Stop Your Bullshit Story - Boudoir Pricing
I want to talk about our bullshit story and by "our" I mean yours and mine.
Everyone of us is guilty of this in some shape or form. We all have had an excuse, or excuses, that we have told, or are still telling ourselves, as to why we can't do something. That something could be why you can't charge what you want, why you can't give the experience you want, why you can't offer what you want, why you can't make the money you want etc., etc., etc.
I am here to tell you that it is all bullshit and that YOU CAN if you want it bad enough. Key words...if you want it bad enough. So ask yourself that question...How bad do you want it?
It's much easier to tell yourself a bullshit story rather than take the risk that is involved to do what you want. It's easier with the Bullshit story so you are not forced to be scared, to feel the fear of making a make a mistake or failing. I learned valuable lessons from each mistake I have made. I have taken many risks too. Each one has scared the living shit out of me. Some worked, some did not. You know what though? Now I know.
One of the biggest bullshit stories I see others talk about is money and what to charge. How they aren't making it, why they aren't making and why they can't.
That was my biggest bullshit story too.
For the last few years I knew I wanted to charge more. I knew I wanted to go against the normal boudoir menu set up and do it my own way. I made up my bullshit story of why I couldn't. Clients would not pay what I wanted to charge. I needed to have 238 different options on my menu because that is what everyone else was doing. I had to have every potential client be able to afford something.
In 2015 my menu was ridiculous. I offered everything under the sun, I was cheap. I was changing my pricing every other day it seemed, again it was part of the bullshit story. I was frustrated and I was not making any money. We shot over 200 clients in 2015 only to gross $251,000 and only put $46,000 in my pocket. I was working 80 hours a week, not exaggerating, and stressing. (that comes to $11 an hour by the way. Talk about some BULLSHIT) I had a full time associate photographer and a full time studio manager. I was working my ass off and was having many breakdowns.
The bullshit had to stop and it was up to me to stop it.
At the end of 2015/beginning of 2016 I sat down and looked at my numbers. For the first time I learned my business on the inside. I took a good look at my menu and asked myself "why in the fuck am I offering all these things and why is everything so cheap?" I looked at what my clients were buying. They were buying digitals and the same 2 album sizes over and over again. I looked at what was frustrating me and what was not. I had a little talk with myself about what I wanted to make and I set a goal. If we were going to shoot over 200 clients a year then dammit we were going to make some money...our way.
What I came up with was a method to find out what I needed to be charging to make the money that I wanted the studio to make and what I personally wanted to make.
It's a method that makes you take a hard look into your business and it helps you find your minimum price point. Your minimum price point is what you need to make to meet your financial goals. Every business is different and a minimum price point is your business' finger print. It is unique to only your business.
Once I used this method and found my Minimum Price Point I designed my menu around it. My menu now sells what I want to sell at the price I want to charge for my individual business and goals. The result was my biggest year to date in 2016.
Once I stopped the bullshit story I was telling myself and put the work in to figure out a way to make happen what I wanted to happen, I started making the money that I wanted to make. In 2016, after putting my Minimum Price Point and new menu design into play, we again had over 200 clients, but this time around the studio grossed over $400,000 and profited $161,000. That is a 64% jump in gross and 251% jump in profit.
2017 is right on track to do it again.
If one of your bullshit stories includes financial struggles, that you cannot charge what you want to charge or make the money that you want to make or you just don't know what your studio should be charging, I highly suggest our Setting Yourself Up for Financial Success Course.
This course is for every level of photographer, just starting out or years in business. It's for every size of studio whether it is just you or you have associate photographers. It's for every size business whether you shoot two sessions a month or 20.
Included in the course:
- Video to walk you through the method
- Worksheets and tools to find your Minimum Price Point
- 2015 & 2016 Actual Profit & Loss Reports - The proof is in the numbers
- Invite to our Private Cut the Bullshit Facebook Group for Q&A's, continued learning and more
What the course does:
- It makes you take a deep look into your business - it's time to get real
- It makes you think about what you personally want to make
- It makes you set goals
- It gives you the tools you need to find your minimum price point for your individual business to design your menu around and start reaching your financial goals
What the course does not:
- It will not tell you what you should charge per image
- It will not tell you what you should charge per album
- It will not tell you how you should design your menu (it does give you options)
This course requires work on your part.
If you are ready to get real with yourself and your business, cut the bullshit story of why you can't make the money you want, this method will guarantee that you meet your financial goals.
Until next time....