business model?

[VisConPhoto]

I just lost my job in Nov. and after 3 years after closing my studio I am thinking it might be time for a come back. But in this financial market we are in I am puzzled on my business model.

Right now is it better to be specialized or diversified.

[brad]

Originally Posted by VisConPhoto

Right now is it better to be specialized or diversified.

Depending on who you talk to... I've come to the conclusion that the answer is Yes.

[Cajungaltx]

Originally Posted by brad

Depending on who you talk to... I've come to the conclusion that the answer is Yes.

I swear - I hope I get into the same Texas School class as you... I am going to follow you around just to laugh all day...

I am of the Rich Dad Poor Dad mentality.... you want to be good in a wide variety of areas with specific areas that you are an expert in... so good enough to photograph anything and everything... but with the areas that are important to you, that you have a strong desire to photograph, so that you have a niche market.

Make sense? So in essence...what Brad said.

[VisConPhoto]

I worked for a photographer and videographer in the Beaumont for over 4 years and his model was so diversified that it drove my crazy. But he was good at making money. I just need to stop doubting my self, focus on the business, and attack it with every thing I have. The worst thing that can happen is I fail, but at least I tried again.

[Teddington]

The conclusion at Imaging USA seems to be: Shoot your passion (focus on what you enjoy most and shoot the best) and it will bring you opportunities in other markets. For example, if you shoot seniors you may be asked to shoot families, babies or wedding/engagements. If the job comes to you, take it!

[Cajungaltx]

The worst thing that can happen in my opinion, is not that you fail. The worst thing that can happen is that you quit trying.

[brad]

Exactly.. I specialize in headshots, but shoot anything and everything that comes my way.

[toverman]

It's most important in my opinion to have a plan, whether that plan is to be diversified or specialized. I think either one can work and be profitable for those who have a plan. If a job comes along that you don't want to do, say "no."

I came across this saying lately; it's fairly common but it was actually in a photo book:
"Do what you do – and do it well – and you'll have plenty of competition.
Do what you do – and do it better than most – and you'll command an audience.
Do what you do – and do it better than anyone else – and you'll have the world at your doorstep."

So if your diversified portfolio is world-class and really stands out, you'll be "the" photographer to hire!

[HotHolly]

At this point in time, I would say choose the method of being in business with the least amount of overhead and the most profit. Most photogs skip that part or think they MUST have a physical space. The physical space easily triples your overhead. You are better off spending your money getting new clients/ advertising/ marketing than on a room. Photography is one of the few businesses where you can start with very little and turn a profit right away.

I would find a model that appeals to you and that you understand. Then refine your style or offerings so they are uniquely you. And it doesnt have to be limited to the way you shoot. You can offer unique props, locations, clothing, lighting, products, heirlooms, etc.

And then, last but not least. Figure out how to sell and sell well. You sell from the moment you 1st come into contact with a client. That might be the phone, email, or face to face. Good luck!

[Tom]

I want to use the business models that Tracy Hicks uses.