This morning, I spent a considerable amount of time evaluating my financial situation and forecasting expenses over the next few months. You see, I’ve been working on a comprehensive business plan and this has forced me to evaluate my strengths as a photographer and, more importantly, identify areas in which I could improve or enumerate other services I’d like to offer. Inevitably, these types of decisions may result in additional expenses. I’m not suggesting buying more gear is a solution. It isn’t. But expenses are a part of business, especially when expanding the business to offer new services. For example, one of the areas in which I’d like to do more work is video. I have a Canon 5D Mark II and a decent Olympus audio recorder. So instead of just wandering aimlessly through the instruction manual, I was looking for some decent video training online. Based on the recommendation of a fellow photographer, I came across Drew Gardner’s “Stills in Motion” DVDs. Yes, I could probably find multiple free lessons online but sometimes I think a comprehensive single package is worth the money. But this got me thinking… Is $97 really worth it given some of the other things I’d like to acquire over the next few months? Haven’t I been wanting to get a wide-angle lens? Or another studio light? Or maybe I could spend the money on a marketing campaign? I’m not going to get into the specifics of creating separate budgets for gear, marketing, and training because, quite simply, I’m not there yet. So, for the time being, it all comes out of the cash (or credit) I have on hand.
Shiny Object Syndrome is the desire many of us feel when we see something new or really cool that we weren’t aware of before and, now, we simply must have it. I don’t know of many professions that suffer from Shiny Object Syndrome more than photographers. There’s always a new camera or a new lens that we want. Given the cost of many of these items, we’re not likely to ever get to the point where we have everything we could possibly want. There’s always something cool we can throw our money at, right? How many times have you spent money on something (usually as a result of Spontaneous Shiny Object Syndrome) only to remember shortly afterward that there was something else you’ve been wanting to get as well that may have been more useful or more important? It may have been a workshop you’ve wanted to sign up for or it may have been a new lens that you were saving for. But in that moment of vulnerability, you forgot all about what you really needed and threw some cash at something that, while cool, isn’t as important. I know this has happened to me quite a few times. That’s when I started keeping a Wish List.
In my opinion, anything over $100 or $200 should be eligible for the Wish List. Established photographers with larger budgets may want to adjust this but, for most of us, I think $100-200 is a good number to start with. This will allow us to pick up small things that we may want from day to day but will keep us from impulsively buying a new iPad even though we don’t really need one. This shouldn’t just be new gear you want, though that might be the most common Wish List item. It should include anything you want to spend money on. It could be workshops and training, membership fees to professional organizations, or even money you might spend on a personal project.
When you come across something that activates your Shiny Object Syndrome, put it on the list, along with the cost and maybe a URL where you can get it. Then look at that item alongside the list of things that are already there and prioritize appropriately. Then, most importantly, sleep on it! Give yourself at least one day between adding it to the list and actually spending money on it. If the item is fairly expensive, extend this to two days, a week, or as long as you can. It’s remarkable how things tend to lose their shine after a day or two when they’re placed in a list alongside other things you’ve been wanting as well. After a few days, you may discover that the item should really be at the bottom of the list rather than the top. Or, as I’m almost ashamed to admit, you find out that the item really shouldn’t be on the list at all!
It’s also a good idea to keep the list on you in some way. This could be a small piece of paper in your wallet or something kept on your phone. Remember, the very nature of Shiny Object Syndrome is that it can strike without warning! You need to have your list on you or it may end up being useless. Personally, I use Evernote to keep my Wish List with me on my iPhone. That way when I come across something I think I need, I can simply add it to the list (and even take a photo of it) no matter where I am. Then, later on, I can review it and re-order the list on my computer when I get home.
Of course, you’ll want to review the list any time Shiny Object Syndrome sneaks up on you and you feel compelled to buy something but I would also advise taking the time to re-evaluate the list at least once every month. Over time, your priorities and needs will change and your Wish List should reflect that. The “cool new thing” inevitably isn’t going to be as “cool” or “new” one month from now. Or, your photography business may change and you may find yourself not needing that new macro lens as much as you thought. On the flip side, if something has managed to retain a top spot on your Wish List over the course of a month or two, chances are, it really may be something you could really use!
Hopefully, you’ll find that keeping a thoroughly vetted and reviewed Wish List will keep you from making stupid, impulse purchases and will really focus your expenses when you actually do have a few extra bucks to throw around.
By the way, I ended up buying the “Stills in Motion” training DVDs this morning… Hey! It didn’t hit my $100 threshold, right?
Shawn Duffy is a freelance commercial photographer and photojournalist based in the Washington, DC Metro area. Originally from Pittsburgh, PA, he is a self-taught photographer who has decided to merge his passion for photography with his intense interest in the world around him. From the bustling streets of Bangalore, India, to the refugee camps of occupied Palestine, Shawn strives to create images and tell stories that compel others to act.
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shawn Reply:
March 31st, 2010 at 12:50
Thanks Dianne! Even though I’ve been using a Wish List for a while, I still struggle with this all the time. Good luck!
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