Here's a question: How do you know when you're ready to start a photography business? Answer: When you 'know' that you 'know' (the doublespeak is for emphasis) the difference between your artistic photography skills and your understanding of business. Knowing the difference makes the difference between success and failure when you start any type of business, for that matter.
Think about it, the art of taking pictures is getting easier and easier - especially with the advancement of technology. Digital technology has made photography so easy that it appears that everybody and their brothers and their sisters are photographers! Such ease makes photography a very popular attraction and very compelling to start a photo biz.
But, what many budding photographers fail to realize and take seriously is that: Business is Business. Whether selling teddy bears, cell phones or photography, the business principles are the same. And they are basic and simple (not easy - simple). Successful photographers aren't necessarily the most skilled. They understand and practice the basic and simple principles of running a photography business. They also don't confuse the quality of their photography with the need to plan, market and operate their photography business.
Don't be confused! You must consistently produce top-notch quality products and photographic services. Constantly improving your skills is critical. So is the learning and consistent practice of business principles. If you don't consistently practice the necessary business principles, budding photographers that do know the difference and practice the principles will get the customers and the business that should be yours. If you fail to practice the principles you will fail at your photography business attempts. Period. You will be another charter member of the 'starving artist' club! There's a reason why they're 'starving!'
Once you do start a picture-taking business, every day that you're in business there's opportunity to grow and prosper, and the chance to stagnate and fail. Your being clear on the difference between photography practices and business practices determine the success of your photography business more than your photographic skills and talents. Be sure to spend as much time developing your photography skills as you do your business (marketing, self-promotion activities, for example) skills and you will find success.
Compliment vs Reality - Tip #2
Most budding photographers have this experience: a good friend, family member or neighbor sees a photograph and 'raves' how good it looks and how 'valuable' it 'should' be! Somewhere in their raving they proclaim, "you should sell that, you'll probably make a lot of money!" Red flag warning! What is given as a compliment of your photograph is instantly translated to your having a "diamond" that you can sell and that will change your 'status' in life. Here's a test: the next time you receive such a 'compliment,' do this: thank them and then ask them how much are they willing to pay you for the photo? I promise you that the same 'expert' that just raved about your valuable artwork will pass on the 'opportunity' to grab up your 'valuable' artistic photo. In the photography business value is determined by other criteria than a compliment or two. Knowing the difference contributes to your success in business.
Develop your knowledge and skill and your confidence as a photographer will dramatically increase. Likewise with business: develop and practice basic business principles and your confidence as a successful professional photographer will dramatically increase. I promise.
Research Builds Confidence - Tip #3
Do your research. Go online and read the available research on the business of photography. Read before you buy. Online research is just a click away. Take your time. Take advantage of free and easily available information online. If you choose to buy something offered, determine what goals you want to accomplish and ask yourself will what you're buying help you to really meet your goals. Avoid the resources that promise and guarantee you that you can make $200 - $300 a day overnight - for obvious reasons. Also, there are no "secrets that the pros don't want you to know!" There is information that you do not know now. But, isn't information that is unknowable or impossible to find out - they're just unknown to you at this time. Do your research. Besides, if they're for sale, how "secret" can they be? Do your research
In the business of photography, it is more profitable to specialize. Specialization (also referred to as your "photography niche") is how your customers will find you. Another development of technology is how customers - those who can afford and are willing to spend money for photography - find the photography that they buy. They look for something specific (in photographer speak that means "photography niche"). Go online and do a search on "photography niche" and take advantage of the information available. Remember, read before you buy; there are no "secrets that the pros don't want you to know;" and great photography does not sell itself. In the world of business, nothing does.
For business purposes, go online and do a search on different business topics that you want more information about. For example, do a search for "photography marketing" or "marketing for photographers" or "amateur photography tips" or "how to sell photos online" or "how to start a photography business" etc. etc. Read before you buy.
Know And Start Where You Are And Be 'Sincere' - Tip #4
Start where you are with the equipment that you have. If you don't have a photography studio don't take on photography jobs that require a studio. Don't be all things to all people - remember, specialize (research "photography niche" - you'll be head and shoulders above the majority of your competition). If you feel that you have to purchase equipment to take on a job - that's a red flag that you're not ready, yet. In successful photography, the profit is in the "photography niche" and your understanding of that simple difference.
Doing your research will prepare you for one of the biggest challenges most photographers have - pricing. The challenge of knowing exactly what to charge stops most of us in our tracks. It shouldn't! Do your research. Search "photography pricing," for example. The information is available and most of it is free. Remember, read before you buy.
In my opinion, there really is no one criteria needed to start a profitable photo business. However, my experience has convinced me that self-confidence is the most significant asset a photographer in business can possess. You develop that self-confidence by knowing what you know and knowing what you don't know - and being crystal clear on the difference. Confidence is gained by knowing the necessary criteria needed and knowing that you possess the knowledge and skills to consistently accomplish tasks in a satisfactory manner.
Research, develop and practice both your photography knowledge and skills as well as your photography business knowledge and skills.
Finally, when vaudevillian, George Burns, was asked what was the secret to his successful career, he responded - "sincerity, be sincere - even if you have to fake it!"