Pixiq

I remember all too well the fall of 2008 when the stock market crashed and life began to change for so many people.  This past Friday as I shot an assignment for an advertising client, I was also mindful that America just received the first ever downgrade of our AAA credit rating.   I thought back to how business changed after the crash of 2008 and the lessons I have learned since that time.  The effects from the the fall of 2008 did not hit main street until the spring of 2009, and even back then I heard the talk of "double-dip" and this morning it seems we are headed for the second dip.

How does the market affect the working photographer?  I remember being asked this question in 09 and being puzzled why anyone would think it would not affect every industry.  The truth is photography is often a price competitive industry and when people are looking to hire a photographer in tough economic times they are more selective and price sensitive.  This is why we have seen so many photographers charging so little for their work.  If your work is dependent on price you will always be subject to the ups and downs of the economy.  However, if your photography has a competitive advantage you can withstand  the recession and continue to thrive.  This is why it is so important to have images that stand out from everyone else, and you can only do this by photographing subject you love.  Yes you may be able to shoot a lot of different things because you "like" a lot of subjects, but if you focus on what you "love" instead others will see your passion in your photography and hire you.  Shoot only what you love and the work will come.  

What is price competitive and what is a competitive advantage?  When we fill our car with gas we look for the best price we can find.  Most people are not loyal to one brand of gasoline when gas prices climb higher and higher.  We are buying gasoline based on price and that is a price competitive industry.  The airline industry falls into this category as well.  Competitive advantage however keeps your clients loyal to you.  An example of competitive advantage is the brand of toothpaste you used this morning or the type of razor you shave with, or even the type of chocolate you eat.   The company with a competitive advantage can keep their prices in line with inflation and withstand any downward cycle or disaster.  Today as you start your week think about how you can change your photography from price competitive to having a competitive advantage.  As every stock plunged this morning Hersey and Proctor and Gamble continued to climb.  That's a strong competitive advantage!

No matter what happens tomorrow with the economy concentrate your energy on promotion and marketing and think about what you can do differently.

Always Dream Big!