You want to start your own video production business. What's the first thing you need to do?

In my experience I have always heard people say you need to niche down to a specific industry. I am 6 years into starting my own video business and have 7 team members and millions of dollars later and still haven't niched down to a specific industry. I think the bigger thing you want to do is really figure out what you want out of your video company. A lot of guys think they will start and just farm out the work and life will be easy and the money will flow and that's not the case. Figure out what you want and then build it accordingly.

Starting your own video production business is an exciting journey, and the very first step is like setting up a compass for your venture: identifying your niche. Think about what excites you in the world of videoproduction, is it documentaries, weddings, corporate training, or maybe music videos? Knowing who you're creating for makes your work more purposeful and fulfilling. It's not just about finding customers; it's about connecting with your audience on a deeper level and creating content that resonates. This approach not only carves out your space in the market but also fuels your passion, guiding your business toward success.

Starting your own video production company, can be very challenging these days, due to the competition and historical situation of the industry. But I will recommend finding a niche that is not already saturated, produce content for that specific sector and contact all the players that make part of it that may need your service. Once you become a key player, you will be able to expand your work to different industries.

Carving out your niche and becoming an expert in it can help you stand out in a big way and give your future clients a clear understanding of why they should hire you and what you bring to the table. But also finding your niche might take years of exploration.

Video production is an informational tool set utilized by almost every business and organization under the sun in some way. So when entering video production, it helps to know what you're specifically getting into. This is defined by the field, customer, industry, audience, platform, technology, and so much more. A drone video for a real estate project is not a Hollywood film production is not a YouTube miniseries - everything has its own considerations to consider depending on the type of production. By finding your niche, you build a perfect business plan and buy the right equipment.

I think this is dumb and one of the best things that I learned was to not look around. I let other people chase what I'm doing and not look at what others are doing. If you see competitors rocking and rolling and being successful it's not a motivating experience. Be the best you can be and let others try to copy you.

Sicherlich kann man sich seine Mitbewerber anschauen, dabei sollte man aber auch bedenken, dass diese z.B. länger am Markt sind, eine andere Zielgruppe haben, und so weiter, man sollte keine Äpfel mit Birnen vergleichen. Lieber sollte man sich auf seine eigenen Stärken konzentrieren und diese für sein Business zu nutzen.

In my opinion, this is key. Knowing the market price helps you value yourself proper so you do not sell yourself short or overvalue your current skill set. It helps when trying to close an "Invitation to quote" or tenders.

This plan is your roadmap, helping you clarify your vision for the business and laying out the steps to make that vision a reality. It's important to detail who your target market is, what unique services you offer, and how you plan to market those services. Financial and operational planning can't be overlooked either, they ensure you're prepared for the day-to-day management and long-term sustainability of your business.

In my experience people waste to much time on this trying to make it perfect. Is there a time and a place to have a business plan and work on the foundations of your company? Sure! But why don't you actually focus on getting some work and creating a business to work on. People live in the clouds to much and never actually get anything going.

Gerade wenn man noch keine Erfahrung in diesem Bereich hat, macht es wenig Sinn zu versuchen, einen Businessplan aufzustellen. Du verkaufst kein Massenprodukt sondern eine sehr individuelle Dienstleistung, hier kann man nicht so pauschalisiert denken. Einfach mal machen, Jobs finden, Videos drehen, merken was für einen funktioniert und das Ganze dann ausbauen. 💪

This is easy! Do it right and find a local small business lawyer that can draw up everything for you and do all the work. You might pay a little more but they do everything and you know its going to be done right.

In Deutschland reicht für den Anfang als "Registrierung" die Gewerbeanmeldung. Diesen Schritt solltest du allerdings schon zu Anfang gehen, bevor du die ersten Aufträge erledigst. Empfehlenswert sind auch ordentliche Produktionsverträge, AGBs, usw. aufzusetzen. Entweder konsultiert man dafür einen auf Medienrecht spezialisierten Anwalt, oder verhilft sich selbst mittels Internet. Es gibt auch Menschen, die Vorlagen verkaufen, hiervon halte ich allerdings relativ wenig, da diese Vorlagen auch von dir angepasst werden müssen, also kannst du es gleich komplett selber machen oder das Geld jemandem geben, der weiß, was er tut.

Your portfolio can speak volumes about you. Aim to showcase your best work, but make sure it's a diverse mix of content types to demonstrate the breadth of your skills.

When you start never offer free! People and companies will try to take advantage of you by saying you can say you worked with us. Never gets you what you want! I do believe in starting small and cheaper and building up you pricing as your work gets better and better. I started doing videos for $300 and now we charge over 5 figures.

Building a strong portfolio for your business is crucial for several reasons: 1. It showcases your skills and style, setting clear expectations for potential clients. 2. A well-crafted portfolio serves as a powerful marketing tool, both in person and online. 3. It demonstrates professionalism, indicating that you have carefully curated and presented your top work. Overall, a great portfolio can set you apart in a competitive market, attracting clients and opportunities to grow your business.

In today’s digital-first world, it’s important to remember that people love a physical connection. But remember, business cards are so yesterday. Instead, you should turn up to networking events with a pack of custard creams at the ready. Everyone loves custard creams. You want clients? Custard creams. You want brand evangelists? Custard creams, my guy. You find me anyone who would turn down a cheeky custard cream (or “Cuzzie Cs” as we call them in the industry) without a medical reason. Slip one in-hand and that project is a done deal.

Always network when you can. People like meeting people and seeing a face. If you make it a habit, then you start understanding what people want and how you can help them. What's not to like about networking? Especially getting great referrals. As Nike says it "JUST DO IT"

It's going to be a long, tough path ahead... Are you ready for it? Be prepared for pain. Don't expect or depend on the business for personal income for at least 2 years. Invest in it and yourself as much as possible and never do work for free for anyone that asks. Embrace your passion Set clear goals Be tough and cultivate resilience Network your ass off Continue Learning Work hard but spend time with your loved ones Seek Feedback Stay Flexible Believe in Yourself Enjoy the Journey! Otherwise, what's the point? Good luck.