I've been doing the MicroStock thing for a little over three months now. I think I've had some success...enough to keep me coming back..and I've learned a ton. About a month ago I mentioned in a forum post here that I wanted to share some of my experiences. Maybe it will help some other folks be successful faster and easier.
I'd kicked around the idea of supplying stock online for a couple years. I sort of knew it was out there, but didn't know too much about it. Earlier this year a designer I know used an image from IStock, which he had me alter a bit. That got me curious, and the rest is history.
*My first mistake: I went to IStock first. Now I would council newbies to spend a month or so supplying some of sites with the less demanding image inspectors first. I realize now that I chose one of the pickiest to start with. I had my ears seriously clipped when they didn't just froth lovingly over every image I sent in. "They're insane, my stuff is brilliant," I thought to myself. It took me several tries to get in. When I finally did, I think it was one nice image inspector that finally said "look...right there...top right...the picture is noisy as heck...you'll have to clean that up or submit something different." I'm really grateful to that anonymous inspector. Noise was really a new thing to me...I always thought grain was sexy.

Well, I've learned that lesson. Ultimately, I purchased Noise Ninja and that made all the difference.
I realize, now, that I didn't even know what they were looking for. I thought that I had great images they would love. It turns out, they have about 10 gazillion photographers...so they can be picky. I respect that. I now use IStock as my litmus test for retouching. When I'm done with an image, I look it over and think "would it fly on IStock." That seems to work really well across the board. I still haven't made it to my first payout there (almost), but the the diligence I learned on IStock has helped me be successful elsewhere, too. My acceptance rate there hovers around 50%.
*My second mistake. I chose ShutterStock as my second target. That was a real humbling experience. It took me four tries to get my ten images passed and get me into the fold. I thought about just saying forget it. I'm so glad (based on input from people on this forum) that I stuck it out. Attempt four was a charm...and now I love ShutterStock. I actually find that they accept a lot more of my images than IStock does. Not that they are a slam dunk, but they are pretty accepting of good quality stuff. And they immediately outsold everyone else...and continue to do that.
In the midst of doing all this submitting, research, etc...I ultimately ended up supplying almost 30 sites! My plan was to try them out and see who sold and who didn't. I ended up paring the list down a few weeks ago to 12. I suspect I'll make another cut. I left my images up on the other sites, so they continue to sell slowly. maybe I'll see a payout some day off of them...and maybe not.
In the mean time I also ended up supplying two sites that pay up front for images rather than paying by download. One allows you to keep the rights, and the other pays a bit more and you give up the rights for good. I have some contractual obligations not to share too much info...but I will say this is a nice way to get a bigger chunk of cash up front. The site that pays up front AND allows me to keep all rights and sell the images elsewhere paid me over $800 last month. That's pretty cool.
OK. You can probably tell that I sort of just jump in when I decide to do something.

So I signed up to be an image inspector on one site (to be unnamed in case I don't pass one of YOUR photos). That really gives me some perspective. I probably pass less than half of the images that come in. The stuff ranges from "amazing" to "you must be kidding." In every case I try to be kind and give good constructive information. I know what it feels like on the other end.
I'm a freelancer. I do film and video work as well as photography. That means I have the time and the work structure to allow me focus efforts and work on building MicroStock into something more than a hobby. My goal is 2,000 images by the end of 2008 (plus images that I sell outright, not counted in that portfolio) and an income of $2,000 from MicroStock per month. I'm pretty sure I can do that...but it's not easy. I worked very hard to get that $1,000 or so last month. When I'm busy with other projects it's even harder. In fact, there are a lot of other things I do that are much more profitable. However, it is getting easier. The more I understand and work the system...so far...the easier it has gotten. I'll keep plugging.
I'd be interested to hear about the start-up stories of others on this forum.
Cheers,
Scott
Creatista