Paul Hudson
Vacuum Tube Member
How has your business survived the recession, so far. What changes have you made or do you plan to make?
Recession
- Thread starter Paul Hudson
- Start date
Chamber005
Carbonite Member
Are you talking about film-specific business? I don't have one of those.
But in my business I've actually been apt to spend WAY more cash (compared to say, three years ago at the same time). That's what reserves exist for, so that you can spend, spend, spend when everything's going at fire sale prices.
In the height of the boom I'd probably spend 5K per month on new business (ROIs typically around 15K), then I dropped down to as little as 1K (and some months nothing at all), and now I'm back to about 3K. I can usually tell how good I'm doing by how much I'm spending, regardless of ROI.
But in my business I've actually been apt to spend WAY more cash (compared to say, three years ago at the same time). That's what reserves exist for, so that you can spend, spend, spend when everything's going at fire sale prices.
In the height of the boom I'd probably spend 5K per month on new business (ROIs typically around 15K), then I dropped down to as little as 1K (and some months nothing at all), and now I'm back to about 3K. I can usually tell how good I'm doing by how much I'm spending, regardless of ROI.
basspig
Veteran
It's been downright awful, but it was always awful, since I officially started in 2003. 2009 was even worse then the prior years as I had a total gross income from all my business ventures of only $3,080, which includes video and sound production, web design and radio broadcast engineering services. About 1/3 of that income was from video. Ironically, I had borrowed $23,000 to cover equipment costs that year.
This year was shaping up decently from March to June, but come July, everything stopped again. I grossed about 3 grand in just five months, a new record for me.. too bad it didn't continue at that pace. I haven't seen a penny of income since I took the final payment on a DVD video course I produced in May/June. Now dealing with overdrafted bank account, credit defaults, untility shut offs and back taxes/liens on my residence.. Terrible year it's turning out to be.
This year was shaping up decently from March to June, but come July, everything stopped again. I grossed about 3 grand in just five months, a new record for me.. too bad it didn't continue at that pace. I haven't seen a penny of income since I took the final payment on a DVD video course I produced in May/June. Now dealing with overdrafted bank account, credit defaults, untility shut offs and back taxes/liens on my residence.. Terrible year it's turning out to be.