Budgeting for an investment

Earlier today, I received a call from a company asking for a quote to produce seven business portraits. After I sent my quote ($1,640 plus tax), the person said they had received quotes from three other photographers.

All four photographers, including myself, had quoted prices around $1,500. Unfortunately, the person continued, the company’s budget was “well under $500.”

 

Everyone has a camera built into their cell phone. Push a button and the picture appears instantly. Photography is seemingly free. This is the downside to digital cameras.

Digital photography has created an under-appreciation and a devaluation of professional photography and, I dare say, even of photography itself.

For important pictures, and all corporate photography is important, just pushing a button is never good enough.

When you hire a photographer, you’re paying for:

• The photographer’s business overhead. Remember that all businesses pass on their overhead to their customers. A photographer walks in the door with tens of thousands of dollars of equipment.

• The photographer’s time, talent and experience. Don’t underestimate the value of latter two.

• Processing the digital files. From putting proofs online to finishing the photos, this generally takes at least twice as long as the photography itself.

• A licence to use the pictures. Without a licence, you can’t legally use the pictures.

 

When you’re planning a photography project, you have to decide how important the pictures are to your business success. If the photos aren’t important then budget low and have low expectations. But if the pictures are important then budgeting is about how much you want to invest in yourself.

 

Budgeting for an investment

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