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Now You’re Making Money In Photography. What to Buy?

Posted By Susie Hadeed On February 22, 2013 @ 8:00 am In Business of Photography | 1 Comment

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Editor’s note: This is the last in Susie Hadeed’s five-part series on creating a business structure around your photography. Read the entire series here [2].

My favorite – shopping! If you’re lucky enough to have figured out the photography business – you’ve got goals, pricing and clientele – you need to be sure that every purchase fits with your goals.

It’s so much easier now that we have our goals written down to figure out how to spend. All we have to do is ask ourselves a few questions:

  1. Does this purchase help me get to where I want to be?
  2. Will this help me in my photo quality?
  3. Will this help me be a better marketer?
  4. Will this help me be able to give my clients a better experience?
  5. Will this help my workflow be faster?

Channel Your Emotions With a Good List of Priorities

If we’re contemplating buying something and we start by asking these questions, it really helps narrow down our emotions when we want something so badly. If I see a new book by a photographer that has come out, and I would love to have it, but I don’t feel like I could answer “yes” to any of those questions above, I know I can’t buy it.

Recently, we needed another camera. We were shooting with a Canon 5D and a 5D Mark III.  It was getting to the point where we were both feeling we needed another Mark III, but didn’t know if we wanted to invest in it right now or not. We started asking ourselves these questions. Yes, it was going to help us get where we wanted to go, because we knew we’d be providing a better client experience. Yes, it was going to improve our photo quality. Yes, it was going to make us better marketers because of the above. And, yes, it was going to speed up our workflow dramatically because we would be working with one camera type during editing instead of two.  When we thought about those reasons, it was a no brainer that we needed to go ahead and purchase it.

But Hold Off on Instant Gratification

Now, just because we purchased it quickly doesn’t mean we hadn’t been thinking about this for a while. In fact, we got through most of our wedding season before we bought it and managed just fine. We provided a great client experience. We just got to the point where we had some money to invest and we were outgrowing the older camera.  And, we started thinking about next year, and we knew in order to work our business like we needed to in 2013, it would be an essential part.

Hopefully, this series has provided some tips that will help you get your goals written down, and your business plan started.  It really can be a fun process. Good luck!

 

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1 Comment To "Now You’re Making Money In Photography. What to Buy?"

#1 Comment By Chelsea Rae Schmidt On March 20, 2013 @ 1:23 pm

I think investing profits back into your business is one of the best and quickest ways to grow. Sure, you can struggle along doing what you were doing and still make some money but the only way you can grow is to change, upgrade, or fix (all things that usually require at least some money). I always use the 30 day rule for my business… if I still need and want it after 30 days, then it is a good investment.


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