10 Tips I Wish I Knew Before Starting My Video Production Business!
Hey! Thanks for watching, I'm Joey from @ciolkoarts, and today I'll share the top 10 things I wish I knew before starting a video production company. Be sure to give me a follow before reading!
[Tip 1 - Company Name]
First, don’t stress over the name of your company too much. It’s your work that will truly make a name for itself. Focus on delivering quality. Your clients will not care what your name is - as long as your work is good!
[Tip 2 - Client Promises]
Secondly, clients may promise future work for discounts today. Our experience shows these promises often don’t pan out. Always stick to your original rates - and don’t give exceptions for more potential future work. It’s better to charge your original price and maybe give a discount to that client down the line.
[Tip 3 - Equipment]
Third, starting with basic gear is fine. It’s more important to master what you have than to have the latest gear. Most of the time clients will not even care what kind of camera you use, as long as you are delivering a quality product.
[Tip 4 - Social Media]
Fourth, leverage social media. It’s crucial for visibility and can dramatically enhance your business reach. I only started social media this year in 2024, and I cannot imagine where my business would be if I started 8 years ago when we launched. Even if you do not strive to be an influencer or famous YouTuber, use your social media as an online portfolio. Nowadays, if you are not on social media people will not even know you exist.
[Tip 5 - Expect Problems]
Fifth, anticipate problems in every project. From technical glitches to unexpected disruptions, being prepared is key. This job is about being able to use creative problem solving. Don’t let these hiccups discourage you and find creative ways to fix them!
[Tip 6 - Undercharging is OK]
Sixth, as a budding video director, it's almost guaranteed that you'll initially undercharge for your services—and that's perfectly acceptable. Early on, establishing your pricing can feel like navigating uncharted waters. This phase is crucial, as it serves as a learning curve, allowing you to gain a better understanding of the industry standards and the unique value you bring to each project. Over time, you'll develop the confidence to assert your worth accurately, ensuring that your fees reflect the quality and creativity of your work.
[Tip 7 - Payment Delays]
Seventh, be prepared for payment delays. Even with 30-day terms, some clients will wait until the last moment to pay. Chasing payments can be part of the job. Try not to let this get to you and remember that the money is coming!
[Tip 8 - Diversify Your Portfolio]
Eighth, be open to all types of projects. From music videos to weddings, diversifying your portfolio when you are just starting out will not only build your skills but also expand your client base. This will help you to find out what you like shooting as a creator and more importantly - what you DON’T!
[Tip 9 - Your Network is Key]
Ninth is networking. Build strong relationships within the industry. Networking is crucial in the video production and business world. Connecting with other filmmakers, potential clients, and industry professionals can open doors to new opportunities and collaborations. Building a robust network not only brings in more projects but also creates a support system of peers who can offer advice, share experiences, and potentially partner on projects. Remember, in the creative industries, your network often determines your net worth.
[Tip 10 - FOLLOW FOR MORE INSIGHTS]
And tenth, follow @ciolkoarts for more tips and tricks on starting a video production business, and behind-the-scenes content that can really help new starters. I have scaled my business to do more than $100K in revenue every year and I am now dedicated to teaching others how to do the same!
