My wife needs convincing...

Jdaniels

Jdaniels

Well-known member
That I can make a decent living freelancing in the video production industry. I have a ton of potential clientele, potential resourses, and just plain potential. I got the logo (thanks Owen) the company name (thanks Larry R) and soon the tools of the trade. What I need is the ability to convince my wife that we video guys provide as valuable service as a dr and lawyers and can generate the fees that can sustain a family. She told me that she is willing to walk this road with me, so guys, what can I show her/tell her that there is plenty of money in this industry.

Thanks
JD
The louisiana chapter of Narrow Road Productions
 
Well, it seems like it would help convince her if you were able to hustle up a couple of weekend, evening, or "vacation" jobs before quitting your current occupation.

I quit a full time day job and took a flexible part time night job about 4 months ago. This is the first month so far that I made as much money freelancing as I did at my full time job. But, my financial necessities are likely MUCH more modest because a) I don't have a family (though I live with my girlfriend and our dog), and b) I've grown accostomed to living "modestly" (yeah, I'm poor.)
 
Its *tough*, but it can be done.

Remember that you need to make almost 30% *more* than your last
(W4) job due to the unique nature of taxes for the self-employed. You're
going to need a savvy finanical advisor and tax guy to cut that down to
a manageable minimum.

You're also going to need at least 4-6 months exenses from some source.
Generally you're going to be paid in pieces, and it can take some time for
those first pieces to come in. You can reduce that by doing work thats
more 'mercenary' for others in the meantime.

What state are your actual promotional materials in? Do you have any
projects done or 100% lined up that you're going to have some piece as
a 'calling card' to get in front of some other potential clients?
 
Here's the thing, if you are without work, that means you'll be home, if she
doesn't work, that means you'll both be home together. Not good, not good.
A woman doesn't need to be convinced, she needs to see results.

Charli
 
I would try doing it on the side first. Get all your bills paid and have 6 months of cash in the bank. Unless your job sucks now, but it is nice to have a paycheck every week. Plus these people who say they have work for you. They could back out.


Again do it on side for now.
 
what stage are you at in video production? what stage is your career at?

might want to consider easing your way into this and building a base before your quit your day job. either way, best of luck.
 
You should try and find weekend freelance work to show her that the work and clientele are there. If you have a job now it doesn't make sense to quit if you're just starting out. It takes time to get things together, and besides, what if the freelance work doesn't work out?

Oh yeah, getting paid for freelance work tends to be sporadic. You might do a big job and not be paid for a few months. Having a steady job is a good way to handle day to day finances until the bigger checks come in.
 
There's the creative and technical aspects of the video production industry, and then there's the business side. I know a lot of talented people who are great at the technical/creative, but underestimate the time, energy and resources needed for the business side of things. Like others have said, initially focus on part-time and freelance work, while saving up 4-6 months of living expenses before going full-time. Don't underestimate the time it takes to get new clients, negotiate contracts, do the work and then actually collect payment. A little bit of upfront business planning can go a long way. Find a business savvy accountant, one that works with other creative business people if you don't have one already. A good one can help you come up with decent plan, or get some books on business start-up planning. Good luck!
 
i have been doing my own thing for about 8 years now and my wife gets pissed because i dont have time for her. if you strike out on your own be ready to work twice as much as you do at your day job. when you are not working you are looking for work..etc..

also - now that i have my own biz i have less time for personal projects. it just works out that way. it is great to be your own boss but it is a lot more work.
 
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