If you’re blaming the lack of your photography business on the economy, this episode is going to reframe that. My goal today is to bring you hope, change your perspective, and your negative mindset about having a profitable photography business right now. I know times are tough but I want to help you overcome economic hardship in your business so keep reading.

First and foremost, I am not denying that there is economic hardship out there. I’ve adjusted my budget and cut back on some non-necessities. However, it doesn’t mean having a profitable business isn’t possible, because it is. I’ve been experiencing some of the highest income months in my photography business which means so can you!

Economic Hardship is a Cycle

We typically experience some type of recession every 6.5 years according to [insert website]. This statistic should bring you hope and show you that this is a cycle! While it’s not fun or a rollercoaster I want to be on, it is going to happen. The United States has suffered though 12 recessions since the end of World War II. It’s just a part of how the economy works. The tide will turn.

Don’t Make These Mistakes Out of Desperation Due to Economic Hardship

Don’t make irrational decisions to get you by in business. Just because things get tough, it doesn’t mean that people aren’t buying things or booking sessions; they are. People still want photography services. There are still events happening that people will book photographers for. Some of these are once in a lifetime experiences.

Some mistakes you might be making that is actually hurting your business for the long run include decreasing your prices, offering discounts, and doing pay what you can sessions. You don’t need to be doing this. If you have been doing some of these things out of desperation, you are building up a discount clientele that is never going to pay you full price for anything.

Focus On These Two Things To Increase Bookings

The one thing you need to focus on to increase your bookings especially during a time of economic hardship is your brand messaging & positioning & your marketing. Your brand is how you stand out from other photographers. Saturation is not a bad thing; it means there is a demand for what people want. If you want to stand out from the saturation in your area, you have to have a clear & unique brand position.

IF you are in panic mode and you are discouraged because you are not getting booked, I want to encourage you to stop discounting & run your pricing for profit. Use this formula to calculate that. You have to continue to check on this especially during inflation because our expenses continue to increase. As that happens, your income needs to increase as well.

Ways to Go Deeper In Your Photography Business

In order to increase your business, you can binge the Book More Clients Photography Podcast, join the From Broke to Booked Blueprint program, or join our Photography Community on Facebook.

The economy is one teeny tiny part of the cycle. We are just in this phase right now. But you know what? It will pass! This is just how the economy works. You can still find success in your photography business.