When to pull the triger and go full time?

James Strange · July 30th, 2008, 11:52 AM

Lots of good advice here.

I was in exactly the same situation last year. Id been doin weddings (30+ per year) for a couple of years but still had a 9-6 job (we work 9-6 here in the UK!! :) )

The choice to go full time weddings was a tough on for sure, the main concern, obviously was money.

Like someone else said above, I lived cheap, my inly expense was my mortgage and food (you'd be suprised how long you can survive on beans on toast and cereal).

As suggested above, put your prices up and monitor the bookings, thats what I did, thats what I'm still doing.

I left my 9-6 job last august, so i'm just about to hit the end of my 1st year on soley wedding videos as an income, Im still here, the bank hasnt repo'd my flat, so so far so good.

In short, do it, especially if your not happy in your 9-5 job.

Samples of my videos can be found on www.strangeworx.com

All the best

James

Carl Wilky · July 30th, 2008, 07:37 PM

Quote:

Originally Posted by James Strange

Samples of my videos can be found on www.strangeworx.com

Wow i must say, some of the locations you've shot James are just breath taking. Well done.

Ramesh Singh · July 31st, 2008, 02:45 PM

sorry duplicate.

Ramesh Singh · July 31st, 2008, 02:47 PM

Quote:

Originally Posted by James Strange

Samples of my videos can be found on www.strangeworx.com

All the best

James

May want to check your website, side menu doesn't seem to work in Firefox.

Now about "When to go full time?", in this down economy, I would be real carefull taking this decision. And we don't know how long it will last. I myself would wait for economy to pick up.

Yang Wen · July 31st, 2008, 03:23 PM

IMO, it is much more difficult to go full time doing wedding videography than photography.
#1 obstacle: The turn around time and work for each video gig is much more than photography.
#2 obstacle: Wedding videography is usually valued lower than photography.

Those two combinations = a good business plan it makes not.

Noa Put · July 31st, 2008, 03:45 PM

Depends in which country/area you live in if that will support your business if that is only weddings, I have found out some time ago that weddings alone doesn't cut it for me and I had to take on extra income providers, one of them is filming events for which I work together with an eventcoordinator. I also teamed up with an external company who delivers a product (it's some kind of chatbox with an unmanned camera for the guests to speak their wishes) that is very populair at weddings but also at companies or events. Those last 2 give me a more stable income while weddings, at least in Belgium can be very demanding and unstable in regards to bookings.
I'd say don't bet on one horse only but see what what more you take on, the more divers you get the better. You also might consider teaming up with other videographers that work alone to do bigger multi-cam events.

Laurence Scott · July 31st, 2008, 06:20 PM

To the original poster/author -
You should also look into getting in contact with your local SBDC [small business development center]. They have offices at all major colleges and universities and they have offices in most of the smaller colleges as well. Usually they're business start-up seminars are fairly expensive [I payed $10 to attend my last one] and they'll give you plenty of information and answers on starting your business. They'll even use the students that are majoring in business to conduct research on other videographers in your area, start up costs, licensing, financing, insurance and other areas you may not think of.

Nate Spencer · July 31st, 2008, 06:43 PM

I did computer consulting

1. Talk to an accountant. Get an LLC taxed as an S Corp in most states. This can lower the FICA/Medicare tax of 15.4%. You do this by lowering your salary. Get an accountant that specializes in small business screw the govt legally.

2. Biz and marketing plan.

3. Hang on to your job as long as poss.

4. Expect sleepless nights.

5. Market

I eventually went back to 40 hours in IT after losing a large client (they went out of business) at the birth of my 1st son. It depends on you.. I plan on doing this part time to help pay for some college for my boys and retirement for me.

July 30th, 2008, 11:52 AM	#16
James Strange Major Player Join Date: Jul 2008 Location: Glasgow, Scotland, UK Posts: 309	When to go full time? Lots of good advice here. I was in exactly the same situation last year. Id been doin weddings (30+ per year) for a couple of years but still had a 9-6 job (we work 9-6 here in the UK!! :) ) The choice to go full time weddings was a tough on for sure, the main concern, obviously was money. Like someone else said above, I lived cheap, my inly expense was my mortgage and food (you'd be suprised how long you can survive on beans on toast and cereal). As suggested above, put your prices up and monitor the bookings, thats what I did, thats what I'm still doing. I left my 9-6 job last august, so i'm just about to hit the end of my 1st year on soley wedding videos as an income, Im still here, the bank hasnt repo'd my flat, so so far so good. In short, do it, especially if your not happy in your 9-5 job. Samples of my videos can be found on www.strangeworx.com All the best James

July 31st, 2008, 06:43 PM	#23
Nate Spencer New Boot Join Date: Jul 2008 Location: Marion, IN Posts: 16	Not videos but computers I did computer consulting 1. Talk to an accountant. Get an LLC taxed as an S Corp in most states. This can lower the FICA/Medicare tax of 15.4%. You do this by lowering your salary. Get an accountant that specializes in small business screw the govt legally. 2. Biz and marketing plan. 3. Hang on to your job as long as poss. 4. Expect sleepless nights. 5. Market I eventually went back to 40 hours in IT after losing a large client (they went out of business) at the birth of my 1st son. It depends on you.. I plan on doing this part time to help pay for some college for my boys and retirement for me.

July 31st, 2008, 02:45 PM	#18
Ramesh Singh Regular Crew Join Date: Apr 2008 Location: Delhi, India Posts: 43	sorry duplicate.

July 31st, 2008, 03:23 PM	#20
Yang Wen Major Player Join Date: May 2003 Location: Chicago, IL Posts: 991	IMO, it is much more difficult to go full time doing wedding videography than photography. #1 obstacle: The turn around time and work for each video gig is much more than photography. #2 obstacle: Wedding videography is usually valued lower than photography. Those two combinations = a good business plan it makes not.

July 31st, 2008, 03:45 PM	#21
Noa Put Inner Circle Join Date: Jun 2007 Location: Belgium Posts: 9,510	Depends in which country/area you live in if that will support your business if that is only weddings, I have found out some time ago that weddings alone doesn't cut it for me and I had to take on extra income providers, one of them is filming events for which I work together with an eventcoordinator. I also teamed up with an external company who delivers a product (it's some kind of chatbox with an unmanned camera for the guests to speak their wishes) that is very populair at weddings but also at companies or events. Those last 2 give me a more stable income while weddings, at least in Belgium can be very demanding and unstable in regards to bookings. I'd say don't bet on one horse only but see what what more you take on, the more divers you get the better. You also might consider teaming up with other videographers that work alone to do bigger multi-cam events.

July 31st, 2008, 06:20 PM	#22
Laurence Scott Regular Crew Join Date: Jul 2008 Location: Allentown, PA Posts: 61	To the original poster/author - You should also look into getting in contact with your local SBDC [small business development center]. They have offices at all major colleges and universities and they have offices in most of the smaller colleges as well. Usually they're business start-up seminars are fairly expensive [I payed $10 to attend my last one] and they'll give you plenty of information and answers on starting your business. They'll even use the students that are majoring in business to conduct research on other videographers in your area, start up costs, licensing, financing, insurance and other areas you may not think of.