8 Ways To Know If You Are Meant To Be A Business Owner

You’ve been dreaming of the day you’ll become a successful business owner. But do you really have what it takes? Are you really cut out for the entrepreneur path? Can you be taught the skills necessary to run a successful business – or is it something you’re born with?

A recent study reported on Inc says that if business students take as least two core entrepreneurship classes, that is enough to positively influence them into starting up a business later in life.

And while the study was conducted by analyzing students attending college and going for a business degree, I think the same applies to people in general contemplating a business, who decide to pursue a few classes to throw the odds into their favor.

Entrepreneurs are not born; they are taught. And the more desire you have in becoming a business owner, the greater your chances of success. Here are 8 ways you’ll know if the entrepreneur road is for you.

1. Your goal is to have a photography studio that brings in a full time income. I love the story Roy Disney told reporters on the opening of Epcot in Florida. They asked Roy if he was sad that Walt didn’t live to see the opening of his dream. Roy replied not at all: because Walt visualized the whole thing before the first shovel of dirt was turned. In order to meet your goal, you have to see your goal first.

2. You can discipline yourself. Can you easily set goals for yourself and accomplish them on schedule? When you don’t have a boss telling you what to do, you have to prioritize and make sure things get done.

3. You hate working for someone else. Yes, I know; the majority of people probably fall into this category. But if you dig deep down inside and ask yourself, “do I enjoy working for others?” you may be surprised at the answer. Some people truly like the normalcy of having a desk, co-workers, and a boss in the corner office. They like having a paycheck and benefits. And they really don’t want to have to make decisions and face problems that effect their well being every day. [Read more…]

Filed Under: Start A Photo Business Tagged With: business owner, entrepreneur, going into business, Photography Business, Photography Studio, start your own business

Starting Up A Photography Business Is Like Riding A Roller Coaster

by Virtual Photography

I’m definitely thinking 2009 will be the year of the entrepreneur.

Back in December, I wrote a post The Return Of The Entrepreneurs. And now just a couple of months later, I’m amazed at the number of emails from people truly wanting to take that next step, and open up their own studio.

Because I’ve been answering so many questions about starting up a photography business lately, I decided some of my thoughts would make a perfect post.

image source gypbrc.co.uk

My start into my own business
Back in the early 90’s, Andrew and I had a dream of owning our own studio, and earning our living through the studio. We both had full time jobs, and worked at the business on nights and on weekends. The jobs we did for the money. The photography we did because we loved it.

Obviously we started where most photographers do. We loved it. We’re passionate about it. And had dreams of it becoming our careers. We both come from 9 to 5 parents, so we were never exposed to the entrepreneurial lifestyle. We had no idea what we were doing, and took each step completely blind.

Our first big step was having Andrew go full time. After being downsized three times from three separate positions in three separate industries, we knew it was time. So we opened up a small studio, and took on every type of client that called.

But I still held on to my full time job. Corporate, 9 to 5, with a ton of travel.

Then along came my daughter. We chose not to do day care, and she became a studio baby. Because we were focused on weddings at that point, most of the people work came on the weekends, with occasional client meetings during the week. (And we even wondered if you could use your child as a tax writeoff because bride-to-be’s loved it that a father was caring for his daughter during the week while I was at work. We booked many clients because of it – and just kidding about the tax writeoff!)

Seven Figures? I’m still struggling with Six Figures

by Virtual Photography

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 sequence. 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.

Filed Under: Blog, Six Figure Photographer Tagged With: entrepreneur, Six Figure Photographer