Strategy Avenue

Differentiation and Acceptance

Happy Holidays!  I hope you had a wonderful Thanksgiving and you are enjoying your Holiday Season.  We are having a lot of fun in the studio, even despite my request to play cheesy Holiday music every day!  :)

A recent little situation I encountered brought up some strong feelings I have had about business competition for a long time now.  I don't frequent too many blogs just due to time constraints, but every now and then something will come up on the twitter feed or facebook pages that address what other photographers 'should' or 'shouldn't' be doing.  Lots of evaluating!  This, of course, is based on what that particular person finds acceptable as a result of their education, training, experience, beliefs, style...  I have found this really interesting to me, because the worst thing that could happen in the photography industry is a sea of sameness by everyone following the same formula.  The most important thing for anyone do for their business is be  different.  So... another photographer has a different style, approach, or philosophy?  That is awesome!  It gives you an opportunity to differentiate yourself in the market.

Does a formal approach make you different? Great!  Find traditional, formal people to purchase your photography.  Do you love dramatic, fashion-y photography, or natural, editorial styles?  Work it. The worst thing we can do for this industry is say this is the 'standard' for how things 'should' be. Have you won lots of PPA awards?  Awesome.  You worked hard for that! Make that something that differentiates you.  To me "great work" is work that you and your clients find meaningful, and whatever path you take to get there is admirable. 

In my experience it's important to have acceptance around the idea that what makes us different, is what makes us successful.  Different customers like different styles... good thing for us!  So be confident, and proud, in what you stand for and the path you have created for yourself.  Try not to doubt yourself, be jealous, or worry that because someone has an approach that you don't - that they are somehow undeserving.  This philosophy is counterproductive to achieving your goals and dreams.  Instead, know what exactly you want and how you want to get there - and try enjoy the journey on the way!

Living the Dream Workshop

I would like you to share with you my newest workshop that I am very excited about called Living the Dream in Denver this February. 

The concept of the workshop is to teach share our approach the entire lifecycle of a portrait starting with marketing to the right customer and pricing theory > to the booking process > to the pre-consultation > actually taking the photos > processing them for sale > presentation of images > production of the order > presentation of the order.  Each step will be gone over in great detail.

This is a unique approach to workshops that shows how high revenue studios operate.  Many workshops teach art, or maybe pricing, but we are sharing during this time our secrets behind being two of the highest grossing portrait studios in the country (according to PPA).

My workshop partner, Kimberly Wylie, is a hidden gem in the portrait photography industry.  Not only has she recently won best in Dallas with her unique artistic talent but she also has had the highest single portrait sale of anyone I know... 55k in one order.  When I learned that, I knew she had a lot to share about running a business as a mother, artist and entrepreneur.  She is friendly, very high energy, and extremely warm.  It's no doubt why her clients love her!

Kimberly, myself, and Kimberly's business partner Jessica will be taking turns with each of the segments based on our greatest strengths and we will be teaching to the entire class at the same time.  We are also privileged to have Carrie Sandoval and Brittany Woodall from Baby as Art to join us to be part of the photography section with a live newborn photo shoot.

The group will be limited to 40 and we are currently half full.  For more information please visit www.livingthedreamworkshop.com

And just for fun, here is a straight-up-real-no-PS photo of the three of us (from l to r Kimberly, Jessica and me) this summer in Dallas coming up with the content for the workshop:

PhotoPrice for the iPhone

Ahh... how I love the fall! The crisp air, the crunch of leaves under or feet, clothing that keeps us warm - fall has arrived in the Northeast and all the busy bees at Laura Novak Photography are creating magic for all of our beloved customers.  I hope that you are enjoying the end of 2009 and are working towards achieving all your goals and dreams.

Speaking of goals and dreams - time after time when I teach photographers at different workshops pricing is always a common question and concern.  It's for this reason that I have launched just PhotoPrice for the iPhone, the first and only iPhone application to help wedding and portrait photographers price their services.  It's just $5 and a great way to learn a little bit about pricing and manage your price list at your fingertips!

You can see a virtual tour of PhotoPrice at www.photopriceapp.com.  If you have questions about the app be sure to visit our support page and download the PDF manual which will help you with your purchase. 

To purchase PhotoPrice in the app store please click here.  Below are a few screen shots of PhotoPrice which you are welcome to blog about and spread the news to all your friends.

 

 

your personal Advisory Board

Earlier this year, I found myself in a little bit of a quandry.  When I first started out I used to go to conventions and workshops where I would learn a lot, and soak up lots of amazing information.  But in the last few years I had a hard time finding educational resources that challenge me.  I have stopped attending photography industry workshops or conventions all together, unless I am the one who is teaching.  As one of the highest grossing studios in the country (according to PPA), we are naturally driven to innovate and challenge... most of which happens internally within our team during staff meetings.

But I knew that as other small businesses are concerned, I still have plenty to learn.   The largest photography studios are very small in comparison to most small businesses when it comes to total revenue, marketing reach, staff size, and the challenges that come with increasing all of those aspects of a small business.

A friend made a suggestion to me to start an Advisory Board for my business. An Advisory Board is composed of people with a genuine interest in your business and a desire to see it do well.  Two to three people is sufficient for an Advisory Board for a small business, but I chose four.  You may wonder where to find people who would be willing to help you but there are many recently retired executives and managers who might be interested. Many of these people may be in your client base, neighbors or family friends. You might want to think about people you know or vendors you use (since they have a vested interested in seeing you be successful). Choose people you admire that you think you will be able to develop a relationship of trust with. There's no harm in asking, and you may be pleasantly surprised when they accept.

Everyone I asked has businesses much larger than mine, and I was really surprised as to how honored  they were to be asked to be part of the group.  Here's a quick overview of how I structured it:

• no compensation but I will most likely provide a small thank you gift at the end of the year
• everyone signs a non-disclosure agreement so you can share finances and strategies freely
• quarterly meetings, and I will prepare a written overview of what is going on for the business to review before we meet

You need to be prepared to be completely open and frank with your Advisory Board, sharing both your hopes and your fears. They won't be able to advise you properly or well if you hold back.  The key to an Advisory Board is to surround yourself with people who will not let you fail.

If you have a completed Strategy Avenue business plan, this is the perfect thing to give your Advisory Board as they will most likely want to see your business plan in order to help you.  I update my business plan every January so that is what I will be giving the group before our first meeting.  I have found already that my Advisory Board's desire to help me is so inspiring, and I have already learned so much from the little time they have given me.

Laura

watch who you follow

Two posts in one month for strategy avenue, I must say is pretty good for me.   Right now I've been taking some vacations, chilling out a bit before the big fall rush which always puts me a strategic mindset because I have time to breathe and think.

An email that came across my desk today really made me think.  In this fast paced flurry of marketing emails, articles, features, news programs about the latest, greatest, newest, most successful... the biggest piece of advice I can provide to anyone looking to achieve their dreams is to watch who you follow.  Keep an eye on where that person came from, what they are doing now and what they have accomplished in the past.  Follow only those from whom you see consistency.

A positive example of this is my friend Sean Low's Business of Being Creative blog.  Not only does he provide great content that every creative business owner should be reading, but he has the real experience to back it up.  Before starting his blog he was president of one of the most recognized event design brands in the world, spearheading activities ranging from establishing international partnerships to creating internal financial processes.  He is the real deal.

On the flip side, I receive a piece of marketing email spam almost daily from a woman-focused entrepreneur organization filled with rah-rah-go-girls go-us follow-your-dreams-you-all-you-need-is-hope-and-high-heels rhetoric.  Upon a quick Google search one can discover that those involved at the leadership level have little experience running small business or tried uncessfully - therefore starting this venture instead.  I find it a bit insulting that they believe women, so caught up in their own estrogen, would buy into it.

The bottom line is to watch who you follow, yes - you can't always know the behind the scenes of a business but I encourage you to use your gut feeling.  If something seems too good to be true, don't be afraid to question it.  For example, if someone is teaching how to get clients and you go to their blog and see no evidence of having clients (or ever having them in the past) - you might want to appreciate the positive things they offer but consider an additional source of information.

Mentors are wonderful people to have in your world, and it's wonderful to look up to those who you feel have achieved similar goes to the ones you would like to achieve.  But ultimately, I believe you are fully capable of creating your own path taking snippets from those who have background and experience combined with your own personal talents and aspirations.

Laura

deciding on the decisions

I realize it's been a while since I have updated this blog and I'm not going to provide the cliché reasons like I've been busy, I'm traveling or that squirrels have taken up residence in typepad.  It's mainly because I simply post here when I have something interesting to say about running a photography business and wait until I'm inspired enough to post something.  So don't take me of your google reader quite yet... be patient and the posts will come.

An old friend posted this video on his facebook, and despite my mild obsession with TED videos I had not yet seen this one.

Although I'm sure the paradox of choice being considered here is more oriented towards issues of social values, I couldn't help but think about how it also applies to business.

While watching it, I was reminded of a workshop I taught in the Midwest a few years ago.  After the workshop took place a few attendees paid extra for one-on-one time with me and the fee went to charity.  One of those who signed up was a lovely woman with a quiet demeanor and very strong newborn work.  She enjoyed the photography portion of her business but struggled in the sales process and felt like her clients couldn't make decisions about what to buy.  I inquired to learn more, and then asked to view her price and product list - at which time she revealed a beautifully produced 18-page pricing guide.  To me, this was the basis of her business challenges and we spent most of our time together talking that through.

I think many photographers mistakenly believe that they are being helpful when offering anything and everything so that clients have as many choices as possible.  I think we often forget the amount of choices that our customers are faced with in their daily lives: brides must not only choose the photographer but the cake, and the cake flavor, and the filling for the cake flavor, and the flowers, and the color of the flowers, and never mind the dress... you get the idea.  Consumers of family photography must not only choose which photographer to go to but also where to send their kids to daycare/camp/school, what to have for dinner, and which car seat is the safest.

As professionals it's our job to narrow down the choices to what we believe our customers will enjoy the most - and edit out anything that will make the decision making process overwhelming.  Not every customer at Laura Novak Photography sees every product we offer, we make recommendations after first listening to the needs of each individual and providing a few options accordingly.  When editing, we only show a limited number of images - the very best ones.  One of my employees astutely observed one time "if I can't decide between two images, how can I expect them to when it's their own family."   In the new studio, all of our products/albums/frame samples are stored in a closet attached to the sales rooms and we only pull out the options that would work best with the style of their photographic coverage when meeting with a client.

Overall, I believe this increases customer satisfaction at Laura Novak Photography.  I have never had a customer complain at the lack of variety of photo choices, or product options.  Clients decide between the choices provided, promptly enjoy the photographs in their homes, and happily move on to the many other decisions required of them in their lives.

sinking decisions and sunk costs

The past few weeks have been a whirlwind of time and energy spent on setting up the new studio I purchased for Laura Novak Photography.  Contractors, flooring refinishers, painting quotes, ordering furniture (including some great finds on ebay!) have been a huge part of my day in addition to my normal daily responsibilities at Laura Novak Photography.

A few people have asked why I am moving again, when I spent so much time and effort on my current space.  Emotionally, I love 1905 Delaware Avenue (where I am now).  I put my heart and soul into the building and our location plays a large part in we grew so fast.  The amount of effort I put into my current space certainly made it challenging when faced with the decision as to whether or not I should buy a new building.  In order to make the decision, I had to take into consideration the principle of sunk costs.

Wikipedia states sunk costs as: costs that cannot be recovered once they have been incurred. Economics proposes that a rational actor does not let sunk costs influence one's decisions, because doing so would not be assessing a decision exclusively on its own merits. The decision-maker may make rational decisions according to their own incentives; these incentives may dictate different decisions than would be dictated by efficiency or profitability, and this is considered an incentive problem and distinct from a sunk cost problem.

For example, when one pre-orders a non-refundable and non-transferable movie ticket, the price of the ticket becomes a sunk cost. Even if the ticket-buyer decides that he would rather not go to the movie, there is no way to get back the money he originally paid. Therefore, the sunk cost of the ticket should have no bearing on the decision of whether or not to actually go to the movie. In other words, it is a fallacy to conclude that he should go to the movie so as to avoid "wasting" the cost of the ticket.

Such is true in business.  How many times have you made a decision based on money or effort you have already spent?  It's important to try to separate emotion from these circumstances, as the costs are in the past and have nothing to do with decisions to be made in the future.  Such is the case with buying the new studio shortly after moving into one three years ago.  When I ran the numbers on buying the building and moving, versus staying in my current space and renting it made more sense to move based on long term benefits.  

So while I am sad to leave my current space that I spent so much time and money on, the theory of sunk costs tells me that those investments are sunk and they have no bearing decisions to be made on the future of Laura Novak Photography.  And because of what I believe about our vision and mission, buying a space provides us with the long term stability and room for growth I see in our future.

Consulting Case Study 2: Destination: destination

Although many of you may not have the opportunity to take part in my consulting services due to the waiting list, I thought it would be helpful if I shared some tidbits from the different observations I have had in the event it will be able to translate to anything you are struggling with.  Feedback, comments are always welcome!

One of the three recent consulting clients I had in January is a destination wedding and portrait photographer, located in a beautiful resort area with a lot of fast successes and a busy business in which both her and her husband work.  Her husband is an artist and over time it would be nice for him to pursue his creative endeavors but in the meantime is assisting his wife to get things moving along.  She has a strong average sale history, but wanted to think more about how to be more effective in her sales process when catering to people from a distance.

Destination portraits and weddings are always a challenge - for my own studio many of our clients are not in Delaware and we have to adjust to that with different ways of letting people know what is available.  Depending on the product line, we offer multimedia demonstrations, online galleries and print pieces that we mail out giving people new ideas of what they can do with the photos.  Overall, it's really important to let people know what you have to offer well in advance.  For weddings, many people spend their budget and if they know that there is this fantastic canvas or bridesmaid's gift they want to order - letting them know way ahead of time is a great way for the client to think about the product and have time to prioritize it in the budget.

'Destination: destination' also had encountered a little bit of trickiness that I can relate to very well - she feels fairly un-welcomed by the photographers in her town, particularly those who have been established for a while and are feeling territorial.  I love this industry for many reasons, but one of it's downsides is there is a lot of judging between photographers.  Some examples might be who think those who rise to a quick success in weddings haven't 'paid their dues,' while traditional wedding photographers who have been in business for a while might call a young talent inexperienced and under skilled.  Young photographers may look at long-standing traditional studios as stodgy and elitist artist type photographers look at good marketers and business people as not true artists (what bs!).  I have seen it, heard it, and even experienced it both while speaking as well as running my studio here in Delaware.  I just ignore the negativity of it all.

The reality is that the only person who is a position to judge is the customer.  They have to buy the photography, and they have to like it!  If a photographer has paying customers, they are clearly doing something right.  So if this is you - kudos!  If you are feeling judged or attacked, just know that is fairly normal, don't take it too personally... the attacker is jealous and isn't someone you'd want to spend time with anyways.

There were many other aspects to the conversations I shared with "Destination: destinations?" but here are just a few that I thought might be helpful to you in your journeys.  Consulting services are available on a wait-list basis and have limited availability per month.

Consulting Case Study 1: I moved! Now what?

Although many of you may not have the opportunity to take part in my consulting services due to the waiting list, I thought it would be helpful if I shared some tidbits from the different observations I have had in the event it will be able to translate to anything you are struggling with.  Feedback, comments are always welcome!

One the three of my very first consulting clients is a lovely young photographer who moved from the east coast to the west coast, trying out new ideas and enthusiastic about her life ahead.  She is newly married, and looking for some general direction about how to get started with being successful as a wedding and portrait photographer.  Much of her work, so far, has been centered around weddings and that is where a majority of her revenue comes from.  Eventually, she would like to have a studio storefront in a cute area of her new hometown downtown and work full time as a professional photographer.

Sometimes when the landscape is wide open, that can feel as confusing as when your choices are narrowed down to just a few specific decisions.  I encouraged "I moved: now what?" to think about her long term personal goals, and helped her to break down those goals into specific things she can be doing now to be where she wants to be in 3-5 years.  Even something as simple as "I'd like to book 30 weddings at an average of $3,000 by the end of 2009" is a helpful goal to have as a sticky on your computer or near your desk, so each day you know what you are aiming for.   Remember that goals should always be SMART:

Specific
Measurable
Actionable
Realistic
Time-oriented

And I find goal-setting, in general, is something that most photographers forget to prioritize in the midst of web redesign, lightroom, branding, and new lenses.

Also, when moving to a new area it's always important to try to network with other local business.  A chamber of commerce, small business association, charity drive and even just getting out of the house with a laptop and going to the same coffee shop every day will help you meet more regulars.  The most important thing is to 'get out there' because you no longer have the family and friends network of your hometown, which most people underestimate but is very powerful to have as a business owner.

There were many other aspects to the conversations I shared with "I moved: Now what?" but here are just a few that I thought might be helpful to you in your journeys.  Consulting services are available on a wait-list basis and have limited availablilty per month.

Strategy Avenue Consulting Feb. now available

I have had such a great time with the fantastic people who hired me for consulting services this month, that I have decided to extend this offering into Feb.  I honestly am not sure how many months I will be offering consulting services, but for the time being it will be available month-to-month as long as I have time and it fits into my schedule easily.

For February I have changed this up a bit.  The consulting package is:

- two 60-minute consulting calls* with one week apart
- one Path to a Business Plan Strategy Avenue set if you do not have one already
- fee is $500 which must be paid before the first phone call

- not available within 100 miles of Laura Novak Photography
- please send me price lists, marketing pieces, and what you want to get out of the session before our first call

* please note you call me at the studio so I don't have to keep track of everyone's time zone!

I am very much looking forward to learning more about all of the amazing people out there!  The first four people to contact me in Feb. at info at strategyavenue.com will get the four slots available.

Laura

Imaging USA

I'm so sad that I won't be attending Imaging USA this year for a few reasons.  The first is that I have a really big celebrity wedding in Florida on January 10th, and trying to get from Florida to Phoenix to home within a matter of a few days in the midst of purchasing a new building is enough to make any sane person insane in the membrane.  Sometimes I find this business is a matter of recognizing that we can't always do everything, and being at peace with it.  

The second is that PPA is smart enough to rotate speakers from year to year, so there is always fresh material.  Because I gave a platform last year, I am off this year and will be back in action in 2010.  In the meantime, I have some wonderful friends giving great seminars.  A few of them include:

The Client Experience Workflow: Connection, Capture & Post Processing with Jesh De Rox and Tamara Lackey. This is a fantastic combination of two people with heart and soul and a great business to match.  

Sales and Customer Service with Julia Woods.  Julia is, hands down, the best instructor of sales I have ever met.  She is articulate, clear and FUN.  I am amazed by her every time I see her, and cannot recommend this class enough if you are having a tough time with selling.

The Joy of Pricing with Sarah Petty.   If you have ever met Sarah Petty you know how fun, energetic and just overall fabulous.  She is teaching several workshops at Imaging and if you can see her, I highly recommend it!

I a sure that there are many others on the bill who are excellent, these are just a few people who I have seen speak personally and believe that they have a lot of wisdom to share.  Take lots of notes from Anne Geddes for me and I'll see you at WPPI and Imaging in 2010!

Laura

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Engage 09 : something blue

Last year I made a last minute decision to go to a little symposium called Engage 08 in Orlando and met some of the most wonderful people in the wedding industry I had ever met.  Not only were they incredibly successful, but also incredibly genuine and approachable as well.  Through that one day I have formed great relationships that I am positive will last a long, long time.  

What is really different about this summit is not only the great relationships the organizer, Rebecca Grinnals and her lovely associate Kathryn has.  But it's also the positive energy, can-do attitudes, humility and genuine concern for others that they offer - which as you know can be rare in this competitive world we live in.  They inspire me so much.

So... I'm thrilled to be part of the next Engage and am incredibly honored to be a speaker.  Check out Engage 09 for more information!

1to1 consulting from Strategy Avenue

In the past year I have gotten a lot of requests to assist people with individual consulting services and have often turned down the offer, wondering what I would charge, how to fit it into my schedule and how it would function.  I really do enjoy assisting other photographers but am a pretty planful person and like to do things well, so I really didn't want to get on the phone with someone and 'wing it.'  

After some thought I have decided, as a trial run, to offer the following Strategy Avenue individual consulting services during the months of Jan-March.  Here is the deal:

- The package will consist of three phone or ichat/isight meetings three weeks in a row.  After each meeting you will have homework (don't worry it will be fun!) to complete for the next week.

- The first conversation will talk about goals/vision, the second one will talk about marketing and the third will talk about costs. The Strategy Avenue path to a business plan is not required but helpful to have.  If you have specific problems you are struggling usually they will emerge to the surface from a bigger overall problem related to these topics.

- The cost for all three individual consulting sessions is $500 paid up front the day of the first 'meeting'

- Session availability excludes those living within 50 miles of Wilmington, DE

- Your progress will be showcased on this blog as a short 'case study' so that other people can learn from what you did.  If you want me to use fake names in the case study, I have no problem doing so or you can use your real website.  Either way is cool.

I have intentionally priced these on the lower side of things (in my photography business I charge about three times as much an hour for my time) but I wanted to make the pricing accessible to a photographer who needs help.  With that said, I am only taking on three people a month so the first three to contact me at info at strategyavenue.com will be eligible for January. 

Looking forward to hearing from you,

Laura

UPDATE: I JUST FILLED OUR THREE PEOPLE FOR THE JANUARY SPOTS.  PLEASE EMAIL TO BE ON THE WAITLIST FOR FEB.  THANKS!

buck the trend

I know I haven't posted here very much lately, simply because my focus has been on some new and exciting things for Laura Novak Photography. But I wanted to share a few tidbits of what I have been up to, and my reasoning for it in the event it might help others who are struggling with expansion vs. the economy right now.

I remember my first job was as a consultant the Bose Corporation out of Boston, and at each executive board meeting Dr. Bose would say "when the world goes left, we go right. When everyone goes right, we go left." I always remembered that in my business and throughout my career as a photographer I have intentionally always tried to buck trends.

This carries on to today, when just last week I bought a brand new two-story building for our studio just down the block (pictured above). Despite all the work I did on our leased space just three years ago, which you may have also remembered it featured in Professional Photographer and Rangefinder, I am thrilled to make the move this March. 

Just as people are cutting back, and sitting tight we'll be making a big splash with the building purchase. If you have the means and nothing to sell (because you are renting), I highly recommend considering a building purchase because:

- This is a great time to buy. I ended up purchasing the building well under asking price, and the sellers were glad to have a buyer.

- All the building, painting, flooring contractors are very slow right now, and they are willing to negotiate for work. This has saved me quite a bit.

- The US govt. is under pressure to lend to small businesses to stimulate growth so I applied for and easily got a 504b small business loan with a lower interest rate, smaller amount down and longer loan terms (for a lower monthly payment). Every bank has the ability to partner with the government for a 504b loan so be sure to ask your bank rep. about the program.

As a result I am safely expanding with minimal increase in my monthly payment into a new building I could not afford to purchase under 'normal' economic conditions. Obviously I would not recommend going into debt if your business as failing, but if you have a busy thriving profitable operation it's something worth considering.

I also have a new twitter series starting called 'adventures in buying a building' so if you twitter, be sure to follow along @lauranovak.

Laura

Learnfest 09

After a hugely successful Learnfest '08, I am thrilled to announce Learnfest '09 with my fabulous co-presenters, Audrey Woulard, Lena Hyde and Tamara Lackey. This will be the *only* workshop that each of us will teach next year...so if you love these talented ladies like I do, you may want to jump on this opportunity.

You can view more details on the learnfest website and be sure to see "the buzz" section for what our '08 attendees are saying!

The program was aptly named, built as a true learnfest for portrait photographers who are ready to take their business to the next creative and strategic level.  Join us for an amazing 3-day/3-night learnfest that runs from April 6-9, 2009 at picturesque, Chateau Elan, located in the serene and picturesque Georgia countryside, just 40 minutes from the Atlanta airport.

Experience in-depth instruction on shooting, post-production, marketing, business strategy, revenue generation, and studio and daily workflow.  Redefine what success can mean in the portrait photography business.  Interact in small groups of 15, meeting with each instructor throughout the course of 3 days as part of an overall program that is tailored to deliver a comprehensive leaning experience for the portrait photographer.  Network with other photographers from around the world, in addition to the hosts, in an environment built to encourage sharing and connection.  And offer yourself the opportunity to completely focus on improving your skills, your business, and your future in photography in an environment that fully encourages you to step away from the pace of every day work/life.

Given the high level of interest we've received to date, we expect all spaces to sell our quickly again this year, so if this does sound like a fit for you, we'd encourage you mark yor calendar for November 15th when we open registration!

PPA Charities

As imaging professionals, we touch the lives of others every day…by being part of someone’s wedding day, capturing a child’s personality, helping businesses succeed and so on. Extend that personal touch with PPA Charities and become a force of positive change.

To learn more about family portrait month, click here!

The economy

It's been a while since I have posted here on Strategy Avenue, mainly because I have been busy speaking at wonderful sold-out like Learnfest and ImageX and focusing on the photography business.  But don't unsubscribe your RSS feed because from time to time when I am inspired by something I will be coming back here and create a new post!

At my workshops I am being asked the same thing by every participant.  "What about the economy?  Should I be worried.  My sales are down, what should I do?"  Fortunately at Laura Novak Photography we are busier than ever and since I am a glass-half-full kind of person let me talk a little bit about why I am not as concerned.

1. People living within their means is good for photographers.  There was a time when people who were making a combined household income of 100k could get a mortgage for a 800k house and be house-poor.  Right now we are seeing a temporary shakeup but after that people will be forced by the banks to live in a home they can conservatively afford.  This is great news for non-necessities such as vacation resorts restaurants, spas, home decor and of course photography as this will result in more available discretionary income.

2. Quality trumps price.  The photographers I see struggling the most right now are once that have tried to compete on price.  If you have ever gone to one of my workshops you know how strongly I feel that is a bad idea and a fast-track to going out of business!  The ones that are still doing well have great relationships with their clients, and that relationship continues to drive sales.

3. If you have good credit, banks are still lending. The news reports are very doom and gloom but if you want to purchase property or expand your business, now is a good time to do it!  It's a buyers market for real estate and the small credit and savings banks with no sub-prime mortgages on the books are still lending with low rates.  Right now we are in the process of purchasing the building I leased three years ago.

Most of all, try to turn off CNN or the Today show - I try not to psyche myself or my staff out by the doom and gloom media reports.  I am a big believe in that whatever you expect to happen will become a self-fulfilling prophecy so be sure to keep your mind positive when you are navigating this tricky economic landscape.

Laura   

what makes an artist timeless?

Last Saturday night I joined my husband, John, along with about 18,000 other Neil Diamond fans packed in at the biggest concert venue in Philadelphia called the Wachovia center.   There were so many people there, fans were sitting behind the stage to which Neil quipped "I heard a nasty rumor that people actually paid for those seats."

Neil's management team actually had to add on a second concert on Sunday night because of how quickly he sold out the Saturday.  When we arrived I looked around us to the full stadium of people ranging from young kids, to college students, to elderly couples hobbling by me with their walkers, and then next to me where my beyond thrilled husband (a life long Neil Diamond fan) was clapping enthusiastically.  The first question that came to my mind was "what makes an artist timeless?" 

I tried to think about how some musicians may have a hit record and then never be heard from again (or show up on E! Hollywood stories fifteen years later) and others have a fan following that allows them to tour to packed out audiences for forty years.  Throughout the concert some of the conclusions I came to were:

a defined, unwavering style that isn't based on trends

Back when Neil first started out, he didn't try to copy what the Monkees or the Beatles were already doing.  Instead he found his own voice based on his Brooklyn, immigrant upbringing filled with soulful lyrics about who he is and who he is not (I am, I said).

evolution of songwriting, but maintains the core classics

I remember watching a recent 60 Minutes interview with Bruce Springsteen where he was asked 'do you ever get sick of playing Born to Run?'  He laughed and responded that whenever he does, he reminds himself that it was that song that made him a success and that it's what his fans want to hear.  So he reminds himself that it is his 'money song' and that makes him enjoy to still play it.  I think that is a lot like us in photography, we might get sick of taking that signature shot or tired of our style but the reality is that our clients hire us for the consistent images that we market.

reinvention based on personal exploration

After years and years of top hits, Neil Diamond released his first number one album just this year called Home Before Dark.  He says himself in this interview that he rarely listens to other music "(doesn't) like to pollute his brain with other people's stuff."  Instead he defines what is happening for him personally through his music.

good at business

I would imagine that one of the biggest aspects to a timeless artist is also being a good business person.  Neil Diamond belongs to that group of a small number of performers who have their name as the copyright  owner on their recordings, such as David Bowie, Paul Simon, Michael Jackson , Ani DiFranco, Pink Floyd, Queen, Genesis, and Van Morrison.  I'm sure staying in business helps when you don't have to share your profits with copyright licensing.

What do you think - what makes an artist timeless? (musical, visual or any other kind)

Image X: "meet Laura Novak"

I recently recorded a fun little interview with Julian, one of the organizers of the Image X workshop which will be taking place this October. I love doing interviews and webinars because I can share information without ever leaving my studio! It's amazing to me how I can share with photographers across the world and still be home in time for dinner a few hours later - technology is such a wonderful thing.

Feel free to enjoy this snippet as a freebie from all the great folks over at Image X.

Laura

making your hobby a business

I recently recorded another webinar... but this one isn't just for the wedding photography industry. This was part of my friend Jen Groover's newest project called Launcher's Cafe. Launcher's Cafe is specifically designed to help people who have a cool idea, make that idea a reality. While a lot of the podcasts and webinars I have done focus very much on the wedding or portrait photography industry, this recording significantly speaks to those who generally would like to see something they love to do work as a career. Personally, I like to mix up my professional education experiences with both courses designed to help professional photographers along with information that is general enough to applicable in any situation and not necessarily industry-specific.

Tune in as Jen and I talk about passion for what we do, our fear of regret and the kind of hard work that is required to make a new venture succeed.

The wedding report

When teaching target marketing at workshops and conventions, I always recommend performing an industry analysis to learn more about whether or not the consumer environment can support your business before starting a new venture. A question I often hear is 'well... how do I know about what is happening in my local market? How can I find out the number of weddings, at what price point, and determine how accessible the market is to me?' Up until this point anyone wanting to learn how many weddings were happening in their area and what the average couple spends needed to visit several different locations to research census data. But recently I came across the Wedding Report which will tell you - for free - the exact trends in weddings by industry, ethnicity and the volume of weddings occurring. It also provides information about predicted trends in the future and what to expect and for a $39 fee you can search your specific geographic area.

There are a lot of hypothesis of what is happening right now in the wedding industry, if people are spending less or even hiring wedding photographers. And while I will say that I have spoken to many retailers who are down right now, this research will tell you for certain what is happening in the current wedding economy - empowering you with the right information to make strategic decisions about your business.

more webinars!

I am so very excited about the webinar I'm offering through PPA on July 14th! I've been working hard on the webinar, taking great photos of our studio samples and promotional pieces. It's such a great deal to participate - I'm looking forward to seeing you all there!

Tips on Moving a Studio Operation

This morning I came across a very cool surprise in my inbox! An interview conducted right after I opened my studio opened in 2006 appeared in this month's Rangefinder newsletter. It was so fun to read about all the thoughts I had back then, and would love to share with you some additional ideas I would offer to those who are considering a retail space.

So I'll add on two more tips to the article, to round out the number to a nice and even 10 tips!

9. Plan for growth When I moved into my studio, I planned for the amount of business I had at that time, and did not think about where I would put an additional employee or two if the operation would continue to expand. Earlier this year I actually moved the camera room out of the studio and put enough desk space for two more employees where the camera room was located. I am currently sharing a commercial shooting space with two other photographers which is working out great, because I only pay for the space when I am actually photographing.

10. Make sure you have enough storage Never over-estimate your need for storage, especially during the busy season! I keep adding on cabinets, drawers, and desk storage to accommodate the need to hold shipping supplies, framed deliveries, client files, gift certificates, print boxes, printer paper, printer toner... you get the idea!

Hopefully these add-ons in addition to the article will help you in growing your photography business to a new location!

Warmly,

EVENTS@marathon

Lately I have been asked to be part of several new and exciting projects, all aimed at helping photographers become better business-people. This upcoming Monday I will be part of Marathon Press' online events and education seminar which you can register for here! It is so interesting to me because when I first started learning how to become a professional photographer, there were very limited educational resources that I had to travel significantly to be part of. Now people can get great information about how to make what they love to do a profession simply by logging in. Isn't technology great?

See you on Monday!

are you a slasher?

Are you a slasher? No, I'm not talking about the guitarist from the 80's hair band Poison. I'm talking about people who have multiple careers, usually entrepreneurs, that create a new evolutionary model for work/life success. I learned about what a slasher is this morning while listening to one of the podcasts I subscribe to called Hip Tranquil Chick on my morning walk. Marci Alboher is a columnist and blogger for the New York Times small business section and speaks to people with multiple interests and as a result create a career around a variety of activities. Her blog can be found at Hey Marci where she speaks to making a living while wearing many different hats.

When teaching and speaking I find that many photographers are living the "Slash Effect," probably without realizing it. Many photographers I am friends with are also teachers, product developers and entrepreneurs. Starting out photographers might be working a full time job, while also building a photography business. I thought that Marci's blog and facebook group might be good for those who are pursing multiple careers as she addresses practical aspects to these situations such as finances and time management. Marci also provides examples of people who have many different interests and how they pull those interests together into an overlapping myriad of multiple careers.

Are you one person with multiple careers? What are the common threads between them? What else other than photography contributes to your income and time? If you answered yes to the first question, you are probably living the "Slash Effect" without even realizing it!