e.rose
Been spending a lot of time on here!
- Joined
- Jan 27, 2011
- Messages
- 4,789
- Reaction score
- 1,985
- Location
- Nashville, Tn
- Website
- www.emilymcgonigle.com
- Can others edit my Photos
- Photos NOT OK to edit
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6. Most of the people that contact you will think you're overpriced. You'll never know how many didn't take you seriously because they thought you were underpriced. The ones that think you're underpriced are the ones you want to market to and price for.
9. People expect you to be able to make their children smile... on command... every time. 10. When people realize you can't make their children smile, they'll get mad at you... as if you punched their kid in the face. This is why I threw in the towel.
14. The average photography business lost money in 2011. WORD! The average retail photography business owner earns income below the poverty level.
16. You'll spend about 20% of your time on photography, and the rest banging your head against the wall, trying to figure out how to make money doing this so you can still pay your mortgage. Stated another way - You have to do 5 hours worth of business tasks to generate and maintain the customers that result in 1 hour of doing photography tasks.
17. Most small businesses last less than 5 years. Yep! Historically about 85% of new small businesses fail to make it to their 5th anniversary.
37. People will think that you have little elves that work for you that can apparently "photoshop" anything.... even people who didn't actually show up at the wedding... for free..... Photoshop used as a verb is just another word for 'magic'.
Unfortunately this is not limited to photographers.
In my contracting business, I keep coming across the wanna-be contractors who figure I (and other contractors who have been in business for a while) are making a killing, and they want some of the action. Some of them were my former employees that I trained. What they don't realize is that there much more to the job than buying product and installing it. For some reason, they end up lasting a year or two, and then they're working for someone else again, poorer, and usually not much wiser.
One of my acquaintances loves baking. So she set herself up as a professional baker. Uh-oh. There are various laws covering the operation of a food-producing facility. There are permits and certifications. There is commitments for rent, utilities, and professional services. Then there's the challenge of finding enough customers to cover the monthly overhead. All of the sudden, it's not as much fun any more.
I know another person who believes her calling in life is to be a motivational speaker. She's got energy all right, and can talk. But there's this little issue of having to find customers, arrange for venues, handle the logistics, cover the insurance, business taxes, and various permits... and she's struggling, because she's got the 20% (the speaking part) more or less covered, but the rest of the stuff is just a lot of headache and drag.
I have seen successful small businesses, but they tend to be partnerships of like-minded people who divvy up the hard work and each is good at what they do. Someone has to handle production. Someone else is dealing with marketing. Someone is looking after administration, cashflow, and making sure all the regulatory stuff is handled on time. Someone has to do the sales. And if there are employees, well that's another can of worms.
It ain't easy.
Those three reasons at the end shouldn't be underestimated.
Even after all those reasons. I still am glad I'm giving this a shot.