I just did this exercise with the Pictage User Group (PUG) group and thought I’d share it here too. This exercise is what I call “gear therapy.” In photography, knowing what kind of gear, how much to buy, when to buy can be a bit overwhelming. My mind spins about gear purchases for days. Do I want it or need it? Am I wasting my money? Here’s how I decide to buy photo gear for my business:
COMPLETE THE FOLLOWING EXERCISE:
1. On one piece of paper, write at least three pieces of “gear” that is on your photo business wish list to buy for this year. “Gear” can be software, admin tools, marketing needs, educational seminars, professional groups, small photo toys, or actual honest to goodness camera equipment. Got it, good. Flip it over so you are no longer seeing your wish list.
2. On another sheet of paper, answer the following 10 questions …. interpret each how you like. Don’t spend too much time… you should do this in 5 minutes.
A. Write down three words that describe your photography.
B. Write down three words that describe your business.
C. Write down three reasons why people hire you.
D. Write down three things that are current frustrations in your business.
E. Write down three things that take lot of your time in your business.
F. Write down 3 business rules you live by.
G. Write down 3 fears you have in business.
H. Write down 3 things your competitors have that you don’t.
I. Write down 3 ways your business you wish to grow your business.
J. Write down 3 health concerns you have.
STOP. DON’T PEEK AHEAD.
STOP. DON’T PEEK AHEAD.
STOP. DON’T PEEK AHEAD.
STOP. DON’T PEEK AHEAD.
STOP. DON’T PEEK AHEAD.
Finished? Ok, let’s decide if we should buy that snazzy new thing-a-ma-bob. Here’s how to analyze your answers.
Take a look again at your thing-a-ma-bob wish list and look at what you wrote down for your other answers.
Questions A & B were just to get your mind off the “gear” you wished for on the first sheet of paper. So you can just enjoy your thoughtful answers and continue.
Questions D, G, H are never good reasons to buy gear. Daily frustrations like any one client issue, fears of not being good enough or (and this is a big one for competitive markets) insecurities about what your competition has in terms of gear are never reason to buy expensive equipment. It’s bad business. Emotions get wrapped up in what should be a numbers game. Let’s take those emotions out. There’s no real value in fear and frustration. It felt good to get it off your chest though, eh!
Instead, ask yourself if each must-have “gear” item you want for this year solves an issue or affirms who you already are as a photographer. Questions C,E,F,I, or J are the important questions to answer when you want to buy anything for your business. Here’s why:
C. Write down three reasons why people hire you.
If your answers were based on your personality, then maybe you don’t need the megabucks camera, maybe a smaller make and model is just fine. A big camera is not the reason a consumer “buys” you. Now, if you are a lighting super-star and that makes you the “it” photographer to hire, then maybe more lighting equipment will keep you at your best game.
Look at your gear list with honesty. Is that Photoshshop action set really why people hire you? Is it even your style? Or is it Susie Q’s style down the street— who’s studio, you hear, is doing well. Susie Q may be in some serious debt! Who knows? Don’t buy things to quiet a frantic voice in your head.
E. Write down three things that take lot of your time in your business.
Time is so precious. Spend it how you want to spend it. If accounting is wearing you down and keeping you from selling or shooting, then go ahead and buy that accounting software or booking system you’ve been wanting. Approved!
F. Write down 3 business rules you live by.
Most people have some sort of theme song, a tagline, figure of speech, mantra or ethic they live by. Maybe it’s something like: ‘Go above and beyond’, ‘Offer only the best’, or ‘everything in moderation.’ So if your life phrase is ‘everything in moderation’, you may have different spending habits then someone else who’s inner voice yells ‘go to the mattresses’ (see the movie Godfather). The point: make sure your equipment purchases align with your core business values.
Personally, I like doing things ‘right the first time’ so I actually make fewer purchases in any given year and cost tends to be higher per purchase, but I feel great because my magic gadget lasts forever. This makes me so happy. I hate, hate, hate when I go cheap on gear and then I have to re-buy something to fix it. I always regret it. But then again, I know other photographers who only buy items on sale and that satisfies some deep desire for them to ‘get the best deal.’
Try to avoid the internal conflicts. Simple example: A super cute huge, pink polka-dotted camera bag may not sit well with the belief that a photographer should stay ninja-discreet during a client’s wedding ceremony. When the purchase and the value don’t match, you will regret the buy.
I. Write down 3 ways your business you wish to grow your business.
Whether you grow creatively as a photographer or aggressively as a business owner, if your wish-list item is not helping you really grow, just skip it. It’s probably a novelty item you think is fun now but will likely collect dust. Sure, it would be cool to get your staff had a personalized beer cozy with your logo on it. But maybe getting them a better commission by placing a perfectly placed new ad would be appreciated even more. That’s great growth.
J. Write down any 3 health concerns you may have.
Photography is a physical job. If you want to stay in it for more than 5 years, you need to take care of your body. Gear-based purchases that help you stay healthy are a great investment. Period. If your wish-list item is to get a better strap for your camera so your back doesn’t hurt, fabulous! Get a message. Go to that chiropractor. You’re approved. Skimping on short term care may give you long term health nightmares!
Now that your snazzy new thing-a-ma-bob meets these top, core business ideals, THEN AND ONLY THEN, go ahead and consider the money — the rate of return on an item, read reviews, look at your finances (honestly) and comparison-shop for the best deal.
Too often, artists fret about how to afford something before they even know if they should buy something. Do the gear therapy exercise when in doubt and you will mentally work it out!
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