My Business Model on Photography

At the BA Conference last week here in London, Alex Hendriks talked us through the Business Model Canvas. It is a template to generate new or documenting existing business models. The canvas was initially created by Alex Osterwalder and is available at businessmodelgeneration.com.

The easiest way to learn such a new technique is to do it by yourself (we ski instructors call it “learning by doing”).

So a colleague of mine interviewed me on my hobby photography. What I learned is that my business model is quite “crap”. I have a lot of expenses but no income as I do everything for free. Probably not the point in time to go into self-employment. 😉 But never mind, I love my hobby and it was fun to do the assessment anyway.

businessModelCanvas

Here is what the canvas says:

Customer Segment

I currently just have friends and family there. The value I create with them is friendship and love. 😉

Value Propositions

My good reputation, quick throughput and action photography are my strongest value propositions. I suppose that would be appreciated also by other customers. Just find them first. 😉

Channels

Oh there I’m quite active on Facebook, here in this blog but most of my “free” orders are coming in due to word of mouth.

Customer Relationships

Strongly personal, I suppose.

Revenue Stream

Well, there is the catch. Sometimes I get a new lens from someone or even a video camera from my colleagues in the office. There is no money included – but that makes my life probably much easier so far. 😉

Key Resources

Myself and my wife

Key Activities

Take pictures and post-process, tape movie and cut final clip.

Key Partnership

Printing services out there.

Cost Structure

I have some regular costs for my Smugmug account. The rest is from time to time expenses on a new lens, a tripod or a new hard drive.

 

I suppose that every hobby business would look a bit like this – and I thing that’s just how it should be as it is based on very good relationships, trust and a lot of passion.