Last week we shared some tips for starting a photo organizing business.
The first tip was: Love Photos & Stories.
Is it really that simple? Can a passion for loving photos and the stories they tell mean you should start a photo organizing business?
Yes.
And.
No.
Following Your Passion to be a Photo Organizer
You absolutely need to have a passion for whatever business you decide to start, but sometimes just knowing where to start is the hardest part. We created the Photo Organizing Business Starter Guide to help with this and interviewing other photo organizers might also serve you well. Understanding how to build a business around your passion goes hand in hand with how successful you will be.
Your Mindset around Money
One of the first things in building a business is to be honest about your mindset around money. Just because your spouse, or friend, or neighbor would not pay the rate you want to charge does not mean you are unrealistic in how you are valuing your service….it simply means they are NOT your ideal client. I promise you this is 100% true. And the hard truth is, no matter what you charge, you will be too expensive for someone.
Pricing for Profitability
It is by far the most uncomfortable topic for a new entrepreneur. You are excited about creating a business around your passion. You have been talking to friends and telling them what you are going to do and then they ask the dreaded question “How much do you charge?” Before you answer that question go to our income calculator for photo organizers, input your numbers and then do it again and again until you get a very clear picture that in order to be profitable you often may need to charge 3x or more the rate you first had in your mind.
So, does a passion make a business? No. Not by itself. When you use your passion AND embrace profitable business basics you will get started on the right foot to create a solid foundation for a passion-filled photo organizing business. We’re here to help you do just that!
I wish I understood the Money Mindset when I began a sales career way (way) back. It took some time to understand how my own money story influenced my sales confidence. Once I understood this (Sherra, you were imparting this wisdom back then too) it made all the difference in the world to my ability to sell!!
Lisa – I think it may be the single biggest obstacle in pricing and that once we slay this dragon, great things happen!! 🙂