In this insightful discussion, Forrest Proctor, the creative force behind Epic Film and Photography, shares valuable insights on the pivotal decision-making process for aspiring videographers. Whether you're passionate about creating videos or aiming to turn it into a full-fledged career, Proctor delves into the pros and cons of two significant paths: launching your video production company or joining an established one.
Owning Your Own Video Production Company: The Pros and Cons
Total Ownership: The allure of being your own boss is undeniable. Owning your company means you have complete control.
Building a Legacy: You get to create something enduring, a brand that outlasts you, adding a sense of pride to your work.
Curated Branding: You can shape your brand, focusing on projects aligned with your interests rather than simply accepting assigned ones.
Flexible Hours: Enjoy the freedom to set your working hours and shoot at your convenience.
Business Responsibilities: Beyond the creative work, you'll need to handle the less glamorous aspects such as accounting, payroll, and overall business management.
Income Uncertainty: Unlike a steady paycheck from a company, owning a business means the responsibility to generate income and manage expenses falls squarely on your shoulders.
Overhead Costs: Hidden expenses like office space, equipment, licenses, rentals, and more can add up quickly.
Working for a Video Production Company: The Pros and Cons
Avoid Business Hassles: Skip the business side of things and focus solely on your passion—creating videos.
Assigned Projects: Enjoy the luxury of being assigned projects, with leads and strategies handled by the company.
Expense Coverage: The company typically covers expenses, from gear to other production necessities.
Collaboration Opportunities: Work with a team where others can handle aspects like writing, shooting, or editing, fostering a healthy collaborative environment.
Lack of Ownership: You won't own the work you produce, and your creations remain tied to the company.
Limited Flexibility: Set hours and potentially monotonous routines can be restrictive compared to the freedom of managing your own schedule.
Ownership Aspirations: If having ownership is a deep-seated desire, working for a company may not fulfill that need.
Ultimately, the choice between starting your own video production company and working for one boils down to personal preferences, skill sets, and long-term goals. Both paths are valid, and individuals may find fulfillment in different ways. Proctor concludes by expressing his personal inclination towards owning a video production company, emphasizing the meaningful legacy it can create.
In the end, there is no wrong answer—only a choice that aligns with your aspirations and values. As you embark on your journey in the videography realm, consider these insights to make an informed decision. And, as always, subscribe to Epic Film and Photography for a wealth of video content, ranging from weddings to commercials and documentaries. Peace.