In this, the 3rd part of my series on becoming a professional photographer I want to concentrate on mindset. This is particularly relevant if you’re in full time employment.
Step 3: Mindset
Giving up a full time job to go self employed requires a huge change in mindset.
Going self employed is very simple. You just have to contact HMRC and they’ll send you your UTR or Unique Tax Reference, set yourself up for NI contributions and you’re good to go.*I did it all through their website. It was fast and painless.
[* this is not meant to represent advice – always seek guidance from a professional]
Going self employed mentally once you’ve been in full time employment is a whole different matter.
Your salary is like crack cocaine
When you’re in full time employment you become accustomed to a regular injection of cash into your bank account. It’s like a monthly fix and it’s highly addictive. One or two months in and you’re completely hooked. Addicted.
It makes the decision to strike out on your own all that much harder to do.
It requires a change of mindset. A huge change of mindset, especially about money.
When you’re self employed and running your own business, you’re not going to have that cash injection at first. It’s something you need to build up as your business grows. In the early months you’ll find your income will fluctuate. Sometimes you’ll have good months and sometimes bad. The trick is to budget to smooth out the peaks and troughs, to manage your cash flow and keep yourself solvent.
To succeed as a small business owner you need a very different mindset to when you were employed.
Addiction to cash is the biggest barrier of them all
In the previous article I wrote about removing your barriers. Your addiction to cash is by far the biggest barrier preventing you from making it happen. If someone was to take your salary away from you, forever, how would you feel?
I’ve spoken to many people on my own personal journey. Many of whom would love to do what I’ve done but they always have an excuse or two. When I dig deeper it mostly comes down to fear of where the money will come from. They’ve been conditioned to expect a drip feed of cash injected into their bank account ever month. They’re comfortable in the knowledge the money will be there, every month without fail.
Running your own business is entirely different. Certainly in the early stages until you’ve built a client base and start to receive that drip drip drip of cash. Budgeting is key. You’ll likely have good months and bad months. Budgeting and discipline will help smooth the peaks and troughs.
To feel comfortable with this, you need to change your mindset, the way you think about cash.
What has this got to do with photography?
Not a single thing. There is a whole lot more to being a professional photographer than technique or equipment or making great pictures. If you wish to earn your living from your photography you’ll need to change your mindset about money.
Unless you’re completely comfortable with losing that regular income, you’ll struggle to get to the starting blocks. You’ll be destined to just have a dream, a dream of becoming a professional photographer.
