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COVID-19 is Killing the Events & Photography Industry!

March 2020 | Pineworks Malaysia

[MUST-READ] 5 TIPS PHOTOGRAPHY BUSINESS SURVIVAL COVID-19 ☣️
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One of the badly affected business because of COVID-19 is PHOTOGRAPHY, we talked to some of our clients are they all said the same thing! Cancellations & Postponed!
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How can you prepare for your business survival in this pandemic? What you should be doing to ensure your entire photography carrier does not just VANISH!
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Here's our 5 Tips:
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🔥#1 - FOCUS ON CASH FLOW!
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You should be really focusing on 'money coming in' , We do understand many clients choose to hold on, postpone events or even cancel it to a future date, but this does not mean you should do nothing about it. Try to get clients to pay 20-30% deposit at least to get the cash flow in for temporary.
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🔥#2 - CASH RESERVE!
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We all learn that Cash Reserve (CR) is extremely important in time of crisis. Many photographers have less to no CR at all, this is due to investing heavily on props, equipments, cameras & lifestyles. Try to keep 10% as company CR everytime you close a deal. This will come in handy whenever there is a crisis!
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🔥#3 - INCREASE MARKETING!
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This is time where many people reduce marketing spend & budgets, but trust me the COVID-19 situation will not last too long, if you want your clients to know you exist then up your budgets for ads & be infront of them when no one wants to be! (helps in getting booking as well)
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🔥#4 - MOTIVATE TEAM!
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If you run a photography business with a bunch of others as a team, you MUST keep your communication going all the time! As a leader this is the time you need to provide support for them! Motivation keeps your team holding on an not giving up their carriers as Photographers!
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🔥#5 - MAKE IMPROVEMENTS!
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You may not have shoots going on now, but you have all the time to make improvements! Now is the time to change your marketing strategy! Redo / Improve SOPs , learn about advertising & branding etc etc. When the crisis ends you want to be READY to roll, face the world and revive back!
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Lastly, remember not to give up! think about why you started this photography carrier in the first place!
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"Tough time wont last! Tough people do!"
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