Kris Simmons
Forum Replies Created
-
I know this answer isn’t as cool as getting new software, however, I’d consider hiring an employee to take care of all that for you. My wife handles everything you mentioned except for the proposals working about 20 hours a week or less. (We have 3 full time producer/editors and complete about 100 projects a year.) Think about hiring a mom (or dad) that has the skills but wants the flexibility in schedule so she/he can take the kids to school and pick them up. Most are willing to except lower pay in exchange for a flexible schedule.
All those “non-revenue generating” tasks seem daunting to the one actually producing the videos. To an administrative type, it’s quite easy for them to manage a lot more efficiently and effectively that we can as the creatives.
Food for thought.
Kristopher G. Simmons
Video Business Coach
MindYourVideoBusiness.com -
In Chattanooga, Tennessee, a junior editor gets between $20,000 and $30,000 based on experience and skill set. Chattanooga is a smaller market with only about 600,000 in the MSA.
Kristopher G. Simmons
Video Business Coach
MindYourVideoBusiness.com -
I agree with what some of the others have said.
You need to start with the end in mind. What will your utopian part-time post-production business look like. If I had to guess, it will be a business that you have to work on at night and/or on weekends. This will impact the type of work you can do.
Are you an experienced editor? Another hunch is that perhaps not since you are unaware of the types of edit systems available in the market. Before you spend any money, research the tools. Take a course at a local college so you can get your hands on their gear before striking out on your own. Plus, if you like the systems they have, you can purchase a similar system when you are ready to start your business.
Once you know the tools enough to be dangerous, look for mundane work other production companies don’t want to do. For instance, I can’t stand the capturing and hard drive project set-up part of the edit process. So, if the right person/opportunity came along, I’d probably let someone else outside of my business do all that work….if the price is right.
Also, we get calls all the time for projects that are much too small for us both in scope and budget. Call the production companies in your area and tell them you’d like to have that business referred to you if they don’t want it. I personally don’t like to just tell someone “No, we can’t do your project” and leave it at that. I always like to send them to another company or videographer who is better suited for the project.
Once you get used to delivering on the lower budget projects, you can start expanding your capabilities and overall offering.
Finally, it’s important to realize that just because you purchase professional equipment and software, it doesn’t make you a professional. You MUST work hard to learn all you can about the craft so that your work will help clients achieve their goals..which results in you receiving a fair paycheck. Don’t overpromise what you can deliver until you are absolutely sure of your skills and abilities. It is better for people (other production companies) to know you are still learning so they can give you less complicated projects than it is for you to accept a large project that you are unable to deliver on. They will never call you again if the latter is the case.
Good luck! Starting a new venture is always an exciting endeavor.
Kristopher G. Simmons
Video Business Coach
MindYourVideoBusiness.com -
What are your skill sets?
Are you experienced in corporate/commercial video production?
Does your current employer’s business have a large base of clients/contacts you can tap into when introducing your new video services?
If you become a partner in the business, will you also be responsible for helping to cover losses? (Being a partner doesn’t just mean you get to share when times are good. It also means you get to pull money out of your pocket to help float the business when times are bad.)
What size market are you located in?
Are there several competitors doing exactly what you’d like to do? If so, what is their position in the marketplace? Are they high-end/high-budget, low-end/low-budget or do they fit somewhere in the middle?
I’m sure you have opened yourself up to a thousand+ questions with this post mainly because it is impossible for us to help you figure out what to project or how to write your executive summary if we don’t have a better idea for the contents of your business plan.
Keep feeding us info and we’ll do our best to get you on the right track. Good luck!
Kristopher G. Simmons
Video Business Coach
MindYourVideoBusiness.com