Video Production Small business Tips – Why Wedding Videographers Really should Move to Corporate Video
My major focus in the video production enterprise is to figure out how I can use my talents as a video producer to make the most money with the least quantity of effort… all even though constructing a business asset that will someday permit me to retire and travel the globe though I am still young enough to truly love it!
My private earnings has enhanced by about 750% given that I started my video production company back in 2000 and the gross sales revenue for the enterprise has grown by over 1200% in the 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 started this journey as a video business owner. The point I’m trying to make in this post is that the turning point for my wealth and the accomplishment of my video small business was when I decided to stop pursuing wedding video company and to focus 100% of my efforts on selling, generating and delivering corporate video presentations.
The truth of the matter is that when you sell a wedding video, you are asking a loved ones to give you income out of their personal checking account. When you sell a corporate video, you are asking a person to create you a verify out of their company checking account.
The distinction is that organizations usually have thousands, hundreds of thousands, millions or even billions of dollars they can tap into in order to purchase your solutions whereas a loved ones (wedding client) usually has to go into debt to purchase your services.
Which group of persons do you consider gives the most opportunity for your video small business?
Primarily based on my encounter, I’d vote corporate each time. Assuming you agree or at least that you are interested in exploring it additional, here’s some insight on making the transition from wedding videography to corporate video production.
Please retain in thoughts that I have absolutely nothing against wedding videography and I know that quite a few of you select to create wedding videos since you do not delight in corporate video production. This short article isn’t for you.
My uncle Grayson, also an entrepreneur, told me when I initial began my video production business enterprise that I ought to usually try to sell services that would enable me to make the most funds achievable with the equipment/computer software I had invested in.
He added that to sell services that had been any significantly less than the most your gear could produce was not superior company and would someday lead to trouble. I should admit that at the time I did not genuinely fully grasp what he meant. On the other hand, right after all the lessons I’ve discovered by getting my feet in the fire, I know with no a shadow of doubt that he was and is completely ideal!
Your $five,000 video camera can be made use of to create a $2,000 wedding video. It can also be made use of to make a $20,000 training video. The identical goes for your editing method, software, and so on. Assuming you are a fairly competent editor, you can most likely edit the wedding video in about 40-60 hours which signifies if you work a regular function week of say 50 hours, you’ll be in a position to produce about $ten,000 per month in income for your business enterprise.
And that is humping it… not leaving you substantially time to do something else to make or run your video production business enterprise.
You can program, shoot and edit the training video in the identical 1 month period of time and due to the nature of the coaching video market segment, you can command anywhere from $four,000 to $20,000 in charges per video. See where I’m going?
Making corporate videos will produce you anywhere from twice to five occasions the income in 1 month than wedding videos will make and you can do all or most of it with the exact same production gear and software program you have now.
So, you can dispel the myth that you have to have additional gear to generate corporate videos. It simply isn’t accurate. You can rent what you don’t own and pass the fees by means of to the client.
Assuming that you are on the similar page with what I’ve pointed out above, does not it make sense to start out to progressively shift your pondering to figure out how to get any or a lot of the corporate video organization in your area? Yes it does!
Even a compact share of the corporate marketplace will substantially boost your income and consequently outcome in a fatter wallet.
I could write a book on moving from weddings to corporate (and some day I probably will!) but for Rosser Goodman of my time and yours, I will limit this write-up to a small handful of recommendations.