Key Lessons for Video Production Companies | Creatives Grab Coffee 2

Welcome to Creatives Grab Coffee, a podcast on the business of video production, hosted by Dario Nouri and Kyrill Lazarov from Lapse Productions.

Our goal is to make the video production industry smaller by creating a sense of community. Whether you are a creative, an entrepreneur, or a professional there is knowledge for you to learn. Join us as we have industry professionals from around the world come on the show and share their insights on the industry and business. Welcome to Creatives Grab Coffee. Welcome to Video Production.

This episode we’ll be talking about key lessons we learned running a business. We’ve been operating LAPSE for 5 years at this point. In those 5 years there are many lessons we’ve learned.

We don’t want to spoil the entire episode for you but here are some that we learned:

1) Learn when to say No: We’ve had several situations happen where there were many undefined variables in the project. Things like extremely short timelines, uncertain timeframes, uncertain budgets, too many differing ideas about the purpose of the project or constantly changing purposes for the project, etc. These were all red flags that should have signaled to us that we should not take on the project. However, at the time we did not have enough experience as business owners to know this so we undertook those projects and each time we did it resulted in a negative experience for us.

2) Get yourself an accountant: This is something that is imperative if you are a business owner. A good accountant will make sure your books and records are all in order and they will also help you save money. This is also a good way to delegate your tasks that way you have more time to focus on growing your business.

3) Every client is different: In the video production industry, you will not find identical clients and so you need to treat each client differently. This is mainly due to the fact that most of the time you will be dealing with clients in different industries and even then they might be serving different niches within that industry.

4) Watch the episode this unlock this one!

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Produced by LAPSE