Business Management Essentials

Keep sight of your goals and reach them with a business plan Today, the environment and climate of the business world is changing at such a rapid pace that it is necessary to more forward swiftly in order to stay ahead. This is why it is necessary in business management to set out a plan … Continue reading “Business Management Essentials”

Keep sight of your goals and reach them with a business plan

Today, the environment and climate of the business world is changing at such a rapid pace that it is necessary to more forward swiftly in order to stay ahead. This is why it is necessary in business management to set out a plan that demonstrates the direction your company is headed in for a set time period. This could be 90 days, 6 months or however you choose to lay it out. However, in business management it’s often better to prepare a plan that spans a shorter period of time, in order to keep workers and departments headed in one common direction and avoid confusion. This makes things easier on managers as well.

Good business supervision means setting out a plan that clearly identifies how fast you want your company to grow in a given time period, your desired rate of profitability for the company, and where you want to be in the industry marketplace as far as position. Setting out a plan that covers all areas such as improving upon profits, increasing market share, forming strategic alliances with others and improving the skills of your workers is necessary in effective business management.

By creating a short-term business plan, management staff can easily keep objectives in mind and know in what direction all areas of business are going at any given time so that changes can be made if necessary.

Directing employees in business management

Your employees are the foundation of your business; they perform most of the tasks necessary to keep your operation running smoothly. In smart business management, you want workers who are motivated, dedicated and goal-oriented. The best way to accomplish this is through effective leadership.

Great leaders are an essential part of exceptional business expertise. Through planning, action, organization, directing, motivating and monitoring, a leader is capable of getting workers “fired up” to do their very best, and to be as excited about reaching the goal or completing the task at hand as those in management are. In order to get the best performance from employees, it is necessary that they feel part of the team.

These are two areas of business management that are absolutely essential to the success and growth of your company. While you may be the general manager or CEO of the company, it takes all of the smaller parts to make up the whole of success. Thorough and effective business management will ensure that your company or organization thrives now and for years to come.

MBA Business Management Program

What is a MBA Business Management Program?

Today, more and more graduates of business courses are considering the benefits of a MBA Business Management Program. Not only it is a sought-after degree, it also opens you opportunities that you thought impossible to reach.

A MBA Business Management Program is sometimes referred to as “General Business Management MBA Program”. For the obvious reason that within the course of this program, you’ll be learning business in general. There are management programs that are specific in one area or field. For instance, Health Care Management-graduates of this program will normally render their services in hospitals and in other health care facilities and organizations. The same concept applies to graduates of Hospitality Management who are most likely going to land on hotels, restaurants or maybe hospitals too. Your MBA Business Management Program, though, will not just widen your areas of future opportunities; it will also give you the necessary training for all managerial types.

If you’re thinking of enrolling under a MBA Business Management Program, it may help if you already have these basic skills-strong communication and critical thinking skills; ability to be flexible and versatile during plan modifications and even when interacting with different people; ability to understand complex materials and weigh variables to come up with a sound decision; and lastly, the inner drive to deliver and offer services at the best way possible, ensuring that at the end, client satisfaction is met without compromising profitability rate and over-all business.

Your MBA program will be focused on providing you valuable resources and adequate training regarding the arising businesses of today. Unlike your bachelor degree, your MBA will mainly delve into practical skills and expose you to the actual world of business.

With a MBA BM Program, expect to learn the following:

• Economics- focuses on economic analysis, concepts of scarce resources, the subject of supply and demand and maximizing profit and market structure.

• Business Law- focuses on topics that concerns the legal system as it applies to the business world.

• Human Capital Management- focuses on personnel management, job analysis, career development of your employees, performance appraisal and other managerial qualities applied under the human resources department.

• Business Ethics- focuses on ethical dilemmas and integrating ethical practices during decision-making.

• Accounting- focuses on financial statements, cost allocation, cost behavior and budget costs.

The above list of major courses is the typical focus of your master’s business management program. On top of these, your leadership skill is also another thing that you’ll be enhancing during your master’s education. In business, being a good leader can bring you at the top of the industry pyramid. Not only will it open you a variety of job options to choose from, it will also be a good asset if you want to keep your job, get promoted or stay at the top.

The Ultimate Photography Business Management Software?

As a professional photographer, you’re also a small business owner, I know that administration can take up a lot more time than I like.

I’m talking about:

  • scheduling appointments,
  • processing payments,
  • running reports,
  • managing clients,
  • managing staff,
  • dealing with supplies and inventory,
  • marketing, and
  • all the other “background” tasks that keep my business going.

That’s why in recent years I’ve become very interested in embracing technology to automate and centralize as much of these “administrative” activities as possible.

As a photography business owner, you no doubt love doing photography – but in order to do what you love, you must administer your business and get new business through marketing.

For example, how much time do you spend managing your appointment schedule or dealing with payments by cheque or cash, or sending out appointment reminders to minimize no-shows?

These tasks are necessary, but do take up a lot of time.

Of course no software will replace you and your vision, but you can use software to automate some processes to free up your administrative time. The key is getting the right photography business management software that won’t cost you a fortune.

Unless you shoot exclusively in a studio, you’re likely off-site regularly photographing clients. If you spend a lot of time off-site, it’s tough to administer your business – unless you’re able to access your photography business management software.

How You Can Bring Your Office Anywhere With You

The easiest way to bring your office with you is with a mobile computer and using cloud-computing software. The mobile computer is simple – an iPad or laptop will do. It’s the cloud computing software that you need.

What is Cloud Computing Software?

It’s software you can access entirely on the Internet. It’s also called web-based software and it’s growing dramatically in popularity. The days of desk-top software that requires installation on a local computer are disappearing.

Have you ever been on a photo shoot and get a call during down-time for an appointment? If you don’t have your schedule available, you have to call them back – possibly losing the booking. If you have complete access to an online schedule, you can book the appointment right away.

Automate Photography Bookings

If you offer set photography packages, you might want to consider offering clients the ability to book their own time on an online schedule they can access with an Internet connection. You could create a web page explaining your packages and the time required.

Put the control in your clients’ hands and they’ll be delighted they can book a photo shoot without minimal hassle. You’re delighted because you booked a client without getting involved.

Reduce No-Shows

One of the worst money-losers in any business that books appointments – such as a photography business are no-shows. Yet, you’re probably too busy to sit at a phone each day making reminder calls.

What if you could automate reminders? This is ideal, and with top-of-the-line photography business management software this is not a problem.

How it works is your online scheduling software is linked to a powerful e-mail delivery software application that automatically sends out e-mail and text messaging reminders to clients at a time before the appointment you specify. Even if you prevent 2 no-shows in a month, the software will pay for itself.

Running a Photography Business is More than Managing a Schedule

  • Do you hire independent contractors or have staff photographers?
  • Do you offer payment by credit card?
  • Do you have any time left to market to your existing and past clients?

You can certainly get individual photography business software applications to manage each of these 3 types of administrative activities. You can get payroll and staff management software.

It’s not hard to find credit card processors to integrate into your system. And of course there is no shortage of marketing software applications available – especially e-mail and text messaging software services.

But, if you could centralize all these types of administrative activities in one software application, you’ll not only save time learning how to use it all, you’ll save time and hassle integrating it all together… because it already is integrated.

What I’m talking about here is ramping up your administrative efficiency by using an all-in-one photography business software that offers all the systems and processes you need to manage your photography business.

I’m a huge fan of all-in-one software packages because I need only learn one type of software. How much software have you bought only to never really use it fully because you didn’t take the time to learn it.

I’ve got all kinds of software on my computer just sitting there. The software I do use extensively is that which is central to running my business and that basically manages most of my administrative activities.

Here’s the Real Value of All-In-One Photography Business Software

The true asset of your photography business is your database of clients – past and present. Those clients not only provide you work, but refer you to their friends, family, and acquaintances. Your database is your gold and so you must harness that database in order to build your business.

If you have different software applications managing individual tasks, you likely have a mish-mash of contact lists and client profiles scattered in various files and software applications.

When you centralize your entire photography business management software, you’re able to centralize your client database – and then leverage that database in all your business management activities.

An Example:

I’m a huge fan of communicating with my database of clients via e-mail. If you use different software applications for different activities, then when you book an appointment, you must load that contact into each database – perhaps in the scheduling database and then your e-mail marketing database. You end up managing multiple client contact lists.

It’s far more effective and efficient that when you book a client into your schedule, that client is automatically logged into a central database with all their information, from which you can then launch e-mail messages, text messages, and even then generate business reports informing you about how a particular client is contributing to your business.

The key is moving toward a one-step process. That step being once you have a new client scheduling, that client is now part of your entire photography business software platform from which you can completely manage that client.

The same goes for centralizing your independent contractor / employee details into the same system. You can then generate payroll reports showing your payouts to each photographer on your payroll by client.

Take Your Photography Business Software to the Next Level

Do you offer pricing packages? Probably. Is it a hassle managing all those packages? A centralized, all-in-one business management software specifically for photographers lets you create pricing packages that integrates with your credit card processing and your client management.

Not only this, but the right software will also make it easy for you to create gift cards, track your client’s referrals (then send out thank you messages), pricing packages, discounts, etc. – all in an effort to increase your sales and offer your clients more choice.

What About Selling Products on Your Website?

As a professional photographer, you can get great deals on photo-related products and services. You can create another profit center on your website by selling products and services. Because you know the business so well, you can offer only the best to your clients.

Moreover, because you’re a professional, you’ll have instant credibility and trust and could create a profitable e-commerce store that earns revenue with minimal effort and time.

In a nutshell, the best photography business software is web-based and offers the following centralized functions:

  • Scheduling – online, centralized, and self-bookings;
  • Credit card processing;
  • pricing packages and gift cards;
  • E-commerce and online store opportunity;
  • Payroll and staff management;
  • E-mail and text messaging capability – automated reminders and marketing channels;
  • Total client data management totally centralized;
  • Client referral tracking (this alone should be harnessed to the maximum);
  • Financial and performance reporting that uses all the centralized data for comprehensive, up-to-date information.