Here are 3 ways to take your Photo Booth Business to the Next Level.
Get clear, set some bigger goals, and ask yourself what steps will be required to get there.
The same kind of thinking that got us to where we are today, will not be the types of thinking that we will need to get us to where we want to be tomorrow. We really need to upgrade our mindset and start to think bigger when it is time to expand. This is an industry where scaling up, and taking things to the next level is within reach for most of us. A lot of what is stopping many is fear of expanding, investing in new booths, and leveraging employees to take us there. The first step is to realize that this sort of thinking is no longer acceptable. Ask yourself:
“If someone put a gun to my head, and demanded that I double my business in the next 6 months or they would kill me, what steps would I take?”
Does that sound extreme? Maybe it is, but the point is to create a sense of urgency. Risk is a part of being an entrepreneur. We always miss 100% of the shots that we don’t take. What is it that is holding you back? Do what you are afraid of.
Don’t let things stagnate, any decision is better than no decision. Decide, and commit.
Take a look at your competition.
Ask yourself, what investments could I make in my business to really 1-up them? What is it that they are not doing?
What are some simple ways you can step things up to give your brand a better package and deliver more value to the customer than anyone else in your price range? This is the secret to creating a brand that dominates. If you want to learn how to really take your photo booth branding to the next level, be sure to read our article about it here.
Learn more about branding your photo booth business here. How to Brand Your Photo Booth Business The Right Way
Step up the amount of effort you have been putting into marketing.
How much time have you been spending on your marketing game? There are a few different areas of marketing to take a look at.
Learning – How much time have you spent actually refining your skills here and seeing what methods you might be missing out on. It is good to look at other photo booth businesses and see what they are doing, but it is also good to see what other industries are doing. What is working for them? Who are the people on the cutting edge of today’s marketing? Learn from them.
Trying new strategies. Are you networking? Ok so you have tried Facebook and Google ads, but have you tried putting more effort into Instagram? What about networking, and physically making cold calls. See that there are events on Facebook events page in your area? Maybe you could contact them. Get creative, and test. Be the innovator that crushes it with a new technique and you will gain most of the rewards.
Measure to see what is working already, and double down.
It is important to check the numbers from time to time. If you are not doing this on a weekly, or a monthly basis at least, the time to begin is now. Know how much money you are making per dollar, or per hour of time you are investing.
What activities are giving you the highest ROI (return on investment)? Which ones are giving you the lowest?
If you can eliminate as many low ROI activities as possible, and shift those time and money resources on the high ROI activities you will see a quick gain in profits simply by tuning your business for efficiency.
We recommend doing a time tracking process using a phone app, or spreadsheet on your computer every night. Tally up one of your weeks and it will give you a clear image of where your time and money is going.
Did this article help you? Sign up for more right in your inbox below!