Don’t forget to include photo sessions in your product and service review.Evaluate which sessions are your best sellers and the profitability of each. Business guru Zig Ziglar used this phrase to remind us that taking time to reflect and reevaluate your life is important, and a key component for your personal development.
Do you have systems in place to stay organized and keep your clients informed, and to ensure that you are able to exceed your clients’ expectations?
If you happen to be that stereotypical “creative” that creates beautiful work, but you're unorganized, miss appointments and rarely deliver images on time, this is an area you need to focus on if you want to be in business five years from now.
You must remember that every hour you spend retouching or creating an album is an hour that you can't book a session. It is important to retain gross profit on the items you are offering to your clients, but don’t get so profit focused that you lose sight of the types of items your clients want.
The key is to offer products that meet your client's needs AND the gross profit goals of your business.
Without clients, you don’t have a business, so you need to keep them top of mind in everything you do.
Pricing is one the most widely discussed topics in photography forums, but the reality is that pricing is different for everyone, and should be based on your cost of doing business (CODB), not by comparing yourself to other photographers.Make time to regularly review your business to make sure you are still on the right path, or to make a course correction if necessary.There is nothing wrong with changing course, just make sure you are doing it with intention.Be sure to factor in the amount of time you're spending, including travel, planning, retouching, etc.Do you include hair and makeup with your sessions, incur location fees, or other hidden costs?What didn’t go as well as you would have liked, or could use a little tweaking?Are there some things you’ve been wanting to do or look into that you haven’t had time to? We’ll revisit them again after we've reviewed the details of your business.Knowing your gross profit on each item will be helpful in determining the right product mix to offer to your clients.You can calculate this by subtracting the cost of the item from your selling price.Make notes as you go, and keep a list of your action items – the things you want to change, tweak, or look into.Be sure to keep your clients in mind as you review each area as well; how will any change you are considering impact them?