The lovely and exquisite Laura Novak has agreed to share some words of wisdom with the TRA peeps.  Isn’t she awesome?

Mistakes you’ve made in business?

I think the biggest mistake, and I’m sure its one we all can relate to is times where I had a gut instinct or feeling about someone or something and didn’t follow it.  Maybe you want to give someone the benefit of the doubt, or you think something might work or not work but you are doubting yourself for some reason.  I think its always important to act really quickly on those instincts, even if you are afraid of how things may unfold.  Knowing when to cut off something that isn’t working – anything ranging from a vendor who can’t keep quality promises to a client who simply is not a good fit – is really important.

Best moves you’ve made for your business?

In the last several years I have gone from being very interested in what is happening in the photography industry – from looking at photographer blogs and worrying about what other photographers are up to, to becoming very internally focused.  I spend a lot of time mentoring my staff, researching the ways in which other industries look at marketing and retail, and making sure that my employees are being treated with generosity.  I look at design blogs and think about what we can do different, better, stronger to differentiate ourselves and in turn provide long term job security to everyone working in the studio.  I have made a conscious decision to not pursue the speaking circuit and instead focus on making sure the business is busy and profitable.

I’m glad I have made this shift, because we are busier than ever despite the tough economy.

Don’t assume that because you are a great artist, that is an excuse for being a bad business person.  You can be both a talented creative and a good business person, it’s totally possible.

How has the economy affected the photography world?

As the shakeup from the recession begins to reverse, I think that the photography industry will be challenged with the long-term aftermath of an extremely savvy consumer who is looking for value at every single price range.  Our challenge, is to provide that value and by value I don’t mean “cheap,” I mean that your customer walks away feeling like they received a great product for what they paid. 

I see a crappy economy similar to what happens to wedding photographers when you get a day with tough weather, a strong photographer will reinvent his or herself and use creativity to find unique locations and lighting.  A weak photographer will produce mediocre photos and call it a day.  I see the situation we are in right now as the same way – for me, I have always been the type to come up with the best ideas when I’m challenged.  Photographers who can’t figure out how to differentiate will end up in a price war and lose jobs to the lowest bidder.

What’s the best piece of advice you would give a newer photographer?

Don’t assume that because you are a great artist, that is an excuse for being a bad business person.  You can be both a talented creative and a good business person, it’s totally possible.

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Thanks again for supporting the Totally Rad Photoshop Actions community, Laura!

Find the latest & greatest from her:  www.lauranovak.com, littlenestphoto.com, strategyavenue.com