Dear friend, as a photography entrepreneur, charge 25% more for your services than you think you should!
Why charge premium prices for your services?
Why?
Well, this is my rationale:
- If you’re a newbie entrepreneur, we are generally uncertain what to charge for our services or our products. Therefore we generally charge too little.
- Therefore as a good heuristic (mental rule of thumb, shortcut), consider charging 25% more than you initially thought.
- When you charge more for your products or services, people will generally think it’s more valuable. This is called a “veblen good” or “veblen effect”; we make a mental shortcut that more expensive things are better quality, more reliable, and work better. This is why we will spend $5 on Tylenol to cure our headache, whereas we won’t buy the $1 generic ibuprofen which is technically the same thing, but we think the $5 dollar medicine will work better (and it does, the placebo effect is real!)
In my own real life, my photography entrepreneurship, workshops, and selling my own products has been the same. I’ve always been puzzled how much to charge for it. And through the last 8 years of running my own business, I’ve discovered:
When in doubt, charge more.
Consider, we generally discount or don’t think about all the time, labor, energy, and human metabolism that goes into our services or the work we do.
For example if you shoot a wedding, you’re not just shooting the wedding. You’re driving there, prepping for the wedding, getting insurance on your gear, you’re processing and editing the photos, you’re backing it up and sending it over. All that labor you’re probably not thinking of!
If you’re selling a photography book, consider all the time needed to actually shoot the photos, the money spent on your gear and equipment, and the time you needed to edit, sequence, print, or distribute the book.
Cindy said, “My labor is not free” and she’s right.
Don’t under-sell yourself, know your worth! And charge accordingly!
BE BOLD,
ERIC
Discover your potential at ERIC KIM EXPERIENCE >
PHOTOGRAPHY ENTREPRENEURSHIP 101
Never stop innovating: “Ultimate Beginner’s Guide to Photography Entrepreneurship“.
Photography Entrepreneurship 101
- Photography Entrepreneurship 101: Why You Must Start Your Own Email Newsletter
- TURBO CREATION: Why a Maxed-Out MacBook Laptop is the Best Investment You Can Make for Photography Entrepreneurship
Life and Productivity Hacks
- My Ultimate Productivity and Life Hacks
- Life/Productivity Hack: Write (Type on a phone) While Walking on a Dynamic Treadmill
- ERIC KIM Life, Creativity, and Productivity Hacks
How to Make a Living from Your Passion
- Build Your Own Instagram!
- How to Be More Ambitious
- Do It Your Way
- How to Measure Your Progress as a Photography Entrepreneur + Come Up With New Ideas
- How to Make a Living From Your Passion in Photography
Put a Dent in the Universe.
- Fear Disguised as Reason
- Distraction is the Enemy
- Innovate for the Sake of Innovating!
- Reality is Malleable!
- Stoic Entrepreneurship
- Against Self-Preservation
- The Purpose of Life is to Make New Stuff!
How to Succeed as an Entrepreneur
- You Have No Limits.
- Calculated Risk-Taking
- Invest in Yourself
- The Secret of Happiness: Shoot for the Moon!
- Moonshot Thinking
- Why We Should all Be Photography Entrepreneurs
- Memento Mori Entrepreneurship
- Why it is Better to Beg For Forgiveness than Ask For Permission
- How to Become a Digital Nomad
- Why You Must Own Your Own Platform
- First Principle Thinking for Photography Entrepreneurs
- How I Became a Digital Nomad
- Better to Beg For Forgiveness than Ask For Permission!
- Spurn Pleasing Others!
- Create Your Own Niche
- How to Gain More Exposure For Your Photography
- Intense Focus
- How to Conquer Your Fears as an Entrepreneur
- Define Yourself
- Let Dissatisfaction Drive You Forward!
- It Doesn’t Matter if Someone Else Has Done it Before!
- How to Succeed as a Photography Entrepreneur: Be Extremely Resourceful
- Open Source Business Model in Photography Entrepreneurship
- Entrepreneurship 101: Growth and Innovation Over Self-Preservation
- How to Create Value as a Photography Entrepreneur
- Why Become a Photography Entrepreneur?
- Why You Must Ignore Nay-Sayers to Succeed in Entrepreneurship, Business, and Life
The Modern Photographer: Tips, Strategies, and Tactics to Thrive as a Visual Artist in the Digital Age
Marketing, Branding, Entrepreneurship Principles For Success
MODERN PHOTOGRAPHER is your new philosophical and practical primer to succeed as a modern photographer in today’s digital world.
Business Mental Models
- How to Succeed as a Photography Entrepreneur: Be Extremely Resourceful
- Open Source Business Model in Photography Entrepreneurship
- Entrepreneurship 101: Growth and Innovation Over Self-Preservation
How to Monetize Your Photography
- Photography Entrepreneurship 101: INFLUENCE
- Should I Monetize My Passion for Photography?
- 10 Practical Photography Monetization Strategies: Pricing, Google SEO, & Entrepreneurship
- How to Make Money From Street Photography
Why Become a Photography Entrepreneur?
Take control of your own photographic destiny:
THE MODERN PHOTOGRAPHER
- CREATIVE CAPITALISM
- How to Monetize Your Photography
- 5 Practical Photography Career Tips and Advice
- 10x Thinking
- How to Hustle as a Photographer
- How to Become Your Own Master Marketer
- The ‘T’ Technique of Success
- Go Ahead and Sell Out
- What is Your Unique Voice?
- Why You Must Self-Promote Yourself
- What is Your Unique Angle as a Photographer?
- Photography Content Marketing 101
- Why You Must Become Your Own Publisher
- The Art of Cross-Pollination in Photography
Photography Entrepreneurship Articles
- Why You Shouldn’t Trust Your Pictures to Facebook, Instagram, Snapchat, and Flickr
- How to Make Money From Your Photography
- Photography SEO and Blogging: How to Become Number One on Google
- Intrinsic vs Extrinsic Motivation
- Now is the Best Time to Be a Photographer
- PRODUCERISM
- What Is The Value of a Picture?
- Your Photographic Labor is Not Free
PHOTOGRAPHY WORKSHOPS 101
- Chapter 1. How to Make a Photography Blog
- Chapter 2. How to Price Yourself
- Chapter 3. How to Find Your Market
- Chapter 4. Why Teach Workshops?
- Chapter 5. How to Build Trust
- Chapter 6. How to Market Yourself
- Chapter 7: Why Should Someone Attend Your Workshop?
KEYS TO SUCCESS
- Why You Must Be a “Personality” in Order to Succeed
- THRIVE OR DIE.
- Impatience is a Virtue
- Create Your Own Category
- HOW TO DREAM BIG.
- Will Not or Cannot?
- Why Not?
- How to Think BIG
- How to Stay Ahead of the Curve
- How to Invest in Yourself
- The Two Camera Rule
- MEANINGFUL DIFFERENTIATION
- Advice For College Students
- How to Thrive in Uncertain Times
- CANNIBALIZE YOURSELF.
- DO AND GROW RICH
- Does Fear of Punishment Hold You Back?
- HOW TO GET MORE FOLLOWERS
- How to Innovate
- How to Build Your Own Empire
- YOU ARE ENTITLED TO HARD WORK.
- PICK YOURSELF.
- OWN YOUR PLATFORM
- 10 KEYS TO SUCCESS
Table of Contents
Learn how to make a living from your passion:
- Preface. BRAVE NEW WORLD OF PHOTOGRAPHY
- Chapter 1. How to Create Value
- Chapter 2. ZEN CAPITALISM
- Chapter 3. Scarcity
- Chapter 4. How to Brand Yourself
- Chapter 5. How to Build a True Following
- Chapter 6. The Blueprint to Success in Photography
- Chapter 7. HOW TO BE BOLD
- Chapter 8. How to Sell Out
- Chapter 9. GO AGAINST THE GRAIN
- Chapter 10. EXTREME ABUNDANCE
- Chapter 11. Photography Experience Economy
- Chapter 12. Why You Should Make Money for Your Photography
- Chapter 13. How to Become a Famous Photographer
Photography Business 101
How to Make Money with Photography
- How to Charge More Money in Your Photography
- Why You Should Not Pursue Photography as Career
- Can Photography Make You Rich?
- How I Earn $200,000+ a Year From Photography
- How to earn $10,000 a month as a photographer
- Why you must be an expensive photographer
Photography Marketing 101
- Why Have More Followers?
- Why You Should Do Photography Work For Free
- How I Became an Internet Famous Photographer
- Photography Blogging Ideas
- Why You Should Promote Your Own Name
- How to Build a Following
- How to Stand Out as a Photographer.
- HOW TO GO VIRAL AS A PHOTOGRAPHER.
- How to Master Marketing
- How to Sell Yourself
How to Hustle.
- Entrepreneurial Advice to My 18 Year Old Self
- How to Become Insanely Productive.
- 5 Lessons From Hesiod on Hustling
Entrepreneurial Principles
- It is Better to Beg For Forgiveness Than Ask For Permission
- The Free Way to Become Rich
- JUST DO IT.
- 7 Steps: How to Make a Living From Your Passion
- How to Do What You Love for a Living
- How to Create an MVP (Minimum Viable Product)
- How to Fail Big
- How to Invest in Yourself
- How to Be Bold in Photography and Life
- Mission: Cover Your Rent and Food
- 1,000 True Fans
- The “10x Principle”: The Only Difference Between “Success” and “Failure”
- Make More Value Not Money
- We Live in a Photo Utopia
How to be a Full-time Photographer
- How to Make a Living From Photography
- The 3 Principles of Making Money With Photography
- Advice for Aspiring Full-Time Photographers
- Don’t Go Into Debt For Your Photography
- How to Brand Yourself as a Photographer
- Trust: The Most Important Thing You Need to Succeed as a Photographer
Photography Blogging
- How to become rich from photography blogging
- How to Make a Living with Blogging
- 50 Blogging Tips For Beginners
- How to Start Your Own Photography Blog
- A Photographer’s Guide to SEO, Blogging, and Social Media
How to Teach Photography
- How to Become a Photography Teacher
- How to Teach a Street Photography Class
- Why I Teach Street Photography Workshops
Social Media
- Why I Deleted My Instagram
- The Social Media Blackbook for Photographers
- Why Do You Need More Likes or Followers?
- Instagram is Going to Be the Next Facebook
- Don’t Trust “Free” Photography Social Networks