The Greatest Cost in the Video Business is the Fifth “C”

It is always an honor to be invited to speak at a college, especially since I skipped college to start a business. When I am invited to speak to a video production or media class at a college I go in to it genuinely wanting to provide some insight to the video business and relevant information that will hopefully steer students in the right direction.  Nearly every time I get to speak to a high-school or college group of video production students I use my go-to, tried and true material. I go with a presentation that is conversation style and is intended to inspire those who want to work freelance or start their own video production company. My favorite presentation is what I call it the five “C’s” of video production work.  I present the five “C’s” as everything you need to start a video production career or business.

The First Three “C’s” of Video Production: Cars, Cameras and Computers

The first three “C’s” are pretty simple. To get started in the video production business you need at the very least, a car, a camera and a computer. Of course it’s there is a little more that goes along with each of these, but when you are just starting out you better have at least these three. One important point I always make about these items is that they are all depreciating assets. The things we need the most in video production tend to lose value quickly, especially if they are used frequently. In other words, to stay current and in business one needs to be acquiring new cars, cameras and computers every few years, in some cases even more often than that. 

The Fourth “C” is Expensive, but the Fifth “C” is the Greatest and Most Essential

The fourth “C” is the typical method for acquiring or financing these items. That is, of course, the credit card. I usually suggest getting one with a good rewards program. Then pay it off as quickly as possible or use the assets as collateral to obtain a business loan. Credit card interest is usually pretty high if you carry a balance. What comes next, after a fun discussion about what kind of cars, cameras or computers we are going to buy, is a simple question.  What is the fifth “C”? When I ask the students to guess the fifth “C” I tell them that it is the most important of all the “C’s” and also the most expensive to acquire. The suspense I can generate from this audience is a powerful presentation tool, as I have their complete and undivided attention when I explain that this is the key to their future.

It never fails. The youthful enthusiasm that comes out in the discussion over vehicles, video gear and digital processing power completely distracts and derails them from any thought as to how all of it would ultimately be paid for. The answer is, of course, what we are all looking for, whether as a college student or a middle-aged business owner. Purpose in life, and a way to make money doing what we love. The fifth “C”, and the most expensive and challenging thing you will need to start your video production business or career. The fifth “C” is the customer.

“They better know the answer now, I just put it on our website”

Now that I have written this out in a blog and posted this to our website, I expect every student in every class I speak in front of to know the answer to this question. But they don’t and they won’t, and the explanation for this is simple. These students spend too much time studying and not enough time learning. The classroom teaching method forces them to spend lots of time listening and very little time doing. In a lot of cases, especially with creatives, this is not an effective way to learn. I realize that everytime I see a few students dozing off during my speech.

The reality is that if an individual is going to pay a college to learn something then they should learn something that can be taught from a book in a classroom. Accounting and marketing are majors that are great for classroom and book learners.  These are also majors that would be great for those who want to work in a creative field but want a stronger resume. Sometimes this advice is not well-received, but I have been known to tell students they should major in marketing and minor in video production. 

“When you are money-poor and time-rich, do an internship”

The best thing a video production student can do is an internship. Find an opportunity to shadow a production crew, an executive in the media world or a business owner. Video production is learned in a studio and on-location.  Understanding how to run a business comes from working for someone who is running a business. Business is taught at a business and camerawork is taught in a studio. Life experience is gained from going out, seeing the world, and being a part of something significant. Some of the college students I speak to have not had the chance to do any of these things.  This is generally why a room full of young adults with three years of college and tens of thousands in student loan debt can’t guess the fifth “C”.

The fifth “C” includes all the market research, prospecting, selling and closing that goes along with finding freelance work or a full-time job. The most challenging part of the business is finding the customer, or in some cases, a full-time employer. It works either way. If there are students in the room that have no interest in starting a business and fully intend on seeking full-time employment in the media or video production business they too must understand this concept.  When I make these speeches my goal is to help the students see this challenge and begin to address it immediately, as I want them to be successful. I suggest an internship several times during my presentation as nearly every media studio or video production company will have staff members who have faced these challenges and overcome them.

The cost of finding a job may be nearly as great as the investment in their education.  And just like college you only get out of it what you put in to it. Finding the customer or finding the full-time job is a full-time job.  It requires research. It requires time. Quite honestly, it also requires money. When I speak to college students I remind them that the search for the first freelance gig or full-time opportunity requires time, gas, nice clothes, patience and more.

One of the biggest investments and frequently most underestimated is the internship. The internship is part of the cost of finding the job. There are some who might argue that the internship is nearly equally as important as the degree itself.  Students who do internships as sophomores or juniors or those who do multiple internships set themselves up for a much greater chance of post-college success. Shadowing or doing an internship early in a college career may help a student confirm that they are on the right career path.     

Personally I take issue with colleges that charge tuition for the internship credits. This topic may be beyond the scope of this blog post, but in an era of skyrocketing tuition costs why do colleges have to charge tuition when, in this industry, the students will intern and shadow job sites for free?  The student does the internship on his or her own time and the employer or business entity opens a shadowing opportunity at its operation solely for the benefit of the student. The school does nothing but lend its brand name. While that has some value, my position is that there should be no tuition charge to a student that is earning credit by shadowing without pay.

“When they are headed for Hollywood I have nothing to offer, except good advice that works anywhere”

Some of what I say in the classroom may be perceived as irrelevant to students who want to head off to Austin or LA upon graduating. Some students have no desire to work in corporate video production or stay in Ohio doing digital cinema or TV spot work. This is a young person’s business and I am certainly aware that to many of the students I seem pretty old. While it is true that I am closer to the end of my career that the beginning I love this business and am in it for life. I genuinely want to spend part of my work life supporting and advising those who want to be in this business.  While the students I speak to and the young vendors I work with have youth and ambition on their side, I have the freedom and security that comes from having everything a person could possibly want or need. How could a person who has three decades in the business and is free and flexible possibly relate to someone who is at the beginning of their career and fairly challenged? Why would I want them to listen to my advice? The simple answer is that I want every student, client, vendor and employee that is involved with our business, as well as every friend I have, to know the joy that comes with financial and lifestyle freedom. I want them to know the joy that comes from loving your job. When I walk in to the classroom or begin a discussion with a new intern they may see me as successful and inspirational or washed up and irrelevant. To me it doesn’t matter.  Except for the fact that I want all of them to gain from my experience and use it build a fun career and a life worth living. After all, I did it, and I did it without having to leave Ohio. I am certain they can do it too.