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Today I want to share 2 quick thoughts on setting your photography prices!
I don’t know about you guys, but one of the hardest parts about starting my business was setting my prices. I asked friends, I researched other photogs that I admired, I dived into materials I received at a photography workshop. It still stressed me out!
Am I charging too little? Am I charging too much? How much am I worth? Now there’s a question I honestly never thought I would ask myself. I never had to assign a monetary value to myself or to my work. I’d always worked jobs where I was told what I was going to get paid, where I was told what I’m worth. And I’m not gonna lie, even though it may not have been enough, it was a lot less stressful!
I finally set my prices for the first time, and I survived. but I went through the same agony all over again when I knew it was time to raise my prices 🙂 I remember crying during a planning session with Stephen a few years ago. He asked me what was wrong. I was scared. I was scared that people were going to stop booking sessions because of my prices going up. I was scared we weren’t going to be able to pay our bills and we were going to end up homeless.
I’m a little dramatic at times. I’m so thankful for Stephen. Even though I tend to be the more logical and rational one, he really took on that role when we were starting the business. I would get very emotionally involved and had to work really hard on not letting that get in the way of the fact that I was running a business. It was one of the hardest things I’ve ever had to do, but I know my business is better for it.
Anyway, when I was going through my what-if-no-one-books-me-and-we-end-up-homeless breakdown that week, Stephen sent me a short blog post by Scott Bourne.
Since the post is so short, I’m just going to include the entire thing below:
Two Quick Thoughts That Will Help Your Photography Business
I’m not writing a long post today because I don’t want a simple but important message to get lost in all the noise.
The right people matter – that is today’s message. Let me explain.
One of the most common concerns I hear from aspiring professional photographers is that they are concerned about their prices being too high.
Another concern is that not enough clients are coming through the door.
Both problems can be solved by simply applying…”The right people matter” rule.
If someone tells you your prices are too high that’s malarkey. It’s not that your prices are too high it’s just that you are talking to the wrong prospect. The RIGHT prospect will say yes. It’s not about the money – it’s about the prospect.
Likewise, if your coupon, blog, Facebook and other campaigns aren’t getting you enough traffic, it’s because you are not talking to the RIGHT people. Change your marketing to more closely match your desired target audience – those are the right people.
Hence – the right people matter.
So simple, but so true.
Today, I encourage you to apply this truth in your own business. Try to stop worrying about things like your prices being “right” and start focusing on having the right prospects. You decide what you’re worth.
What is your time worth to you? Your time away from the people you love? We get to make this decision instead of having someone decide for us! How cool is that?!
Make your decision, choose to make it right, and remember…the right people matter.