Decide on an area of focus sooner than later! If you haven’t really thought about what you want to photograph start thinking about this now! Photographers who specialize in one or two areas are more likely to achieve higher success. Think about it this way, if you have a heart attack do you want your family practitioner treating your or a heart specialist? It’s the same thing in photography, if I want pictures of my newborn baby am I going to go to a Wedding Photographer or a photographer who specializes in photographing babies?
Remember building a business is more than taking beautiful images, there is a lot of marketing, advertising, book keeping, among other things involved. It can be very difficult to grow a business when you are taking every job that comes your way. How do you market yourself as a photographer who specializes in weddings, babies, maternity, families, seniors and pets? The answer is you don’t.
If you’re not sure what your Niche is at this point it’s ok. That’s part of portfolio building. You will learn what you love and what you don’t love photographing. You may realize right away that you have no desire to photograph pets. If you don’t like it don’t do it. You may realize that you love photographing weddings, but you have kids at home and you don’t want to be tied up every weekend. You may love photographing newborns, but you don’t have a studio space. Are you willing to travel to client’s homes and bring a studio with you? Again, if it’s not something that’s going to be feasible for you in the long run then don’t put your energy into it. My advice is find your niche and then focus 150% of your time in that one area. Any other job is just driving you further away from your ultimate goal of running a successful photography business. It can be hard at first, turning away money, but I promise you taking every job outside of your field will be more costly in the end.
No. 8 Website Ready!
Once you’ve had a fair amount of practicing on family and friends and you feel that you are ready to officially start your business and start making a bit of money you will need to get a website and blog. I highly recommend Square Space for building an economical and user friendly professional website and blog, all in one, starting at just $8 a month!
Blogging from the very start of your business is the most important thing you can do for marketing and advertising! The best way to gain a presence on Google is through blogging. believe me you will thank me for this advise later (stay tuned for more on this topic).
No. 9 Setting Your Prices
Pricing is very subjective and unique to every individual photographer and there are several factors to consider when setting prices. Don’t google other photographers in your area and look at their prices. There situation will be completely different from yours. Maybe they have been in business for a long time and their prices are high. Maybe they are just doing this part time and is not their main source of income and it’s more of a business that supports their hobby. Their prices may be on the lower end. The following questions need to be answered when setting your prices:
- What are your yearly expenses? (website, business license (you will need to renew yearly) equipment investment, gas, taxes etc) This list will grow tremendously as your business grows!
- How much money do you want/need to make per year?
- How many sessions do you want to shoot per month?
These 3 questions will help you set your prices. I would recommend answering these questions twice. The first one should be a realistic amount for question 2. If you are just starting out having a goal of $96 per year is probably not very realistic, but a goal of $30,000 may be. Then answer the questions again, only this time put in your longterm goal for question 2 of $96,000 or more! It’s good to see what you will need to be doing to reach your ultimate goal!
Now add together your amounts for question 1 and 2 and divide that answer by 12. This amount is what you need to make each month to reach your goal.
Lastly take the last amount and divide it by the number of sessions you hope to book each month. That answer is a good place to start with pricing your sessions
Here is an example:
Yearly Business Expenses (YBE) - $4000 (this is just the beginning years)
Yearly Goal (YG): $30,000
YBE + YG = $34,000 (this is what you need to make (NTM) each year to reach your goal)
Now take your NTM ($34,000) ÷ 12 = $2833.33 (this is what you need to make per month (NTMM) to reach your YG)
Hang tight we’re almost there…
Last step take your NTMM and divide it by the number of sessions you want to book each month (SBEM) - $2833.33 ÷ 8 = $354.17. This total is the amount you will need to set for your lowest priced package to reach your YG.
Here’s where it gets a little tricky. As a brand new photographer it may be difficult to charge these kind of prices. Especially if you still have a lot of room for improvement with learning your camera and understanding light. So you have a few options if charging that much is just not realistic.
Option 1: Raise your SBEM (Sessions booked each month goal)
Option 2: Lower your YG (Yearly Goal) to a more realistic goal
Option 3: Stick with your original pricing, but run a portfolio building promotion where you are offering 50% off for the next 3 months (or something like this). This way people know what your prices are and won’t be so shocked when your ready to raise them.