![Are You Charging Enough? [2023 Video Industry Rates Survey] EP #311 - Den Lennie](https://is1-ssl.mzstatic.com/image/thumb/Podcasts123/v4/12/1d/1d/121d1d0b-b57f-9801-84c1-d6032c1e7e79/mza_8333672636534057617.jpg/250x250bb.jpg)
Episodi
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Dive into this enthralling episode of the 'How to Scale a Video Business Podcast' with Den Lennie. Experience a captivating journey from humble beginnings in 2009 to the realization of a dream lifestyle in Australia.
This episode is a treasure trove of insights on balancing entrepreneurial aspirations with personal goals, the nuanced challenges of business growth, and the art of aligning your work with your values.
Join Den as he offers a candid, personal narrative filled with lessons and inspiration for entrepreneurs at all stages of their business journey.Here's a sneak peek of what you'll hear:
Beginnings and Dreams: Reflections on the business's early days in the UK, emphasizing the perseverance required to achieve long-term goals.
Entrepreneurial Challenges: Discussing the stark realities and unexpected challenges in the initial years of business and how to navigate them.
Decade of Evolution: Insights into the business's growth and maturation over 10 years, focusing on efficiency and quality.
Future Plans and Work-Life Harmony: Strategies for reducing Den's day-to-day business involvement to achieve better work-life balance.
Defining Success: Exploring the concept of a vision board and personal definitions of success.
Australian Adventure: The tale of moving to Australia and the journey towards buying the dream home.
Strategic Property Decisions: Tactics used in buying and selling properties, including leveraging the same agent for continuity.
Value-Aligned Business Practices: Emphasizing the importance of aligning business operations with personal values and goals.
Upcoming Events and Podcast Pause: Announcing upcoming client events and a brief break in the podcast schedule due to the house move.Support the showConnect with Den on LinkedIn https://www.linkedin.com/in/denlennie/
Get more great resources over at https://www.denlennie.com/ -
In today’s episode, Den delves into the critical topic of gear acquisition syndrome in the video production industry. With the allure of Black Friday deals, he shares valuable insights on the importance of prioritizing business and personal growth over expensive equipment purchases. Drawing from his experiences and discussions from the VBA Elite Mastermind group, Den provides practical advice and strategies for video business owners.
Investment Focus: The importance of investing in business growth and personal development instead of accumulating equipment.
Quality vs. Cost: A comparison of different lighting brands like Aperture and Nanolight, highlighting the balance between cost and quality.
Business Growth Strategies: Den shares strategies for building a successful video business, including saving profits, investing in marketing, and learning sales techniques.
Mentorship and Learning: The value of mentorship in business, based on Den's own experience with a mentor and his investment in personal growth.
Client Case Study: Discussion of a challenging situation with a client, underscoring the importance of risk mitigation and problem-solving in business.
Exclusive Offers: Announcement of two special offers - a half-price entry to the uplevel program and a sales training program named "Organic Sales Machine."
Sales Training Program: Details of the sales training program, including LinkedIn optimization, lead generation, quoting for profit, and cash flow management.Support the showConnect with Den on LinkedIn https://www.linkedin.com/in/denlennie/
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In this episode, Den Lennie addresses the challenges of sales in the video business, emphasizing the need for a consistent mindset and habit formation.
Sales Mindset Challenges: Discussing consistent sales approaches and habit formation.
Key topics include the role of CRM tools in managing client relationships and tracking leads, strategies to combat sales slumps, and the power of community support. Insights from VBA members highlight practical approaches to maintaining a vibrant sales pipeline and the importance of peer advice in navigating business hurdles.
CRM Benefits: Exploring various CRM tools for client tracking and lead management.
Navigating Sales Downturns: Tactics for overcoming inactive periods in business.
Sales Pipeline Management: Techniques for nurturing and tracking sales opportunities.
Community Insights: Member experiences and peer support for business challenges.Support the showConnect with Den on LinkedIn https://www.linkedin.com/in/denlennie/
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This episode is a candid exploration of the challenges and triumphs in the video industry, client success stories, and Den's personal journey of balancing professional ambitions with personal well-being. Whether you're a budding videographer or an established entrepreneur, get ready for insightful strategies, real-life anecdotes, and practical advice on thriving in the ever-evolving world of video business.
Return from Hiatus: Understanding the reasons behind the podcast's recent break and how to manage burnout.
Reality of Business Growth: Insights into the practical challenges of scaling a video business.
Personal Preferences: Why Den prefers audio podcasts over other content formats like YouTube videos.
Success Stories: How Den's clients are achieving remarkable results through the Video Business Accelerator program.
Niche Focus: The importance of focusing on a specific niche for business growth and client satisfaction.
Life Updates: Sharing Den's personal experiences with moving house and the importance of family time.
Business Philosophy: Balancing business growth with personal life and happiness.
Building Client Relationships: Strategies for creating lasting partnerships and introducing subscription models.
Addressing Burnout: The importance of recognizing and managing burnout in the entrepreneurial journey.
Looking Ahead: Future plans for the podcast, new website launch, and the free community resource for videographers.Support the showConnect with Den on LinkedIn https://www.linkedin.com/in/denlennie/
Get more great resources over at https://www.denlennie.com/ -
Hey there, fellow creators and business enthusiasts! 🎥
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In today's episode, we're diving deep into the real-talk territory of business partnerships - especially why going into business with someone isn't necessarily the golden ticket to success.
Ever found yourself wondering if you should join forces with someone in the hopes of making your business boom? Before you take that leap, lend an ear to some invaluable advice based on firsthand experiences. In this episode, I share insights from my journey, painting a realistic picture of what partnering with another company truly entails.
I recount my days in London, where a mutually beneficial agreement with another production company laid the foundation for a successful collaboration, without the formalities of an official business partnership. This casual yet respectful arrangement had us bringing varied projects to each other's tables, fostering trust and flexibility while keeping our individual businesses flourishing.
Walk with me as I break down a real-life example from a recent coaching call, sharing some golden nuggets on how to negotiate better with other production companies without getting into an official partnership. We're talking about wearing your producer hat and getting into the nitty-gritty of budget discussions, quote preparations, and fostering relationships that are mutually rewarding.
And remember, when it comes to business and negotiation, it's a messy arena. You're not just crunching numbers but also building partnerships where compromise and collaboration lead the way. I share some of my own tales, working with big names and how James and I successfully maneuvered through various projects, maintaining a respectful agreement that worked wonders for both of us.
So, if you're ready to foster relationships that are not just profitable but also harmonious, this episode is for you! Hit play to learn how to negotiate better, forge meaningful connections, and create a win-win situation in the industry without getting caught in the formalities of an official partnership.
And as always, if you find value in this content, please do like, subscribe and join our free community through the link below. We've got a treasure trove of resources waiting just for you!
Here's to building businesses that thrive on mutual respect and collaboration, rather than rigid partnerships! 💼🤝Connect with Den on LinkedIn https://www.linkedin.com/in/denlennie/
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Ever wondered how to accurately price your video projects? Dive into today's episode where we break down the magic behind the pricing calculator used in the VBA. This tool has been a game-changer for us, helping itemize and streamline our pricing process. From pre-production, production to post and expenses – we discuss it all. 🎬
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You might sometimes feel the pressure of the market or Uncle Bob saying his DSLR does wonders for almost free, but knowing your worth is essential. We chat about translating the video production process into terms your clients will understand and valuing your expertise at every stage.
Not only will we dissect the pricing process, but we’ll also explore how to communicate value, deal with budget constraints, and anchor the worth of your work away from casual hobbyists.Connect with Den on LinkedIn https://www.linkedin.com/in/denlennie/
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Ever felt like you're stuck in a never-ending cycle of getting TOO busy with work and neglecting the growth of your video business? I've been there!
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In today's episode, I'm sharing a clip from a live training call where I dive deep into this exact challenge. We chat about the balance of handling client requests while still being the driving force behind your business. And trust me, every video business faces this, whether you're earning thousands or millions. So let's navigate these tricky waters together. 🌊Connect with Den on LinkedIn https://www.linkedin.com/in/denlennie/
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Hey there! Ever caught yourself neck-deep in tasks that you KNOW aren't the best use of your time? 😅
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Today, we're diving deep into the game-changing concept of the 'effective hourly rate' and how you can leverage other people's time to optimize your day-to-day operations. You'll get a peek into a recent coaching call where we hashed out when to DIY and when to bring in an expert. 🚀
Plus, real talk on some common daily tasks (like house cleaning and even cooking!) and if they're truly worth your valuable hours. 🕒
Get a notebook ready, because we're also touching on the nitty-gritty of evaluating your past year's business activities. Yep, it's a reflection session, but don't sweat – we'll guide you through the tough bits. By the end, you'll have a clearer sense of where your time goes, and how to ensure you're always getting the bang for your buck!Connect with Den on LinkedIn https://www.linkedin.com/in/denlennie/
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Hey there, aspiring videographers and business enthusiasts! 🎥
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In today's episode, we're diving into the real struggles of transitioning from a freelance videographer to running a full-scale video business. It's not all glitz and glamor; it's about making tough choices, understanding what shoots to take on, and finding that perfect balance between doing what you love and growing your company.
Join me as I guide one of my clients through a coaching session, revealing the ins and outs of evaluating projects, when to outsource, and the exciting opportunities that lie in those golden business environments. Whether you're all about the travel or cozying up with ribs and potential clients, this chat's got some invaluable tips for you. And guess what? We even uncover the secret to transforming from a hands-on technician into a strategy-loving business owner. 🧠💼
Are you feeling trapped in the technician realm? Wondering how to scale your business without losing your creative spark? Or perhaps you're dreaming of being the dominant service provider in the U.S. Then, you won't want to miss this one!Connect with Den on LinkedIn https://www.linkedin.com/in/denlennie/
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Have you ever wondered about production fees and whether you should charge them on your video projects? In today's episode, we're diving deep into the production company fees.
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Whether you're a one-man band or running a full-fledged production company, understanding production fees is essential to pricing your projects correctly and making more money. We'll talk about what production fees cover, why they're vital, and how to articulate them to your clients.
Spoiler alert: It's probably easier to charge a fee on a 15K project than a 5K project, but hey, there's no reason you shouldn't try!
From line items to margins, office expenses, and even justifying the cost of your filmmaking addiction (trust me, I know the struggle), we'll cover it all. And I'll take you through an example of a real conversation I had with a client about production fees. It's all about being fair and transparent, providing excellent service, and making sure your business thrives.
Whether you're looking to fuel your equipment habit or simply optimize your expenses, this episode is packed with insights that will help you make more profit on your productions.Connect with Den on LinkedIn https://www.linkedin.com/in/denlennie/
Get more great resources over at https://www.denlennie.com/ -
In today's episode, I'll be sharing some cool tricks for keeping the conversation going on LinkedIn. We've talked about connecting with prospects organically, but what do you do when the conversation gets live? I'll show you how to nurture the relationship with curiosity and make sure the dialogue keeps flowing.
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One common question I get is about following up with leads without sounding desperate. It all depends on who you're talking to. If you have a specialization or niche, personalize your follow-up by mentioning a recent project that would interest them. Engage their curiosity and ask if they'd like to see it. This approach keeps the conversation going without being pushy.
When targeting agencies on LinkedIn, remember that you're not the only one vying for their attention. Stand out by offering a personal touch. Let them know you just finished a project that's relevant to their industry and ask if they'd like a link to check it out. By intriguing them, you make them decide whether they want to explore the relationship further.
In summary, it's essential to use curiosity to engage your prospects on LinkedIn. Personalize your follow-ups based on their interests or niche, and offer intriguing opportunities to keep the conversation alive.Connect with Den on LinkedIn https://www.linkedin.com/in/denlennie/
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In today's episode, I dive into a topic that makes many filmmakers uncomfortable: marketing. I totally get it! We all hate being spammed or bombarded with unwanted messages. But here's the thing: if you don't put yourself out there, you're guaranteeing no results. Remember what Wayne Gretzky, the famous hockey player, said: "You miss 100% of the shots you don't take."
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Join me as I share a valuable coaching call clip where I discuss the specifics of marketing and how to conquer the fear of promoting your work. We'll explore how to get comfortable with marketing and overcome the fear of annoying potential clients. Trust me, most people won't even see every piece of marketing you put out.
I debunk the myth of spamming and highlight the importance of targeting a specific audience. I'll share insights from our email marketing tests and how frequently you should engage with your clients through email. Plus, I'll reveal the power of consistent content creation and building relationships on platforms like LinkedIn.
If you're ready to learn effective marketing strategies tailored to the video production service industry, you're in the right place. Don't miss out on this valuable advice to get your work noticed and grow your business.Connect with Den on LinkedIn https://www.linkedin.com/in/denlennie/
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In the dynamic world of video production, it's common to experience ups and downs in your business. But how can you effectively manage those slow periods and ensure a consistent flow of opportunities? In this episode, join me as I dive into the specifics of sales and marketing strategies that can help you prepare and maintain a steady stream of business growth.
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This insightful discussion was extracted from a live coaching call within the VBA Elite program, providing you with an insider's perspective on our methods. Sales lulls are natural and don't necessarily indicate a decline in your video business. Instead of panicking, take a moment to gain perspective through activities like meditation or going for a walk. Then, approach your marketing efforts systematically by focusing on making meaningful connections rather than relying solely on email blasts with low click-through rates.
I share the importance of prospecting and leveraging your warm leads and existing clients to uncover new opportunities. Remember, market conditions are constantly shifting, and it's crucial to adapt your offers accordingly. Testing different marketing strategies, such as running new ads or exploring alternative angles, allows you to stay in tune with the market's demands.
I also discuss the impact of seasonal fluctuations, such as the end of the financial year, which can affect your video business's activity. Understanding that businesses experience periods of both high and low activity is essential. By tracking your quarterly performance and staying on target, you can focus on strengthening your marketing efforts and boosting sales.
Sales, as Wayne Gretzky famously said, is a numbers game. Don't hesitate to put yourself out there and embrace the process. I share a couple of real-life examples of engaging with potential clients facing cash flow challenges, demonstrating the importance of diagnosing the bigger picture and providing solutions that address their needs. By being genuinely helpful and having conversations that offer value, you can build trust and establish yourself as a go-to resource.
Consistency is key in sales and marketing. Balancing regular social media posts with proactive outreach ensures a powerful combination that drives results. To explore more insights and resources to scale your video business, I invite you to join our free community or watch our comprehensive training—both linked below. Let's work together to take your video business to new heights.Connect with Den on LinkedIn https://www.linkedin.com/in/denlennie/
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In this episode, I want to tackle a common concern among videographers: taking time off and worrying about the state of your business while you're away. Recently, one of my clients decided to take a month off to shoot in Europe, and we had an insightful discussion about how to prepare for such a break.
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Join me as I share a clip from our VBA Elite Mastermind, where we support a member making a big decision in his business and planning for time off. We dive into the anxieties that arise, the challenges of managing a business remotely, and strategies to ensure a smooth operation in your absence.
As creatives, we often think that no one else can handle our clients and projects like we do. But in this episode, we explore the idea of transitioning your business into a self-sustaining entity, where you can step back and trust others to take the reins. We discuss the importance of systemizing workflows, delegating tasks to capable team members, and positioning yourself as an international business.
You'll also hear practical advice and personal experiences from fellow videographers who have successfully taken extended breaks. We talk about maintaining consistent communication, even while away, and the positive effects of ongoing marketing efforts.
So if you've ever wondered how to navigate time off as a videographer or if you're planning your first extended break, this episode is for you. Discover strategies to keep your business running smoothly, embrace curiosity, and enjoy a well-deserved vacation without worrying about the long-term impact.Connect with Den on LinkedIn https://www.linkedin.com/in/denlennie/
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Hey guys! Today's episode is a real-life scenario of a client pulling out of a gig just days before it happens.
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Ever faced a situation like this?
I'm sharing my personal experience of how we tackled this in the VBA Elite Mastermind.
Learn how to turn these situations into valuable business lessons and effectively navigate cancellation policies. We'll also discuss striking a balance in negotiations to ensure a fair outcome for all parties.
Find out how we've worked towards minimizing our actual out-of-pocket expenses and managed to bring down the cancellation fee to 25% of the original budget.
Discover the art of negotiating with grace while preserving relationships with your clients, even in sticky situations.
Lastly, we'll delve into the power of community, particularly among video business owners, and how it helps you rally around in challenging times.
Join us in this journey and see how you can also leverage these experiences to build a more robust video business.Connect with Den on LinkedIn https://www.linkedin.com/in/denlennie/
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Hey, it's Den, back at it again! I'm breaking down how to transition a client from a one-off project into a long-term partnership this time. I'll share some insider tips from an actual conversation with a client where we discussed establishing a retainer or monthly partner package deal. You'll learn how to price your services correctly, maintain control of the project, and understand the benefits of a monthly relationship with a client.
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I also discussed a real-world case where a client wanted to repurpose existing footage for new video content and how I handled that. You'll get an insight into a simple client retainer tracker and how to keep track of hours worked, prices, and remaining hours.
But that's not all! I also talk about asking the right questions to understand your client's needs, the importance of being present in sales conversations, and establishing trust with your clients.Connect with Den on LinkedIn https://www.linkedin.com/in/denlennie/
Get more great resources over at https://www.denlennie.com/ -
Hey, it's Den, back at it again! I'm breaking down how to transition a client from a one-off project into a long-term partnership this time. I'll share some insider tips from an actual conversation with a client where we discussed establishing a retainer or monthly partner package deal. You'll learn how to price your services correctly, maintain control of the project, and understand the benefits of a monthly relationship with a client.
Support the show
I also discussed a real-world case where a client wanted to repurpose existing footage for new video content and how I handled that. You'll get an insight into a simple client retainer tracker and how to keep track of hours worked, prices, and remaining hours.
But that's not all! I also talk about asking the right questions to understand your client's needs, the importance of being present in sales conversations, and establishing trust with your clients.Connect with Den on LinkedIn https://www.linkedin.com/in/denlennie/
Get more great resources over at https://www.denlennie.com/ -
This episode shares some of my fave marketing strategies for video business owners looking to improve their lead flow. I'm a huge fan of organic marketing and believe LinkedIn is a goldmine for connecting with potential clients without costing you a dime, just a bit of your time.
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My advice? Get on LinkedIn and make 20 new connections each day. Stick with it and don't lose momentum. To back up what I'm saying, I've got some real-life success stories from my clients who've been doing just this and landing some super awesome projects.
The key here is to play it cool and not jump straight into selling. Instead, build some solid connections first. We even have some neat follow-up scripts we give to our paid clients to make things a bit easier.
You might be thinking, "This sounds slow." And yeah, it can take a while - anywhere from 3 to 9 months. But trust me, the results are so worth it!
Another cool trick I discuss is 'niching down'. This basically means becoming the go-to expert in a particular area. This can really boost your chances of getting more work in your field and isn't as limiting as you might think.
So, that's the lowdown! To get more involved, join our free community or check out our free training. We've got heaps more tips and advice to share!Connect with Den on LinkedIn https://www.linkedin.com/in/denlennie/
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In a slowing economy, it's essential to identify and capitalize on opportunities within your marketplace. In today’s episode, we’ll explore strategies to not only survive but thrive during challenging economic times.
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We'll dive into understanding market sentiments and leveraging them to your advantage when engaging with clients. Learn how to stand out from the competition and uncover where the real opportunities lie and seize them with confidence.Connect with Den on LinkedIn https://www.linkedin.com/in/denlennie/
Get more great resources over at https://www.denlennie.com/ -
The topic of rates is often avoided in our industry, with many filmmakers reluctant to share what they charge. But by sharing this information, we can better understand the market, help each other make informed decisions about our own rates, and collectively work towards a more transparent industry.
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The survey consists of questions about your editing system, rates for a day of editing, rates for shooting without kit, and rates for gear usage. We're also keen to learn about the kind of camera gear you're using and how much you've spent on camera gear and accessories over the past three years. Finally, we're interested in understanding your average monthly revenue generated from your video business.
You that you can participate in this survey anonymously if you wish. Please click on this Link to take the 90 second survey - https://denlennie.typeform.com/Videorates2023Connect with Den on LinkedIn https://www.linkedin.com/in/denlennie/
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