It's Marketing Monday, plus we're doing a new episode today of "Mind Your Own Business." Our guest is one of the leading educators in photography, Lori Nordstrom. I was reading the advice Lori gave new photographers on her SCU faculty page and found one of her points perfect to kick off this week's blog posts. She wrote:
DON"T BE TOO EAGER FOR A STUDIO SPACE - So many photographers go through this whole idea of "I'll finally be 'for real' when I get a retail location!" Instead, really look at the value of what you have to offer right now! Find your value and then learn to communicate it to your client.
I know it's the dream of every photographer to have their own studio/office, but here's the point you need to remember - a retail location adds instant costs and pressure to your revenue stream. Your philosophy for business real estate needs to be the same as your philosophy about going full time versus part time. You don't want to do it until you can't afford not to!
Today, you've got a great advantage photographers didn't have twenty years ago - you've got the Internet and social media. You've got your website and blog to help you establish credibility when years ago, so often you really needed a full time studio location.
Over and over again I've seen photographers get obsessed with the need for physical space before they're really ready to handle the cost. Even the best of deals on retail space isn't to your advantage if you don't have the revenue coming in to support it. Instead, build your skill set, your reputation and your brand first. You don't have to let go of your dream for your own studio - just keep it in perspective so it doesn't become the kiss of death for building a strong business model!
Looking for inspiration on how to fulfill your dream of a studio? Read Cindy Harter Sims' guest post on how she turned her dream into a reality. She also joined me a few weeks ago on Weekend Wisdom. Then, join us today at 4:00 PM EST for "Mind Your Own Business" with Lori Nordstrom!
Check out "Why?" one of the most popular features on the SCU Blog. It's a very simple concept - one image, one artist and one short sound bite. Each artist shares what makes the image one of their most favorite. We're over 100 artists featured since the project started. Click on the link above and you can scroll through all of the episodes to date.