Today, I’m talking about the NUMBER ONE mistake I see brand-new business owners make!
It’s a complex mistake, but I can best describe it as discounting someone else in the same profession and even discounting yourself JUST to jumpstart your business in the beginning..
Putting something like this on your website:
“I’m an enormous lover of natural light and prefer to work with clients in this type of setting!”
The is problematic because you are now pigeonholing yourself into being a “discounted photographer”, and becoming your business’ own worst enemy. And it could be because you likely don’t understand some of the expenses you will have as a business owner in the future.
When you start you need to ask yourself, what happens when your business grows, your skills widen and your expenses begin to double and triple to remain legit? You will have to have insurance, back-up equipment, money for taxes, etc. if you are taking any amount of money from clients! As the cost of doing business and living raises you will need to start expanding to accommodate more purchases for gas to drive to sessions, extra lenses, editing software, etc..
You will not be able to pay yourself if you never raise your prices. It’s just simply business math.
“As I start the journey of owning my own business I am offering a limited amount of sessions at a discounted price while I build my portfolio. Thank you so much for your support during this time!”
Then as you begin to expand you can still offer a discount if you really want to shoot something for your portfolio. This way you don’t get “stuck” at a certain price range without room for growth! I mean I still offer discounts for certain projects, but I am only able to do that by charging a fair rate for everything else.
If you are in the first few weeks or months of your business I really hope addressing these two mistakes can help you grow!