After having our first son, my husband dead-ass looked at me, and in the kindest way said, “If you want to stay home longer, start charging people for these photos you’re taking.” And the rest is history from there. I wish I was kidding. But I truly had no plans on starting my own photography business. I always knew entrepreneurship was for me, but I wasn’t quite sure how to get there. And after having our first, freedom with my time, being my own boss, and ultimately being home more with our kids became a very appealing idea.
Choosing the Right Business Structure
What’s the difference? I am no lawyer or accountant by any means, and I will always first advise that you speak with one in your state to ensure you are making the most appropriate decision for your business. But in the simplest of measures, this is what I can explain…
Personally, my first few years in business, I operated as a Sole Proprietorship. I was not making an insane amount of income and we did not have the same assets we do today. I was still teaching, therefore it made it easier to combine all money that was coming in. Versus, when operating under an LLC, all of your personal and business finances/assets need to remain separate.
As my business and our personal life grew and began to change, it made more sense for me to operate under an LLC. I was beginning to travel, we bought a home, financially my business was bringing in a significant more amount of money, and me leaving teaching was beginning to become close to reality. The protection an LLC provides, by separating business and personal, made more sense in the grander scheme of things as we transitioned into the next phase of our lives- owning a home, growing our family, and me working for myself.
From Hobbyist to Professional
The first camera I ever owned was truly a camcorder of sorts at the age of 9. That was first on my Christmas list (and yes- there are poorly shot home videos to prove it). At 17, I got my first DSLR camera: a Nikon D3100. A professional, yet beginning, hobbyist camera. It served me well for several years. I upgraded the lens to a 50mm and began to test out different things.
I started my business in 2018, so ultimately, 9 years after getting my first camera. Towards the end of that year, I began renting higher grade equipment to test out what else was out there. And truthfully, if I was really going to commit to building this business, I knew I needed to make the investment. I first rented the Nikon D750 and then the D850 on several occasions. I immediately fell in love with the D850 and after realizing my rentals of the equipment were rounding the price of the camera itself, I made the investment in the summer of 2019 and bought one to call my own. It completely changed my confidence and broadened my abilities in my business. It allowed me to create like I had never been able to before.
Turning Passion into Profits
My first year in business, I made around $8,000 and I remember thinking, “Holy shit! That’s decent money for a side hustle!” It’s funny to think about now, but also everyone starts somewhere- and I still stand by that thought. It was decent money for a side hustle that I was still navigating through! After about three years in business and the conversation of me leaving teaching came to the table, I began becoming more focused on setting financial goals. I compared what I made at my full-time job teaching in addition to the extra income from my business and really looked at our family expenses. That helped us set a realistic numerical value on when I would comfortably be able to walk away from teaching.
One great tool to manage your financial goals is to create a spreadsheet that makes sense for your business. I have one that I fill out at the start of each year. I plug in the income I would like to reach for the year and work backwards. So how many weddings would I need to book? How many family sessions? How many mini-sessions? Etc. That way, for example, when I did not book as many weddings as expected, I can adjust and market for more family sessions or vice versa! It’s the quickest tool that allows me to see how on track I am in reaching my goals for the year.
Overcoming Roadblocks and Bloopers
Now I’m making this all sound as if this all came very easy to me, but that is not the case at all! The roadblocks were endless! Taking a photo was only half the understanding needed. The editing- dear Lord, the editing! If I said I was prepared with all the knowledge in the world to edit photos prior to starting my business, I’d be absolutely lying to you! When I look back on some of my first few photos I ever edited and compare them to today, the growth is miles long. Some of it laughable- because looking at those images now through an artist’s eyes, I cannot help but question, “what was I thinking??”
Mistakes have always been my biggest learning point- and believe me, I’ve made plenty! From not properly backing up files (YIKES!), to mismanaging and overlapping bookings. I’ve done it all.
Building a Brand and Growing a Business
But you know what, that exact thinking is what has led me to focus so deeply on my brands identity. Because some of those first few clients in my starting years are still with me today- growth and all! And that says a lot. We as consumers invest where we are made to FEEL good, not just look good. The beauty in any artist industry, including photography, is that no two artists can ever be the same. Not their work, the experience they provide, the business they operate. So really leaning into myself and my personal core values as my brand has allowed me to scale to places, I only ever dreamed of.
Embrace the Journey
I say it all the time and I’ll gladly say it again, you do not have to know what you are doing to start- you just have to START! Starting somewhere is better than not starting at all and along the way you will find your footing! And this is for any business venture out there. My journey has only proven to me that I really can do all the things if I stay committed, consistent, and focused in on me. The future is holding so many things yet that I cannot wait to share. We’re talking further expanding not only my photography business, but things around here on this blog as well! At this rate, I’ve gotten a taste of how much I can do and it only makes me want to try more!
Share your aspirations with me! Let’s bounce ideas around and get you moving towards your own journey in entrepreneurship. Follow me on IG at @kait_ejensen to connect some more!
