lytefunk i give it up to you !!!!
I think you sums it all up in this forum about pricing models... about undercutting each other.. About creating a union to regulate pricing....everyone is going on and on and on about these topics. You in just one word sums it all up - ECONOMICS
Having a photography business takes more then just good photography skills. As the name implies Photography and Business Skills. It makes economical sense in a free market like Singapore that the stronger and the well managed will survive. We are not socialistic countries like Eastern Europe where union is the all overpowering higher being. In Singapore, our SM MM PM will shove quality economics lesson up the unions and tell them what will work... don’t we all already been watching the "you know which Union recently" saga..... Maintaining that intricate equilibrium takes one to see further then the nose. And that chaotic theory is not something any one can chump down easily.
It is Ironic how this business is.. People out of the industry will tell you how photography makes good money.... but being in this forum where I would confidently say a substantial portion of pro photog are complaining about not making the due? just how ironic is this?
in reality as we live today... there are many skillful photog who are out of business! similarly having said that... just spent 5 mins at our news stand and look at all the magazine covers and realize how trashy they are or even say we can do better then that! (Although, I must give credits to CD and FREY for a superbly and brilliantly done cover for BAZAAR on Anne Watanabe. ) I am not playing critic on photos on my above statements… I am making a point on photography as a business. It has nothing to do with photography. Success in this business depends on one and only one thing: good business sense
It is about understanding the economics behind the business… its about understand and creating value that is seem worthless to most people. And trading that value into another form which aids your progress… (Can be in any form, not only money) how well verse are you in the whole spectrum of photography as a business? Whats the cause and effect vs the supply and demand… what I spoke about here is nothing I invented.. It is just simple college Economics.
There are many hobby photogs out there loving every min of their camera life… and suddenly realize that perhaps they can make a little income from it. After doing a few wedding for friends and colleagues (usually free or underpriced.. hhaahah Here we go again) they make an assumptions that maybe they can make a business out of it??!?! Well yes you can take a few good photo… but making an assumption that taking good photos will allow you to make a good photography business is not relevant. It takes good business skills.
So this is the point where the market will sift out (with help of the law of nature) those who will not last long in the industry with out proper business sense. These are the people who cant even write a proper business model / plan ( including those you download off Google.) least talk about data analysis and swot models.. blah blah…( we can open a separate tread on this if any one is interested)
Photography as a business follows a rule of nature as rigid as the law of gravity. (when you jump off a tall building … regardless you are a good person or a bad person … you die) is that you need to be equipped with proper business knowledge. Regardless how rich you are to start with! It will only mean you burn your money a little bit longer then the rest.
A good 20% of the polls above shows that there is good money to be earned.. the question is … what do the rest of the 80% lack that do not allow them to earn what those 20% are earning ?
(if you would also read what I wrote on “the psychology of free photogs” somewhere in here)
If you are not ready to go full fledge professional. Then there are those who stuck to part timing and earning that extra cash. But the law of nature has it that if you spent your time else where earning some other form of income… you will have limitations to how big a scale in photography you can earn from…( thank god we only have 24 hours) economics at work again…. So these people stay to doing their small jobs whilst the big players stick to their million dollar ad campaign. Its only nature’s self working law again.
All in all to sums this all up before it turn into another of my random rants . I would think that if it’s a passion you like to keep it alive… then keep it as a passion in all intensity.
Evaluate yourself if you are ready to do business. passion and business put together is on a balancing beam… when business side goes up … passion goes down … when passion side goes up…. Business side goes down… reality check on which side of the balance you like to lean..
And please don’t take away my new member status…………….
Lova ya all
*i'll send my kid to economic school, micro economics school, macro economics school, economatrix school... and run an empire of commercial studio MUAHAHAHAHAHAHAHAHHA
