5 Reasons You Haven’t Succeeded…In starting your video production business
Being a content creator seems like it’s all fun and instant profit on the outside. One viral hit, one big stream, one day at a time and you’re in it with the big leagues. So why hasn’t it happened yet? Whether you’re a classical pro doing freelance video production or a new web startup trying to sell yourself and your skills in front of a camera there’s a limit to how far you can go before you run out of options and wonder: When is it My Turn? Success is not a guarantee, and everyone needs some help sometimes.
Here are 5 reasons why, despite it all, you haven’t reached that point yet.
1. Lack of Commitment to a Niche
Being a general “do-it-all” kind of business is the first step to being a failing business. Niches are where the real money is made and where high-value clients are waiting. If you split your focus between too many avenues and niches, you won’t develop skills, relationships, or networks within a familiar marketplace. Stick to one thing and master it, because clients want to work with the masters.
2. No Marketing Investment
Marketing is part of business, and like all parts of the business, it costs money. There is no free lunch and no such thing as overnight success. Blowing up on Twitter or Instagram doesn’t translate directly to sales; it translates to replies and spam notifications. You need to spend money to increase your skills, equipment, portfolio and reach, and that investment might not return immediately, but every dip gets bought.
3. Didn’t Build or Maintain Systems and Processes
Most people want to work on their own because it means not having a boss. That’s not true. Working alone means you have to be the meanest, strictest boss you’ve ever had. You need systems and processes, orders and schedules that are always met. Having a system means you have a method that can be improved; it’s a skill you can master that will visibly increase your production over time.
4. You Want Creativity over Profit
The number one priority of any business is to stay in business by doing what needs to be done. If you made a business doing what you want, and what you want isn’t what people are buying, you’ve already messed up. Doing what you want is good and worth exploring, but not at the cost of your livelihood. Owning a business means sacrifice, and that might have to include your vision. If that’s more important, you should find someone who appreciates your vision and work for them.
5. Dunning and Kruger Have some Words For You
The Dunning-Kruger Effect is an observation that over time as a skill is practiced, the person will achieve a greater understanding of the field until a point where they think they know more than most. This peak is where some people decide to stop learning and practicing, and it’s not even a third of the way into the chart. After that comes a hard drop where you realize that, after the introduction is out of the way, you have a TON left to learn, and it takes a long time to get back up.
