Running Your Business continued

Displaying Matches 16 thru 35 of 43 Found.  BACK NEXT

Accounts, Software & Accountants Part 1 - Why Keep Accounts?
The most boring part of running a business is keeping your accounts. Boring it might be, but it is fundamental to building a successful photography business. . . . keep reading

Being Underpriced By Your Competitors Part 5 - And How Much Do You Need to Charge?
Despite all the wonderful theories written by people like me, there are times that the best marketing and service won't work. We don't have control over how our prospective clients think and act, we can only try to influence them. So, when they come back to you with a price that is much lower than your quote, or your asked to match a lower quote provided by someone else, should you do the job? . . . keep reading

Being Underpriced By Your Competitors Part 4 - Are You Undercutting Someone Else?
So, whether we're talking about advertising, commercial, stock, weddings or portraiture, there have been changes in the market that make it difficult to increase or even maintain our prices. . . . keep reading

Did You Ever Try Selling Your Images?
After spending a significant amount of time taking pictures, and accumulating a large library of images, it can be a daunting task looking for a way to sell your work. With the right approach and a vast amount of hard work you soon may see a return for all the hours spent outdoors. . . . keep reading

Spend Your Salary or Spend Your Profit?
It doesn't really matter whether you trade through a company, trust, partnership or as a sole trader, you can set up a 'salary' system. Here's how to do it.. . . . keep reading

Being Underpriced By Your Competitors Part 3 - Are YOU Being Undercut?
The photography industry includes a cross-section of members from seasoned professionals who still smell of fixer fumes to students who might not have learned what fixer is. And often it is the seasoned professional who is being undercut by a newer entrant to the profession. What can they do about it? . . . keep reading

Being Underpriced By Your Competitors Part 2 - Market Assessment
Not all photographers survive. Photography studios come and go and many photographers, unaware of how much they should charge to stay in business, find themselves unable to pay the rent. . . . keep reading

Being Underpriced By Your Competitors Part 1
The capitalist economy can be a double-edged sword. While it allows people to pay high prices for goods and services, it allows people to pay very cheap prices as well. Naturally, when we are purchasing we want to pay as little as possible, but when our clients buy from us... . . . keep reading

Getting More Out of Each Customer
Have you ever been into a fast food outlet and asked for a burger? How many times have you been suggestively sold to with, "Will that be a large one?" Upselling is similar but here they have asked you if you want to upsell. For example, "Would you like to large for just 30c?" They make a great deal of profit within that 30c. I wonder how many people say YES just because they were asked. . . . keep reading

Why Plan? Business Planning Made Easy
I know I have a problem - and that's harping on planning. But, as the holiday season approaches and you have time to put your feet up and reflect, do a little more and plan. The following article is a regular reminder that all business people - photographers and others - cannot get enough of! . . . keep reading

64% More Profit? Easy!
Would you like to increase your profits by 64 percent? And you don't have to change anything you're doing by more than 5 percent? . . . keep reading

Business Planning Part 2 - Life Outside Work
Some people seem to enjoy every aspect of their lives. Others spend much of their time in a moribund stupor. As we live our lives, things can happen to us or around us that greatly affect the way we look at life, and while it might be trite to say so, it's our attitude to life that makes the difference. . . . keep reading

Rent, Lease, Hire or Buy?
There are a lot of issues to consider when purchasing new equipment. In 'the good old days', we'd put down $20,000 and purchase a camera outfit that would last 20 years. Today, we put down $20,000 for a camera and computer outfit knowing that we will need to upgrade in three, four or five years. . . . keep reading

Working In A Digital Age 6 - Charging For Digital
So, what do people charge for when it comes to digital? With film, we used to charge for film and processing and add a reasonable mark-up. What can we do with digital? There are many ingenious 'line items' that photographers use to extract a little more profit out of each client. . . . keep reading

Working In A Digital Age 5 - Working Out Your Prices
To work out your prices, you have to know what your wages, profit and total sales are going to be - or what you want them to be. . . . keep reading

Working In A Digital Age 4 - Calculating Your Total Sales
Before you can calculate your prices, you should first calculate or budget for your studio's Total Sales. Total Sales needs to cover variable costs, overheads and your profit. Your wages cover you for the time you work in the business, the profit rewards you for running the business and allows you to reinvest in the business and save for retirement. Both are essential. . . . keep reading

Working In A Digital Age 3 - Understanding Your Overheads
Studios cost money to operate. There are two types of costs - variable costs and overheads. . . . keep reading

Business Planning Part 1 - The Big Picture
Don't be scared of writing a business plan. The worst that can happen is you don't quite reach your goal, but that's not all bad. If you aimed for 100% and only achieved 75%, that could be significantly better than the 25% you're doing now. Think ahead a few years. How will you feel when you find yourself retired in the old folks home, rocking on a chair on the verandah and wishing you had tried something different or been a bit bolder and given it a go! . . . keep reading

Working In A Digital Age 1 - Which Digital Camera?
The standard digital camera is a 6-megapixel DSLR. This will soon be an 8-megapixel model. Both have the advantage of reason­able price for 'average quality' (this is not to be taken as a disparaging term, rather a relative one). . . . keep reading

Working In A Digital Age 2 - Pricing Your Digital Photography
In addition to a digital camera, you need a computer system - computer, monitor, storage, printer, peripherals and software. You can easily add another $5000 to $20,000 for this equipment. All up, the investment in a digital studio could be patched together for $10,000, but you're more likely to spend $20,000 or more. . . . keep reading

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