Hey guys! I was wondering how many photographers on here have a business plan, or if you deem it unnessary. If yes, what does it include (generally speaking), do you have a purpose statement? If not, then why? Is a buisness plan necessary to run a successful photography biz? Just wondering... Thanks for any input!

Grace,
Crystal

Yes, I have one and I think a business plan is incredibly important. If anything, it keeps me focused on the big picture. It doesn't have to be formal, but if you don't have a plan, how will you know when you have reached your goals? Also, a plan helps me prioritize. Everything I do should go along with my company's mission and values. I am still new to this, but once I wrote everything down on paper, I felt a huge relief.

Jessica

I think much like the same way Jessica does. A Business Plan (BP) helps you formulate your ideas and get them down in to reachable goals. It doesn't need to be formal, but it helps you prioritize your ideas.

It also helps you if you eventually look for investors.

I haven't done one for a photography business as this is still very much a hobby (ok, passion) for me. I am in the midst of doing one for a Design & Advertising Studio and let me tell you, it is a great help in understanding what you can and can't (for now anyways) do.

Cheers!
trevor

critical.

if you fail to plan, plan to fail.

if you don't know where you are going, how will you know when you get there - or know how to get there.

chart a path. you can always adjust your sails.


at least have some idea what you want, and how you will achieve that - and write down your goals and write as detailed a plan as you can.
i think what i write is more of a biz model or strategy, rather than a formal biz plan.

Thanks Jessica, Trevor, and Robin! Very helpful and I appreciate your feedback.



Robin,

I just have to tell you that my husband came home from OSP gathering telling me about how you operate your business...and all I can say is AWESOME! Regardless of what business you are in your thoughts and ideas are priceless. All I can say is well done!

Grace,
Crystal

I think there are three ways to come onto this subject.

1) I'm too small & know what i want to do I don't need a plan
2) Wow a business plan is like 50 pages - I can't do it, I don't understand it.
3) Yes, I have one. I had to have one, I created it, I update it about once a year and it looks both 12-18 months and 3-5 yrs ahead.

If you want to get to a place where you won't be one of the 2/3 of businesses that fail, you'd better be a #3. Very very few people can survive as 1's and 2's. I'm sure someone like Mark Ridout who doesn't even use contracts can get away with that stuff. Maybe Gino and DJ. but for the rest of us, if you don't have a plan you're just waiting to die a slow business death. Even if you're more profitable this year than last year.