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Author Topic: Tips on how to FAIL in this business  (Read 8053 times)

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Dook

« Reply #25 on: June 27, 2016, 16:08 »
+1
Photographers approaching me with following questions:
- What camera should I buy to do microstock?
- Why do you invest money in your photo sessions, I can find models(objects) for free?
- Why do you send your best work to microstock when revenue is 0.25$?
- Why did you quit your day job, when it can be done in spare time?
etc


dbvirago

« Reply #26 on: June 27, 2016, 16:09 »
+1
The business that has looked like this for the last 10 years


« Reply #27 on: June 27, 2016, 17:07 »
+6
Buy the latest Hasselblad and lenses for $15k and party like there's no tomorrow when you make a 25c sale.

« Reply #28 on: June 27, 2016, 17:24 »
+7
business ???? what business................

 ;D

i remember reading this here many years ago during the time of Mitz, Lisafx,etc..
some guy wrote, "i was shooting the opening of a mosque, and a man in traditonal clothing
came out of the mosque. asked if i do this for a living. i said yes. for how much?
welllll, i make maybe 25 cts per photo download.
the muslim man looked at me sadly, touched me on my shoulder and said,"
friend, brother, maybe you come in and pray Allah to teach you better business sense!"

i still remember that. and i am sure many of us wished we had met that pious
muslim neighbour.

SpaceStockFootage

  • Space, Sci-Fi and Astronomy Related Stock Footage

« Reply #29 on: June 27, 2016, 20:37 »
+3
Would he advise the CEO of Pepsi to come in and pray for better business sense, due to making less than 25 cents net profit per can?

« Reply #30 on: June 27, 2016, 21:15 »
0
Would he advise the CEO of Pepsi to come in and pray for better business sense, due to making less than 25 cents net profit per can?

LOL, i don't think any CEO will give a r@ts a$$ if Pepsi even makes 10 cts net ... no CEO of any company is losing any sleep so long as his bank account is deposited each month with $$$$$$

i highly doubt any CEO is looking to be a microstock photographer. .. do you??? 8)

SpaceStockFootage

  • Space, Sci-Fi and Astronomy Related Stock Footage

« Reply #31 on: June 27, 2016, 22:07 »
+4
Absolutely. My point was that it's not really possible for somebody to make a judgement on a stranger's level of business acumen, purely based on their per sale revenue. Or profit. There are plenty of companies, and probably individuals, who may have very low cost sales, but very high volume. It doesn't necessarily mean they need to pray for better business sense!

« Reply #32 on: June 28, 2016, 01:17 »
+4
Write DT blog posts to celebrate after every 3.5 sales and 6.76 uploads instead of shooting more.

« Reply #33 on: June 28, 2016, 05:26 »
+2
taking rejections personally, thinking they will teach you anything, arguing about them in forums, keeping track of them, trying to resubmit and disputing rejections with the agency.

ShadySue

« Reply #34 on: June 28, 2016, 05:58 »
+2
My highest-selling file was rejected on first submission. Slight tweak and good to go.
« Last Edit: June 28, 2016, 11:58 by ShadySue »

« Reply #35 on: June 28, 2016, 08:44 »
0
Absolutely. My point was that it's not really possible for somebody to make a judgement on a stranger's level of business acumen, purely based on their per sale revenue. Or profit. There are plenty of companies, and probably individuals, who may have very low cost sales, but very high volume. It doesn't necessarily mean they need to pray for better business sense!

ah, good point.
but pepsi should not be used as an example... or any one of those rust-removers definitely not meant for human consumption

« Reply #36 on: June 28, 2016, 09:56 »
+2
If you do not produce a higher number of pictures than you did before.
If your pictures are not better than before.
Means, the wall.

Mixrostock is in a state of super competition, you are not competing among the tribesmen in your village ( like to see WHO can run fastest to the carcass of the cow), but against an ever rising part of the global population and an ever rising impact of digital technology.
Means the wall exponentially. You, no matter WHO you are, or how good you are (Yuri), you can only take part for a period, then you are swallowed up by the beast.
So there is only so much you can do, even if you are very good.

But you can take that hard earned knowledge, and make it profitable outside of the area of supercompetition.
Like... you as a (former) microstocker, will have a competitive edge in the local web designing environment.
« Last Edit: June 28, 2016, 09:58 by JPSDK »

« Reply #37 on: June 29, 2016, 03:24 »
+1
You income (or productivity or happiness or whatever good) is inversely proportional to the time that you spent in this forum.  ;)

« Reply #38 on: July 01, 2016, 04:02 »
+4
Not being willing to HEAVILY invest in your photoshoots is a sure way to never make real money.

A few years back I got to watch a top tier microstocker do a photoshoot. It was a pharmacy photoshoot. He actually bought a label printer and made fake labels for over 1000 bottles with made up medicine names so he could avoid copyright problems in the images. Also there were tens of thousands of fake pill capsules he bought off ebay filling the bottles, as well as shelves to hold it all up and of course models.

This was the 3rd unique photoshoot he did that day.

He shoots 5 days a week, all editing, key wording and uploading is outsourced. He even has people hired who find locations, models and schedule everything so that every single workday is filled.

It really made me realize that technical skill with a camera are only part of the equation. There is only so much you can do.  Being able to properly invest, scale up, and automate your work is the only way to really break this wall.

I probably can't hope to match this guy's performance, but it really did inspire me to take a little more risk and think bigger then doing an apple on a white background, or take crappy travel photos of churches, swans and fountains. 


« Reply #39 on: July 03, 2016, 07:54 »
+1
Spam your image titles!!

« Reply #40 on: July 03, 2016, 08:38 »
+6
"A few years back I got to watch a top tier microstocker do a photoshoot. It was a pharmacy photoshoot. He actually bought a label printer and made fake labels for over 1000 bottles with made up medicine names so he could avoid copyright problems in the images. Also there were tens of thousands of fake pill capsules he bought off ebay filling the bottles, as well as shelves to hold it all up and of course models. "

Been there, done that. 

Anyone want to buy some empty pill bottles?

« Reply #41 on: July 03, 2016, 09:29 »
+5
He shoots 5 days a week, all editing, key wording and uploading is outsourced. He even has people hired who find locations, models and schedule everything so that every single workday is filled.

For some people this is the way to go, but I would never want to work this way with stock. The pressure to perform would just turn it into another job and take out the joy of filming/photography.

With just 5 employees anything below $25,000 per month means losing money.

I like the idea of about zero fixed costs and my own time is what I lose.

« Reply #42 on: July 03, 2016, 10:23 »
+5
He shoots 5 days a week, all editing, key wording and uploading is outsourced. He even has people hired who find locations, models and schedule everything so that every single workday is filled.

For some people this is the way to go, but I would never want to work this way with stock. The pressure to perform would just turn it into another job and take out the joy of filming/photography.

With just 5 employees anything below $25,000 per month means losing money.




I like the idea of about zero fixed costs and my own time is what I lose.


That's what I reckon. the idea of employees and so on is all well and  good, but it's easy to lose sight of the goal. Which is profit.


The beauty of this business to me is that I can (and do) make money without having to deal with people, or having big overheads. I know I don't make as much as some, but it suits me the way it works for me.

« Reply #43 on: July 03, 2016, 13:37 »
+1
He shoots 5 days a week, all editing, key wording and uploading is outsourced. He even has people hired who find locations, models and schedule everything so that every single workday is filled.

For some people this is the way to go, but I would never want to work this way with stock. The pressure to perform would just turn it into another job and take out the joy of filming/photography.

With just 5 employees anything below $25,000 per month means losing money.




I like the idea of about zero fixed costs and my own time is what I lose.


That's what I reckon. the idea of employees and so on is all well and  good, but it's easy to lose sight of the goal. Which is profit.


The beauty of this business to me is that I can (and do) make money without having to deal with people, or having big overheads. I know I don't make as much as some, but it suits me the way it works for me.

i would say that it all depends on your earnings. eg. as sean pointed out, "been there".
but sean was already earning big money, so his investment on going like a movie production house for props,etc... is worth the risk after seeing his actual returns.
it's like all thriving business, really.  you don't go crazy and hit the ceiling with a budget that
will clean you out in your first 5 years of opening a business, esp even before you know
if there is indeed going to be a chance of breaking even.

then once you see a thriving business, you can begin to speculate a bit as your borrowing
power enables you.

but lastly, unless you are someone who came in early in the game, i would not go with
betting on a dark horse in microstock these days.
i am sure most big earners would tell you they would not expect to make it this big
if they were a newbie , say, in the past 5 years...
ie. after IS stops becoming the viable alternative to shutterstock.

« Reply #44 on: July 03, 2016, 15:55 »
+1
"A few years back I got to watch a top tier microstocker do a photoshoot. It was a pharmacy photoshoot. He actually bought a label printer and made fake labels for over 1000 bottles with made up medicine names so he could avoid copyright problems in the images. Also there were tens of thousands of fake pill capsules he bought off ebay filling the bottles, as well as shelves to hold it all up and of course models. "

Been there, done that. 

Anyone want to buy some empty pill bottles?
This made me laugh. I just spent 3 hours in the basement emptying out boxes of props and tossing them. Two of which were filled with various pills, syringes, IV bags.... Anyone need a good stethoscope?

« Reply #45 on: July 03, 2016, 18:06 »
+3
Not being willing to HEAVILY invest in your photoshoots is a sure way to never make real money.

A few years back I got to watch a top tier microstocker do a photoshoot. It was a pharmacy photoshoot. He actually bought a label printer and made fake labels for over 1000 bottles with made up medicine names so he could avoid copyright problems in the images. Also there were tens of thousands of fake pill capsules he bought off ebay filling the bottles, as well as shelves to hold it all up and of course models.

This was the 3rd unique photoshoot he did that day.

He shoots 5 days a week, all editing, key wording and uploading is outsourced. He even has people hired who find locations, models and schedule everything so that every single workday is filled.

It really made me realize that technical skill with a camera are only part of the equation. There is only so much you can do.  Being able to properly invest, scale up, and automate your work is the only way to really break this wall.

I probably can't hope to match this guy's performance, but it really did inspire me to take a little more risk and think bigger then doing an apple on a white background, or take crappy travel photos of churches, swans and fountains.

I bet this guy has hit the wall by now or will shortly.  Also, his profits may be the same or less than someone that runs a lean, smart operation and has only himself to pay.

« Reply #46 on: July 04, 2016, 02:19 »
+1
Hit the wall.

« Reply #47 on: July 05, 2016, 13:40 »
+3
Not being willing to HEAVILY invest in your photoshoots is a sure way to never make real money.

A few years back I got to watch a top tier microstocker do a photoshoot. It was a pharmacy photoshoot. He actually bought a label printer and made fake labels for over 1000 bottles with made up medicine names so he could avoid copyright problems in the images. Also there were tens of thousands of fake pill capsules he bought off ebay filling the bottles, as well as shelves to hold it all up and of course models.

This was the 3rd unique photoshoot he did that day.

He shoots 5 days a week, all editing, key wording and uploading is outsourced. He even has people hired who find locations, models and schedule everything so that every single workday is filled.

It really made me realize that technical skill with a camera are only part of the equation. There is only so much you can do.  Being able to properly invest, scale up, and automate your work is the only way to really break this wall.

I probably can't hope to match this guy's performance, but it really did inspire me to take a little more risk and think bigger then doing an apple on a white background, or take crappy travel photos of churches, swans and fountains.
I would like to see his or her profit and loss account to know whether this was successful in the long run . In today's climate this would be a very big gamble.


 

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