Category Archives: Business Tips

Tips for your photography business

Developing Multiple Photography Income Streams

Reflecting on the week that has just passed, I’m feeling grateful for the range and variety of activities my photography business offers. I don’t like shooting the same type of thing all the time, and this week confirmed for me that I’m making strong progress in developing multiple photography income streams. Let me tell you about that range of activities and see if it is relevant to your own photography business.

So, here it is – the week that was – and the 7 different income streams it produced.

Income Stream 1 – Wedding album. Just before Christmas I shot a lovely church wedding for a couple in Melbourne, Australia. Since then I have delivered their images and canvas prints, and this week I designed their wedding album. I’m pleased to say that this couple are doing it right – they have ordered an album for themselves, and one for each of their families. That’s three albums in total. I’m looking forward to delivering them soon. Developing multiple photography income streams takes time, but this type of printed product (wedding albums) is an obvious extension to my core activity of wedding photography. Do you have the opportunity to add printed products for your existing clients?

(To see more images from this wedding please visit my website at Craig Dingle Photography.)

Can you create an additional income stream by providing printed products for existing clients?

Income Stream 2 – Corporate Portraits. This week I shot corporate portraits for a local businessman. He is starting a new role and needed images to be added to the company website. I shoot these in my home studio which makes it an easy and convenient job. Does your business come up early in the Google search results for photographers in your area? Do you have resources (like a home studio) that can be used for extra shoots like this? Can you make yourself available at short notice to meet the needs of a client like this?

(If you are interested in creating a shooting space at home, please read How To Build a Home Photography Studio).

I shoot both corporate portraits and product shots in my home studio.

Income Stream 3 – Product Photography shoot. I don’t do many product photography shoots, but I have one client (who I met at a wedding) who regularly asks me to shoot images for their website or for advertising purposes. Often it is a short notice request – like this week’s shoot. They needed a small range of images for an advertisement they are preparing. I don’t get a lot of excitement from shooting products, but I like this client a lot, and I appreciate the regular work which comes from them. Are you cultivating regular clients who know they can rely on you?

Income Stream 4 – Uploading Stock Images. I shoot and upload stock images on a regular basis, and although this has been a quiet week, I have been uploading images from a recent shoot. This doesn’t produce any income today, but builds my stock portfolio which will produce an income for years into the future. Can stock photography form part of your business income? Can you utilize down time to build your portfolio and generate a future income?

(I am a strong believer in stock photography to produce a regular income for photography businesses. Read more about that in Why I Shoot Stock).

Adding to my stock portfolio helps create a future income stream

Income Stream 5 – Editing Images. This week I was asked by another photographer (and reader of Beyond Here!) to assist with editing her images. It was in a style, and with a tool, which she was not familiar with, and so I have edited the images for her. This is the first time I’ve generated income by editing images for another photographer. I don’t see myself doing this often, but I appreciated the chance to help another photographer deliver a quality outcome for her client.

Income Stream 6 – Selling an E-book. If you are a regular reader of Beyond Here you will know that stock photography makes up a significant part of my photography business income. I wrote an e-book called Build a Five Figure Income in Your Spare Time to encourage photographers to get into stock photography. I have priced this very affordably, and it is regularly downloaded by people wanting to generate an income from stock photography. I had one sale this week, which made a small contribution to the week’s income.

Income Stream 7 – Selling Stock Images. In Income Stream 4 I covered the work I did this week uploading new stock images. They are unlikely to be downloaded immediately but will produce an income in the future. In the meantime, the 8500+ older images in my stock portfolio will continue to be downloaded and produce an income today. While the income per download is small, it is encouraging to know that buyers are purchasing my stock images every day.

So that is ‘the week that was’ in my photography business. It produced 7 different income streams. I hope that reading Developing Multiple Photography Income Streams has given you some ideas for your own photography business. Happy shooting!

8 Steps to Start Your Freelance Photography Business

Today’s post comes from guest poster Kylie Glover. Connect with Kylie on Twitter. Kylie is based in Sydney, Australia and writes about small business for Authorflair from her personal experience. She has been part of successful start ups in Australia and New Zealand and is motivated to share her insights and writes for several publications in Australia and abroad. Thanks for your contribution to Beyond Here Kylie. Here are 8 Steps to Start Your Freelance Photography Business.

They say a picture is worth a thousand words, and when it comes to freelance photography, it couldn’t be more true. It’s easy to forget that behind every stunning shot of the sunset washing over the Golden Gate Bridge, there’s a shutter, lens and focus working in synergy to faithfully capture the moment. One photo could be the difference between whether someone decides to jet set halfway across the world to one destination or to another.

Sunrise Here are eight considerations that will help you get your feet off the ground when it comes to kick-starting your freelance career.

Step 1 – Start Planning Your Business

“by failing to prepare you are preparing to fail” – Benjamin Franklin

Before your photos feature on the front of Lonely Planet, it’s important to visualise the steps you’ll need to take to get there. In other words, planning is a must. To make sure you’re thoroughly prepared, consider things like basic start-up costs, and scope out the market to check how much other photographers typically charge so you can set competitive pricing.

Will you give clients the option of giving deposits, or will you expect a full upfront payment? Will you deal in cash, or accept credit card payments? What are the risks associated with each of these decisions?

Step 2 – Establish Start Up Funds

Unless you’ve a hidden pool of money ala Scrooge McDuck, it is a wise idea to make a small investment. This usually occurs when small businesses set up bank loans, but let’s say your application with the bank is rejected, or you want to explore the market. There are plenty of other methods to kick-starting your dream.

One increasingly popular method of fundraising in today’s digital world is online crowdfunding, through platforms such as Kickstarter, GoFundMe, and Indiegogo. The idea behind these services is pitching your project to the public, and placing your trust in them to determine whether it is something worth paying for.

Step 3 – Figure Out What Tools You Need

Pro photography gear is a substantial investment, to create high quality shots that stand out from the crowd, you’re going to need some high end equipment and a good basic knowledge of photography. An artist is only as good his tools, so break down all the essentials from tripods, lenses, and filters to top editing software. Sometimes it might be tempting to go for lower price range equipment, but in the long run it could very well end up costing you more. The most important thing of course is the camera itself. Check out travel blogs, books and magazines, and decide which style suits you best. Then hunt down the camera used to take those pictures, and get snapping.

Step 4 – Editing Your Shots

So you’ve taken that perfect shot of the Eiffel, and it’s ready for publication. Well, almost. The next steps include enhancing the photograph by warming/cooling the image, sharpening/blurring key areas, heightening the intensity of various colours and whatever final touches you feel give your work an edge. You might already be familiar with some basic editing techniques, or even the majority, but newer versions of favourite software programs release almost every year, offering updated versions with more powerful editing abilities. Well known photo editing software programs like Adobe Photoshop or Corel’s PaintShop Pro have affordable one-time purchases that are great for when you’re starting out.

Step 5 – Legal Lingo

One of the most important things to get on top of well before you’re in operation is safely navigating through any legal requirements first. After you’ve finalised your business plan, it’s time to pick your business structure. Are you a sole proprietor, or a corporation? Do have a partner going into this business? Next, come up with an available business name and register it. Lastly, don’t forget about tax obligations! Your accountant is your best bet for assisting you with that and making sure you don’t attract any unwanted fees.

Step 6 – Getting the Right Insurance

Photography is an art form, so naturally, you must organise insurance for both your product and equipment, but make sure you also insure for any unforeseeable/accidental injuries. These are generally covered under general/public liability insurance, which will act as your legal buffer when things go wrong. If you’re thinking of handing over the business somewhere along the line, you might want to consider life insurance, too.

Step 7 – Don’t Sell Yourself Short

Rule of thumb says most businesses won’t really take off until the three-month mark. Within that timeframe, you’ll need to spread the word about your product and convince the world about why it’s so great. Should you immediately lower your pricing if clients don’t bite?

Absolutely not. Apart from web and radio ads, a tried and true method for boosting sales is incredibly basic: word of mouth. Establish meaningful relationships with your clients, and show them you are very passionate about delivering the best quality photos. Finally, believe in your product.

“What a man thinks of himself, that is what determines, or rather indicates his fate “- Henry David Thoreau

Step 8 – Be Inspired

Inspiration is often depicted as a fleeting, curious phenomenon and has become the subject of many books and presentations over the years. The truth is, there’s no secret, everlasting well of inspiration that somehow runs dry. Inspiration for the perfect shot can be found anywhere, anytime.

As humans, we place a lot of undue pressure on ourselves to achieve constant perfection, and thus may not take risks because we are afraid of ‘failing’. When you feel seeds of doubt start blossoming.

“Inspiration exists, but it has to find you working” – Picasso

Launching a new business can be a frightening prospect, especially when it centres around your greatest passion. But with the proper legal and financial planning, adequate preparation of equipment, and enough self-belief that your product is worthy, the road to success is well within reach.

Thank you again Kylie for your contribution to Beyond Here. These 8 Steps to Start Your Freelance Photography Business will set people off on the right foot!

Five Reasons to Start Your Photography Blog Now

As photographers we’ve all heard that writing a blog is an excellent way to promote our work and connect with potential clients. Yet many photographers have put off starting their blog, finding all sorts of excuses and other priorities. We are all busy and it is easy to fill the day with editing images, contacting clients, and updating our social media profiles. If you know that a blog would benefit your business but have been putting it off – read here for five reasons to start your photography blog now.

Before we start, let’s clarify. I’m not going to tell you why blogging will be good for search engine optimization or where your business appears in Google searches. I’ll leave that to the online marketing experts. I’m going to give you five reasons to start your photography blog now which are good for you, the photographer.

Reason 1 – A Photography Blog Brings Focus to Your Online Activity

In today’s online, connected world it is very easy to spend hours online on a range of different activities which really don’t do much for your photography business. Think about it, how much time have you spent updating images on your facebook profile, adding images to your Instagram account, and otherwise just browsing what other people are doing online?

Writing a photography blog can transform the time you spend online by bringing focus to your activity. If you are wedding photographer writing a blog about wedding photography, you are likely to waste less time online and spend more time writing about wedding photography. There’s a benefit for you! You will spend more time focused on your area of expertise by writing a photography blog. Winner!

A photography blog will help bring focus to your online activity

Reason 2 – A Photography Blog Provides You a Target Audience

The second of the five reasons to start your photography blog now is that writing a blog means you have a target audience.

If we use the wedding photographer example again the blog is likely to be targeted towards engaged couples or other wedding photographers. Each would produce a different focus and a different approach to writing. In the case of engaged couples, a photographer might share key insights for brides and favorite images of each wedding. This will be useful for potential brides as they get to learn from the photographer’s experience and see how other brides approached their wedding day. In the case of other photographers, the blog might discuss overcoming lighting challenges in candlelit churches or tips for managing workflow to ensure images are delivered on time.

The blog content will be very different depending on which target audience you choose – but like the first reason – having a target audience will bring you focus. And having focus means your online presence will, in time, produce content which benefits your business.

Is a blog the missing piece in the puzzle for your photography business?

Reason 3 – Writing for Your Blog Forces You to Learn Lessons

Reason 3 is self explanatory. Since starting my own blog, each time I have something go right or wrong I am very conscious of the lesson which comes from the experience.

Why is that? Well, if I am going to share it with the readers of Beyond Here, I will need to describe what happened as well as how it might be a learning for my readers. And why is that good for me? It’s good for me because it forces me to learn the lesson and apply it to my own photography business. Let me give you an example. I wrote a blog post for Beyond Here called Tips for Building a Strong Stock Photography Portfolio. Just the act of writing that post forced me to assess how good a job I was doing implementing the tips. And that will lead to different content being added to my stock photography portfolio in the year ahead. Writing the blog post helped me to learn the lesson and apply it in my own business.

Reason 4 – Producing Images for Your Blog Can Super Charge Your Creativity

Reason number 4 is something I learned from another photographer. She is a long term, successful wedding photographer with a large number of happy clients.

She found that when she started posting images to her wedding photography blog that many of her key images were very similar to images she had produced in the past. She had taken her successful formula and was repeating it. There’s nothing wrong with doing that, but she found that she was in a creative rut where she was reproducing successful images rather than finding new and creative ways to shoot. Interestingly, she never got this feedback from her clients – she discovered it herself by looking at the images she was posting to her blog. Fascinating!

Reason 4 to start your photography blog now is that you will get feedback from your readers, and from yourself, which can super charge your creativity. No more shooting similar images, now there is a challenge to produce better, more creative work.

A photography blog can help you break out of a creative rut

Reason 5 – Writing a Blog Drives You to be Productive

The final of the five reasons to start your photography blog now is that writing a blog drives you to be productive. Nothing is more depressing than reading a blog and suddenly realizing it hasn’t been updated for a year. A commitment to a photography blog is a commitment to your readers to add content regularly. That commitment drives you to be productive. It drives you to produce content for your target audience when it would be easier to browse online. Writing a blog drives you to be productive and that’s good for you personally, and will ultimately be good for your business.

Thanks for reading five reasons to start your photography blog now. Happy blogging!

Four Year End Ideas to Make Your Photography Business Stronger

As we approach the end of the calendar year I am coming to the end of a busy three months. Normally in the week before Christmas things start to slow down. Prints and products have all been delivered well in time for Christmas, and my wedding work takes a break for a few weeks.

This year I’m shooting a wedding on Christmas Eve, which is unusual, but with all of my client Christmas orders delivered I am starting to unwind and expecting to have a quieter few weeks. This time of year is ideal for assessing what your business has achieved for the year, and to plan for next year. To help with this, here are four year end ideas to make your photography business stronger.

Is your first move of the new year to renegotiate with suppliers and immediately boost profitability?

Business Improvement Idea #1 – Analyse and Negotiate with Suppliers

In the majority of photography business tips I read there is a never ending debate about photographers needing to raise their prices. Then there is the inevitable push back from some photographers who fear their work is not worth the higher prices, or that their clients will suddenly vanish. In 20+ years in the business world, I’ve learnt that the quickest and most effective way to increase business profitability is to reduce expenses.

Looking at my own expenses this year I see I have ordered 65 canvas prints for the year from 3 different suppliers. I’m currently paying the same price per canvas print as someone who only orders only 1. In January I will be speaking to my preferred supplier (of the 3) to see if they can offer me a special rate, fixed for the year, to reflect the volume of canvas prints I plan to do with them. The savings will be an immediate benefit to the profitability of my business.

Have you looked at your expenses and found areas for savings? Can you negotiate with a supplier for a better deal?

Business Improvement Idea #2 – Invite a Trusted Friend to Review Your Business Operations

One challenge in running a photography business is that you can be so close to the operations that you can no longer see the strengths and weaknesses. By inviting a trusted friend to review your business operations you have the potential to see things more objectively than you can on your own.

Don’t ask them to review the quality of your work – just ask them to look at the business operations and offer feedback for improvement. It could be as simple as them saying – “I see expenses have increased 8% while you revenues have only increased 2%” to focus you on addressing issues you couldn’t see yourself.

A trusted friend can help see your business in a new way

Business Improvement Idea #3 – Killers not Fillers

There are only 2 key criteria your potential clients will assess you on when considering which photographer to hire. The first is your reputation, and the second is your portfolio.

It is the portfolio which is easiest to influence and is worth continually assessing. We all like to include work in our portfolios which is meaningful to us or comes attached to special memories. But a potential client is not aware of this. They are only assessing what they see. Make sure your portfolio is the strongest it can be. Display only your strongest images. Ensure your portfolio is full of killers not fillers.

(If you are reading this and expecting to see price as a key consideration from a client – price is an important consideration, but not as important as reputation and portfolio. If it was, the cheapest photographer would get all the work.)

Showing only your best work is very important. Please see this post on Doctrine of a Successful Pro Photographer.

A potential client’s decision will be driven by your reputation and the quality of your portfolio

Business Improvement Idea #4 – Streamline Paperwork Which Slows You Down

It seems incredible in today’s digital world that there can still be any paperwork! My business still has plenty and it has the potential to distract you from your main purpose – meeting the needs of your clients.

As we come to the end of one calendar year and the beginning of a new one – consider, are there any paper based processes which you can streamline? The objective is to create more time for client related activities, and to spend less time on administration.

Thanks for reading four year end ideas to make your photography business stronger. I hope they have been useful to you, and will give you something to consider over the holiday period. Merry Christmas!

Doctrine of a Successful Pro Photographer

I have the good fortune to speak with a large number of pro photographers. Sometimes it’s helping with the business side of their photography, sometimes it’s at industry events, and often it is simply in a social setting. Those discussions give me a lot of content to share on Beyond Here, and in this post I share the doctrine of a successful pro photographer. If you are a pro photographer or an aspiring pro, these points should give you goalposts to measure your progress and assess the next step forward.

Doctrine of a Successful Pro Photographer

Know Your Gear. Put very simply, pro photographers have the equipment for the job and know how to use it. This knowledge means they know they can get the job done, and even if something goes wrong on shoot day – they know their gear well enough to be able to meet the client’s needs.
The successful pro photographer shows only their best work
Aim for Genius. Here’s an ambition! Successful pro photographers don’t just want to grind out another job and get paid. They want to exceed the clients needs and break new ground themselves. Every shoot is another opportunity for their best shoot ever. The doctrine of the successful pro photographer means they must keep pushing forward. Ok is not good enough. Raise your standards. Aim for genius.
Be Ethical. The successful pro photographer knows that life as a photographer is both a career option and part of their being. By default, they plan to be in this business a long time. This is not a summer job, this is their life. They know they need to deal ethically with everyone they come in contact with. Always.
Back Up. The successful pro photographer knows that shooting, producing and delivering great images is part of the job. There will be times when clients lose files and need help. Living the doctrine of a successful pro photographer means organizing files and backing up so they can be found when they are needed.
Show Only Your Best Work. If you are aiming for genius you will show only your best work. Being a successful pro photographer is not about sharing the most work, it’s about sharing only your best work and showing potential clients what you are capable of. Don’t be tempted to share anything less than your best.
Doctrine of the successful pro photographer. Know your worth. Every job has a price you won’t go below.
Know Your Worth. Number 6 is what sets the successful pro apart from the successful non pro. Pro photographers know what their time and skills are worth. Often that is built on having dealt with a lot of clients over a period of time. Successful pro photographers typically have some flexibility in their pricing structure to meet their clients needs – and they all have a clear picture about the price they will not go below. Know your worth.
Know Your Client. Successful pro photographers know their worth and they also know their client. More importantly they know who is not their client. A high end wedding shooter knows that if a potential client’s first question is about budget they are unlikely to be a suitable client for them.
Stand Out. Successful pro photographers are not run of the mill. They stand out. They build a reputation. They continue to work on their art and evolve over time. What was excellent this year, will be so-so next year. The doctrine of a successful pro photographer is continuing to strive to stand out. This process never ends.
Keep Learning and Evolving. To aim for genius and to stand out mean the successful pro photographer must keep learning and evolving. Photography is an art that is never mastered. There is always something new to learn or a new piece of equipment to master. There is a new way to see and to express. Keep learning and evolving. Keep shooting. Keep breaking new personal frontiers.
Be Authentic. Successful pro photographers know that their business is about producing great images and experiences for their clients. It is not about the photographers ego or desire to look good. To that end, successful pro photographers are authentic. There is no pretense. They are genuine and authentic in their desire to serve their customer and at the same time express their artistic vision.

Thanks for reading the doctrine of the successful pro photographer. How are you measuring up to these 10 points?

How Not to Run Your Small Business

I love to share good news stories and experiences to help us run our businesses better. This week I’ve got a bad news story to share. There are lots of lessons to learn from this one – and they are all about how not to run your small business. (I’ll try to focus on the lessons and avoid a rant!)

I am currently planning a stock photo shoot where I need an environment that looks like a shared working space or creative collaboration area. (It’s a concept shoot for my stock portfolio with iStockphoto and Getty Images). I have researched possible locations and have found a venue which looks suitable. It is a studio space in downtown Melbourne, Australia which has two large studio areas and a rooftop outdoor space. It looks very cool and I could imagine it as a creative collaboration area or even as a workspace for a funky advertising agency. I was impressed that they also have a range of tables and chairs and props which could make it look like an active work space, and flexible enough to look like a café.

Here’s where my problems started and the lessons for how not to run your small business begin.

In small business, you are at the center of customer service

My first step was to call the studio to arrange a time to view the space. I was going to be in the area last Friday and wanted to visit. So on Tuesday I gave them a call. The only contact number on the website is a mobile number. I called. There was no answer. There was no option to leave a message. I thought that was odd, but I pressed on. I went back to the website and got the email address. On Tuesday afternoon, I sent an email to the only email address listed on the website.

I didn’t expect an instant reply to my email, but by Wednesday night I was wondering if they had received it and if they were going to reply before Friday.

I have been following this studios posts on Instagram for several months and was encouraged when they added a new post on Thursday. I sent them a private message on Instagram asking if it would be possible for me to visit them on Friday.

By Friday, I hadn’t received a reply to my email or Instagram message, but I was in the area and decided to visit them. Again I drew a blank. At 10.30am the studio roller door was down and there appeared to be nobody around.

As I’m writing this post it is Tuesday afternoon, one week after my first attempt to contact the studio. I haven’t had a reply to my email or Instagram message.

So, what could possibly explain what’s going on for this studio? I’m assuming it can only be one of two things. First, is that business is so good and they are so busy that they have not got back to potential clients. It is a busy time of year and it is possible that they have lots of bookings prior to Christmas. The second possibility is that business is terrible and they have more pressing issues than getting back to a potential client. Who knows, they could be in financial trouble? Or be about to shut down? Or a key person may have health issues? Or there may be other issues that I know nothing about which means they haven’t got back to me? Who knows.

service So, what are the lessons we might learn from this? I’ve come up with five. If you have some to add, or want to share your own experience please add some thoughts in the comments section below.

Make sure website details are correct and up to date. I wondered if they had mis-typed their own phone number and email address? That sure would have an impact on the number of bookings they get.
If there are special circumstances, let your clients and potential clients know. I assumed this was a poorly run business with no focus on responding to clients. But maybe that’s not the case. Maybe it’s a one person business and they have a sick child? or a major health issue? To avoid clients thinking the worst – keep them informed. Let them know via your website or phone message or auto reply from your email that they are currently experiencing special circumstances.
Clients expect you to respond promptly. Make doing this a priority. I thought the idea of contacting the studio on Tuesday and visiting on Friday was giving them lots of time. (I have some clients contact me today and want to visit same day!) Given the ease of electronic communication clients expect a prompt reply. Set aside time in your day to get back to people.
Word of mouth is a big influencer. Unfortunately I’ve already told this story to several people. It’s annoyed me that I thought I’d found a great location and I haven’t heard back from them. The studio might be getting an unfair wrap, but I’ve shared my experience with other photographers and I know it will influence their choice of studios in the future. Reputation is important. Word of mouth – good or bad – is influential. Do everything to make the word of mouth feedback for your own business positive.
Doing the basics well is important. Many, many small businesses are built on providing excellent customer service. Excellent customer service does not have to be fancy or special. Often it is about doing the basics very well, every day of the year.

Thanks for taking the time to read how not to run your small business. If you have an experience to add for other readers, please use the comments section below. And to finish this post on a high, please read this post about a great customer experience I had.

How to Drive Change in Your Photography Business

I have been working with photographers wanting to make a step change in their business. Three of them are running existing businesses and one is starting out. All four are clear that they want to change and want to see change in their business, and have struggled to make that happen. That has lead to this post – how to drive change in your photography business.

For change to occur, research says you need three elements. They are:

A picture, or vision, of where you want to get to
An understanding of what pain or discomfort you would feel if you didn’t achieve that
Clarity about the next step

Step 1, be specific about your vision. It will bring focus to your business and your actions

So, how to we use this to drive change in a photography business? We work through each step to provide direction to our business. If we haven’t been able to turn that into action and change yet, then we needed greater detail.

Let’s look at each.

Firstly, building a vision of where you want to get to. In this step it’s really easy to be vague. If you are serious about change you need to be specific. For the photographer just starting out, she wants to be a successful wedding photographer.

That is not a vision and is not specific enough to drive towards. Work through – what does that mean? How many weddings per year? What sort of weddings? How much will you be charging? Who will be doing albums and prints for you? What does your ideal couple look like? Where do they live? What sorts of venues do you want to shoot at? Will you have assistants helping you? How much money do you want to make per year? How many weeks off will you have? Get the idea? Spend time on building this vision in detail. Write it all down. Don’t be vague, be specific. If you haven’t been able to find the motivation for change yet – start by being very specific about your vision.

Being clear on the pain of never achieving your vision will make defeat unacceptable

Second, consider the discomfort if you never make it to the vision. This second step really determines whether you have the fortitude to push ahead and make a change. One of the other photographers wants to move away from weddings and portraits, and ‘make it’ as a sports photographer. So how much discomfort will he have if he never makes the leap? If he says ‘oh well, I’ve got a successful business already … I’m comfortable … I’m doing well’ – then his chance of making the leap is almost nil.

However, if his answer is – ‘I will be completely unfulfilled, I will feel like my creative vision wasn’t realized, I will feel like my purpose in life hasn’t been achieved’ …. then wow (!) he has got some real motivation to get this thing done. Imagine the discomfort of saying “I will feel like my purpose in life hasn’t been achieved”. It’s not about money or status or material things … it is way bigger. This is a strong foundation for change. Give serious consideration to the discomfort you would feel if you didn’t achieve your vision. It will help clarify if you are really serious or are pretending.

my business Third step, are you clear on the very next step. Don’t worry about all the steps ahead of you – just be clear on the next one and act on it. My budding sports photographer friend is clear he needs better equipment to shoot action sports. To date he has got by with his wedding and portrait equipment but he knows he needs a camera body that will shoot 10-12 frames per second to capture the fast moving football action. Buying new gear won’t guarantee success, but being clear on your very next step and taking action will keep getting you closer to your vision. Once you’ve acted on that very next step revisit your vision, revisit the discomfort you would have if you never made it, and decide on the very next step.

So, now you know a simple three step process for how to drive change in your photography business. (You can use this to drive any change in your life). Work through the three steps and you’ll move from procrastination to action, and from “I want to” to “I did”. Step forward with purpose. Drive change in your photography business!

Creating New Revenue Streams

The photography business is a very competitive one, with limited barriers to entry and extensive competition. This makes it challenging for both new and established businesses to generate an appropriate financial return. This week I’ve been working with a major financial services business. They are tackling the future needs of their business in a very structured way. I can see their approach to creating new revenue streams being appropriate to photographers. Let me explain.

So what is happening in this financial services business? Their CEO sees a rapidly changing environment driven by new technology, changing client needs, and heightened competition. It seems that in their business, the old model is dying – much like traditional photographer being overtaken by the new tech savvy weekend warrior.

Are you deliberately setting aside time to create new revenue streams?

This financial services business is preparing for the future. It’s how they are doing it that is really interesting. They are preparing by explicitly focusing on different parts of their business. They are very deliberately trying to build capability in creating new revenue streams.

70% of their resources are dedicated to their core business
20% of their resources are dedicated to emerging new growth opportunities, and
10% of their resources are dedicated to long term experiments

So, how might we learn from the corporate world?

Most of the photographers I speak to are focusing one hundred percent of their time and energy on their traditional core business. Most are also seeing eroding margins for this work, or increased competition, or both. They don’t dedicate any of their time to creating new revenue streams. They are hoping that what they have always done will be relevant for their future clients and enable them to make a living. Can you see a flaw in this logic? Without change, the best they can hope for is a slow decline in their business and some seriously long hours.

How could we implement a strategy similar to the financial services business? If you are working 5 days per week, dedicating 20% of your time to emerging new growth opportunities is the equivalent of one day per week. What might this look like? Well, this will be different for every different business, but a traditional wedding photographer might spend that time investing and learning about implementing drone technology into their wedding photography business. This would give them a unique point of difference, and stop their business being overtaken by competitors. Exactly what you do in that one day per week is up to you, the point I want to make is that you could be spending one day per week creating new revenue streams for your current business.

Jigsaw puzzle And what about long term experiments? The financial services business was dedicating ten percent of it’s resources to long term experiments. How could we do this? Ten percent of our time is one day every two weeks. Could you set that aside to focus on a completely new income stream for your business? Could you build onto your current business something that you have an interest in? Maybe a new line of photography, new products, a blog, photography seminars, photography tours? Again the activity is up to you, but I want to encourage you to deliberately set aside time for creating new revenue streams.

Thanks for reading this blog. I hope it has given you insight into how another business is tackling the challenge of creating new revenue streams that can be translated into something meaningful for your business.

More Photography Business Tips from the Under 12’s

I recently wrote a post for Beyond Here called 6 Photography Business Tips from the Under 12’s. It traced the season of an under 12 basketball team, the lessons they were learning, and how that might apply to photography businesses. The season has progressed and last week was the final round robin game of the season. The team has been making steady progress and has won five games and lost four in the final nine home and away games. They have now qualified for the finals series which commence this weekend. As I reflect on the season so far, here are more photography business tips from the under twelves.

Business Tip 1 – Weaknesses Can Be Turned Around. Every sports team has strengths and weaknesses. In this basketball team we have two very tall kids who are invaluable for their rebounding. They regularly grab the defensive rebound and provide the outlet pass to a running guard. On the other hand, both of them have not been strong on scoring. And if you know basketball, you will know that it is difficult to win games if your centers are not scoring.

As the season has gone on, these two kids have gradually built their scoring to the point where they are now regular contributors. So what’s the business tip? Your weaknesses don’t have to remain weaknesses! Work at them. Practice. Bring them up to a level where they are making a positive contribution to your business. Weaknesses can be turned around with focus and time. Don’t accept them as weaknesses which hold you business back. Identify yours and focus. They can be turned around.

Business Tip 2 – Success is Not Defined in a Few Weeks. When I wrote the previous post we were just three games into a long season. The team went through a tough stretch where wins were hard to come by, but in the second round of the competition they have managed more wins than losses. That’s progress. Now they head into the finals on the back of two successive wins feeling optimistic about what the final weeks of the season might hold. If we assessed the season after three games we might have viewed it as a failure. But success is not measured in a few weeks. Business progress, like a basketball team’s progress, can be massive over a few months. Keep moving forward. Don’t define your business based on current results. Keep pushing on. (For another post about business success please see Fail Fail Fail Succeed, Irony)

Business Tip 3 – There Will be Setbacks. Setbacks in business and setbacks in sport are a normal part of life. Don’t panic when they happen. Keep focused, your difficult days will pass. Right at the moment one of the under 12 players is out of action with a broken finger. She is a strong player and will miss four games. In basketball, that’s one of the reasons you have ten players on the team. And it is why you practice with different combinations on the court. Whether it’s a player in foul trouble, or a player out with injury, a basketball team practices with these challenges in mind. While she is out injured there is the opportunity for someone else to shine. Similarly we need to prepare our businesses for tough times. When they arrive, our businesses are ready.

Business Tip 4 – Good Practice Produces Good Performance. One of the most enjoyable aspects of following this young basketball team is the effort they are putting in. There are ten kids and two coaches giving one hundred percent effort at each training and game. And the good work going into practice is starting to produce good performances on game day.

So what can we learn from this? Did your last big shoot meet your expectations? Was there any room for improvement in either your photographic output or the way you conducted your business? I bet there was. So have you practiced since then so that your performance is better next time?

Don’t fall into the trap of thinking you can turn up on game day and just produce the goods. Be like the basketball team and put in quality practice. Then you can expect a quality result on game day.

Business Tip 5 – Persistence is Powerful. There is an element to this basketball team that keeps on keeping on. They don’t give up. Sometimes after a heavy loss they look worn out and dejected but, by the time the next practice session comes around, they are focused on having fun, working hard, and improving. While some teams are limping towards the end of the season, this team is still working as hard as ever. And guess what? They are starting to close the gap on the stronger teams.

Are you letting your business get on top of you? Are you letting short term failures define you and hold you back? Believe you can get to your goals, and persevere. Keep going. Persistence is powerful.

Business Tip 6 – Teamwork is Everything. In basketball and business, teamwork is vitally important. There’s an old sports adage that a champion team can beat a team of champions. That means a well coordinated group can beat a more talented team, and it is the same in business.

Are you building a champion team? Do you have partners and suppliers who you trust and make your business stronger? Who are we talking about? A print supplier, album supplier, second shooters, accountant, business adviser, equipment supplier. The list goes on and on. Focus on building a champion team who will support you when you need them.

Thanks for reading more photography business tips from the under 12’s. Best wishes.

What is the Summer Slowdown in Stock Photography

Are you wondering what the summer slowdown in stock photography is? Have you heard this terminology but don’t really understand it?

Like many types of photography, stock photography goes through seasons or cycles. There are peaks of demand around major events. Think of large events like the US presidential election, the Olympics, or Valentines Day, or major upheavals and social unrest. And there are also peaks and troughs at certain times of the year.

July and August are typically slow months for stock photography sales

The bulk of the world’s population lives in the northern hemisphere – the United States, North America, Europe, and major parts of Asia. Because of the population base these countries or continents represent the majority of the buyers of stock photography. So when those economies slow for a summer holiday, stock photography sales also slow down.

The summer slowdown in stock photography refers to the time of the year when northern hemisphere clients are having a summer holiday, and so stock photographers are experiencing fewer downloads of their images. That happens in July and August each year.

What should you expect in the summer slowdown in stock photography? My own experience as a stock photographer is that the total number of downloads of my files reduces each July and August and then picks up again in September and October. I am writing this post in the first week of August, so if you are experiencing a reduced number of downloads of your files, this is normal for this time of year. Don’t panic. You should see it pick up again in September.

So, it is one thing understand what the summer slowdown in stock photography is, but what do we do about it?

Consider doing more client work in July and August while stock photo sales are down

Exactly what you will want to do about it depends on your own business and circumstances, but here are three options to think about.

Option one. Do nothing. This option recognizes that sales will slow at this time of year, and so your stock photography income will decline during these months. If you have cash flow from other sources, the summer slowdown in stock photography is nothing to worry about and no particular action is required.

Option two. Develop more client work at this time of year. If you are wanting to develop a consistent flow of income you’ll need to build up income from other sources during the northern hemisphere summer months. I do this by shooting more family portraits at this time of year. Family portraits might not be the solution for you depending on what you like to shoot and what your typical client looks like. With planning and preparation its possible to adjust your client work to increase at this time of year. Keep in mind your stock photography income is likely to drop in July and August, and you will need to increase income from other sources.

Not all stock photography sales slow down in July and August. Consider shooting content which will sell well during this period

Option three. Develop stock content which isn’t impacted by the summer slowdown in stock photography. Not all stock photography markets experience a slowdown in these months. Where I live in Melbourne, Australia it is the middle of winter in July and August. It is also a time where there are very few public holidays. This is generally a good time for stock photography sales and I see steady downloading of my Australian themed images in July and August. Perhaps there are geographic markets or specific content you could shoot for which don’t slow down in the northern hemisphere summer months?

Thanks for reading what is the summer slowdown in stock photography. I hope it has helped explain the seasonality which occurs in stock photography and given you some options to consider. Happy shooting.