Bev's Blog

As we continue our series on Life is a Highway, using traffic signs to symbolically teach us lessons, I thought I would take this week to talk about policies and decisions we have made over the years that have successfully paved our path. Many of these decisions rested on us “not entering” into certain mindsets or policies, but instead, choosing a different road.

First “Do Not Enter” decision…taking control of our time

When we first started our business, I remember that we would take an appointment any time of the day and any day of the week. We worked from early morning until late at night, weekends and holidays, while my parents babysat our young children. One day, worn out and nearly burned out, we sat down and made the “Do Not Enter” decision of setting limits on our time at the business in order to make time for our personal lives and our children. No longer were we saying yes to working anytime our clients asked us to. We realized a HUGE life lesson that we must take control of our time; it wasn’t our clients’ job-it was ours! If we let them, they would book us on Sundays, Christmas Eve, Thanksgiving, every evening or anytime we allowed.

Our schedule was altered to allow family time by limiting evening appointments to two nights each week. We no longer went in early, adjusting our opening time to 9:00. Today, it has been shifted again to 9:30, with the first appointments booked at 10:00 and we close at 5:00. We made the decision to never work on Sundays in order to devote the entire day to church and family. From that time to today, we “Do Not Enter” the arena of working day and night without limits!

Second “Do Not Enter” decision…projection sales

Many of you don’t remember the time before digital came into play, but when we first started our business, we shot film. Even in those early days, we were determined to project our images for the sales appointment, but with negatives, we had to find a place to process our film and then make positives (slides) from the negatives. The only place in the beginning was in California and the slides were called Transviews. They took two weeks to get back and then we had to load them into a projector, show them on a screen and manually pull out the rejects. The zoom (to show sizes) was me, picking up the projector and walking closer or farther away from the screen, thus enlarging or decreasing the image size.

This method was difficult (though rewarding), but we were convinced it was the right decision for our business and we symbolically put a “Do Not Enter” sign on the idea of printed proofs. When digital photography was birthed in our studio, it would have been easy to post the images online for our clients to order or just hand over a DVD of images, but again, we had to make the “Do Not Enter” decision of not doing anything to damage our sales and reputation as print artists. Tim always tells the clients that the image is only partially done when the button is pushed in the session. The image can only reach its potential in printed form and we consider ourselves print artists, not digital artists. Even when posting an image on Facebook or our blog, we always put “DRPA” in the bottom right, meaning “Digital Reproduction of Printed Art.” When our clients ask what the letters mean, we have the opportunity to explain our passion as print artists.

Third “Do Not Enter” decision…discounting, giving away or lowering prices

At the risk of repeating a current theme, I wanted to again talk about how damaging discounting, giving away your photography, or lowering your prices is to your business in the long term. Though it may increase cash flow in the short term, the long term damage of drawing the wrong clients (those looking for a bargain) to your business is inevitable. We want  clients who love what we do and since what we do is unique in our area, they cannot go somewhere else and buy it at a cheaper price. When they love what you do, they will pay what you ask and they will refer their friends. Remember the two important “R”s in any successful business are “Return” and “Referral.”

Granted, reputation provides privilege, and we have a longstanding, good reputation in our area, so we can be a little more demanding, but whatever level you are at, be sure you don’t sell yourself short. There are many places that can undercut your prices, so you don’t want to compete on that. There are many places that have a more convenient location than you do, so don’t compete on that. You will lose!

Instead, be creative in how you can attract clients that don’t depend on the lowest price or a Groupon. After all, photography is a creative profession, right?

This week, write down your “Do Not Enter” decisions…in other words, decisions where you put a roadblock up and say, “I will not walk down that road!” Sometimes it is an easy decision, but more often, these kinds of decisions are not easy. However, they are critical to your future and must be made with much thought.

We have never regretted any of our decisions, but they have not always been easy, especially when pressure comes to do the opposite. So, stay strong and have a great week, everyone.

Bev

www.timandbevwalden.com

STOP…CAUTION…GO!

We must learn when to stop, when to go and when to proceed with caution. If we do nothing, paralyzed by fear or indecision, we will not move forward nor succeed, but will move backwards There is no such thing as standing still!

After nearly three decades in this industry, one thing I know today is that we are moving at breakneck speed through an ever-changing landscape which we must navigate with great wisdom in order to succeed.

Every Tuesday, from ten o’clock until noon or later, we have a marketing and brainstorming meeting with our staff. Ideas are discussed at length, dreams are laid out for inspection, goals are set, final decisions are journaled in Evernote and tasks are assigned to those whom it will take to proceed with the plans. Why do this every week? Very simply, because we need to move at the speed of light to keep up with the industry! Missing just one week can have devastating ramifications. Those who are not willing to put time into understanding the landscape of photography and today’s changing marketplace will certainly find themselves falling behind. Think about the old saying, “Success is 10% inspiration and 90% perspiration.” There is no magic bullet and  hard work is certainly part of the puzzle, but not all of it. We need to learn how to successfully make decisions.

“The big fish are no longer eating the little fish. The fast fish are eating the slow. To succeed today, you must think quickly, act quickly.” Roy H. Williams

I once asked Tim about how he made business decisions and he compared it to surfing. Surfing? As he explained further, he said balancing in order to stay standing upright was a matter of understanding what was happening underneath the surfboard, in the water. Constant adjustments to the undercurrents had to be made, some big and some very small. If not understood, they would cause a fall. “One has to perceive with great sensitivity what direction to lean to keep your balance; it takes experience and wisdom to successfully ride the waves to the safety of the shore.” said Tim.

That is why education is critical for success for those new to the profession. And, that is why education is critical for those of us who are seasoned “veterans.” We are never in a place where we can sit back and stop learning. Click on the Coaching Community button on the right to learn about our online learning center.

Just as important as knowing when to go is knowing when to stop! Knowing when to stop requires a person with amazing decision-making skills!

“More decisions are lost by indecision than poor decision.” We have always heard that saying and we live by it. We make decisions and live with the consequences, but we have the experience to back them up. For those new in the business, it would be wise to connect with others who have more experience and learn from each other. Those new to the business bring a fresh perspective. Those who have been in the business awhile bring wisdom and experience. Now, more than ever before, opportunities seem endless. But, along with the opportunities, come challenges. We need each other to help sort through the massive amounts of information we take in daily in order to make the right decisions.

“Never has there been a time that I can remember where wisdom is not in knowing what to do, but what to pass up!” Tim Walden

When we go to a convention and visit the trade show, never it this statement more meaningful. With digital technology came hundreds…no, thousands of new products and ways of doing things. However, you must decide what fits you and what doesn’t.  Turn away from anything that muddy the waters around your brand and stick with fewer offerings. Simplicity is always the winner. Make a wise decision!

As more and more opportunities come your way, polish up your decision making skills so you know when to say no (STOP), when to proceed with (CAUTION) and when to (GO)!

Steps to help  you…

1. Evaluate all of the options first. Think outside of the box; get a little crazy. This is why we include our staff in the marketing meetings we have weekly. They have a different perspective and it is always helpful.

2. Think about the decision from all angles and weigh the outcomes. Talk it out or write it out. Do not be ruled by FEAR (False Evidence Altering Reality). “Fear makes its own plans.” Tim Walden

3. What is your “gut” feeling about the decision? Don’t ignore it.

4. Implement the decision. This is where Evernote comes in as we can assign tasks to various staff members and track progress. It helps us not to lose steam or let details fall through the cracks.

5. Evaluate your decision afterwards. Learn from it; draw insight and wisdom from it. Change it up if you need to and adjust as required. We usually have to tweak our decisions as we go along and it’s ok to do!

Have a great week, everyone! Bev

PS-Check out my Book Loft too! Just click on it at the top to see what books have impacted our business the most. Message me on Facebook.com/waldens education for photographers to see what I am reading right this very minute:-)

www.timandbevwalden.com

Inspiration can come from many places and recently, I thought about traffic signs and how they relate to boutique businesses! In this blog, the traffic sign I want to discuss is STOP!

As owners of a high-end portrait studio for many years, we (my husband and I) have seen many trends come and go. Today, one of the trends we see that is destroying boutique businesses is discounting. It seems to be the “thing” these days!

STOP! Don’t even try to compete with the the big stores like Sears or Walmart. You are unique and offer something they cannot…customized products, over the top service, passion and your creativity. Your target client is not their target client anyway. They attract price-sensitive buyers who are looking for the lowest price which they can offer due to their negotiating power. You cannot compete in that game! You need to connect with the right client who loves what you do and is willing to pay what it takes to get it.

We often say, “Create a GAP!” This is where success lies for the boutique studio rather than discounting. It is a different mindset. A GAP is the distance you put between you and any others with whom you compete. What creates GAPS?  Uniqueness in your offerings, close relationships with your clients, a high level of skill, over the top customer experience and again, you! Think about ways to keep increasing the GAP. Get creative!

Whether the discount is a Groupon or a free portrait, I am proud to say that over the years, we have not used this technique. We believe our product is valuable and worth the price we charge. When you give photography away, it is immediately devalued and in the consumer’s mind, worth what they paid for it-nothing! Unfortunately, once a client receives a discount, they expect it every time! Think about Bed, Bath and Beyond-I don’t shop there unless I have a 20% off coupon. I am not loyal; I only want a discount and will wait until I get one before I give them my money. And think about those who choose you based on a discount-are they really the client you want in the future? Again, it comes down to finding and connecting with the right client!

Many ask us what we do with friends and family who want our product discounted or free! We came up with the perfect idea, at least for us, and I wanted to pass it along. We realized that if we simply took an amount (a percentage) off their bill, they were oblivious to how much they saved, (it wasn’t real to them) or they were mad that we didn’t give it to them free! What we decided years ago (and it works like a charm) is to give a Gift Certificate with an amount on it that is pre-determined and depends on whether they are friends or family (in case they compare, we use the same amount each time). With this approach, they feel like we are actually handing them cash and the response is completely different-they are grateful! It is amazing that this small change creates such a positive outcome.

In this blog, it is my goal to make you STOP and think about your business and how you can create GAPS for a prosperous, long-term outcome. Don’t panic and make the mistake of thinking a discount will make everything ok! It will short circuit your long term prosperity, de-value your brand and bring you exactly the wrong client!

Have a great week, everyone! Bev

www.timandbevwalden.com

We have never been a business that offers discounts or coupons; our reputation and success has always rested on the value of our product rather than price. However, I see more businesses than ever before considering discounts in order to get people through their doors. While coupons and discounts may, in the short-term, generate cash, I don’t believe they are a smart move for business success. In this blog, I want to discuss 3 things to consider before going that route and some alternate ways to get clients through the door. Years ago, I remember our marketing director making the statement, “If you discount it, they (clients) will come (to expect discounts).” I believe this to be a true statement.

#1: Not sustainable as a long-term stategy.

Think about reasons prospects consider your business. They may love your style, your products, how you conduct business, your personality and so forth. Do you want to attract these buyers who love you or price-sensitive buyers, interested in saving a penny here and there? Offering discounts and coupons tend to attract price sensitive buyers who focus on price rather than value and artistry. They are looking for a bargain. Once they use the coupon or discount once, they may never come back. They are only interested in your business because of the coupon or discount. This is not the type of client you can build a long-term strategy on and it is really difficult to ever charge them the full price on any product once they have received it at a lower price.

#2: It could hurt your brand and lessen the value of your product.

Coupons can lower the perceived value of your brand. Especially in a high end business, the offer of any coupon or discount can make you look cheap. We have built our reputation as a boutique studio over years and years, but it could all come crumbling down in a matter of moments if people see our product offered with a discount coupon. Once a client gets your product at a discount, it lessens its value for any future purchase at full price.

#3: What about your loyal clients?

Offering discounts, especially to first-time buyers, can cause a sticky situation with your loyal clients who have spent money with you over the years and paid full price. If someone’s neighbor gets the same product as they have, but for half the price, it can create a problem. Our clients tend to run in tight social circles and they know intimate details about each others’ lives and they would know if this ever happened.

Alternate Idea #1: Gift with Purchase

We run a “campaign” every January and February and have done so for years where we will frame any black and white wall portrait purchased during these months in our gallery frame at no charge. We NEVER discount our photography, but we will use the gift with purchase idea (frame with purchase) as it encourages business during the slow months. However, we are careful about knowing the price of the frame and what we can afford to give as a gift to make sure we don’t hurt our profit margins. Think about items you can use for this ideas that are not normally offered. Try to avoid discounting your photography or giving it away. Give notecards, frames, mats, accordion fold books and so forth, but keep your photography sacred!

Alternate Idea #2: Gifts through Partners

We do drawings at special times throughout the year with our partners. For these events, we give a Session Fee and a portrait of significant size. In addition, we ask our partner to look through the people who signed up to win and choose another dozen that we can send a gift card to for a Session Fee and a smaller amount. This is a wonderful way to get new clients through the door while still maintaining our reputation and brand.

Alternate Idea #3: Working with Charities

This is another way to offer your product at a special price. For example, we do a pet charity event every year and the Session Fee is a $25.00 bag of dog food that will go to our Humane Society. In addition, we offer special collections that are never available any other time of year. This is a wonderful way to get new clients and not dilute future business or our reputation.

Alternate Idea #4: Auctions at Private Schools and Charities

In the beginning, we gave a small gift to a large number of schools and charities. After carefully tracking the type of client each brought us, we narrowed our giving to the two largest private schools in our area and just a few charities. This way, we can give a more substantial gift which draws the right type of client rather than an 8×10 which doesn’t draw that same clientele. It can also lead to special fund-raisers with the schools once you have built a relationship with them. It plants seeds now for a harvest later!

Every move you make in your business has potential for success or failure. Be careful what you choose for quick gratification if it hurts your future success.

Have a great week! Bev

www.timandbevwalden.com