Tag: 5 things

  • 5 Things That Will Kill a Million Dollar Idea At Its Inception

    Its very easy for a million dollar idea to die at its inception. It doesn’t matter who you are, your level of education and experience and how wealthy you are. If you fail to follow the correct business procedures in executing your concept, then the probability of your idea failing at its early stages after launch is very high.

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    In this blogpost, I will share 5 things that kills a million idea at its inception.

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    Being Overambitious

    Ambition on the product you are creating to provide a solution is good. This is the key driver to your success. The problem is trying to transfer your ambition to your friends and family.

    There is a difference between selling your ambition and attempting to transfer ‘your ambition‘ burden to people and wanting them to have the same vibe as you have on the concept.

    Focus on selling your idea or showing people how committed you are in solving a problem in the marketplace. Avoid trying to make everyone be ambitions about your product because they don’t have the vision you have unless you are looking for disappointments.

    Such acts will kill your vision and focus on providing a long term lasting solution to the world.

    At the end, your million dollar idea will fail because not everyone will see things as you do or is willing to walk with you towards attaining your vision.

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    Desire to Get Rich Quick

    Million dollar ideas are ideas with potential of generating millions of money in sales. Problem is, there is no timeline to attaining millions in sales. It varies depending on the product or service on offer. For some it takes months, while for others it takes years.

    Have patience. Take a step at a time. Determine the risks involved beforehand.

    Being impatient will kill your idea at its early stages. Its important to regularly take necessary breaks when feeling overwhelmed.

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    Sociological Issues at Home

    Its hard to have a clear focus when you are going through sociological problems at home. This ranges from Family wrangles, parents denying you essential services to make your life easy while working on your million dollar project, discouragement from people in your inner circle e.t.c.

    When your social environment is toxic, the probability of you succeeding is very low. Its important to establish the source of your problems and find a lasting solution to it.

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    Financial Constraints

    Your million dollar idea can be in form of a product or a service. For example, in order to get started, you need to create the product, set up a good technological system to execute the idea, market the idea, offer the best customer service, pay your taxes e.t.c.

    All these components mentioned above require finances in order to properly execute them. Most startups invest their own savings on their ideas. At some stage, they come to a standstill because of financial constraints.

    In order to successfully protect your idea; go slow. Don’t rush things. This way you will be able to manage your risks without burning out.

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    Government Interventions

    You can run away from the government business legal procedures, but you cannot hide. They will definitely catch you, and when they do, you will dearly pay for the trouble you have caused.

    It’s therefore important to be compliant with government requirements when creating your product or setting up a service software.

    Get all the licenses required to legally operate your business. Be compliant with taxes. This way, when you succeed, you will be in good terms with the government.

    Most million dollar ideas are brought down at its peak by governments because of non-compliance. Be compliant.

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    And that is it from me here on 5 things that will bring down a million dollar idea.

    If you have any additional suggestions or ideas, let me know in the comments section below.

    Until next time, take care.

    If you need professional screencast video tutorials produced for you, let me know here.

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  • 5 Things to do During Low Freelancing Seasons

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    If there is one great advise any seasoned Freelancer will ever give you- is that there is a pattern in the Freelancing business. There is the low season and there is the high season. Both seasons may occur 2-3 times a year based on the category of service you are offering. Low seasons is that month in the year where you record low sales while high season is the one that you record high sales.

    In the video production business, based on my own analysis- low seasons occur 3-4 times a year while high season are distributed into 4 different months in a year. I will not be specific on the months because it changes all the time.

    High seasons are the most exciting ones because you are making good money from Freelancing. On the other hand, low seasons are the most boring ones because there is less work and the earnings are very small.

    In this blogpost, I will share with you five things that you can do during the low seasons in the freelancing business to build yourself and stand out from the crowd.

    Update Your Profile

    It’s really hard to update your personal profile when you are busy working. It may take you a whole year to update your profile with the latest projects you have accomplished. Commit yourself to do this during the low seasons. It is the best period since you have a lot of free time to do it. Add your latest accomplishments and change a few things to make yourself stand out from other freelancers. In the video production category, take your time to create a very enticing show reel or Trailer.

    Take a Vacation

    You may find yourself busy and working at the time when everyone is going for their summer vacation and free when everyone is back. In such occasions, you will postpone your vacation. Plan your finances well so that you can go for a vacation on low seasons. The best thing about this is-if your vacation falls in a time when few people are travelling- you will get save a lot of money on accommodation and travel cost as the demand for the same is low. This is a good thing as you will be motivated to travel and explore more.

    Learn Something New Related to Your Skill

    Let’s say you specialize is in a specific niche of a particular skill. A good example in the video production business is Video editing with Adobe premiere. During the low seasons, it will be a great to learn motion graphics with Adobe after effects. You will be surprised on how much this will add value to your Freelancing portfolio. On the other hand, take your time to learn how to set up an online business and sell your skills. With more and more people gaining confidence in your skills-you will be a step higher in building a business from the services that you are offering.

    Identify Long-term Investment Vehicles

    While you enjoy doing what you are doing, you will not want to do it forever for money. At some point in your career, you will want to invest your income on projects that generates income passively. This will depend on your experience and a clear understanding of what you are investing in. Do your research each time you have free time and less work on your table. The result of this research is- you will have a better understanding of different investments and the price for each. Having this in mind will motivate you to work towards a goal.

    Meditate/Fast

    Most people don’t take this serious but it is the key. Commit your low seasons to meditation and fasting as this is the only path to enlightenment. Fasting cleanses your body and meditation cleanses your spirit. Renowned Hollywood actors take 8 days of dry fasting. This is one of the greatest challenge that you can give to yourself. Try this and thank me later.

    And that is it.

    If you need help to create and produce professional screen-cast video tutorials, let me know here.

    Until next time, bye and take care.

    You can follow me on twitter @cheptiony

  • Top 5 Things Every Client Looks at Before Hiring a Freelance Video Producer

    First, get this – most clients who hire freelancers remotely was once freelancers themselves. They have been on the freelancing business and they know how it works. In-fact, some are still freelancers at time of their search. 

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    So what does this mean? It means that they are aware of most things happening in the freelancing world. As a result, they have a clear picture of the kind of freelancer they want to hire. 

    Even those clients who have little on no experience in the freelancing business, they are clever enough. They paint a clear picture (in their job brief) on the kind of freelancer they are looking for. 

    So, how do you ensure that you fit into their requirements? Well here are top 5 things that they look at before hiring. 

    The budget 

    Every client, have a budget for any video that they want produced unless they are doing something new for the first time. So, send your quote based on their budget-don\’t over quote. If you feel their budget is not enough, break down your quotation indicating the cost of the \’add-ons.\’ This way, the client will make their decision based on the value they will get.

    Your proposal

    First, your client will share a brief of what they want. Your response to the same is what will determine further communication with the client. Make sure you address their problem clearly and propose how you are going to solve their problem. 

    Timelines  

    Most clients have a set timeline for any of their project. If they don\’t, you have to be clever enough to propose one. By having timelines, you will commit yourself to complete the project thus saving time and allowing you to work on other important activities. 

    Communications 

    We are living in a generation where we rely a lot on e-mail communication because of many reasons one being that we live in different time-zones. That being said, you should let the client know the best time that they can chat and communicate with you either via call or e-mail for prompt response. Many clients will opt to work with a freelancer who communicates promptly. 

    Revisions/Iterations 

    This is the last thing that the client will consider. So, to be on the safe side, be clear on the number of revisions you offer. Also, indicate how much you charge if the revisions exceeds the number of free revisions. You will still get the job without mentioning this last point. But just do it anyway, it might be the only thing you need to get the contract.  

    Are you are client? what are some of the things that you consider before hiring a freelancer? Share it in the comments below. 

    Till next time, bye and take care. 

    And if you need help with video or hiring a freelancer, you can request a free quote here.  

    Follow me on twitter @cheptiony