Ways to increase revenue for your small business for Production

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hey guys welcome back to the channel it's ross here and today i'm going to be talking about how to make 10k per month for your video production company now if you're watching this video then chances are you're probably not making that right now so i'm going to share with you some of the reasons why that's probably not happening and what you can do about it to make sure your business becomes successful and you start turning over a decent amount now a very quick background to me my name is ross welch and i'm the owner of perspective studios a video production company based here in the uk and within a couple of years i grew the business from a desk in my parents living room to owning a studio employing a team of people and working for global clients all around the world on the back of this i've since started multiple businesses and i now am the owner of the perspective academy an online coaching platform that helps other video production company owners or videographers grow their businesses and achieve their goals one of the strategies i'm going to be sharing with you today is something that a lot of business owners really struggle with and one of the most common issues that we see through the academy so grab a notepad smash the subscribe button we would really appreciate your support in helping us grow our community and let's get started now depending on where you're watching from you might be thinking 10k pounds or 10k dollars obviously with the conversion rate there's there's some kind of gray area there but the principles i'm going to teach you are exactly the same and what you should be using to help scale and grow your business but the reason that a lot of people aren't able to achieve this is simply because they work on project to project when we're running our businesses we can be very focused on what's coming through the door or the emails and and the day-to-day runnings of the business and when you fail to kind of think about the future and take a step back from the day-to-day runnings of your business and kind of plan for that future it becomes this infinite loop of making a sale doing the work moving on to the next client and that's the key problem here a lot of video production company owners or people that are starting out in videography and filmmaking focus on the work that's either coming to them or just per project they never really spend too much time thinking about how they can capitalize on that client and keep that client coming back to them or at least increase the overall spend of that client one of the ways we've done this is through an rcp system and i've got a whole complete training on the rcp system that i will link for free in the description of this video the training is about an hour and a half long so i'm not going to go into loads and loads of detail about it right now but it's in essence a retainer system that you can set up with clients that means that they pay you regularly every single month and you provide some content in return for that monthly payment now the monthly payments can range from a thousand pound to five thousand pound plus they the length of the contract itself can range from one year to five years for instance we've got over 10 clients on these retainer packages all at various different levels and that's how we are able to create a predictable income to our business a consistent cash flow that we know that we can grow our business because we've got the guaranteed money coming in now we're only able to do that by simply thinking about every new client that comes through the door and how we are then going to work with that client for the longer term to achieve all of their goals and that's what it comes down to if you can understand the goals that a business you're working with is trying to achieve you become so much more valuable because you can provide so many more solutions to their problems i've mentioned this in a couple of videos previously as well and that's because it's a really important factor that a lot of people don't think about as creatives we focus on the creative side of filmmaking and not so much on the business side and unfortunately it's the business side that's going to make you 10k a month and more it's not necessarily the creative side a little caveat there the creative side will keep companies coming back to you ultimately if you charge a lot and you don't deliver on what their expectations are then yes they won't come back to you but a lot of people fail to acknowledge the business side of things so when they do work for people they create a really cool video and that's it thank you bye i guess i'll hear from you when you next want a video moving forward what we do is we run a very simple strategy whenever we work with a new client we ask them and we listen and and i know listening is it a strategy i don't really know i feel like it's something that people should do but they actually don't people are sometimes so eager to talk that they're not actually listening they're just waiting for their chance to jump in as business owners what we need to do is when we're in that meeting we need to ask them what goals are you trying to achieve what what growth are you managing within your business where are you trying to take your business to at the moment and note all of these things down what you're then going to do is take what they've said and then start to provide solutions to those problems and inevitably video is a huge solution if they want to make more sales that's a solution if they want to keep people on their website or on their facebook page for longer and increase engagement video is a solution to that problem if they want to do a recruitment campaign because they need more staff working for their growing team video is the answer to that problem if they want to handle people's objections on their frequently asked questions page objections about well you're very expensive or what do i get when i get a loft conversion then create a video for that video is the solution but they won't necessarily draw these connections themselves it's down to you to listen to what they're looking to do with their business and provide all these solutions you instantly within a matter of minutes become more valuable to that customer because you've shown that you understand exactly what they are looking for and more importantly how you can help them now this strategy alone is a great way for you to get them through the door often businesses will then just focus on one or two videos or one project to begin with but while you're on the set you can then start to talk about those other plans whether or not they've thought about those things anymore and whether or not those things will come to fruition if they want those other videos in the next month or if they're considering those other videos for perhaps sometime next year or a long time in the future you can get a gauge on whether or not they're a right fit for something like the rcp system a retainer model that perhaps if they want lots of content throughout the year you can sign them up to one of these plans or at least in essence you can give them some kind of deal or offer look if you book five projects with me in the space of this year i will give you a 10 discount on the final video project or even more to make it more desirable it's thinking about your future growth and your relationship with that customer that's the most common issue we find with most video production companies and freelance videographers is that they it just escapes their mind they're focused on the creative and what they need to do to create the best video which is great but they sometimes forget about what is this future relationship going to be with this business it costs you so much more money and time to speak to new businesses and outreach and speak to new businesses and bring in a new bit of business than it does to keep an existing client and if you can keep that existing client coming back to you time and time again every single month and paying you regularly every single month on one of these rcp systems then that is absolutely game changing if you're charging a thousand pound a month you only need 10 people you're effectively going to be working around about 10 to 15 days a month for that money so for 10k a month 120k a year is it worth working 10 to 20 10 15 days every single month for that i'd probably imagine for most of you the answer to that is yes so consider something like an rcp system but at least at minimum i want you to take away from this video is to think next time you're talking to someone next time you're on set start to think about how you can help these businesses further and don't just keep those ideas in your head express them have conversations with them are you looking for more videos in the future are you looking to have a video on every single page of your website i've been looking at your website recently i know it hasn't got much videos on it do you think it'll be a really engaging way to create a video for your website to then get customers to want to book a meeting with you as a business or all of those things once you can start providing value and start thinking and coming up with strategies on how you can help them achieve their goals you will honestly start to sign so many more clients then just continually repeating that process just instead of doing it with a new client every time you're doing it with the existing one every time you go on some projects with them every time you're on set just get talking to them you know what are the future plans have they changed at all what other ideas can you come up with that can then mean that they book in more projects with you ultimately that's going to increase the overall spend with you as a video production company and very very quickly you will be able to scale your business to 10k a month minimum especially if you're using something like the rcp system make sure you check out that training as well it's completely free to do so you've got nothing to lose as is hitting the subscribe button so many people aren't subscribed that watch the videos and loads of you watch it through to the very end so just hit the subscribe button it lets us know we're doing a good job it gives us a purpose to make sure we keep providing valuable content we're trying to give away as much valuable content for free as possible most people would make you pay for this stuff so please make sure you hit that subscribe button leave a comment i reply to absolutely everyone as well and why not check out this video while i'm here this video is all about starting a video production company and growing it to that next level things that i wish i knew at the very start and would have accelerated our business growth so much quicker tons of actionable valuable information so flick over a new page on your notebook click this video and go and check it out until next time peace