| The photography industry is competitive. There are a | | | | timely manner, a photographer should: Identify the |
| number of engaged persons who are energized to | | | | cause of the delay, communicate ordering policy |
| work long hours in the photography business because | | | | before the shoot, offer to keep images in an online |
| they absolutely love creating works of art. In order | | | | gallery for only a set period of time, and charge a |
| to succeed while competing with these other | | | | stocking fee for adding images back onto the web. |
| professionals, a photographer should develop a sound | | | | 3. Develop a clear path for accommodating growth. |
| business strategy. This article outlines several | | | | Will your business add capacity by hiring another |
| strategy tips a photographer should consider when | | | | photographer, outsourcing editing or some other |
| building his business. | | | | method? If a photographer does not think carefully |
| 1. Consider branching out to Newborn Photography. | | | | about this, he will find himself swamped with work |
| Newborn photography is a genre that is on the rise. | | | | and without the capacity to offer a quality product |
| Its popularity is growing almost everywhere in the | | | | to his clients. |
| United States, but particularly in Utah and California. If | | | | 4. Consider non-traditional methods of increasing |
| more established photographers in your area have | | | | revenue such as offering mini-sessions during slow |
| not yet moved into this area then perusing this type | | | | periods, renting out studio space to other |
| of photography may offer an opportunity to gain | | | | photographers and selling items in addition to prints |
| local market share in a growing segment. | | | | such as bags or purses with images imprinted. |
| 2. Watch your cash flow carefully. While in the long | | | | In order to compete effectively in the |
| run capital improvements may be a better return on | | | | ultra-competitive photography industry a |
| investments than holding cash or cash equivalents, | | | | photographer needs to develop a sound strategy. |
| your business will not be able to operate without | | | | The above are four areas a photographer should |
| adequate cash. To make sure cash is coming in in a | | | | consider when developing that strategy. |