_A Business Plan_

[int0xicatedxluv]

Ok I'm coming to you guys after a week or reading and not really knowing what on earth to do. I'm hoping maybe someone here can offer some direction!

:)

So I've been shooting for a while now. I shoot a lot of different areas. I havn't yet been pigeon-holed into one particular genre of photography. I really enjoy it all to be honest. When someone comes to me with a job, I take it. Although it's not very often. I still mostly shoot for free, and for FUN...

Recently I was laid off my job, and I've decided that while I'm living off unemployment, I should probably take this time to get my photo biz off the ground, so that I don't EVER have to go back to cubicle land.

I feel like I have the talent to make this happen... but the business side, I'm TOTALLY lost.



I know that I need to create a business plan. But how?
And can I do that without spending MONEY?
I keep seeing things online about buying the paperwork etc for a business plan....is that the best way? Do you guys have any ideas?

Also - I've been reading about the differeneces and benefits between getting LLC'd...or just getting a tax ID and registering my business name.

Can anyone offer any insight as to what they did, and what they prefer??


and here's my big question...

MARKETING.

I've GOT to bring in business, obviously, if I'm going to make this a business. Most of my clients come to me from word of mouth. Which is fantastic...but I need new clients, and consistency!!

Any help would be fantastic guys!!! :D Thank you so much!!

Sincerely,

A Wannabe Professional Photographer

[int0xicatedxluv]

ps - I do already have business cards :)

[smmokan]

Why do you need a business plan? BP's are only necessary if you're trying to get money from an outside source... otherwise, as long as you know what you'd like to do and how to go about doing it, it isn't necessary. It might help give you guidance and write out your intentions- but there are other ways to do that.

The marketing side of the business is the important piece- figure that out and you'll be on your way. ;)

[int0xicatedxluv]

hmm interesting thought. my local photographer friends have been telling me that I need a business plan so I just figured thats what I needed! haha. I guess maybe not! :)

[Concretin Nik]

You need a plan. It doesn't have to be pretty or formal, unless as stated above, you're getting 'investors' or loans.

Hit your local library and/or the local branch of the Small Business Association. Tons o' help. Free o' charge.

The business "prep" isn't much fun (working on it myself now for a spring full on gung ho roll out), but I believe it's well worth the effort. I'm sure it would be much harder and much less fun later on, taking time and focus away from (and adding stress to) the cool part, taking pictures.

Also, keep in mind, the word of mouth advertising you're getting now, is irrelevant to your photog business... why? because you've been shooting for free... the people referred by your freebie clients are going to be expecting freebies too... I'm not saying that hasn't helped you progress and build a portfolio, but be prepared to get flabbergasted looks when you say, "Sure, I'll shoot that. Here's my fee."


disclaimer - I am but a lowly GWC(on a stick)

[int0xicatedxluv]

haha. great advice. luckily its my 'PAID' shoots that are word of mouth, and I am charging them.

It's mostly my fashion and model shoots that I do for free, just becuase I want to.

I'm hating this business prep stuff with a passion but I suppose I have to do it.




I do have a question about an LLC that maybe someone can answer.


my credit isn't all that great, recovering from some early 20's screw ups still, and getting credit established in my name is next to impossible right now.

Under an LLC, am I able to get credit in my companies name?? Ie - for photo equipment?

I've been reading up about LLC's but havn't found an answer for that specifically.

[tracknut]

I'd say it will be virtually impossible for you to get a loan under a company's name rather than your own. It's almost impossible under normal circumstances, and we are in a Credit Crisis, you know...

Dave

[drtidefan]

The business plan is supposed to be a way for you to lay out your business on paper before you actually open your doors to determine if your business will be profitable. Having said that, you don't need a BP unless you plan on taking out a loan to start your business. Keep in mind, if you really want to be taken seriously, you'll need gear, a professional website and marketing. All of which cost money. If you simply want to use the gear you already have and the website you've already developed, you really don't need a formal business plan. You do however need to have a plan.

The SBA has some really great resources to help you start your business. You really should check them out.

Dennis

[ShotByTom]

You have to understand the business side of photography if you hope to live off the proceeds of it. Your first business class will tell you that you need a business plan to determine if your plan is feasable and to map out your future. Without one you'll wander through the next few years drifting and wasting a lot of money. Spend some time on Google, there are tons of resources out there for you.

[Mark1]

I would write a business plan out. I would not bother polishing it and making it pretty. But It simply forces you to answer questions you have before you even open the doors. Such as your marketing question above. A buisness plan does not necessarily have to "dot the I's, and cross the T's" and be that indepth, But is should be able to guide you in a direction that will make sense.

[ScottKCooper]

www.score.org - this is an association of retired business professionals who help folks with all of the questions you have above. You do need a business plan, and it needs to be based in reality. I had one for my failed business, and looking back, I just made the numbers work - had I really done my homework, I would have seen clearly that I should not have commited to the business endeavour. Now I'm working 2 jobs trying to pay it off. I am looking into photography and web development as a source of income, but this time I am taking my time. Until I got disgusted with my failure, and pitched the books, I had read up on creating business plans, forming an LLC, raising funds, marketing, etc. etc. I did NOT go to SCORE. That would have been the reality check I needed to regroup and avoid that failure. I will do things differently this time, and while I'll be working 2 jobs - they will both be things I enjoy, and I'll cut out the current 2nd job (not my cup of tea, but you've got to do what you've got to do). I rambled, sorry.

[ScottKCooper]

Oh, and don't go into debt for more equipment - take jobs you can pull off with current gear, or rent what you don't have for a particular event. Keep your overhead way down (expenses you can control, verses fixed expenses - the ones you cannot control). Look into business insurance. Get contracts lined up - all of that boring stuff you need to do along with taking the great shots!

[Naturalist]

don't go into debt for more equipment

Best nickle's worth of free advice!

I would do what I could to get the income flowing and, at the same time, get to work on a plan. You need a plan so that your ducks are all lined up and there are very little surprises.

In the plan you will also identify such things as your competition, how much they charge, their target markets and their strengths and weaknesses. You'll be looking at yourself in greater depth and identifying all your needs to please your clients and, even if you do not need a plan for a loan it is still good practice to go through a BPlan once a year to assure you are adapting to the changing market.

I would begin by taking a day and just working your business backwards. By back planning you will identify what needs to happen before the step you just listed can occur. Back planning has helped me to see where the holes are as I work it step-by-step. Once complete, you'll have a better vision of what it takes to get your business rolling in a profit oriented direction.

[int0xicatedxluv]

Great advice everyone, thank you so much :)
i've spent the last few days really envolved in all of this stuff, and started working on a marketing plan.

it's all starting to make sense, amazingly enough. lol

[Mark1]

it's all starting to make sense, amazingly enough. lol


It's like any other big project. Way to many things to think about at first, but the farther you go the more it falls togather.

[Karl Johnston]

The best irony you'll learn is you operate more effectively if you stop treating it like a business.

[airfrogusmc]

The very first thing you need to figure out is what you're going to be. You will be hard pressed to come up with any plan before you figure out who you are as a photographer. Not to say that won't change over your career or even shortly after you start but thats the very first step you have to take. Its what will drive your plan.

So figure out not only what areas you will focus on but then what market you want to attract. Then see what others are doing and figure out a way that you can bring something fresh or new to the mix.

The way I see it is you can't even start until you know what you want to be or who it is you are.