Why You Need a Business Investment Fund Every YearSep 22, 2023
Sometimes, we think we just have to invest in our business in the early years. We think, once I get to *this* point, I will stop spending money. If you think this now, years from now you will look back and laugh at yourself. Investing in your business is actually a MUST in my book. You are never going to know it all or have it all. We want to continue to better ourselves and our business at every level, not just in those early days. When most of us think of investing in our business, we think new gear, yay! There are so many ways to invest in your business that go beyond gear.
Ways to invest in your business
1) Education | course & workshops | mentor sessions | retreats
Education looks a little different depending on where you are at in your business. I promise you, there is always education for any level. Someone always knows more than you or knows how to do something better than you. Sometimes, a self-paced course or a workshop is the best fit. Sometimes you need more specialized mentor sessions and want that one-on-one time. Retreats are also an incredible way to get inspired in your business.
2) Purchasing templates to update your business processes or guides
Templates are a great way to make part of your business better. The most common is email templates, investment guides, wedding guides, wedding magazine templates for clients, website templates, etc.
3) Hiring a lawyer to get a legal contract set up or purchasing a strong contract template
This one took me a while if I am being honest. There are templates you can use from most client management systems. Honestly, those just aren't enough. They aren't giving you the full coverage you and your business really need. I kept adding onto mine as I experienced different things in my business or heard horror stories. I interviewed a lawyer on the podcast and it just made me realize that there was a really good chance that most of my "additions" wouldn't hold up in court because they were not written by a legal professional. This is a not so fun investment, but an investment your business needs. In my case, I had my lawyer go through my current contract and make it legally legit and add what I was missing. There are amazing contract templates you can purchase as well that go beyond just that basic template you started with.
4) Styled shoots & creative shoots
Often times, we think styled shoots are for building your portfolio. Why yes, styled shoots are great for new photographers, they can also be hugely beneficial for photographers of all levels. If you are wanting to create a certain look (like more luxurious) or rebrand, you may want to invest in styled shoots that will help you showcase where you are wanting to go with your business.
You can also do creative shoots which are more simple, but allow you to be creative and try new things. Think of a shoot you've always wanted to try. Well, make it happen!
5) Relationship networking
I love network marketing and connecting with other wedding vendors. But, taking a bunch of wedding planners to lunch can get a little *cha ching*. This is an investment for you. Take some time in your slower months to reach out with vendor managers and wedding vendors and work on creating relationships. A lot of people will also do gifting for vendors once or twice a year as a thank you for their relationship. However you want to invest in your relationships, it will be worth it for your business!
6) Outsourcing part of your business
This might not be considered an investment for everyone, but it is a way you could take something off your plate and invest in your business. Whether you want to hand off editing, hire someone for Pinterest, get help with marketing, or something else... this is an investment in your sanity and time.
7) Non-gear purchases
There are lots of non-gear (lenses & cameras) that you can make for your business.
- Flatlay kits for detail shots
- New laptop/computer
- Cool filters
- New bag
8) Get presets
Want to take your editing to the next level? Grab yourself that preset you have been dying to have!