[Bruce Bennett]

Hi Chad,

[chadwick Chennault] “I generally just pull a number out of my butt and live with it.”

If this method does not prove beneficial…

One thing that I use is a “living” Excel spreadsheet. On page one, I list all estimated and actual monthly, quarterly and yearly expenses: all insurance premiums, salary, accounting fees, Website hosting fees, phone, a yearly unforeseen expenses budget, office supplies budget, membership fees, government fees/costs, more government fees/costs, etc. I then create a formula to get a number that tells me what I need to make every single quarter in order to survive/break even.

Excel page two lists projects sold by quarter with the net income (not gross income) for each project. I then add them up to get a “total quarterly net income,” and then subtract my estimated monthly quarterly expenses amount (from page 1). I also subtract my dividends payments and employee reimbursements (i.e., mileage). That final number tells me if I’m the black or in the red for that quarter.

I then take that profit/loss number and divide it by the number 12 so that I know how many more months I’m good for (or how many months I’m behind). It is a good way for me to see exactly how my business is doing.

Hope this helps somewhat.

Good Luck!
Bruce

Bruce Bennett
Bennett Marketing & Media Production, LLC

[Bruce Bennett]

[walter biscardi] “Manwiches are even better. Mmmmmm, Manwich.”

I dunno, Walter. I think it’s hard to beat an Old McDonald’s pulled pork “sammich” and a bowl of brunswick stew. Gonna get me some this coming 4th of July week 🙂

Cheers!
Bruce

Bruce Bennett
Bennett Marketing & Media Production, LLC

[Bruce Bennett]

Hi Bob,

Great post. Thanks for the reminder 🙂

Bruce

Bruce Bennett
Bennett Marketing & Media Production, LLC

[Bruce Bennett]

Hi Oliver,

All works are automatically copyrighted upon completion (even if you do not publish a written copyright date with it). The including of a date on your work (i.e., ©2008) helps prove that you created your work at a certain point/date in time. This can be beneficial when suing others who have copied your work, or if you need to defend yourself from others who claim that they own the copyright for similarly created material. So when it comes to legally protecting your work, an earlier published copyright date is more beneficial.

A friend of mine who is a painter, says that many painters do not include dates on their work because it deters from selling them (seems like some people only want to buy her newest paintings). I can see this same concern crossing over into our world of media creation since we don’t want our peers/clients to see “outdated work”, but to me, legally protecting our work by putting an actual date on things is worth the price.

One way to help keep your ownership/copyright of an earlier created work/project with the addition of newly appended material is to publish a range of copyright dates along with the work (i.e., ©2006 – 2009 Bennett Marketing & Media Production, LLC). You see this all the time with software, Websites, revised cookbooks, etc.

Bruce

Bruce Bennett
Bennett Marketing & Media Production, LLC

[Bruce Bennett]

Yeah, I agree, Peter is pretty awesome to work with (hired him last quarter). He gave me his personal contact info without my asking him in case I needed any changes.
Here’s the link if you care/interested: https://www.bmmp.com/resources/ACUM+100th+$28edited+clip$29.wmv

Cheers!
Bruce

Bruce Bennett
Bennett Marketing & Media Production, LLC

[Bruce Bennett]

Hi Nick,

Peter Thomas, Jr.? Sounds younger than Peter Thomas, Sr.

Bruce

Bruce Bennett
Bennett Marketing & Media Production, LLC

[Bruce Bennett]

Hi Douglas,

Like I suggested, I would hand pick one or two projects from the “low budget offers” and invest time (not out-of-pocket expenses) into producing something that can be used to show and gain higher-end clients in the future. Promote, distribute, and show the Hell out of it. The pride and confidence that you will feel will also be conveyed to prospective clients when you show your work during your face-to-face meetings. Keep track of all your time and expenses so that you can estimate/bid similar quality level projects without having to invest/lose money in the future. Also make sure you line item the discount on your final invoice(s) so that your client knows that it will cost them if there is a next time Chances are that you will not want to do business if the grinder client expects a discount again, so choose what may be a “one shot” project.

If you don’t want to look like, or have your competitors see/know, your “giving away” time/money, I suggest that you look to non-profit organizations and do a pro bono project There are tons (especially with this recession) of food pantries, homeless shelters, home assistance projects and many other related non-profits that could use a good video to show prospective donors. You might even get some of your expenses (tape costs, a couple of free lunches, etc.) paid by a businesses/donors within your community. Also, exposing yourself to such causes may have a positive affect on how you personally grow within your craft (it does for me).

On another note (no music video pun intended)… One thing that I have done (and continue to do) is hire people who are better than I am for higher dollar projects. Some times the project is so large that I can’t do it all and need to sub out another colleague to write, direct, or produce. Their services/rates still come out of the project budget and I get less money, but the value of what I learn has proven itself time and time again in getting better paying gigs/higher quality projects.

Bruce

Bruce Bennett
Bennett Marketing & Media Production, LLC

[Bruce Bennett]

Hi Douglas,

I went through your post responses and put together some of your quotes…

“We’re both in our mid 20’s, so of course there’s the struggle of being taken seriously as far as being “seasoned” videographers/directors.”
“We’ve only been taking it seriously as a business for few months…”
“Well, most of the work we’ve done so far has been music videos and parties…”
“Many are scared off by having to pay anything reasonable…”

I think your answer lies within your own statements. Do you expect to command the same rates and “high profile” projects like others who have more experience, been in business for years (versus a few months) and have portfolios that go well beyond “music videos and parties?”

And then there are many, many other “haves” that you are competing against. Such as seasoned professionals who are making a living in this business (without a primary or secondary job), have $1-4 million general liability insurance policies that help ensure clients against production mishaps, have incorporated production companies (versus TBAs) that help protect clients from paying employee related taxes to the government, have a physical building where clients can bring their bosses and keep their media in a fireproof vault, etc., etc.

Seems to me that you are “reaching way too high” for what you have to offer. It’s not a jab. Many of us did the same thing (myself included) when we were new and young so many years and so many projects ago.

As far as your demo reel… In my opinion, it does not say “We can solve your problem” or “We can tell your story” (unless you need a music video). It does not connect with Corporate America’s needs (training, marketing, etc.) at all if that is your target market.

Hand pick some of the “low paying” jobs that might touch your soul, craft them into great stories and highlight them with your talented fancy effects, and then use them to grow and get better paying projects.

Good Luck!
Bruce

Bruce Bennett
Bennett Marketing & Media Production, LLC

[Bruce Bennett]

[Bill Paris] “Now there’s been no response for over a week after repeated emails and phone calls.”

Hi Bill,

Some times a week is not a very long time for this sort of thing (especially for some big corporate environments). There may be a couple of reasons why you haven’t heard back from him/her. Some production people take vacation time right away after a large project, he/she has not yet contacted accounting to cancel and re-cut a new check, etc. If you don’t hear back within the next day or two, I would then leave a voice mail and give the person 2-days for a call back. If no call back, I would call their accounting department directly. This sort of thing happens all the time.

[Bill Paris] “OK, I know….. I was a bonehead for losing the check!!!”
We all make mistakes and all we can do is apply what we learn so that we can do our best to avoid duplicating them.

Good Luck,
Bruce

Bruce Bennett
Bennett Marketing & Media Production, LLC

[Bruce Bennett]

Hi Andrew,

When I worked internally for a corporation, I purchased Music2Hues royalty free library. They also offer online downloads. I feel they are a good value with a selection that is better than many other royalty free music providers/companies.

https://www.music2hues.com/

Good Luck,
Bruce

Bruce Bennett
Bennett Marketing & Media Production, LLC