July Sales Exceed Expectations

Boy what a difference one year makes (and a whole lot of work).

Last July I had one portrait session.  One.  For a friend.  Um, yeah, it was a slow month.

I just figured it is hot in Houston, people are vacating, and no one needs pictures, right?

Well, things were certainly different this year.  I had 6 session in July (and two the last week of June) which is pretty much where I want to be for the number of days a month I want to work.  Some were newborn sessions so the outdoor temperatures didn't matter as much. 

And one of the big things I did this summer that I didn't do last year was offer mini portrait sessions.  These 20 minute sessions end up yielding about 20 finished proofs and are great because the kids don't get too hot and tired during the session because they are so short. 

Also, my actual sales for July were my highest for a single month to date.  How exciting is that?

My goal for this year is to double my revenue from 2007 and I'm definitely in good shape for that goal.    For year to date I'm about 2.5 times the revenue from this point last year.  2.5!!!!  Now I'm pretty realistic that I will probably not double my holiday season earnings since it was crazy last year BUT I'm pretty sure I will have higher sales which puts me completely on target with my earnings goals for this year.  If I were publicly traded my stocks would be shooting up.  :-)

Now as exciting as all this is, I'm not exactly flush with cash.  This is still an investing year so I'm putting the money back into the business with props, templates, equipment, and TRAINING.  The chart above is a chart of my expenses for this year through June.  Notice that big light blue block....TRAINING.  With both the Secret Workshop and Learnfest this year that is a big chunk of my expenses for this year (and I still owe a balance for Learnfest).  But it has totally been well worth it to help my grow both my photography skills AND my business skills.    It will be interesting to revisit this chart at the end of year too but this was a good halfway mark.

Also, these are just my expenses.  My Cost of Goods is broken down in a separate area in Quickbooks and right now I'm running at about 18% for my COGS (material costs). 

Comments

[Chung Nguyen]

Congratulations! Thanks so much for sharing all of the information that you do, by the way. I learn so much from your blog. (:

[Jill]

Hey Girl! Love your Blog!!

What software are you using to track your revenue and expenses? I've been using Quickbooks but it's been a PITA to set up for photography expenses. It looks like the one you're using breaks it out nicely!

[Laurel Housden]

I just stumbled across your blog today and I am just so thrilled that I found it. I have learned so much in the last few hours reading up your blog. I have just started my family photography business and you have given me so much inspiration. I was hoping you can set me in a good direction to learn more about marketing materials to send to clients before their session and more about pricing and setting up baby and maternity plans. Any help would be awesome. Thank you so much for sharing your success with others that are just starting out.

Cheers
Laurel
Gainesville, Florida

[Lisa]

Love every post -- thank you for sharing everything you are learning!

[KM]

I enjoy reading and learning through your growing business. Could you possibly share the steps you take from the end of your photo session to when the pictures are handed to the clients?

[christy]

I love your blog!!! I have been addicted to it over the past few weeks of finding it. I can't thank you enough. I would love to know the answer to Jills question. Your using Quick books for all of your tracking and accounting?

Christy

[cindy]

One more knock my socks off post. You're on a roll! I am in the first phases of my business right now, and the business side is overwhelming me at the moment. I have no realy income to invest right now, since my hubby and I are...choke... both entrepenuers with no steady income other than our infant businesses- its an adventure to say the least. Its uplifting and enlightening to see your goals that you are setting and your way of tracking them. Thanks for the inspiration. I would barrage you with questions right now, but I think its too early in our relationship! ;) Thanks again!