Summary of "Actually Make Money with Photography"
Main Financial Strategies:
- Active Income:
- This involves providing services directly in exchange for payment.
- Common services include portrait sessions, event Photography, weddings, and commercial work.
- Key steps include:
- Create a menu of services.
- Research local market pricing.
- Build a Portfolio, possibly by second shooting for established photographers.
- Promote services through social networks and personal connections.
- Passive Income:
- This refers to earnings generated without direct involvement in the work after initial effort.
- Primarily achieved through:
- Licensing photos to brands.
- Retainers with companies for guaranteed availability.
- Selling Fine Art, prints, or Photo Books.
- The goal is to create income that allows for more freedom in choosing projects.
Methodology for Monetizing Photography:
- Build a Portfolio:
- Create a dedicated website showcasing your work rather than relying solely on social media.
- Determine Your Worth:
- Calculate a pricing model based on desired income and market research.
- Find a Suitable Pricing Model:
- Experiment with different pricing strategies (e.g., flat fees, day rates) to see what works best.
- Think Like a Business Owner:
- Track income and expenses, and analyze what strategies are effective or need adjustment.
- Hustle:
- Emphasize the importance of hard work and building relationships within the industry.
Conclusion:
The presenter, Dave, emphasizes that success in Photography requires both creativity and business acumen, along with a strong work ethic and the ability to foster relationships. He encourages viewers to be proactive and diligent in their efforts to monetize their Photography skills.
Presenter:
- Dave, Photographer and Videographer from the Bay Area, California.
Category
Business and Finance
