Anyone Can Now Start A Film And Media Company. So How Do You Win?
In the past, you needed a massive budget if you wanted to start a film and media company, but in the modern world, that’s no longer the case. The amount of cheap tech out there means that you can usually begin one with around $4,000 - not much when you consider what it used to cost.
The weird thing is that virtually nobody knows about this opportunity. We still have countless people carrying on working in their dull day jobs, not realizing that firms want to pay them for their creativity.
Film and media companies are much more fulfilling than your average work. You’re not going into the office for a paycheck for filling out Excel spreadsheets. Instead, you’re doing something artistic for clients. And, usually, they’re willing to pay you more money for the privilege.
There are all sorts of opportunities for entrepreneurs out there who want to get into this line of work. The ultimate goal for many is to create a company with a couple of dozen people in it, regularly churning out videos for clients.
But how do you get a company like this off the ground? What practical steps do you need to take before you begin raking in cash?
Flesh Out Your Business Plan
Many people go into the film and media business without much of a plan for what they’re actually going to do. They have a general sense that they need to make short films for companies, but they don’t specify any details. And that’s a problem.
When it comes to the film and media industry, you need to have a niche. You need to be the guy people go to for a specific type of project. Perhaps you’re the world’s leading expert for using animals in advertising. Maybe you have proficiency in animation or editing effects. Whatever it is, you should build your business around the thing you do best.
Think carefully about your strengths and sell those. Don’t get into the habit of believing that you need to work on your weaknesses continually. That’s not where you can offer value. The best companies double down on the thing that they do well and screw the rest.
Fleshing out your business plan is a significant driver of your overall strategy and output. The more ideas you can put down on paper, the better off you’ll be. Narrow your focus, do SEO to gain traction for specific keywords and tailor your response to market needs.
Raise Money For Technology
Film-making technology is now so much more advanced than it ever was in the past. Companies no longer need to spend thousands of dollars on industrial-grade equipment. Instead, it’s all pretty much do-able using cameras, drones, and Apple notebooks.
If you look at sites like drdrone.ca, you soon discover how easy it now is to build film companies. The technology now exists for crews to collect visuals in the field, automatically upload them to the cloud, and then edit them when they return to the office. There’s no need to lug big reels of film around. It’s now so much easier than that.
Raising money for technology used to be a challenging exercise. But now it is the sort of thing that you can do in a matter of months if you have a reasonable income.
You can also apply to VC and various government programs for grants. But that all depends on your current position. You may be able to get going without outside help.
If possible, buy equipment second hand to avoid the initial depreciation. You’ll increase the salvage value versus the upfront price, assisting with your cash flow.
Create A Distribution Strategy
Getting involved in the filmmaking industry without a distribution strategy is a recipe for disaster. Digital technology means that anyone can now start a film business. But it also means that distribution channels are flooded with content according to raindance.org.
This part is where you need to have an “edge.” You might be a highly competent filmmaker. But if you don’t have a content distribution strategy that beats your rivals, then you’ll struggle to get your enterprise off the ground.
The best route is to work through existing company channels. You want to present yourself as a filmmaker for specific industries. This way, it makes sense for you to attend sector conferences and distribute tailored marketing material. You don’t actually have to focus exclusively on one industry. You just need to make sure that it seems like you do. Create a bunch of mirror sites if you need.
Anyone Can Now Start A Film And Media Company. So How Do You Win?
