Passion Vs Business & the Future of CGC | Creatives Grab Coffee 50
In this milestone 50th episode of “Creatives Grab Coffee“, hosts Dario and Kyrill from Lapse Productions dive deep into the state and future of their business and the broader video production industry. From discussing the challenges and emotions tied to running a production company to offering tips on diversifying business lines and understanding scalability, this episode is a goldmine for anyone operating in the video production business world.
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Timestamps:
- 00:00 – Intro
- 02:15 – Episode Begins
- 03:18 – Patreon
- 05:16 – Sponsorships
- 06:27 – Where we are right now as a Business
- 07:12 – The cost cutting state in Toronto
- 09:40 – Our current focus and benefits of CGC
- 11:43 – Patreon Benefits
- 13:40 – Falling out of Love with the Business
- 14:04 – Kyrill’s Falling Out
- 15:37 – Dividing up Roles in your Business
- 16:41 – Sometimes you have to Keep the Creative Team Separate from the Business Team 18:36 – Dario’s Falling Out
- 19:56 – Production Companies are not As Scalable as Product-Based Businesses
- 23:35 – Figure out Why You’re Getting into this Business
- 24:34 – How you have to Scale your Business with Rupert From Perspective
- 25:59 – The Business is Reliant on Us Being Actively Involved
- 27:36 – Sponsors
- 28:40 – Future Segment: Can you Manage Unexpected Demand as a Production Company? 32:40 – Talent Availability is What Determines a Business’s Potential for Growth
- 34:19 – How to Hire for Busy Seasons
- 35:36 – Can You Have a Diversity in your Business Lines?
- 37:03 – Offering Different Services but to the Same Clients isn’t a Good Way to Diversify 40:45 – Is this A Common Concern in this Industry?
- 42:29 – Are you Jumping into this Industry for the Money? You have to Consider that.
- 45:59 – Making Your First Money off of Video.
- 48:34 – Next Steps with CGC
- 51:09 – What Would You Like to See on the Show? Benefits of Being a Patreon Supporter 54:47 – Some of our Favourite Recent Topics Discussed on the Show
- 55:32 – Want Bookings, Not Retainers with Zach from Mileshko
- 59:02 – You Need to Do Passion Projects Annually to Strengthen Your Creativity with Stuart from Chuck Media
- 01:00:00 – Outgrowing your Client Base is Natural over Time with Thomas from Offbeat Films
- 01:02:19 – Conclusion
- 01:06:04 – Getting Mugs for the Show. Next Sponsor?
- 01:09:41 – Outro
Key Takeaways:
Passion vs. Business Realities:
Both Dario and Kyrill share personal insights about moments when they fell out of love with the business, highlighting the importance of dividing roles and keeping creative teams separate from the business teams.
Scaling in the Video Production Business
This industry is unique in its scalability challenges. Unlike product-based businesses, production companies face limitations, making it essential to understand why you’re entering this business.
Diversification Dilemmas
Offering different services to the same clients might not be the best diversification strategy. Talent availability plays a crucial role in determining growth potential, and hiring for busy seasons becomes vital.
Adapting to Market Dynamics
The discussion around outgrowing client bases over time and the importance of continually revisiting and redefining service offerings highlights the ever-evolving nature of the business landscape and the need for production companies to remain adaptable.
The Future of CGC
As the hosts hint at what’s next for “Creatives Grab Coffee”, they emphasize the importance of community feedback, Patreon benefits, and even tease upcoming swag like show mugs.
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