There are no golden rules outlining the specifics of starting a photography business. Nonetheless, to increase the likelihood of success, there are some unwritten rules to keep in mind. These things do not have to be set in stone or written down to prove that they are critical to the success of your venture.
- Rent, Don’t Buy
If you are just starting out, it is best to consider a camera, lighting, and lens rental to have the equipment you will need. Avoid buying brand-new, as most beginners won’t have the luxury of financial resources. Also, renting is a better alternative, since it gives you the chance to try out as much camera gear as possible and decide on which one is the best for you.
Looking for equipment to rent as you start your photography business? BorrowLenses is one of the options that should be on your radar.
- No Man is an Island
This old adage holds true even in the case of photographers. While starting a solo practice might seem attractive, the truth is you won’t be able to do it alone. You should work with assistants. You will also need to work with consultants, accountants, and others who will be necessary to help with the daily business operations. The more your business grows, the more pressing is the need to work with other people.
- Be Proactive
When it comes to the unwritten rules of first-time business owners, it is important to execute a proactive approach. You always need to be one step ahead, making it easy to overtake the competition. It is important to not stop improving. Continue to look for ways to be competitive. Be proactive instead of being reactive.
- Find a Niche
You cannot just advertise your business as a company providing photography services. That would be too general! Rather, you need to find an area that is under-served but has the potential to be profitable. This way, you won’t be swallowed whole by the competition and you will have a clear idea of who your target market will be.
- Get Involved in Groups
This is important because it will provide networking opportunities, especially for newbies. If you have just established your business, membership in photography groups and associations will be a good way to increase awareness. In the same way, it can also be an opportunity to find mentors and be inspired by the success of others.
- Go Beyond the Bottom Line
If there is one thing that can kill a business, it would be too much focus on the bottom line. Yes, profitability is important. Nonetheless, it is not the single-most important measure of business success. You need to go beyond the financial metrics. As you start your photography business, look at the other factors that will be crucial in measuring the achievements of a business.
Keeping the above rules in mind, it will be easier for your photography business to succeed. From renting equipment to focusing beyond the bottom line, take note of these things to fuel the growth of your business.