I bought my first camera in 2011.
I started my business in 2013.
I went full-time in 2017.
…and there are so many things that I wish I figured out earlier!
This new summer blog series is going to explore a few of the lessons it took me entirely too long to learn. Catch up on the rest of the series!
Part 1 | Part 2 | Part 3 | Part 4 | Part 5 | Part 6 | Part 7
Things I Did Right
All summer I’ve shared lessons with you that took me too long to learn. I hope some of those lessons might help you in your photography and business journey.
But there were a few things along the way that I did correctly from the beginning and I want to share those with you, as well.
To start, I had a contract early. Even in the portfolio building stage. I don’t think it matters if you are charging for your services yet or not, I think you should clearly outline expectations, deliverables, timelines, and limit your liability.
Get 20% off the contract I use!!
When I was ready to start my business, I registered my company as an LLC. At the time, I did this for the protection of personal assets. However, it ended up being a huge advantage several years later when I was able to file as an S-Corp for tax savings! As always, discuss with your lawyer and CPA on the best structure for your situation.
Another thing I did correctly from the start was to price my services profitably. From my 8 years in this industry, I’ve seen that it is infinitely harder to start with low prices and slowly hike them up (essentially having to re-invent your marketing strategy with every increase in price) than it is to set profitable prices at the beginning and establish an appropriate marketing strategy right out of the gate.
Not sure how to price yourself profitably?