Coffee Talk Vol 1 - Value Matters
Speaking to a client last week we dove into their business structure and quickly began to discuss the purpose of what they were doing. We discussed his Vision and the power of the people. As we consulted with him we discussed his target audience, his reasoning of why he started the business, as well as how he planned to expand his reach. Your vision must be valued was at the first thing I stated to him. But to whom? First you as an entrepreneur must see your value, once achieved others have to respect the value in which you have placed within your #vision. Remember no one will value your vision more than you.
One of the first things I learned as a photographer being a discount photographer will quickly label you as one. I purchased thousands of dollars of equipment because I thought I needed it. I developed cool concepts and rubbed shoulders with amazing people. However there was something lacking. BOOKING CLIENTS! Others liked the concept of me taking pictures but didn't value the price I was charging. As I began to discover some thought I wasn't charging enough, others thought I was charging to much. This altered my thought and haunted me at night because as any entrepereuer dreams I just wanted to be successful. Your vision has a price and everyone will either pay for it or they wont. My close friend Tony Pediford owner of CSM Photography Studio confirmed this statement and explained to me how to expand beyond the discount. Expressing this sentiment to my client he laughed and quickly agreed. Its important that the price margin you set explains and defines the value of your work. I never make a business deal with out knowing that I will win. Thats the same way you have to think about it. A camera can't cut on with out a battery, a battery can't charge with out electricity the electricity bill can not be paid if no one books a photoshoot and pays the value. That's the same concept of the Lion King there is a circle of life and we all must fall in the right place. Your goal for the next week is to look at your product and determine your value. As 2016 is coming near to the end you want to make sure you are in the right position to make money in 2017.
That is all for Coffee talk today.. we will start providing coffee talk on a regular basis. Every big corporation started as a small business and had to learn through trial an error. This is your trial now try to avoid the errors.:)