If you're a video creator and you would like to start making a living from your creativity through your own business, there are ways you can transition into becoming a creative entrepreneur in the video business. For many creative types, business operations like forecasting, inventory, and taxes can be highly overwhelming but without both the creative and operational components in place, any business will have a hard time seeing long term success.
In this week's Creator's Tip we talked to Shannon Etnyre from FollowTrueNorth.com. Her company assists creators with understanding the elements needed to run an effective business and in this video she shares some tips that every creative business owner should follow.
Business Tips & Advice for Creative Video Entrepreneurs
There are several things that a creator needs to figure out in order to turn their creativity into something that's profitable for them. Here are just a few Shannon covered:
- Decide what you want to do—In other words, how do you want to put your creativity to work?
- Why do you want to do it—What is it about this activity that makes you want to do it for living? It could be because you enjoy it, because you’re really good at, or some other reason entirely.
- What is your most important driver—This is important, because it’s what you're going to have to remember as you go through this process. There are a lot of up's and down's, and this is what is going to make you want to keep going in spite of them.
- Organize your goals—You need to know your goals and the order in which you plan to achieve them. You can start by putting them in writing. List making is good, but can be impractical when organizing as you will likely need to rearrange your goals many times. A good tip is to use post-it notes to allow you to easily move goals and tasks around as necessary.
- Get Advisors—Surround yourself with mentors and people who are really invested in your idea as well as you and be sure to have regular conversations with these people. Constantly bounce ideas off of other creative people both in and outside of your niche. Also, try to find individuals who are left-brain finance type people to help you with the aspects you are not good at.
- Build a Solid Business Platform--You have to have steps laid out in front of you and develop a business map to reach the goals you initially set. The big picture might be overwhelming which is why it is imperative to break it into small steps and you map it out. Having a plan will increase your likelihood for success.