ASK & DISCUSS INDEX

8 years, 6 months ago - Marlom Tander

You don't need a formal plan. Formal plans are when you're modelling sales volumes vs costs. What you do need is to remember that you always need to be looking for new contracts. It's YOU they buy and this is the one role you can't pass to anyone else.

If you start to get more work than you can handle you need to have safe people you can call on to actually deliver the stuff.

They big decision point (grow or not) comes when you realise that your hands on involvement re filming is pretty much bear minimum, and you have to decide to stay small, or aim big.

Margins - what the pennies and the pounds take care of themselves.

Basically, so long as you get your quotes right and understand your costs, the margin you build in should be the margin you make.

8 years, 5 months ago - Alève Mine

You may be looking for this:
https://upload.wikimedia.org/wikipedia/commons/1/10/Business_Model_Canvas.png

But please don't emulate anybody.

8 years, 5 months ago - Ian Allardyce

Hello Shona,

I'm in a similar position with my company www.reallynicecontent.com but focus more on short-form brand content. Lots of clients and so I'm not sure whether to focus on myself becoming a better DP/Director, or step back and grow the company.

If you're looking for collaboration do get in touch. I'm fully kitted up with a Sony FS7, etc.

Best of luck, Ian.

8 years, 5 months ago - Glyn Carter

I think Marlom may be confusing a business plan with a cashflow forecast (which is only one part of a plan).

The business plan is going to look at marketing - what you produce, for whom, and how to let them know. It's going to look at suppliers, contractors, freelancers etc, not to mention competitors. It's going to look at management, and time commitments, and risks & contingencies, and growth targets. It's a useful thing to have because it helps you to be proactive rather than reactive. it helps you decide when you might want to turn down work, and to recognise when you need to do more promotion, or work in partnership.

The cashflow forecast puts dates and values onto all of that. It tells you what your overheads cost - and if you don't that, how can you quote properly? And if you don't qote properly, you end up underpaying yourself, and subsidising your clients. And apart from wages, what about profit-margins? A decent cashflow forecast spreasheet can be used to model (for example) how much work you need to beak even, and what reserve you need to cover illness and big costs like annual insurance and taxes.

I did all this a couple of years ago and I still refer to it to compare actuals against predictions, and see where that might take me in a few months time. I don't always like the answer. But sometimes I think, oo, I can afford to go to Cannes!

8 years, 5 months ago - Shona Charlton

Thanks everyone for taking the time to answer. I should clarify that the main reason I need a plan is because, being a working mum, Time is a precious commodity.

If I were to spend several hours promoting my business, instead of with my kids, it has to really count. I only have x amount of free hours and they must accumulate to a result. A business plan along with the cash flow forecast and marketing plan will give me the bigger picture.

Glyn is right in that it helps to be proactive, and Marlom is right in that clients are buying the "look and feel" of my work as a Director or Editor. So maybe I can't step back and be a Manager. But I could still plan ahead and train up a Dop or Producer.

And while you can't emulate or copy anyone since everyone is unique, it helps to know that Ian is in a similar position and has grown in a similar way.

Thanks again, fellow shooters :)