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How to become a millionaire with your current video business

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Brent Dunn
How to become a millionaire with your current video business
on Aug 15, 2012 at 6:30:59 pm

Over the years, I've worn many hats. My video production business has brought in steady income, but as it currently is, I cannot see it becoming a multimillion dollar business with some major changes.

I've spoken with and listened to successful business persons that are millionaires and one thing they have in common is huge personal sacrifice.

Most have been divorced one or more times. Many miss out on seeing their children grow-up. They are probably at work more times than at home and many times travel weekly.

Having a business plan, vision, and path to growth also leads to making a conscious decision to give up a lot. Unless you win the lottery, these are things that have to be done.

If you are married, your spouse will need to have a clear understanding and be totally supportive of your endeavors. Many spouses say they support their mates at the beginning until they realize that they never see each other, then relationships can become sour. Having a spouse with shared vision and being married to someone what is also highly motivated to succeed, certainly helps.

I'm writing this mini article to share what many in the business already realize, but what newcomers fail to acknowledge. There is a path to riches, but is it worth it?

Brent Dunn
Owner / Director / Editor
DunnRight Films
DunnRight Video.com
Video Marketing Toolbox.net

Sony EX-1,
Canon 5D Mark II
Canon 7D
Mac Pro Tower, Quad Core,
with Final Cut Studio

HP i7 Quad laptop
Adobe CS-5 Production Suite





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Jason Jenkins
Re: How to become a millionaire with your current video business
on Aug 15, 2012 at 9:39:42 pm

A wise person once said, "...no other success can compensate for failure in the home".

Jason Jenkins
Flowmotion Media
Video production... with style!

Check out my Mormon.org profile.


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Rich Rubasch
Re: Or, How to make a small fortune
on Aug 16, 2012 at 2:08:46 am

How to make a small fortune in the video production business?

Simple.

Start with a large fortune.

Rich Rubasch
Tilt Media Inc.
Video Production, Post, Studio Sound Stage
Founder/President/Editor/Designer/Animator
http://www.tiltmedia.com


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Herb Sevush
Re: Or, How to make a small fortune
on Aug 16, 2012 at 1:36:18 pm

[Rich Rubasch] "How to make a small fortune in the video production business? Simple. Start with a large fortune."

Great line.

Herb Sevush
Zebra Productions
---------------------------
nothin' attached to nothin'
"Deciding the spine is the process of editing" F. Bieberkopf


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walter biscardi
Re: Or, How to make a small fortune
on Aug 16, 2012 at 1:41:42 pm

[Rich Rubasch] "How to make a small fortune in the video production business?

Simple.

Start with a large fortune."


That's right out of NASCAR. How do you earn a million dollars as a NASCAR owner? Start with two million.....

Walter Biscardi, Jr.
Editor, Colorist, Director, Writer, Consultant, Author, Chef.
HD Post and Production
Biscardi Creative Media

"This American Land" - our new PBS Series.

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Chen Wu Xin
Re: Or, How to make a small fortune
on Aug 19, 2012 at 7:37:57 am

[walter biscardi] "That's right out of NASCAR. How do you earn a million dollars as a NASCAR owner? Start with two million....."

if you are a business owner starting from scratch, then function as a start-up with the intention to scale easily and quickly, look for capital.

Could be done in other industries. Video production, most likely not, at least not quickly.

Walter, i won't make any assumptions about your revenue, but can i ask how many years ago did you open your first post house?


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Bill Davis
Re: Or, How to make a small fortune
on Aug 19, 2012 at 5:45:41 pm

Interesting thread.

My 2 cents is that creativity can be "leveraged" but not "scaled" in the usual sense.

A great creative work is produced once then duplicated and distributed widly for large returns. That's leveraging.

To "scale" creative effort, you need a system where you can add more "creators in order to produce more profits.

The closest example that comes to my mind is the recently departed Thomas Kinkade. He essentially tried to apply scaling principals to the art creation process filling retail stores with work that in some cases was done in large batch processes to his designs, but by contract painters and in some cases with minimal input to an individual painting by the artist himself - yet sold as Kinkade art.

He certainly sold a lot of work that way. But whether or not the business benefits of the scalable design hurt the artistic merit of the work will always be a serious question.

"Before speaking out ask yourself whether your words are true, whether they are respectful and whether they are needed in our civil discussions."-Justice O'Connor


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walter biscardi
Re: Or, How to make a small fortune
on Aug 19, 2012 at 6:51:59 pm

[Chen Wu Xin] "Walter, i won't make any assumptions about your revenue, but can i ask how many years ago did you open your first post house?"

I have nothing further to discuss with you. I'll deem all my company operations completely private and not to be shared with you from this point forward.

Have a nice day.

Walter Biscardi, Jr.
Editor, Colorist, Director, Writer, Consultant, Author, Chef.
HD Post and Production
Biscardi Creative Media

"This American Land" - our new PBS Series.

Blog Twitter Facebook


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walter biscardi
Re: How to become a millionaire with your current video business
on Aug 19, 2012 at 7:10:18 pm

I'm not sure if it'll make you a millionaire, but this is the three part series I created for the Cow a few years ago outlining my business advice for those getting into this industry. I've been fortunate to have this current company for 11 years and have expanded the company twice during that time. Soon I'll be able to write about an entirely new venture we're kicking off.

Yes, you MUST have a partner who believes in you whether that be your spouse, brother, sister, mother, best friend, whatever. Not necessarily a business partner, cause that didn't work for me in the past, but definitely some partner to help you on the path to success.

http://blogs.creativecow.net/blog/273/your-own-business-part-1-are-you-read...

http://blogs.creativecow.net/blog/277/your-own-business-part-2-setting-up-s...

http://blogs.creativecow.net/blog/300/your-own-business-part-3-running-buil...

Walter Biscardi, Jr.
Editor, Colorist, Director, Writer, Consultant, Author, Chef.
HD Post and Production
Biscardi Creative Media

"This American Land" - our new PBS Series.

Blog Twitter Facebook


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Bob Zelin
Re: How to become a millionaire with your current video business
on Aug 19, 2012 at 9:12:07 pm

I am not a multimillionaire. But if you are in this business - or any business - especially a retail business like a restaurant that may make you work nights and weekends, and holidays - if you are not willing to work your ass off, and sacrifice, then you will probably fail. I used to make a joke that I would love to open a pizza store one day (I love pizza) - but observing what is entailed in running a pizza store is HARD WORK - and unless you have that investor that will give you the cash for hiring a manager, and paying for marketing, you will be sitting in that pizza store day and night, never seeing your family - unless they work with you.

This applies to any business. I have the luxury of having a home office, and working out of a home office. And my wife cannot understand why I am always in my "home office" and not watching TV with her, or doing other "family" stuff.

The only reward of owning a business is money. You get to buy the nicer car, the nicer home, the nicer restaurants, but for that benefit, you WORK your behind off, day and night. And you suffer with every change in technology (or trend if you are in the restuarant or retail business). If you personally feel that spending lots of time with your kids is the #1 thing - then you should not open a business. I know someone very very well, who tries to do both - spend time with his kids at little league, etc. as well as run a successful business - from what I observe of his live - he will have a heart attach soon - no sleep will absolutely kill you.

You can't burn the candle at both ends. Some people are lucky, and figure out to hire a manager (that doesn't steal their business leads), and get to have both. But in small business, that is very rare - and our business is small business. Any post house - no matter how big - is small business.

Bob Zelin



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Rafael Amador
Re: How to become a millionaire with your current video business
on Aug 23, 2012 at 12:08:24 pm

If i have my own business is for not having any boss.
That's priceless.
rafael

http://www.nagavideo.com


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walter biscardi
Re: How to become a millionaire with your current video business
on Aug 23, 2012 at 1:48:04 pm

[Rafael Amador] "If i have my own business is for not having any boss.
That's priceless."


Agree 100%. I may not be getting uber wealthy, but we've built this from the ground up and it's something my wife and I are proud of.

Walter Biscardi, Jr.
Editor, Colorist, Director, Writer, Consultant, Author, Chef.
HD Post and Production
Biscardi Creative Media

"This American Land" - our new PBS Series.

Blog Twitter Facebook


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