I have always wanted to make photography my career. I have a degree in studio art with an emphasis in photography. My sister and I have a photography business, but it is going NOWHERE because we do not have time to market, promote, meet people, etc. because we both have full time jobs. I feel pretty confident that I can make the business work. But not while I am working at my full time job. I need to immerse myself in my business to make it work. I have a small amount of money in an IRA that I could take out and use for advertising, business cards, website design and publishing, a small amount of equipment or a few wedding shows. BUT I HAVE TO QUIT MY CURRENT JOB TO DO SO. Is this a wise move?I know Wedding photography is competitive, but I believe that our niche is that we are VERY inexpensive. Please advise!
      Answer1:No dont quit your job till you earn enough living money with a photography career, do it part time. About promotion, building it. Dont do things to fast.Maybe this is a good program for you:http://www.moneymakinglibrary.net/mml/ca...Ive wrote a review about it.
      Answer2:You are going into the market based on cost (very inexpensive) which would suggest that your margins would be very low and it will be difficult to make a profit, and easy for someone else to come in and undercut you. In the world of photography, particularly wedding photography, people are prepared to pay a higher premium for what is expected to be a once in a lifetime experience. This would suggest that your business model would need a re-think before you launch your business full time. That said, you can produce very inexpensive and minimal time-input websites which will operate remotely while still retaining your current jobs.Hope this helps.
      Answer3:I really dont feel comfortable answering if you should quit your job or not. I am certainly not a financial planner, but I am not sure taking money from your IRA is the answer. I have a book you might want to read. Its called Consulting on the side by Mary F. Cook. Its about how to start a consulting business while still staying employed. I am sure you can apply it to your business. Thats just my two cents worth!Deborah
      Answer4:There is a site that has a bunch of information on business given from industry experts and other successful entrepreneurs. If they dont have it they will try to help you find the information you are looking for. We use it at my college it wont let me put a link but search: Business Empire Magazine