Business Essentials [for a Fail Proof Business]

Business Essentials [for a Fail Proof Business]

Business Essentials [for a Fail Proof Business]

1Pinterest2The photographic industry is one of the most challenging, difficult, and competitive for start up businesses. The statistics prove it. Take this 3 year study discovered by Dane Sanders in his book Fast Track Photographer:  In the 1st year, 60% of photographers give up their business. Of that remaining 40%, another 25% will fail within the 2nd year. The ones that make it are the remaining 15% who endure through the 3rd year.

That’s a staggering 85% turnover rate.

Obviously, something is wrong with the way most photographers enter into this business.

So, you want to enter this business? Do your research. In reality, the photographic industry is not about photography. Photography is the end product, yes, but it is only a small percentage of what the industry is about. The rest is about business;   Real-to-life business application.

The greatest challenge to photographic business is understanding that many standard business principles apply to this industry, but to a degree, business principles take on a customized spin to photography business.

It’s obvious that photographers need guidance and direction for the specific tasking involved with the photographic business.

The following list is a Dream business essentials kit of resources to help you survive the 1st, 2nd, 3rd years and beyond. Remember, foundations are everything. You may need to enter the industry at a slower pace, but have the perspective that you are building your business to last.

Whether you are a naturally business savvy individual, or clueless about business practicalities, this list will assist you to not only survive the photographic industry, but to find the beauty of thriving.

1. Vision Mongerers by David DuChemin

Everyone’s path to success is different, because everyone’s definition of success is different. In this book, DuChemin highlights the journeys of nine photographers who have passionately devoted themselves to their craft and their business. You will be challenged, inspired, and encouraged by their stories.

2. Photographers Legal Guide by Carolyn E Wright

Every day a new horrific lawsuit is popping up involving a photography business.  If there was ever a day to get your basis covered, now is the time. Written by a photographer, this book will de-mystify the area of photographic legalities, and give understandable and concise information for you to run your business.

4. Business Craft BootCamp (Business Mentoring)

Several professional photographers offer one-on-one mentor programs that will help you dig deep to discover the motivations and foundations for setting up your business. Sometimes you need more clarity than you can give yourself. You don’t have to chose my mentoring program (though I’ll be honest, it really does rock), but a business mentor will absolutely help you get to where you want to go.

5. The Photographers Guide to Making Money: 150 Ideas for Cutting Costs and Boosting Profits by Karen Dorame

The opportunities to spend money on photography equipment, supplies, and investments are endless. Don’t spend unnecessarily. Be savvy enough to discern which products and services you should choose to maximize your profits –  and which you should do without.

6. BlogLovin

If you become like your friends, then it may be safe to say that you will become like the photographers you follow. Take the time to follow and subscribe to photographers whose work inspires you. Study their work, their branding, their business practices; you will be able to consistently glean profitable information – without spending a cent.

7. CafeJoy

Sarah’ Petty, a professional photographer for over 10 years has developed the program that she wished she had as a starting photographic professional. Offering both paid and free resources, Sarah’s passion and business sense will help guide aspiring pro photographers to legitimate business depth and practice. Moreover, she guarantees that her resources will indeed help you – or money back.

8. MarieForleo

While she isn’t a photographer, this multi-million dollar Entrepreneur knows business. Each week she produces a training video for inspiration on life, business, and attitude. By far, one of my favorite resources and she will get you insight outside the photographic industry.

What other resources do you believe should be on this list? Share below so we can build up our photographic community together!

Steady On!

Christina

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