Professional photographers bring to life – forever – weddings, business events, funerals, birthdays and other times of our lives. For the Small Business Summit (in its sixth year in 2011) we use Jeffrey Holmes Photography.
Like the travel agent business of 10 years ago, which eventually caused the livelihoods of many independent travel agents to change, the photography business, thanks to the Internet is also struggling.
The New York times writes Mr. Eich and Ms. Pruitt illustrate the huge shake-up in photography during the last decade. Amateurs, happy to accept small checks for snapshots of children and sunsets, have increasing opportunities to make money on photos but are underpricing professional photographers and leaving them with limited career options. Professionals are also being hurt because magazines and newspapers are cutting pages or shutting altogether.
The Internet combined with cheaper and better quality digital cameras make it much easier for anyone with a knack for taking pictures to host and sell photos to others.
As I’ve written about before, but hopefully this will serve as a reminder, the Internet enables your competition, who used to be separated by geography, or had a barrier to entry of needing land, office space, supplies, staffing or whatever – to have everything they need to be cheaper and faster than ever before.
If you are not providing intense value to your customers and always staying a step ahead of low cost (Internet based) innovations your business is going to be threatened.
Why do you think newspapers and TV stations are threatened? Thanks to Youtube, Hulu, and news.google.com – the hold on distribution is quite fluid.
Let’s look at the local law firm. Sure there is a lot of expertise required. However, for some things, is it possible that a law firm in another state could outsource work – for cheaper than you do it – and in some way service your customer’s needs for cheaper and faster than you are doing it now?