Running a photography business isn't just about taking great pictures – it's also about handling the financial side of things. Here are some simple tips to help you manage and grow your photography business smoothly:

Tip 1: Know Your Numbers

Create a comprehensive spreadsheet to track your Cost of Goods (COGS). This will give you a clear understanding of your expenses, helping you calculate your profit margins accurately.

Update your spreadsheet at least once a year to reflect changes in lab costs. Don't forget to include shipping costs in your calculations for some labs.

Tip 2: Track Clients, Genres, and Spending

Keep track of each client, what they spend, and the source of the lead, this way you can also identify which genres contribute the most to your revenue and where most of your leads are coming from.

Tip 3: Set Clear Financial Goals

Determine your annual income goal and break it down into monthly targets. This will help you stay focused and on track throughout the year.

Regularly assess your monthly earnings to ensure you're meeting your monthly and yearly financial goals.

Tip 4: Plan Your Marketing Calendar in Advance

At the end of each year, create a marketing calendar for the upcoming year. This ensures you're prepared to promote special projects or sessions at the right times.

Having a pre-planned calendar allows you to develop marketing materials in advance, saving time and ensuring a consistent promotional strategy.

Tip 5: Utilize a CRM for Efficiency

Invest in a Customer Relationship Management (CRM) system to streamline client interactions and manage all aspects of your business efficiently. This has been a huge game changer in my business.

Consider using 17hats as your CRM (or any others that may work for you). It’s a comprehensive tool that simplifies client communication and organization. If you're interested, you can check it out and if you need a referral code, here is the link https://referrals.17hats.com/card/cindykophotography.

By incorporating these tips into your photography business you'll be able to set the stage for sustainable growth and success. Remember, mastering the business side of photography is as crucial as perfecting your craft behind the lens.