february 2021 12feb11:00 am12:30 pm💰 Wedding photog talk: How to increase your profit as a photographer (+ Q&A)Not all reviews are the same! Join Bryan and Nathan as we talk about building power social proof through artfully crafted testimonials. Room Show Notes Room Show Notes 💰 So You Want to Raise Your Price Blind advice to raise your prices is NOT valuable… Definition of Profit: is the (# of sessions you have) x (how much you make per session) – (your expenses) 💸 3 Variables to Change Your Profit Profit is the function of 3 variables: Shooting more Charge more Decreasing your expenses 1. Shoot more This is a function of Marketing and Sales (top of your funnel) 2. Charge More This needs to be sustainable and well-informed*** Ex. You’re a wedding photographer. You charge $2,500 per wedding and you shoot 20 weddings a year. If you use the cost of a good model – your PROFIT is $32,000 per year. If you have a lot to risk – then sure – “double your prices” or… INSTEAD – Increase your price 10% every 5 weddings: $2,750 (this will bring you $15,00 in pure profit by the end of the year – just by these SMALL increments) 3. Decreasing expenses “Trim your fat” (mind your spending) Ex. cut down your phone bill, pick an all-in-one CRM (😉), buy second-hand equipment Instead of increasing your prices – shift your thinking of “expenses” with your time Ex. shift your packages from 👉 $6,000 for 8hrs to 👉 $6,000 for 6hrs This trickles down on your time spent on editing 🔑 Key Takeaways Stop allowing comparison or your ego to influence your pricing 💬 Room Discussions & Questions Outsourcing may be a better option for you – “how much is your time worth?” 👋 Follow Bryan, Nathan, and Sprout Bryan Nathan Sprout Studio more Time(Friday) 11:00 am - 12:30 pm(GMT-05:00) View in my time Visit Event CalendarGoogleCal Comment There is no comment on this post. Be the first one. Leave a comment or Cancel ReplyName* Email* Website Save my name, email, and website in this browser for the next time I comment.