Episode 371: Passive Income for Photographers – Brandon Wong

Have you considered the ways that you could generate passive income for your photography business?

In episode 371 of the Bokeh Podcast, Brandon Wong of Photo Booth Supply Co describes the benefits of generating passive income, along with the truth behind what qualifies your revenue as “passive.” Listen in as he shares how to determine what services you should eliminate, automate, and delegate while you implement addition streams of revenue.

The Bokeh Podcast is brought to you by Photographer’s Edit: Custom Editing for the Wedding and Portrait Photographer. You can also subscribe to the Bokeh podcast on the Apple podcast app, follow on Spotify, add to your playlist on Stitcher, or listen on Overcast.

Customer Experience: Availability and humanizing (4:58)

“80% of buyers are willing to pay more for a good customer experience in 2020” (4:58)

Brand Position: Affordable photo booths that come with a profitable and proven, turn-key strategy so you can create a business and life you love. (9:36)

Technique for Time: Discipline equals freedom; create a schedule. (12:54)

Venn Diagram: (17:49)
What you’re passionate about.
What your good at.
What people will pay you for.

GSD: (19:57)
Goals
Specifics
Deadlines

Book Recommendations: (24:20)
How to Win Friends and Influence People

Introduction to Passive Income (29:22)

“You’re trading your time for money.”

Create a product that does not require your time: Photobooths, Associates, Presets, etc (37:04)

Eliminate, Automate, and Delegate (38:05)
1. Eliminate – What are the non-profitable services that you offer?
2. Automate – CRMs and Email Marketing
3. Delegate – Use the Venn Diagram to delegate the things that don’t overlap

“I am not a creative, I am a business owner.” (42:59)

Links
photoboothsupplyco.com
instagram.com/photoboothsupplyco
instagram.com/brandon_wong