When Coronavirus Hits Your Small Business
(NOTE: This post originally ran on NGO STORYTELLING, where I'm a co-editor.)
Every morning I check the news and then review posts in several photographer Facebook groups I’m in. The news is grim and so is the work situation for photographers. Shoots are being canceled or postponed and that leaves many of us wondering, “What do we do next? How will we pay our rent next month or the month after? When will work pick up?” No one knows how long this might go on and that means that we all need to take care of each other however we can – and also make some changes to how we operate our businesses.
Before I go into some of the things that Laura and I are doing to prepare ourselves and our businesses for change, I just want you all to know that I’m seeing your posts and I’m sorry things are so hard and uncertain right now. We really care about you and this industry. Here’s hoping that things improve soon.
Here are a few things that Laura and I are implementing in our businesses right now.
Cutting Back On Expenses
Last month, we shared a new podcast on how we get work. In it, we talked about how there are sometimes lulls in our career where work just isn’t coming in. It looks like we are all in a pretty major lull right now. The first thing to do is sit down and look at all of your expenses. Are there things that you are paying for that you are not using right now? I stop paying for things like Dropbox when I don’t have clients rolling in. Yes, it means that I pay a slightly higher monthly fee but I’m able to cancel it for several months a year and save myself a few dollars each month. These little cuts may help you and get you through until the next job comes in.
Negotiating Payments
Laura called her mortgage company, which has delayed her next payment until May. If you have a mortgage, see if your mortgage company will let you do the same. Many companies are being very flexible during this time. Some banks and credit card companies are able to waive minimum payments due because of the coronavirus situation. This is generally decided monthly on a case by case basis. It might be worth calling your bank to see what your options are.
Leaning on Additional Income Streams
I have one income stream that’s completely outside of photography. It’s very boring administrative work. But at the moment, I’ve never been more grateful for it as it’s keeping me afloat. What skills do you have that you could turn into another income stream? Are there any part-time jobs that you could take on until things level out? Check out sites like Upwork, Fiverr, or Rev for opportunities.
Selling Some Gear
Last week I took an inventory of all of my camera gear and now I have a pile of things that I’m not using regularly that I’m looking to sell. I hear there might be an uptick in online shopping as more people stay home with free time on their hands. It’s time to put on your minimalist mindset and tighten your belt. Are there are some things you can sell to put a bit more income back into your bank account? If you really miss the item later, hopefully, they can be re-purchased in better financial times.
Applying for Full-Time Jobs
Most freelancers are in this business because we love it but there are times where we all just need the financial security of a full-time job. Laura and I post communications jobs around the world on NGO Storytelling each month. We only put full-time positions on the list. You can also check out sites like Idealist, Reliefweb, and Glassdoor. Laura and I have both applied for full-time positions in the last month (though these pre-dated the coronavirus pandemic, we often see if there are any jobs that might interest us). There’s no shame in stepping away from freelancing when the job market just isn’t supporting you.
Applying for Grants/Funding To Help Pay Bills
A lot of photographers are hurting right now and struggling to pay their bills. Here’s a resource list to help freelance artists in tough times.
Researching and Working on Personal Projects
One thing that’s really helping me is working on my personal project. With no work coming in, there have been a few days where I’ve felt pretty low. Luckily, I have some transcribing and editing that needs doing on my personal project. Having something to do each day besides stare at my dwindling bank account really helps! Most of us have ideas of projects that we’d like to work on or projects we never edited because other stuff got in the way. This might be the perfect excuse for you to work on something that you care about without worrying about where it needs to end up.
Taking Care of Yourself
Finally, don’t feel like you HAVE to do anything. Many of us are constantly in go mode and hustling for work. It may be hard to not worry, especially for those of us with tight finances or compromised immune systems, but this enforced break can be an opportunity to take care of ourselves by:
Sleeping more
Exercising more (Laura uses the Sweat app, which features workouts you can do at home with no or minimal equipment; there’s a list of more workout apps in the middle of this blog post)
Cooking more
Reading more for fun (I’m loving Glennon Doyle’s book “Untamed”; Laura is reading N.K. Jemisin’s “The Broken Earth” series and Wangari Maathai’s “The Challenge for Africa”))
Staying in better touch with friends and family (but maintaining social distance!)
If you have other recommendations that might help people out in this time, be sure to leave a comment below or send us a message at hello@ngostorytelling.com. We’re all in this together.
Photo Credit: © Dimitri Karastelev on Unsplash