Cost vs. Value: Would You Spend $25,000 To Grow Your Photography Business?

Around the world, most people think with their pocketbooks instead of realizing the impact something could have on their futures.

They focus in on the cost of everything that is presented to them, instead of on the value the item presents to their lives.

For instance, if I said you have the opportunity to spend one week with the top minds of the world, learning all you can about business and improving your life, but it came with a price tag of $25,000 for the week, what would you focus on?

The chance to spend one on one time with brilliant minds that have grown major corporations?

Or the fact that there is no way you could ever afford $25,000?

Would you concentrate on the value you would receive from spending time with people that have succeeded at everything you’ve ever dreamed of?

Or would you concentrate on the cost of the program?

Don’t worry, you’re not alone.

I have spent thousands of dollars to attend seminars in the past, and when I talk about them with family and friends, the response is predictable:

“What, are you crazy? How could you spend THAT much?”

Because they are so focused on the costs, they miss one crucial point.

You can’t learn million dollar strategies from someone who has never made one million dollars. You can’t learn successful business strategies from someone who has never built a successful business. And you can’t learn successful lifestyle strategies from someone who doesn’t have the lifestyle you are trying to emulate.

So when I see someone holding a multi-thousand dollar event, I look at it and say, “Hmm … I wonder what they know that I don’t?” I look at the people in attendance, their reputations, their resumes, and what they have to offer to the group.

While the big price tag of $25,000 probably got your attention, the same holds true no matter what the price tag. People have different thresholds, and while some declare $25,000 to be outrageous, for others it might be $500, or even $50.

One person may say, “OMG, you paid $1,000 for that? Really? I’ll give you “advice” for half of that, give me $500 and I’ll tell you everything I know, wink wink.”

But a smart person knows better. “If this training teaches me one important tip that will help me generate $1,000 into my business next month, I could keep earning that $1,000 for the life of my business.”

Are You Being Set Up For Failure?

I love using social media. In fact, I’m a little addicted to it. I’ll admit I wake up at 4 am with ideas for my blog, or ways to engage people on our Facebook account. I keep a notebook on my end table so I can record my ideas and get back to sleep – it sure beats lying there thinking about things, hoping I’ll remember.

Anyway, one of the reasons I love social media is the connection you can make with people all over the world. When people post comments, ask questions, or even disagree with what I’ve said, I take it to heart and listen to what they have to say. I’m always open for changing my opinion if I have another way to look at things.

So a comment came through a day or so ago that made me think.

“I think you’re giving false hope to a lot of people out there who simply will never make money at photography.”

Hmmm… I had to think about that one for a while.

The Road To Failure

In some ways I suppose it could be true.

I started this site with one goal – to teach people how to make money with photography. Yet I know by releasing it online, anyone can read it. So if you are a professional photographer working full time, you can read it. If you are a professional photographer working part time, you can read it. If you are an amateur wanting to start your own business, you can read it. And if you just love photography, and put the concept of owning your own photography business somewhere in your dreams, you can read it too.

To me, false hope is giving someone advice that simply can never come true. So if I taught you how to travel to Mars, at this point in time, that cannot come true. So that would be false hope.

But if I give you advice on something I have accomplished, and thousands upon thousands of other people have accomplished, it really isn’t false hope, is it?

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How Much For A Photography Franchise?

I finished reading the January edition of Entrepreneur magazine this past weekend, and frankly I was shocked.

They dedicated a large portion of the magazine to franchises, and showcased the top 500 franchises that are available for startup.How Much For A Photography Franchise?

Did you know 8 of their top 500 franchises are in the photography industry?
Does that tell you photography is still very profitable?

And now for the most shocking thing to me – people are willing to invest anywhere from $15,000 to more than $300,000 to get involved in one of these photography businesses. And on top of the franchise fee they listed many more thousands of dollars in startup costs (buying equipment, leasing office space, etc). Wow.
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Long-term Success Comes From Patience and Perseverance

How fast can you find success?

Is it possible to make $100,000 in one day?

Is it possible to gain 100 new clients in one week?

Is it possible to grow a million dollar company in one year?

The answer to every one of these questions is … yes. And of course, no. success

We’re conditioned in our lives to achieve things quickly. A murder mystery is solved on television in under an hour. Infomercials promise us instant results, cure your problems in a day.

But is any of this truly possible?

If you’ve ever planted a garden, you understand it takes time. You start by tilling the soil. You add new, energized soil and fertilizer to the ground. You plant seeds. You water. You fertilize. You weed. You provide sunshine. And they grow. Weeks later, the seeds turn into plants. You nurture the plants as they produce fruits and vegetables. And finally, you harvest your reward.

What about your business? Can you harvest your reward without taking the time to plant the seeds, water, fertilize … and wait for all of your love and commitment to take affect?

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Your Photography Business – Recession Proof It

What are you doing to your photography business to guarantee yourself an income … no matter what?growth graph

I’m out on social sites like Facebook and LinkedIn a lot. So I see a ton of conversations all related to the economy. People are worried about their jobs, wondering if they’ll still be employed six months from now, and trying their hand at building up a hobby to a reasonable income, so that it won’t hurt quite as bad if their job does disappear.

But what if you could build up your hobby to a full time income – a Six Figure income – and never had to worry about the J.O.B. every again?

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It’s All About Your Attitude

We started out our weekend by having dinner with longtime friends, Cliff and Margie. We met them well over 15 years ago at one of our first bridal shows. Though both of our businesses have changed considerably over the past 15 years, we still enjoy “talking shop” on occasional ntoastights out.

As we were sitting there having dinner, I realized how unique their business is. You see a lot of photographers I talk with tell me about their troubles. They lost the once referral source for weddings, and their business is drying up. They are competing with 30 photographers for this year’s senior market – up from 8 last year.

But not from Cliff and Margie. Business is up. Business is booming. They are on track to do one of their best years yet. And this isn’t the first time I’ve heard that from them. They pretty much say that year after year. Yep, their business is growing year after year.

So why can some still be very well into a Six Figure Photographer business, and others are struggling? What’s the difference?

Mainly it’s in the attitude. They do well because they push to succeed. They take what worked from the past years, and continue to make it work again and again.

They also listen. I guarantee they aren’t doing what every other photographer is. In fact, they take what everyone else is doing, and turn that into a bigger plus for using their studio?

Tired of no customer service? They offer nothing but customer service.

Handing over digital files on CD’s? Why?

The list goes on and on. In fact, they are doing exactly what I talk about in my Six Figure Photographer program. As we were developing our program, and becoming Six Figure Photographers ourselves, we met with Cliff and Margie on a monthly basis for our mastermind group. They were developing their business right along side us.  And neither of us have ever looked back.

One thing we’re both reading right now: The Success Principles. I’ve had this amazing book for a couple of years now, and I pick it up all the time. I read it through once from beginning to end. Now I pick it up, open it up to a page, and read just that chapter. Usually I end up on a chapter that directly applies to what I need in my business. And I take it to heart, and apply what I learn.

I enjoy books like this because you can always learn from them. The principles apply today, and they’ll apply 5 years from now.

So I challenge you to start thinking differently. Don’t concentrate on the negatives – focus on the positives. What can you do to turn your business around?

photo source juzara

Seven Figures? I’m still struggling with Six Figures

You open up your email and several come in with the phrase “zero to seven figures in less than a year.”

That would be great. But what if you’ve been struggling to make six figures? Since the average photographer makes just above $50,000 per year, making the leap to seven figures may be a bit of a stretch for most photographers.

Everything in life is in logical smoney mentorequence. You have to crawl before you walk. You have to walk before you run.

If you’re earning a salary from a job, you have to understand how to turn your “job” mentality into an entrepreneurial mentality. You have to know how to run a business and bring in the same income as your previous “job”.

Then when you achieve your old salary level, it’s time to move to a Six Figure level. Only when you achieve each of these steps is it even feasible to see the seven figure level in sight.

We started our photography studio while we both held full time jobs. Neither of us came from entrepreneurial families, so we learned from mentors around us. Andrew made the break first after being downsized three times in three years. My break was more difficult because I held a guaranteed paycheck with benefits.

We were definitely at the average income level when I quit my position. Yet we doubled and tripled our profits again and again because we were both working full time on our photography – and we learned from the best.

You can’t do it alone. You have to take cues from others. Guidance is the only way to build your business quickly, and to turn it into the business of your dreams. 

New Projector For Portable Sales

If you are one of my Six Figure Photographers or are in my Photography Money Club, you’ve discovered the best wayprojector to increase your sales – Projection.

If you go on location, and sell to your clients in their homes, you may want to check out the newest addition to the projector world.

The Mint V10 Projector is small in size, 125x55x23mm, yet projects up to a 50 inch image size. Perfect for tucking into your laptop case, and bringing it with you into the field.

Mindset Your Way To Success

I’m a firm believer in using mentors to achieve success in your life. Why create the path yourself when you can follow in someone else’s footsteps?

So anytime you find me relaxing by the pool, driving to a meeting, or with spare minutes on the weekends, I’ll either have a book in hand or be listening to an audio file on my iPod. (And of course lots of training seminars!)

I was introduced to a man a few weeks ago, and decided to listen to his tape series. If you believe in laws of attraction, you may be interested as well.

So last night on my way home to and from my Mastermind group, I listened to part 4 in the series by David Neagle. I’ve learned a lot from the entire series, but one thing he said made me stop the program, and sit and think for awhile.

And of course restructure it for my photographers!

wedding reception photographyThink for a moment about what brings you satisfaction with your business (or your dreams of starting a photography business.) Chances are it’s the artwork itself. You love using your camera to take photographs. You love looking through the viewfinder, knowing you’re about to capture a perfect image. You love opening the digital file, enhancing it, printing it, and displaying it for your customer. Your pleasure comes from the entire process of creating a work of art. That’s where your passion lies.

Now let me ask you one question.

How do you feel about selling your photography?

Did you just tense up? Did you think of a used car salesman? Did you think high pressure? Did you think that’s the worst part about being in business for yourself?

In order to be in business – especially if you strive to be one of my Six Figure Photographers – you have to get just as much pleasure from selling your work as you do from creating your work.

I remember one wedding in particular that Andrew and I did. We flew several thousand miles to attend a weekend long event. We attended the rehearsal dinner, and a full day at the wedding itself. It was nothing short of phenomenal. The bride and groom were ecstatic to have us there – photographs meant the world to them.

wedding ceremony photography We were the true professionals. And we knew each image we captured would be a treasure in their final album. We knew what to take, and how we would ultimately place it in each page layout. We let the bride and groom relax, and allowed them to enjoy the day without a lot of interruptions. We had guests tell us how beautiful the images were  – and they hadn’t even seen them yet! They just loved the entire process, and KNEW they would turn out perfectly.

Needless to say they did, and the bride and groom purchased a several volume set. Because selling was as important as the images themselves, and we sold constantly along the way with everything we did.

That’s being a Six Figure Photographer. Want to be one too?

Come To The First Episode of Six Figure Photographer

After months of talking about it, playing with podcasts and different Internet radio sites, and talking with “jillions” of people, I’ve finally scheduled my first episode of Six Figure Photographer.

We’ll be chatting about how to build up your photography studio and tips to turn it into a Six Figure success. Plan on joining us now – or listen in to the recording if you can’t make it to the show. And if you have any questions ahead of time, please email me. If I don’t get to all of your questions on the first episode, stay tuned to Episode 2!

See you on the show