Photographers – Keep an Eye on Cash Flow

A photography business can, on the books, look healthy. The photographer may be shooting daily. The business may even be showing large paper profits; however, if the cash flow is not healthy the business will not succeed. Cash flow improves when a photographer gets paid on his work soon after completing it. The following are a list of ideas for shortening the average time between work completion and getting paid for that work.

1. Set a time limit for when images are available for online viewing. Humans by nature tend to procrastinate. A deadline will counter this natural trend. Many professional photographers find that when they set a reasonable deadline for ordering, most clients order within that time frame. As a bonus, orders with a deadline are often larger than those that have no deadline (the excitement of the shoot is still there- encouraging higher orders).

2. Use a credit card service or PayPal. Many credit card services offer the option of collecting on payment plans. Credit cards also make payment easy. A client can make a payment on a website and the money can be in the photographer’s bank account in less than twelve hours.

3. Communicate ordering policies clearly before the session. Lack of clarity is one of the major reasons people fail to complete their orders. The job of the photographer is to do everything reasonably within his power to make ordering images the path of least resistance. When a photographer outlines his policy before the session takes place, there is not danger of a client saying I’m not going to follow that policy – had I known about that policy I would have gone with someone else.

4. Charge a modest stocking free for re-establishing the gallery after the allotted time has passed. Reloading pictures to a website takes extra work. Clients usually understand this. In order to avoid the fee most clients will make a strong effort to order on time.

The photography industry is competitive. To compete effectively, a photographer needs to have an effective strategy to ensure he is paid in a timely manner.

Vanessa has an extensive photographers knowledge of many Orange County Wedding locations such as locations in Newport Beach, Huntington Beach, Temecula, Irvine, Laguna Beach, Tustin and San Diego. She instructs Newport Beach Photographers in techniques and shoots many Laguna Beach Weddings.

Music video by Ace Hood performing Cash Flow. (C) 2008 The Island Def Jam Music Group.
Video Rating: 4 / 5

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