Small Business Blog | Before You Quit Your Day Job….

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Photography Business Institute
Photography Business Institute

Cubicles can feel like prison, and I know you’d rather dive nose-first into your passion—working for yourself, snapping photos, teaching fitness, creating artistic pieces, or searching for the next really super- cool-but-impossible-to-find product.

Let’s be honest, who wouldn’t?

All too often we hear about owners of new boutique businesses who dive in before testing the water and establishing a solid foundation. When you dive in, you don’t really know how viable your business will be, because you haven’t tested your concept well enough. Are you currently making money? Are you getting referrals? These two aspects of business are extremely important considerations before you take the plunge.

If you have yet to truly open the doors of your business, are considering a new endeavor, or are already acting as a business owner even though you still have a day job, we suggest getting cozy with your cubicle until you consider the following:

1. Your Customers: You don’t have a business without customers, and just because you open a shop doesn’t mean they’ll show up.

2. Your Cash Flow: Yes, you can operate a small business on a small budget, but keep in mind that in order for you to walk away from your day job, your business needs to be able to fund itself (operating expenses, marketing expenses, equipment, etc.) and your personal needs (food, clothing, health insurance, shelter, etc.). We see too many people assume that they can quit their day job as soon as they sell their first gadget and go with the “build it and they will come” strategy.

3. Your Timeline: Growing a business takes time—especially a boutique business where you’re building long-term relationships with your customers. Figure out how much money the business requires to pay bills. Figure out how much money you need to survive.

To get more tips on branding, marketing, and small business strategies, download a free chapter of my New York Times Best Selling book, Worth Every Penny: Build a Business that Thrills Your Clients and Still Charge What You’re Worth at: https://photographybusinessinstitute.com/our-book/try-a-chapter/

Also, check our small business blog for new weekly posts!

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