
1. What does success look like? To know how you are going you first need to decide what success looks like. To do that, I suggest you break it into 3 sub questions.
1a. What income do you want to generate? This is the financial measure of how the business is performing. It gives you a point to focus on. Regardless of how busy you are, and whether you are enjoying the type of photography you are doing – this measure answers the question – is my business financially successful? An example might be – in you first year of operation you would like to make a profit (revenue less costs) of $30,000.
1b. How do you want to spend your day? Think about what balance you would like between shooting, editing, marketing, delivering product, taking time off, having a holiday and other responsibilities in your life. This question will determine whether your business is meeting your lifestyle needs.
1c. What type of photography work do you want to do? This is a really important question. It will help determine whether your business is meeting your artistic need.
Let’s take an exaggerated example. Imagine you got into business because you love landscape images. Then you are asked to shoot a friends wedding. You do a good job and referral business rolls in. Soon, you are spending 2 weekends per month shooting weddings when you got into business to enjoy the great outdoors and shoot nature images.
Determine the type of work you want to be doing to help you stay focused.
It’s okay for a landscape photographer to shoot an occasional wedding – just don’t let those occasional jobs take over your business.
2. What does your ideal client look like? Define what type of client you are looking for and your marketing will become more focused and effective. Consider the difference between – ‘my ideal client would like family portraits’ with ‘my ideal client is a family. The parents are in their thirties and work in professional roles. They live in an upper-middle class area in the eastern suburbs. They own their own home and appreciate the value of fine family portraits to hang on the walls. They have 2 children, one in primary school and one in pre school.’
3. What hours are you prepared to put into the business? This is where the line between hobbyist and business owner becomes clear. The successful business owner is clear on the number of hours they are prepared to put into the business – and will work those hours even if they “don’t feel like it”. The hobbyist will focus on other activities until their ‘phojo’ comes back. That’s not a criticism of the hobbyist – its that the business success is very important to the business owner and they are prepared to keep working at it.
4. How much do you need to charge per job? This is a simple calculation but is often overlooked. If you are planning to generate an income of $2500 per month and anticipate shooting 10 jobs per month – you need to charge enough to make a profit (revenue less expenses) of $250 per job. Yes, the calculation is that simple. Make sure you do it.
Getting started in a photography business is a very exciting time. If you are clear on the answers to these questions you are well ahead of most. At this early stage of your business its about being clear about what success looks like and having goals to keep you focused. Thanks for reading 7 more questions for photographers going into business. Go find some of those ideal clients!