How much is that new camera bag really going to cost you? If you’re just starting out, it might just make it harder to grow your business. How would you like to increase your photography business? Maintain your photography business? What about just getting your photography business off the ground?
Learning where to spend money is something that I feel is important for all businesses, but especially for newer ones. I remember when I first started my newborn photography business. I remember when I started making lists of everything I wanted to buy for the business. I definitely remember the day that new shiny business credit card came in the mail.
I went on a mini-shopping spree. I bought blankets, and hats, and backdrops, and a new camera bag. Boy did I need that designer camera bag! Everything was shiny, and new, and great – until the first credit card bill came in the mail. Opening up that envelope made me realize that I either needed to make better decisions on what I was buying, or I would end up without a business and in a lot of debt.
Spend Your Money On Things That Will Make You More Money In Turn
I see photographers all over Facebook, Twitter, and photography forums who are quick to purchase more equipment, the “it” prop, or a fancier camera bag when their money should be spent on smarter things such as marketing their work/business, sales tools to sell their talent, and education so that they can better their skill set. I’m definitely one of those who just had to have that beautiful camera bag, but I could have put that $200 into advertising my newborn and baby photography business on adwords to help me gain more clients.
I Know Advertising and Education Aren’t Fun
I totally get that spending money on advertising does not provide as much of a thrill as that super detailed macro lens that you’ve been eyeing, but marketing your business will put your work and website in front of more people. In turn this will bring in more clients, which will then increase your sales. That lens probably won’t. I know, I know….boo!
When you’re building your business, you have to invest in the things that will bring more clients and higher sales through the door or you won’t be in business long!
To Buy or Not To Buy
As you’re browsing the Internet for new hot items, ask yourself . . . will this (insert totally awesome one of a kind, but not really necessary item here) really help me grow my business? If the answer is no, consider saving that cash for something you can say “yes” to and maybe put aside a little each month so that you can afford to pay for it overtime. Try to resist those impulse purchases…I know they can really dig at you and practically jump into your hand, but I promise it will be well worth it in the end!
If You Can’t Make A Profit, You Can’t Continue To Do What You Love
While I LOVE the art of photography, and I adore my clients, I’m in this business as a business. If my photography business isn’t bringing in a profit, I can’t continue to do what I love. After all, you want this to be a source of income, not a very expensive hobby! So, to all you new and experienced photographers, happy spending…or not!