My principal focus in the video production company 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 even though constructing a organization asset that will someday allow me to retire and travel the world while I am nonetheless young enough to actually get pleasure from it!
My personal earnings has elevated by about 750% because I began my video production company back in 2000 and the gross sales income for the organization has grown by over 1200% in the exact same period of time.
I am not anyplace close to my definition of wealthy but I’m a heck of a lot closer now than I was 9 years ago when i began this journey as a video business owner. The point I am attempting to make in this post is that the turning point for my wealth and the accomplishment of my video business was when I decided to cease pursuing wedding video business enterprise and to focus 100% of my efforts on selling, making 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 income out of their private checking account. When you sell a corporate video, you are asking somebody to write you a check out of their organization checking account.
The difference is that firms commonly have thousands, hundreds of thousands, millions or even billions of dollars they can tap into in order to purchase your solutions whereas a family (wedding client) typically has to go into debt to purchase your services.
Which cinematographer of people today do you assume offers the most chance for your video enterprise?
Based on my practical experience, I’d vote corporate every single time. Assuming you agree or at least that you are interested in exploring it additional, here’s some insight on producing the transition from wedding videography to corporate video production.
Please preserve in thoughts that I have nothing against wedding videography and I know that quite a few of you select to produce wedding videos because you do not delight in corporate video production. This write-up isn’t for you.
My uncle Grayson, also an entrepreneur, told me when I 1st began my video production small business that I ought to always try to sell services that would enable me to make the most revenue attainable with the equipment/application I had invested in.
He added that to sell services that had been any significantly less than the most your gear could create was not excellent business and would someday lead to difficulty. I have to admit that at the time I didn’t really fully grasp what he meant. Having said that, just after all the lessons I’ve discovered by obtaining my feet in the fire, I know with no a shadow of doubt that he was and is definitely ideal!
Your $5,000 video camera can be made use of to create a $two,000 wedding video. It can also be utilized to produce a $20,000 education video. The very same goes for your editing technique, software program, and so forth. Assuming you are a relatively competent editor, you can probably edit the wedding video in about 40-60 hours which means if you function a normal operate week of say 50 hours, you’ll be capable to generate about $10,000 per month in revenue for your small business.
And that is humping it… not leaving you considerably time to do anything else to create or run your video production enterprise.
You can program, shoot and edit the coaching video in the same 1 month period of time and due to the nature of the coaching video industry segment, you can command anyplace from $4,000 to $20,000 in costs per video. See where I’m going?
Generating corporate videos will generate you anywhere from twice to five occasions the earnings in a single month than wedding videos will make and you can do all or most of it with the very same production gear and software program you have now.
So, you can dispel the myth that you have to have far more gear to generate corporate videos. It simply isn’t true. You can rent what you never personal and pass the expenses via to the client.
Assuming that you are on the identical page with what I’ve mentioned above, doesn’t it make sense to start out to steadily shift your thinking to figure out how to get any or a lot of the corporate video small business in your area? Yes it does!
Even a smaller share of the corporate industry will substantially enhance your income and hence result in a fatter wallet.
I could write a book on moving from weddings to corporate (and some day I in all probability will!) but for the sake of my time and yours, I will limit this report to a little handful of strategies.