It's smart when you learn from your mistakes, and wise when you learn from the mistakes of others. Here's a collection of mistakes that a lot of creative minds may underestimate.
Photographers fail because… they don’t have a business plan
Before you jack in the day job to do photography full-time, you need to sit down and write a 5-year business plan. It’ll probably be one of the hardest things you do.
You need to be realistic and include details of your goals, details of the market (how much money is there and where are the gaps), an analysis of customers and competitors, your USPs, any costs (and loans required) for equipment, insurance, banking and accountancy fees and, of course, your pricing strategy (see point 4).
Photographers usually work in isolation, so writing a business strategy will help you remain focused on what’s really important to your photography business and enable you to measure success – and identify areas where you need to improve.
Original source found here