The Photographers MBA
Everything You Need to Know for Your Photography Business
Sal Cincotta
The Photographers MBA: Everything You Need to Know for Your Photography Business
Sal Cincotta
Peachpit Press
www.peachpit.com
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Peachpit Press is a division of Pearson Education
Copyright 2013 by Sal Cincotta
All photography Sal Cincotta
Editor: Ted Waitt
Production Editor: Rebecca Chapman-Winter
Interior Design: Claudia Smelser
Compositor: Danielle Foster
Indexer: James Minkin
Proofreader: Dominic Cramp
Cover Design: Aren Straiger
Cover Images: Sal Cincotta
Notice of Rights
All rights reserved. No part of this book may be reproduced or transmitted in any form by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. For information on getting permission reprints and excerpts, contact .
Notice of Liability
The information appearing in this book is for general informational and educational purposes only and is not intended to provide specific legal advice to any individual or entity. Peachpit makes no warranties of any kind and disclaims any and all liability with respect to the information provided. You should consult with your own legal advisor to discuss any particular issue or to advise on any action based on information appearing on these pages. The information in this book is distributed on an As Is basis without warranty. While every precaution has been taken in the preparation of the book, neither the author nor Peachpit shall have any liability to any person or entity with respect to any loss or damage caused or alleged to be caused directly or indirectly by the instructions contained in this book or by the computer software and hardware products described in it.
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Many of the designations used by manufacturers and sellers to distinguish their products are claimed as trademarks. Where those designations appear in this book, and Peachpit was aware of a trademark claim, the designations appear as requested by the owner of the trademark. All other product names and services identified throughout this book are used in editorial fashion only and for the benefit of such companies with no intention of infringement of the trademark. No such use, or the use of any trade name, is intended to convey endorsement or other affiliation with this book.
ISBN-13: 978-0-321-88892-1
ISBN-10: 0-321-88892-8
9 8 7 6 5 4 3 2 1
Printed and bound in the United States of America
I would like to dedicate this book to my wife Taylor, my mother Terri, and my entire team. This has been one hell of a ride. Without them, none of this would have been possible. Thank you for all your love and supportit never goes unnoticed.
Introduction
Like most photographers, our studio had very humble beginnings. I was a corporate slave working in a cubicle every day, working my tail off for someone else. I loved photography and had been exposed to it at a very early age. My aunt had a darkroom in the basement and my love was born. Now, Im not going to lie. I had been an amateur for most of my life. Around 2006, a friend and co-worker got me reenergized about photography, and I knew this was what I wanted to be when I grew up.
In 2008, our first year as professionals, our studio grossed $50,000. Hardly a living compared to my salary and benefits in corporate America. We nearly lost everything we had after that year. Looking down the barrel of foreclosure and bankruptcy, I knew something had to change. And it did! I put my business degree to work. Instead of trying to emulate what other photographers were doing in their business, I used my business training to establish a bona fide business model and plan for my newly formed company. And we have never looked back! In 2011, gross sales for our studio crossed the $1 million mark. I share that with you so that you know anything is possible. We grew our business in blue-collar America during the middle of a recession.
When I decided to go pro back in 2008, my biggest frustration was the lack of quality educational material out there. No one would share the business side of things. Everyone wanted to tell you about flash and posing. And when the topic of business would come up, it was always this cloak-and-dagger conversation. They would share, but not too much. After all, we might steal all their secrets. Well, I needed real substance, not fluff.
Wow, things sure have changed in the last five years! Today, not only is everyone a photographer, but everyone is an educator.
For me, there is a lot of responsibility that comes with being an educator. Unfortunately, I see a lot of people out there for the money, and that is the wrong motivation. Our industry and our profession is in trouble right now. We need help. We need to raise the bar or soon there will no longer be a professional photographer. When I decided to get involved with the educational side of our industry, I knew I had to be willing to share everything I knew. That is my promise to you as a student.
When I was coming up, no one was willing to show what was behind the curtain. Well, here we go. This book is meant to get you on the right track when it comes to the business of photography. Its not tied to any specific genre of photography, nor is it meant to be. Instead, its a broad overview of the business side of things. If there is something I see photographers struggling with the world over, its the business side of photography. This is a great launch point for your business. And make no mistake, this is the first in a series of books where we drill down into the various aspects of starting up, maintaining, and growing your business.
In reading this book, the best advice I can offer is to get your highlighter and use this book as a reference for everything you are doing with your business. Read it over and over again until it fully makes sense to you. Most importantly, do something with all this information. Dont sit on it. Look for ways to incorporate it into your business and get your business moving in the right direction.
Much love and success,
Sal Cincotta
For more training and education from Sal, be sure to follow him online:
Web: www.behindtheshutter.com
Twitter: @salcincotta
One. So You Want to Be a Photographer
In this chapter well explore the photography industry and the influences that are shaping it today. The industry has gone through immense changes, and unless you truly understand the past, youll be destined to repeat its mistakes. A career in photography can be extremely exciting, but its not without its challenges. Once you understand the pros and cons of a career in professional photography, youll be better equipped to make informed decisions.
While there is little to no barrier to becoming a professional if you want to make photography a career versus a hobby, its best to learn as much as you can before you take the leap. Ive been at this since I was 17, and I still learn something new every day. It truly is a journey and not a destination.
A Career as a Professional Photographer
Being a professional photographer can be a rewarding experience. Every day I wake up and realize Im the luckiest person alive. I get to follow my dreams and passions, all while making a very decent living.