My principal concentrate in the video production small business is to figure out how I can use my talents as a video producer to make the most dollars with the least quantity of work… all when creating a business asset that will someday permit me to retire and travel the planet while I’m nevertheless young enough to truly enjoy it!
My individual income has improved by about 750% considering that I started my video production organization back in 2000 and the gross sales revenue for the firm has grown by over 1200% in the exact same period of time.
I’m not anyplace close to my definition of wealthy but I am a heck of a lot closer now than I was 9 years ago when i started this journey as a video small business owner. The point I am attempting to make in this write-up is that the turning point for my wealth and the accomplishment of my video enterprise was when I decided to cease pursuing wedding video small business and to focus one hundred% of my efforts on promoting, generating and delivering corporate video presentations.
The fact of the matter is that when you sell a wedding video, you are asking a household to give you dollars out of their personal checking account. When you sell a corporate video, you are asking someone to write you a check out of their business enterprise checking account.
The difference is that firms usually have thousands, hundreds of thousands, millions or even billions of dollars they can tap into in order to acquire your solutions whereas a family members (wedding client) ordinarily has to go into debt to buy your services.
Which Types of Video Production of people do you believe delivers the most chance for your video organization?
Primarily based on my encounter, I’d vote corporate each time. Assuming you agree or at least that you are interested in exploring it further, here’s some insight on generating the transition from wedding videography to corporate video production.
Please maintain in mind that I have nothing at all against wedding videography and I know that many of you choose to produce wedding videos simply because you do not get pleasure from corporate video production. This report isn’t for you.
My uncle Grayson, also an entrepreneur, told me when I very first started my video production business that I ought to generally attempt to sell services that would allow me to make the most dollars doable with the equipment/software I had invested in.
He added that to sell solutions that were any less than the most your equipment could produce was not excellent small business and would someday lead to problems. I must admit that at the time I didn’t seriously have an understanding of what he meant. On the other hand, after all the lessons I’ve learned by getting my feet in the fire, I know without a shadow of doubt that he was and is absolutely right!
Your $5,000 video camera can be utilised to generate a $2,000 wedding video. It can also be employed to create a $20,000 instruction video. The very same goes for your editing technique, software program, and so forth. Assuming you are a pretty competent editor, you can most likely edit the wedding video in about 40-60 hours which implies if you perform a standard work week of say 50 hours, you’ll be in a position to produce about $10,000 per month in revenue for your company.
And that is humping it… not leaving you substantially time to do anything else to develop or run your video production company.
You can program, shoot and edit the education video in the very same a single month period of time and due to the nature of the instruction video market place segment, you can command anywhere from $four,000 to $20,000 in fees per video. See where I am going?
Making corporate videos will produce you anywhere from twice to 5 times the revenue in one particular month than wedding videos will produce and you can do all or most of it with the exact same production gear and software you have now.
So, you can dispel the myth that you have to have extra gear to generate corporate videos. It just isn’t accurate. You can rent what you never own and pass the fees by way of to the client.
Assuming that you are on the identical page with what I’ve talked about above, does not it make sense to begin to steadily shift your thinking to figure out how to get any or a lot of the corporate video enterprise in your area? Yes it does!
Even a smaller share of the corporate market place will drastically boost your income and as a result result in a fatter wallet.
I could create a book on moving from weddings to corporate (and some day I probably will!) but for the sake of my time and yours, I’ll limit this report to a modest handful of guidelines.