Author: Vince Collura
I am curious as to how the PFRE community meters their professional progress. There’s no wrong answer here, and with photographers at various stages of their business, I can anticipate a great mix of answers. The question really boils down to: What can you look at on a monthly basis that tells you that you’re progressing or growing?
To get the conversation started, I will look at a few metrics that I have come across in working with photographers. These metrics are purely measuring earnings vs labor. There’s way more to talk about, but I will save that for another post:
Earnings Per Home: Depending on how you keep track of your accounting, this is an easy one to break down: Take earnings in a given month and divide by the number of unique addresses. This metric tends to work well if you are looking at a variable product base: smaller and larger packages, add-ons like drone, etc.
Dollars Per Click: The most granular metric I have seen, which has a good basis because ultimately, shutters tend to have a lifespan, so in theory, this model allows you to tie some of your maintenance costs into your earnings. In this case, one is dividing income by the number of frames captured.
Hourly: One of the easiest metrics to think about which tends to be great because it helps you compare easily to other professions and opportunities.
Total Income: High level; what am I making on a monthly, weekly, or daily basis? This metric works great in the early days of your business--or if you are full time in real estate and don't have other kinds of work that compete against the work financially.
What measurements are you taking to make sure that you are on the right path to where you want to be, professionally?