Young photographers, what do you need to start a business, besides a camera, Photoshop, and a cool name?

Education in the field, and experience. Not just in photography, but in business, art, and dealing with clients. One has to know how to direct clients, price photoshoots and prints, and deal with anything that could possibly go wrong. Marketing is a skill that is essential as well- how to promote yourself in the best way possible to attract and keep clients. A camera is vital of course, but it should provide results that the consumer cannot provide for themselves with a cheap DSLR in terms of quality. Knowledge of the camera is incredibly important too, the photographer should know the ins and outs of their equipment, and have backup on hand at a moment's notice in case something goes wrong. A tripod, fast, quality lenses, and proper lighting equipment are necessary too. These days, natural lighting is becoming more and more popular, but one needs to know how to work studio lights too in order to go pro.Photoshop is necessary, but so is a knowledge of how to use it, and use it well to achieve the results the consumer is looking for. The name (in my opinion) should be the photographer's name...cheesy names scream "tacky and unprofessional."

I don't feel like I have lost business at all. The people who are hiring an amateur or having a friend do it would not have hired me in the first place. The people who have a friend shoot their wedding probably could not afford to pay a pro. That said no corporation is going to have the data entry clerk with a good camera shoot their new products. Newspapers aren't about to send the paper boy to cover a football game. Some people trying to get into modelling or acting might have a friend do their head shots but if the person was ever accepted by an agency they would be sent out to get proper head shots done. When my father was young photographers were complaining about the same thing except the cameras were 35mm. If a technology becomes affordable to the public then you will have amateurs using it and the need for a professional will be diminished somewhat but never replaced. Your business needs to change with the economy and technology

Well, I'm not so young anymore but I'm not a seasoned pro either, so I'll gently throw my two cent into the pot.

You need a good line of credit.

You need will power and determination.

And you need a great tax accountant to make it look like you're losing money for the first ten years.

ADDED: I accidently said I was not 'seasoned', I looked it up on Google, pickling is a seasoning and I'm pretty pickled about 3/4 of the time. ;}

ADDED: @ Teri- What time zone?

MORE ADDED: Just thought of a cool name for my business. 'Candid Chris's Candid Camera Classics' + a subtitle clause ' Only Canon-ized Chris Since Saint Christopher Was De-canonized'.

I'm not a seasoned pro but I'm no dunce either.

Here's what I have gathered beyond the business and photography side: A sense of humor, sharp wit, superior social skills, and one hell of a thick skin. If you can't laugh and be willing to learn or make fun of yourself at times for dumbsh*t moves, you're going to have a rough time. And confidence really comes in handy too. Too many people out there exist only to cut down others for trying. Unless you really suck and/or have zero business sense then shake off the negative bullshit and keep trying.

EDIT:

I always knew Teri had a feisty dominatrix side to her. Heehee. Whips and chains anyone?

Well, why would a 'young' photographer know something that a pro already does?

You need skills, you need to know the ins and outs of running a business and how to handle customers while you are taking their picture and while you are quoting them prices.

I want to have a successful business one day. Right now, practice practice practice and those willing to pay a little ($40) to help me pay for workshops are welcome to get their photos taken.

Good luck

Financial backing to start the business, having the skills professionaly to use the equipment, having social skills to control the model/group.

After i return from my 2 years, photography will be my career. It will be though but i have a few tricks up my sleeve yet. :P

Good Luck.

A lot of those things that have already been mentioned, but also has sustained effort and hard work gone out of style.? All the financing in the world can't replace initiative and hard work!?

The first thing I thought of was one word so this will be quick:

Talent

You need talent and a great eye for composition. The rest is just learning a trade as best as you possibly can.

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There are so many photographers you need a style that is recognizable by looking at your pictures that makes them stand out from the crowd. hope this helps and good luck.