My main focus in the video production business is to work out how I can use my talents as a video producer to maximize money with the smallest amount of level of effort… all while building a company asset that will someday allow me to retire and travel the entire world while I’m still young enough to truly appreciate it!
My own income has increased by about 750% since I started my video production business back 2000 and the gross sales revenue for the company has grown by over 1200% in the same period of time.
I’m not anywhere close to my definition of wealthy but I’m a heck of a great deal closer now than I was 9 years ago when i started this journey as a video business owner. The idea I’m trying to create in this article is that the turning point for my wealth and the success of my video business was when I decided to stop pursuing wedding video business and to concentrate 100% of my efforts on selling, producing and delivering corporate video presentations.
The fact of the situation is that after you sell a marriage video, you’re asking a household to offer money out of these personal checking account. When you sell a corporate video, you’re asking you to definitely write you a check out of these business checking account.
The difference is that businesses normally have thousands, video studyo a huge selection of thousands, millions as well as billions of dollars they could tap into to be able to purchase your services whereas a household (wedding client) usually has to go into debt to get your services.
Which number of people do you consider provides the most chance for your video business?
Based on my experience, I’d vote corporate every time. Assuming you agree or at the very least that you will be thinking about exploring it further, here’s some insight on making the transition from wedding videography to corporate video production.
Please remember that I have nothing against wedding videography and I know that lots of of you decide on to produce wedding videos because you do not enjoy corporate video production. This information isn’t for you.
My uncle Grayson, also an entrepreneur, said when I first started my video production business that I would always sell services that will enable me to maximize money possible with the equipment/software I’d invested in.
He added that to market services which were any less compared to most your equipment could produce was not good business and would someday lead to trouble. I must admit that during the time I didn’t really understand what he meant. However, after every one of the lessons I’ve learned by having my feet in the fire, I know without a darkness of doubt he was and is totally right!
Your $5,000 video camera may be used to produce a $2,000 wedding video. It may also be used to produce a $20,000 training video. The same goes for the editing system, software, etc. Assuming you’re a fairly competent editor, you can probably edit the wedding video in about 40-60 hours meaning if you work a normal work week of say 50 hours, you’ll be able to produce about $10,000 each month in revenue for the business.