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Author Topic: Feasability Study  (Read 10093 times)

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« on: May 16, 2008, 10:02 »
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Hey all,

I've been lurking for about 3 months now and I've finally gotten up up the courage to dive in to this (slightly wacky) industry. My goal is to replace my part time job with stock over the next three months (I don't really make all that much currently).

I'm in the process of setting goals (this experiment kicks off at the start of June) and I am looking for some input from some more experienced shooters.

If I am working 8-10 hours a day, 5 days a week shooting, editing and uploading ( to the big 6 + BigStock) what can I reasonably expect to get done? How many images can I reasonably expect to shoot each day? What can I reasonably expect to be making after three months?

Obviously these questions have different answers for different photographers, I'm just looking for a baseline of other peoples experiences and opinions so I can set good goals for myself.

I'm starting from ground zero more or less. I've got all my accounts set up but no more than 12 images accepted at any site and no more than $5 in sales anywhere. I am well equipped   which I suppose gives me a leg up.

Anxious to hear some opinions and thoughts!



« Reply #1 on: May 16, 2008, 10:13 »
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well if you are well equipted then that should be set and if you have 12 images accepted you should have at least a start of an idea of what is accepted/rejected on the various sites.

For myself - who is doing microstock full time (along with a few other things that get me sidetracked... but mostly stock) I try and get 200 images online each month.  it is a pretty low goal as far as full time microstockers are concerned but it is one that is achievable for me so I am happy with it.  It takes time to shoot, keywords and upload to lots of sites -  Others might have 100+/week.  People who have a 'team' working for them obviously have more, but that can't really be compared to a one person 'team'

You can plan on anywhere between 50 cents - $2.00/image/month,... probably something in the middle.  If you have 1000 images online after 3 months you should be making at least $1,000/month.


« Reply #2 on: May 16, 2008, 10:31 »
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So it would not be unreasonable to set a goal of 75 accepted images each week? That would put me on pace for a 900 image portfolio after 3 months which sounds like it would more than replace my current income.

Being a college student I'm on somewhat of a starvation income. Luckily that makes it that much easier to be successful in stock  ;D   

« Reply #3 on: May 16, 2008, 10:55 »
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This is a common question, but there are too many variables between individuals and styles, and what is current to predict with any certainty. 

Subjects mean a lot.  Unfortunately, you may be the worlds greatest landscape (or whatever niche) photographer - but landscape photos do not really sell like hotcakes - however they will earn a very slow steady income for a long time.

And you may also be disappointed with your immediate results.  You might upload 300 fabulous true "stock" photos, but they may not take off for 3 or more months on some sites, so the immediate return will not be there.  (i.e., don't quit your part-time job if you need the regular income.)

So, the only way to know is to give it try!  It sounds like you have a good plan, and if you can stay on track I am sure you will see rewards.

« Reply #4 on: May 16, 2008, 11:01 »
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Is that 75 across all sites?

There are some stats out there on average $ return, per image, per site, per year, that might be worth looking for.

Also if you are aiming at ("working 8-10 hours a day, 5 days a week shooting, editing and uploading ( to the big 6 + BigStock)") part time, and you are a student, when are you going to study, classes and party?

Would it not be better to set goals after trying out a sample, then analyse Images Shot, Processed, Uploaded, % Accepted, and if they get any sales, then add a small stepped increase "%" as you get better and quicker.

My advice = set small increasing goals that you are likely to achive, by setting goals to high, it could mean that you do well but think you have failed if you do not reach your "Target", you then give up your dream or change direction, which is not good for the self esteem.

David

;D
« Last Edit: May 16, 2008, 11:06 by Adeptris »

« Reply #5 on: May 16, 2008, 11:26 »
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Wow quick input.

On the bit about having time for school, school is out until September and I should be able to find time to party now and again. The plan is to work Monday through Friday, 9 to 5, and upload in the evening for a couple of hours.

On the bit about not quitting my day job, I'll still be working one shift a week (sunday afternoons) plus I average a couple of paid events each month and sell the occasional print. So I won't be relying on stock alone. And if I fail miserably I can always pick up more shifts at the old job.

Great idea about the shorter term goals, I'm sure I'll do that to challenge myself to get faster and better as things progress. I guess what I'm looking for here is a very broad baseline so that I can have some reasonable goals and expectations to start with.

And I was thinking of adding up all accepted files and dividing by 7 (number of sites) to try and get an average of 75 but the more I think of it the more that seems like a poor idea. I'll have to think about that a little harder.


« Reply #6 on: May 16, 2008, 12:54 »
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Why don't you set your goal for getting some good quality, concept images accepted, and don't worry about the numbers?

Roadrunner

  • Roadrunner
« Reply #7 on: May 16, 2008, 13:35 »
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Something is wrong with me.  I'm lucky I can upload 20 images a month.  At some point, you are going to run out of things to shoot.  Unless of course, you have several models wiling to work for nothing.  ;D

Good luck!

« Reply #8 on: May 16, 2008, 13:40 »
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Quote
At some point, you are going to run out of things to shoot.

You really think so? :-\
I'm thinking the number of things to shoot is infinite. Of course you may deplete your immediate surroundings, but you can go to so many places to find new things, eh?

« Reply #9 on: May 16, 2008, 14:04 »
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Quote
Why don't you set your goal for getting some good quality, concept images accepted, and don't worry about the numbers?

Because the numbers are everything? Just like with any other job. I'm trying to treat this as a business, it's a bit of a mental switch from just being a hobby.


« Reply #10 on: May 16, 2008, 14:07 »
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No, the numbers really aren't everything.

« Reply #11 on: May 16, 2008, 14:14 »
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I think thats probably an easier opinion to have when you are already highly sucessful.


« Reply #12 on: May 16, 2008, 14:17 »
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Yes, but I didn't start by saying "I need to get 200 files up this week" as the first thing I set out to do.

« Reply #13 on: May 16, 2008, 14:25 »
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I understand your point (quality not quantity) and obviously thats very true, I don't plan on mass producing boring, flat images just to hit weekly goals. But with an end goal and a timeline in play it's nice to have some realistic expectations about what I can get acomplished and what other people get acomplished in similar time frames.

Due dilligience before spending a lot of 40+ hour weeks behind the lens and in front of the computer.




michealo

« Reply #14 on: May 16, 2008, 14:36 »
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I agree numbers are everything. Irrespective of the quality of image, as long as they are accepted & sell, more uploads means more income.

I would suggest dividing your time in the ratio seen to the right of here --->
spending the most on SS followed by IS and so on

After a month look at your overall earnings per site and if for example SS makes up 50% of your income then adjust the time you spend accordingly.

Images accepted is a meaningless metric without sales ...

« Reply #15 on: May 16, 2008, 15:00 »
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Good point... I guess if I upload 75 business style shots with smiling models it will get me a lot closer to my goal than 75 landscape photos.


« Reply #16 on: May 16, 2008, 15:17 »
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There's a lot of smiling business people out there.


« Reply #17 on: May 16, 2008, 15:24 »
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And no landscapes?

Someone should really exploit that.






« Reply #18 on: May 16, 2008, 15:27 »
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You should be aware that your timing isn't the best - summer is the slowest time of the year.

« Reply #19 on: May 16, 2008, 15:31 »
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Yah I've heard that mentioned as I lurked. Thanks for the heads up though, hopefully I can overcome.


« Reply #20 on: May 16, 2008, 15:40 »
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And no landscapes?

Someone should really exploit that.


Yep, Im allready on that one :)

and it is true that quality is more important than quantity, but you still need quantity if you are going to get real income.  You cant make a living from hundreds of images no matter how good they are... you need thousands.... but yes of course, the better they are the better.

helix7

« Reply #21 on: May 16, 2008, 16:13 »
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No, the numbers really aren't everything.

The numbers are everything, but not in the early days. Sure the money is important, and no one keywords and uploads for fun (despite some people saying that they are just in microstock for fun). But in the first few months, it's going to be really hard to predict earnings. I look back at my first 6 months and my earnings were all over the place. Up and down each month, sometimes by a lot. Only now, 12 months into my brief microstock career, can I actually begin to see some trends, patterns, and project earnings a few months ahead. A year ago, I had some ideas of what I hoped for. But from my experience, those predictions get tossed in the trash pretty quickly.



« Reply #22 on: May 17, 2008, 13:40 »
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Haha... so number of photos means nothing without sales but it's difficult to try and predict sales for the first few months. Time to formulate a new goal system.


« Reply #23 on: May 17, 2008, 13:58 »
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There are some bloggers reporting microstock earnings each month (but not from a full time shooting job).  Here is my recent post with links to few others:
http://www.pixelsaway.com/C911796005/E20080501052404/index.html

suwanneeredhead

  • O.I.D. Sufferer (Obsessive Illustration Disorder)
« Reply #24 on: May 17, 2008, 17:22 »
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Haha... so number of photos means nothing without sales but it's difficult to try and predict sales for the first few months. Time to formulate a new goal system.

I agree with sjlocke... too many variables... the main one being, your work has to APPEAL TO A BUYER over your entire portfolio... you have to have a knack for knowing what designers are going to want or need... watch trends and shoot accordingly, with a twist or spin that's unique to your own style, that's what sells! I am a graphic designer and a photographer so I think I have a bead on it... my ports are small but I make a pretty good income from them... whereas I know of some who have much larger ports than mine and make less money...

So yes in the beginning your numbers shouldn't be your main goal... you have so much other stuff to master like the technical aspects of a good photograph and killer photoshop skills... not to mention market prediction intuition and a true artistic bent you must develop... THEN once you have the business down, THEN worry about income... not until. People think this is such an easy business... cut and dried... that's crazy!

Anyway just my two cents... good luck Precarious and let us know how it progresses!  I always like to hear about the success stories!

« Reply #25 on: May 17, 2008, 18:39 »
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Thanks for the input, and the encouragement!

I don't think I'm going into this thinking that it will be easy, listening to all the chat over the last 3 months has banished any thoughts of it being easy. But I am fairly determined, and I'd like to think I can master the ins and outs of the industry. We shall see I suppose. I'll certainly  be hanging around bugging the heck out of everyone  ;D

 

« Reply #26 on: May 17, 2008, 21:07 »
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I'm in the process of setting goals (this experiment kicks off at the start of June) and I am looking for some input from some more experienced shooters.


So I am wondering if you have even put in an application to Shutterstock or iStock yet? A high number of good photogs get rejected the first time around.  WIth Shutterstock, it is then another 30 days to re-apply. So that puts you out till July. Just wondering if you have considered this scenario since Shutterstock is one of the moneymakers. Or will acceptance be automatic for you?


« Reply #27 on: May 17, 2008, 23:01 »
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Yes I've already jumped all of the hoops. First try with SX and IS, took two trys with SS (to be honest the first set I submitted was horrendous).

So I'm literally ready to run with all 7 sites that I plan to focus on (I have accounts on FP and MP as well, though don't plan to upload to them in the same way as the other 7).


bravajulia

  • I will do it only for money!!
« Reply #28 on: May 18, 2008, 09:25 »
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I start uploading on microstocks in november, only to see what happen in this industry and if it can be part of my full time photographer job. I upload about 15 to 30 pictures each week usually preparing in the early sunday morning, when family are sleeping. You need time to shooting, time to edit, time to apply keywords, time to upload, and time to learn from others people.
 In may I hit 200 photos in some microstock and 100 in istock with various acceptance ratio and little less than 50% in Istock.My sells are about 500$ in SS and 200$ in IS, plus 20$ each one of the others principal sites. You must consider the archive you have and the photos you will shoot tomorrow, and as well as you have some thousand of stock photos in your personal portfolio, the one that will sell more is the one you shoot for this market. I have 10.000 slides to scan, 30.000 digital file  to browse for the stock photos, and some daily job to do. And a wife and two children. You need time to go up but you can. I think the best way to go in this market is to begin and learn all you need to do your best. Ah.... of course, I assume you know what you need to know to be a good  photographer.

« Reply #29 on: May 19, 2008, 10:04 »
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Thanks for the insight! Lots more stuff to keep in mind over the next few weeks.


« Reply #30 on: May 22, 2008, 03:01 »
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Get Adobe Lightroom.  Huge time saver.  Academic pricing is pretty good ($100 at UCLA).  And make sure you keyword and descript in the meta data, so you don't have to redo it at each site.

Want models?  Join Model Mayhem or use Craigslist.

I reiterate that earnings per month will vary widely.  I don't really put up the most marketable stuff, I put up mostly pictures I'd take anyway because I enjoy photography.  So not suprisingly, my close to 2000 images only pulls in about $800 a month (hardly any model released pics).  But, that's $800 I wouldn't be making otherwise if my images just collected dust on my HD.

« Reply #31 on: May 22, 2008, 06:42 »
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Love Lightroom, been using it since December. Already have a ModelMayhem profile and love craigslist.

I'll keep the earnings in mind, I really appreciate all the personal examples from everyone. I want to go into this with eyes wide opened, so-to-speak.

 

DanP68

« Reply #32 on: May 22, 2008, 06:58 »
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Quote
Why don't you set your goal for getting some good quality, concept images accepted, and don't worry about the numbers?

Because the numbers are everything? Just like with any other job. I'm trying to treat this as a business, it's a bit of a mental switch from just being a hobby.



You're both right.  Goal setting is a very important tool in any endeavor, and goals should always be measurable - which means cold, hard numbers.

On the other hand, I agree with Sean to the extent that Precarious has no microstock image history to go on whatsoever.  The first few months, unless you are really good, are generally met with a lot of rejection, and frustration over what doesn't sell.  So to that point, taking the first few months to at least get a feel for where you stand will allow you to set reasonable goals.

I use goal setting extensively, and right now, I don't think you (Precarious) have enough information to set realistic goals.  An overall earnings number after 1 year might be something you can shoot for right away, but you won't know for at least 1-2 months how many images that is going to take, or what type of images you will need to create.

Set a few easy goals first - particularly getting into the big two microstock houses (istock and shutterstock).  Not easy.  But that is where the sales are.  Then work on getting x amount of images online in your first x weeks.  Observe, theorize, and then get about to some real goal setting.

DanP68

« Reply #33 on: May 22, 2008, 07:05 »
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To add to the above, it sounds like you are very serious about making this work.  A full time effort can get you a helluva lot of images online in a year.

I do this on a very part time basis.  I've put roughly 300 images over 9.5 months onto microstock sites, and not surprisingly from the old rules of thumb, I earn roughly $300 per month these days.  I guess I earn $0.90 USD per photo, but that is an estimate as the # of images varies from site to site.  If you are good enough to get into the $1.50 to $2.00 per image camp, you can go a lot farther in a short amount of time.

With more motivation, and more time, no doubt I could have posted 1000-1500 images.  But I am happy with the leisurely pace, and growth.  If you have the motivation to post this many images in the coming months, then more power to you.  But walk before you run.

« Reply #34 on: May 22, 2008, 13:47 »
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Thanks for your comments  :)

After all the comments I've gotten on this I've decided to set some rigid goals just for the sake of experimentation. I'm actually already in at SS and IS so thats one hurdle I don't have to stress about.

I think hanging around and listening to all the discussion here for a few months as well as getting very familiar with all of the stock sites was a good idea on my part before starting to do this seriously. It's also nice to have all the paperwork type junk out of the way before hand. I've got all my accounts made and tax info sent in, tests passed, all that. All I have to do is upload pictures now.

I certainly plan to keep careful track of my goals and report regularly for myself and anyone else who may be interested (from the response to this thread it seems like a few maybe haha). It will be an adventure for me and hopefully useful in general.

bravajulia

  • I will do it only for money!!
« Reply #35 on: May 22, 2008, 23:36 »
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good luck, precarious, Let me know, after some months, if you will reach your goals; I am thinking to close my front of the road studio and put all my efforts on internet market, as you will do in the next time....

DanP68

« Reply #36 on: May 23, 2008, 05:02 »
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That you got into Shutterstock and iStock this fast is a darn good sign.  Get to work then!   ;)


 

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