Get Serious About Your Photography Business Plan @MediaNovak
A photography business plan is the most important part of any photography (or other business) aside from drive and desire of the owner(s).
A properly executed business plan with due diligence exercised beforehand will avoid your entering an enterprise that is doomed to failure. Planning encourages one to think carefully about your venture before you have the task of actually running it and makes running the venture easier by directing you to take an unemotional, objective and critical look at your business process without being under pressure from things going wrong while actually trying to run the business.
The business plan is a tool that is used in the pre, during and post operative phases of any business. It allows you to manage the business properly by knowing expense levels and what sales targets in order to be profitable. It is not just enough to make sales but you must have a targeted sustainable level of sales to meet current and future expenses and provide a return on your investment(ROI). If you are obtaining a loan for your business it is likely a requirement for the lending institution unless you are going to finance your enterprise with personal credit; even then it is prudent to do a complete business plan.