Foto Focus Friday – Setting Your 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 admire, i dived into the materials i received at Me Ra Koh’s 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.  sure, i reflected on that question in a more hypothetical way when i was dating, for example =)  but i never had to assign a monetary value to myself or to my work.  i’ve always worked jobs where i’ve been told what i’m going to get paid, been 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, but went through this agony all over again when i knew it was time to raise my prices a little bit this month.  i think this was especially hard now that i’m a full-time photographer (it’s still so weird to say that).  i actually started crying during a planning session with Stephen a few weeks 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 him.  even though i tend to be the more logical and rational one, he has really taken on that role in regards to the business.  i get really emotionally involved and i’m having to work on not letting that get in the way of the fact that i’m running a business.  it’s one of the hardest things i’ve ever had to do, but i know i will be better for it.  and my business will be better for it.

this week, Stephen sent me this short blog post by Scott Bourne.  here’s the link to his amazing blog that i read everyday and highly recommend:  Going Pro

but since this post was so short, i’m just going to include it:

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.

happy friday!

xoxo

jess