The business side of photography
Are you feeling stressed? Does your spirit need to be lifted? Do you need a healthy glow? Then have we got the cure for you: a big dose of Honeysuckle 18-2120.
The colourful folks at Pantone have declared that this is the colour for 2011. Please adjust your life accordingly.
It’s common practice for news photographers and editorial photographers to pitch photo ideas to newspapers and magazines. In fact, many publications expect this.
A smart commercial photographer or corporate photographer could do the same thing with clients with whom they already have a working relationship. But in this case, just pitching an idea isn’t good enough. The photographer must also sell the reason for the proposed photo coverage and the benefits of that coverage.
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First basic rule of business: cash in must exceed cash out.
Revenue from assignment – cost of assignment = gross profit
Gross profit – overhead expenses = net profit (before taxes)
Revenue from assignment is what the client pays you, not including taxes.
Cost of assignment is expenses incurred to do the assignment.
Overhead expenses are expenses that have to be paid whether or not you have an assignment. For example: camera gear, computers, software, car, insurances, utilities, cell phone, rent, etc.
Net profit: if there’s any money here, remember that you still have to pay income tax plus all your normal living expenses.
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Should you ask how your corporate or commercial photography business can win more clients, the usual answer is to be different than other photographers. Of course, this is easier said than done.
When most photographers use the same cameras, lenses, computers, software, lighting equipment, and template-based web site, and all are capable of producing the same quality images, how can you be different?
In the old film days, it was a bit easier. Back then, being different meant a photographer might have the skill to follow-focus on fast-moving objects, they knew how to use a lightmeter to accomplish great lighting techniques, they had the necessary darkroom experience to make custom prints, they used larger format cameras, or they had a unique style of photography.
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Here are some of the best ways for a business to waste its marketing efforts. These have been proven to produce poor results and push customers away. If your business has too much money and you need to waste some of it, these tips should help you accomplish that goal:
• Send out press releases without any pictures. This is the best way to let editors know that your press release isn’t really important and you don’t want attention.
• Use stock photography. Nothing says “we don’t care” more than the use of cheap, stock pictures. Custom photography won’t waste money since it provides useful information to customers.
• Make sure your About Us or Contact Us web page doesn’t have any pictures of your key employees. Why risk gaining credibility and trust with your customers when you can be another impersonal business?
• Use only low-resolution pictures on your web site. Large pictures have the problem of attracting and holding customer attention which can encourage them to open their wallets. Going small is a great way to waste your web efforts.
Today, I received a “Dear Photographer” e-mail which proclaimed that I’m being considered for “free” inclusion in the next edition of a prestigious “Who’s Who” book. Supposedly, I’m one of the top, most distinguished photographers in North America. Being included in this book will mark my high level of achievement.
Yeah, right.
For fun, I visited this company’s web site:
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Photography may be how you make money but photography is not your job.
Your job as a professional photographer is to make the world know you exist. Well okay, maybe not the entire world but at least your little corner of it.
Your job is to attract attention and get people to trust you. People only do business with someone they know or trust.
Your job is to help customers achieve what their goals. Retail customers usually want the photographer to create good memories for them but not necessarily accurate memories. Business and corporate customers want the photographer to help their company get favourable attention.
Your job is to understand the customer and offer better solutions.
Some jobs are difficult. Thank goodness photography isn’t one of them. :-)
