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Today we’re talking about ways to boost your profitability. While most people might think that raising your prices is the most obvious way – it is, and we should be doing that incrementally each year, but it’s not the only way. I want to dive into some less conventional things that can have a significant impact on your bottom line. I have 3 strategies to share with you so let’s jump right in!

1. Streamline Your Workflow

One of the most effective ways to boost your profitability is by streamlining your workflow. This isn’t just about being efficient; it’s about maximizing the value of every minute you spend working.

I like to think about our time as currency, because it’s hands down the most valuable resource we have! And side note, if we don’t value our time then no one else will. Even if we had all the money in the world, if we don’t have time then we don’t really have anything.

When we get really really honed in and efficient with how we spend our time when we’re working, we can focus on the tasks that really move the needle and find new ways to grow and increase profitability.

When we’re so caught up in the day to day of editing and emails and admin and posting on social media, it really doesn’t leave much for anything else. The truth is that alot of those tasks can be outsourced or automated. Alot of those tasks have a value of a few dollars per hour, while tasks that involve growing the business, being the visionary of your business, have a much much higher value. Here are a few ways we can streamline to get more time back for those high value tasks: 

Automate Repetitive Tasks

This is where automation tools are your best friend and can handle tasks like client follow-ups, appointment scheduling, and social media posting. Tools like Studio Ninja, HoneyBook, or Dubsado can save you countless hours by automating some of these processes.

I use Calendly as a way for couples to book a call with me. In my initial email reply I link to a pre-set schedule in my Calendly account where they can choose a time that’s convenient to both of us. This saves us so much back and forth with emails trying to find a day and time that we’re both free. And frankly it shows them that I’m efficient and value their time too.

I also use Gmail for email communication rather than my CRM – I have a business email address with Gmail. This is because I like the way that you can see the entire email train. When I’m writing emails I use templates in the same way that you’d use them in a CRM, you can create those in Gmail too. This saves me a ton of time. I also tend to write them in advance and schedule them to go out when I need them to.

Every couple that books with me then gets their own folder in my Gmail where everything related to their booking gets saved and it’s really easy to go back and find something we discussed.

Use templates wherever possible

This feeds into what I was just saying about automation. You want to have templates for emails and contracts that you can rinse and repeat so you’re not constantly starting from scratch, and obviously editing presets that goes without saying.

You’ll want a contract for each different type of photography niche you do, so you can just grab the relevant one for the job you’re booking, change the dates and costs and send it off, and that’s it. Same thing for pre-wedding questionnaires, vendor details, testimonial requests and client guides. Get those templates set up once and you’ll save yourself so much time. 

Outsource non-core Activities

Some of us might have a hard time with this one but I want you to really consider outsourcing. When it comes to tasks that are time-consuming but not central to your creative process, like bookkeeping, social media scheduling, graphic design, web updates, the endless admin, or even the editing, just to name a few. Do not be afraid to outsource your editing!

I was once a purest who just could not would not bring myself to outsource my editing, my photos were like my baby, this beautiful thing I had created that nobody else could be trusted with. But thankfully I’m very comfortable with that now and it gives me back days of my life. This was hands down the biggest time suck in my business, leaving me with hardly any time left to grow my business.

There are tons of websites out there that can connect you with freelancers who specialize in these areas, or that use AI to help you with these tasks, allowing you to focus on what you do best and what you enjoy the most.

Here’s the bottom line, if it’s taking up tons of your time and not moving the needle, get it off your plate.

The more time you get back during your work day, the more mental space and time you’ll have to act like the CEO of your business that you are, and to find new ways of increasing your profitability.

2. Diversify Your Income Streams

Relying purely on client shoots can limit our profitability because there is a cap on how much work we can take on, because there is a cap on how much time is available in a day. And on our energy too right, I mean we need time to rest. Full day shoots can be exhausting.

No matter how much we wish, we can’t change how many hours we have in a day. This is why diversifying your income streams not only stabilizes your income but also opens up new revenue opportunities and new ways to become profitable. There are alot of ways for a photographer to diversify, this could look like:

Offer Educational Products

This is one that I find exciting and that I’m working on at the moment – creating and selling online courses (stay tuned for that, and spoiler alert – it’s going to be about cash flow and profit, and how to better manage it and grow it in both your business and personal life).

You can also create eBooks, do in person workshops, sell your templates or your presets, coach other photographers, or sell your expertise on various photography techniques – maybe you’re brilliant at posing, flash photography, sales, or album design. Think about what part of your business you enjoy the most, that you know you’re really good at and how you might be able to teach that skill to others.

sell your photos through Stock Photo sites and Print Sales

Stock photography websites like Shutterstock or Adobe Stock can be a great way to generate additional income. And for my wedding and portrait photographers, if you’re not already, offering prints and albums should absolutely be a part of your workflow. If it’s not you’re leaving money on the table. 

Build a team of associate photographers

This one isn’t for everybody but if you are an in demand photographer getting tons of enquiries and you’re at your maximum capacity with shoots, then you can expand your business by hiring associates to shoot for your brand.

The clients obviously understand beforehand that they’re not getting you but the photos they receive are going to be in the style of your brand because you control the editing process. You simply pay the associate photographer for their time and you get to keep a portion of the profits.

Going back to my earlier point about offering educational products, if you’re a photographer who has built an associate team, you can teach others how to do the same, people will pay for that knowledge.

3. Enhance your Client Experience and Increase Client Retention

We all know that building a great relationship with our clients can lead to repeat business, referrals, and higher overall profitability. Why? Because they keep coming back to book you again and again and they’ll send their friends to you.

They might start with booking you for an engagement shoot, then a wedding, then a maternity shoot, then a family shoot. Clients who love working with you are not only going to keep coming back but they’re going to be like a megaphone for your business, they’re going to tell all their friends about it and share the photo’s on social media. So help them love working with you. 

Personalise the Experience

Go the extra mile to make each client feel special. This could be as simple as sending a thank you gift when they book you for a wedding or sending a handwritten thank you note after a shoot. Personalized experiences can leave a lasting impression and encourage repeat business.

It could be adding a step to your workflow like sharing a useful guide once they’ve booked you A wardrobe guide, a moodboard for the shoot, it could be anything. I want you to go and list out every step of your process from enquiry through to delivering the gallery.

Think about what you can do in that process to enhance the client experience. Then, make sure every single step is reflected in your CRM workflow so that it gets done! It’s these simple, thoughtful things that can create an amazing experience for our customers.

Collect Feedback

Regularly ask for feedback once you’ve completed the job and use it to improve your services, making sure it’s an automated step in your process. Positive reviews can of course be showcased on your website and on social media while any not so great feedback will tell you where you can improve.

Social proof is so important these days because people pay attention to reviews and it can really help you to tweak your processes to make their experience in working with you even better.

There you have it – three ways to boost your profitability as a photographer. By streamlining your workflow, diversifying your income streams, and enhancing your client experience, you can grow your bottom line without just raising prices or booking more jobs. I really hope you’ve found this episode valuable and that it’s sparked some ideas in you, gotten those cogs turning.

Resources Mentioned:

• Studio Ninja, HoneyBook, and Dubsado for automating your workflow
• Calendly for scheduling appointments efficiently
• Gmail templates for streamlined communication
• Imagen for outsourcing your editing
• My personal Wealth Dashboard for tracking your personal cash flow, net worth, financial goals and paying off debt