If you are reading this article, you might be new to business. If you’re currently figuring out which pieces of the puzzle go where in your video production company, then read on. This article will address the most common beginner mistakes when running a video production business.
It probably feels like you’ve just opened up a 10,000 piece puzzle of baked beans and everything seems a bit all over the shot. Which is perfectly normal to feel, by the way, before you think you are any different to everybody else.
So you want to make sure that you are eliminating as much of the misinformation as possible so you can quickly increase the likelihood of profit and building your business.
So below are 5 comparisons of the mindset behind where absolute novices usually are compared to the mindset that you have after being in business for a few years.
Situation #1 – Resolving Problems Within Your Business
Beginner: Chances are you will adopt a ‘hustle’ mentality where you assume that by doing even more work you will be able to get over your problem. Perhaps you think that if you just work that bit harder and with more intensity you can resolve an issue.
Experienced: Will give themselves a chance to think about the problem instead of increasing stress and worrying about it. By merely working harder on the problem doesn’t mean you can be creative with an answer.
Practical Tips: When you feel overwhelmed and you feel like you are hitting a brick wall, then take some time off.
That sounds counterproductive to begin with. However, the way our brains work, we need just as much time consciously thinking as we do not thinking.
The creative areas of our brain work in such a way that they produce the best results when they aren’t actively working on the issue at hand.
Ever wondered why you come up with your best ideas in the shower or whilst you sleep? Take a break.
Situation #2 – Lacking Productivity
Beginner: You will rush into decisions, make assumptions on issues at hand when you shouldn’t. When you’re trying to force ideas onto paper, it’s a struggle.
You have a mountain of work you want to get done and find yourself being extremely busy. But by the time the end of the day comes about, you feel that you have even more to do than you did at the start of the day!
Experienced: There is a clear distinction between busy and productive.
Busy tasks are the ones that aren’t helping you produce a solid foundation – think updates on social media, lots of pointless meetings, calls when you could have emailed, etc.
On the other hand, productive tasks are those which are needed to be accomplished right now to push your business forwards.
Practical Tips: Writing out a list of things to do each week divided into ‘essential’ and ‘later’ is a powerful tool to distinguish what is of most use to you right now. This will give you more focus.
If you are just starting up then chances are your main priorities are going to be simply lead generation and closing sales. So make sure you spend the majority of your time on this, as it’s one of the main beginner mistakes.
Useful Link: Check out the Top 10 productivity hacks to help improve your filmmaking.
Situation #3 – Low Energy
Beginner: We’ve all been there. Maybe there’s a project you have been working extra hours on. You struggle to complete it by the deadline. The later your nights, the more tired you become.
This results in you reaching out for convenient foods, sugary snacks and caffeine just to keep yourself going.
As time goes on you find yourself making rushed decisions and errors are commonplace.
Experienced: There are numerous decisions which you have learnt to make. Delegating work to others to help ease the workload is key. Even if it’s favors from friends and colleagues for free.
However, you have learnt the power of the 20 minute nap, which will help give you a bump in energy. Also, you prepare your food in advance so you avoid reaching, for the bad stuff like those aforementioned sugary snacks.
Practical Tip: Start taking a 20 minute nap in the middle of the day. This will help give you extra energy.
Make a list of freelancers/colleagues who could help you with simple time consuming tasks. Don’t be afraid to delegate.
Allocate time in your week to make your food in advance. You can easily cook a week’s worth of food in one evening.
Useful link: Curious about learning how to hire other people for your production company? Learn all about hiring people for your business.
Situation #4 – Feeling Stressed And Burnt Out
Beginner: Keeps working despite feeling run down. You become ill more and more often resulting in a decrease in work output.
However, the naivety of understanding work/life balance makes you continue down this path, only making problems worse until you are forced to have a significant amount of time off work.
Experienced: Understands and appreciates that business won’t be removed if they need to take a day off.
If your body doesn’t function then your business won’t. There will always be times when you need to work overnight and go a bit crazy. But understand that this will never work long term.
Practical Tip: Listen to your body and energy. Sadly, this often takes experience to understand. If you’re a newbie, you will inevitably suffer from this at some point.
It’s important to really be mindful of what you are doing and how you are recovering each day. Stress will simply make things worse. It won’t help your business, so you need to respect that fact.
Useful link: Checkout this link to read more about burnout and how to avoid running yourself into the ground.
Situation #5 – Decision Making
Beginner: You make rushed decisions based upon naivety and assumptions.
You have a business model in your head which you are currently trying to build and not listening to what your customers are saying.
Perhaps you are making decisions based on what you want to believe is best rather than what is best.
Experienced: This is where mentorship/coaching can be incredibly profound and useful.
As much as you may want to do something, it may not be the right time or even appropriate for your market to make your business grow.
Decision making is never taken in the spur of the moment, because you know feelings may trump facts. And that isn’t going to be necessarily of use to your business success.
Practical Tip: Get a business coach or a network of business colleagues, like a Mastermind group.
That way you can bounce ideas at them and listen to their perspective. This is positive, as it’s an outside opinion who isn’t emotionally attached.
Situation #6 – Knowing When To Put Your Foot Down And Scale
Beginner: Maybe you have a nice income built. So you decide to put your foot down and build more systems into your business and try to scale upwards.
However, doing this too quickly and without the right indicators can lead to expand too quickly, causing you to lose revenue and time.
Experienced: Creating a foundation in business takes time. Gaining customer trust and satisfaction isn’t an overnight job, so realistic expectations need to be made.
You understand what playing the long game means and scaling up isn’t even considered until you meet relevant business Key Performance Indicators (KPIs).
Practical Tips: This takes experience. It can’t necessarily be taught. But again will be learnt easier when mentored under the right coach, as they will help keep you calm and patience.
Having someone to play bad cop is essential when it comes to aggressive scaling.
Hopefully you can relate to some of the above points. Starting up a business is stressful and you are not alone.
Building a business involves a lot of trial and error, experience, time and energy to perfect. However, remaining motivated and focused will allow you to succeed and avoid the beginner mistakes mentioned here.
As usual, please share your thoughts, opinions and any tips and strategies you have used which could help others in the comments below. Good luck!