This is the first in a series of blogs about starting your own video production business, based on my experiences over the past 11 years. My hope is that you’ll find these posts helpful and that they’ll get you on your way to running your own successful and fulfilling business.
So – where to start?
There are a few ways of starting your own business:
- Buy a franchise (not something I’ve seen though with video production businesses)
- Buy an existing video production business
- Start your own from the ground up
This post is about starting your own, although future posts will also look at the first two options.
I started my business after more than 35 years working in the world of television and communications. (You can read my resume here.) I was prompted in part by two of my sons who had recently started their own businesses and partly by dissatisfaction with where I was working at the time. The three hour commute each day didn’t help either.
You can see why starting my own business from home was pretty attractive. Plus I had two friends who ran very similar businesses and I used to contract work to them as a PAYE employee so I knew such a business could work.
So, I had found something that I thought I could do also. Here’s a summary then of the things that came together for me:
- I had experience in the industry
- I had already been doing the sort of projects for my employer that I wanted to start doing for clients
- I was able to negotiate some on-going projects with my employer, which meant that when I stepped out on my own, I already had work lined up and some income.
It would have been a lot harder if these things hadn’t lined up. Plus having worked for someone else for 35 + years, I did have some funds put away to support the business until I got going.
PS. If you’d like more on how to start a business, especially if you’re a baby boomer, check out Proboomer.com.
Oh, I love this! I’ve been thinking about starting a video-centered business of my own. I’m very interested in all things video, and I will be paying very close attention to this video series! Looking forward to it!
Stay tuned – lots more to come.
Question! What would your advice be to someone who did not have the advantages you have? I, for example, am young and do not have enough money to support myself while they business gets going, and this severely cuts down on my time. Do you have any advice, or know anyone who has faced those challenges?
I think you would have the same problem, not matter what sort of business you started. When I started out on my own, I had a 30+ year working life behind me, so that made it a bit easier. I think a key point is to make sure you have some work already on the table, as it were, before you make the leap. Ultimately of course, you are taking a risk.
Starting from the ground up is my option, haha. I have a little film education, but no industry experience, so I’m looking at a pretty exciting adventure ahead of me. Can’t wait to see where this article series goes, because I can use all the help I can get.
Thanks for the info!
You’re welcome.
Audio is king! It’s my advice to anyone that is looking one thing to spend money on, it’s to make sure you have crystal-clear professional audio. Spend your money on the mics and accessories for them, and everything will come across as infinitely more professional than if you spent your money elsewhere.
Bad audio ruins video every time, but good audio can make bad video look much, much better.
I agree – couldn’t have said it better myself.
Wow, you have a ton of experience! For those of us not starting out with that much video experience, is there a certain skill you would emphasize newbies learning first? I want to get some experience, but I’m not sure where I should start. There’s so much to learn. I’m leaning towards learning editing first, but that may not be the right option…
Can you talk more about how you negotiated projects with your employer? I’d like to start working from home more, but I have no idea how to go about that. Is it something you feel like you were able to bring up because of your status in the industry, or do you feel like a younger person has that potential?
I suppose I was fortunate in that I was already shooting videos for my employer at the time. I gave him a good rate for me to continue shooting – but as a freelancer. I still for work for them now, so that’s not bad after 11 years.
Looking to start my own business as well. I have a little experience, but it’s mostly in marketing. I figure viral video marketing is huge right now, so there should be a good market for that kind of thing. This series seems like it’s going to be a good start. Thanks a lot!
Yes, you’re right. Video is King! (as they say.) But it does take work and you need to market yourself. My next post on this subject talks about marketing, so check back on 16th.
Huh. Do you have experience in YouTube and online video? I’m a consultant working for small online creators, and I’m wondering if this video series will lend itself well to creating a business in online video and marketing. Looking to pick up some advice I can give my YouTube clients, because we’re still exploring the space and trying to find a good way to do things.
Most of the videos I make for clients end up on Youtube, as that’s the way they embed them into their web sites or Facebook pages. My focus for this series is to blog about how I got started, so that anyone interested can get some tips.
Buying an existing video production business is an interesting though, although I wonder if it might not be more trouble than it’s worth, because you’d have to spend all that money rebranding it and remaking it to what you want it to be. Unless you plan on doing exactly what they did before and make no changes, it might be more valuable to just create your own from the ground up.
Yes, I think you’re right. But businesses of all types come up for sale and for some people that may be an opportunity. It’s probably not the most common way though to get into video.