A Video Producer does many things especially if he/she is self employed. They send video proposals, prepares quotations, draw up invoices, employ video crew, directs their shoots, write the scripts, edit the videos e.t.c.
This is too much work considering how demanding each one of them is. It thus begs the question, why would someone do all the work instead of employing people to do them?
Well, it depends on the BUDGET the producer is working with. At the end of the day, as the producer you have to make profit after paying everyone in your team.
Most entrepreneurs who are video producers, try to limit the number of crew in their team in order maximize on profits.
Having been in the video production industry for a while, it’s easy to loose track of what is important when you focus on profits alone.
On this blogpost, I will share with you 5 Important lessons that every video producer should keep dear to themselves both when things are good and when things are not that good.
1. Your Value Should Always Be On The Rise
In my life as a video producer, I have experienced good seasons and bad ones. Each one of them presents its challenges. In high seasons, due to high demand, you are confident and you keep raising your charges. During low seasons, the pressure you get from the cost of living and low income or no income at all tempts you to lower your rates.
This should not be the case. As a professional video producer, you should never lower your rates at any given time despite the fear of loosing it. It’s better to maintain it as it is than to lower.
Note: If you raise your rates during the low season, you lose nothing. After all in low times, business prospects asking for your services are rarely there. If they are, then their proposals are mostly not even close to the amount you currently charge.
2. Normalize Saying NO
Saying YES is easier than saying NO in business. That’s why most businesses fail at their early days. They say YES to any business prospect without considering the cost of doing business with them. You as the Video Producer is always the price.
If the budget you are given to work with by a client is not enough, say NO and propose otherwise. Normalize doing this and never think twice on it. In the long run, you will be able to sift your prospect list and attract only high value clients.
3. Never Forget The Lessons You Learnt In The Past
The most hurting experience most producers share is making losses after a huge production. It’s easy to forget this when your business is down and end up accepting any job without considering it’s opportunity cost.
Never forget the traumatic experience you underwent after huge production that made you losses. Its better to stay without a job than do a job that will make you losses again or put you in another season of stressful situation.
4. Update Your Gear And Use The latest Technology In Your Production
This majorly depends on many things. But again, as a Video producer- and with a little bit of creativity- a lot of ideas can be accommodated. For instance, if you are doing a series of TV drama show, using a drone may not be necessary. As a video producer, think of how you can accommodate drone footage to bring aliveness to some scenes.
Also, use the latest version of the video editing software. It comes with a lot of improvements and is efficient. Learn to embrace the latest technology that the modern generation can relate.
This way, you will be on taps with the latest video production industry market trends.
5. You Don’t Have to Own Any Equipment To Do A Production
When a new video producer starts making good money, they start investing in their own gears with the hope that in due time, it will help them cut down their production costs. This is true depending on where you come from.
As a video producer who started with nothing, I can confidently tell you that owning your own gear is not necessary. I have done several productions with zero equipment’s that I own. I hired all the equipment’s I used in these productions.
There are many companies nowadays who are ready to lease out their production equipment’s.
Secondly, with the fast changing technology, its very expensive to own video production gears. Every year or two, a new version of the camera equipment you own is launched with better specs. It somehow renders the ones that you already have obsolete.
You can grow and progress even faster when focus on leasing rather than owning.
Today like never before, most of the prospects I meet want 4K quality videos something that the camera I have can’t record.
As you grow as a video producer, its easy to forget the many values you drew from your experience. I am here to remind you that you should not forget them if you want to experience growth and see change in your life.
Always remind yourself of these five things;
- Your value should always be on the rise.
- Normalize saying NO.
- Never forget the lessons you learnt in the past.
- Update your gear and use the latest technology in your production.
- You don’t have to own any equipment to do a production.
When you remember these, you will find your life becoming easy and satisfying.
And that is it from me here.
What other things do you think video producers should never forget in their journeys? Share your thoughts in the comments section below.
And until next time, bye bye and take care.
Follow me on twitter @cheptiony.