EV Tips 001: Stay Focused
It's about time I used this blog for something productive.
So, I've decided to share some of the things that I've learned after 10 years in the event video world. Here goes...
Like many small businesses, a video production company usually starts off as a hobby. Maybe a passion. But, if my business is any indication, my guess is that most of you started by taping things for friends, family, school, or a company that you worked for, and at some point, you decided to make a living out of it. Great - so you're all in, maybe you purchased some start-up equipment, cleared out a second bedroom to use as an office, and it's time to start raking in the dough. First stop... neighbor's bar mitzvah. Then maybe a wedding, a commercial for your uncle's paint shop, a home video transfer, and before you know it, you've become the wal-mart of video production companies. You do it all.
At the beginning, no doubt it's hard to turn away work. And I recommend that any new company dives in head first to experience all the different avenues that video production has to offer. But at some point in your company's life cycle (hopefully sooner than later), you've got to narrow your focus. Any production company will tell you that the bulk of their business comes from referrals. Well think of how much more powerful those referrals are if they all relate to one core service, one direction for your company. Focus is a powerful thing.
Consider this - the more focused you are, the less competition you'll have. You'll also have less potential customers, but by crafting our your own niché, you brand your business much more strongly. Be the go-to company.
Being focused is being efficient. There is no one-size-fits-all approach to event video. But the more experience you get in a certain niché, the faster and cheaper you'll be able to do it. Whether it's Muslim Weddings, Irish Dancing, Commercials for Small Businesses, or Public Service Announcements; Find that brand, and stick to it.
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Book about this:
Focus: The Future of your Company Depends on it, Al Ries
New Year, New Website
Back in February we officially changed the company name to Event Video Company, and launched our new website, www.eventvideocompany.com. In the next month or two, we'll be announcing some more exciting developments!
Give the new website a look, and let us know what you think.
Event Video for Everyone
As we reach the end of 2009, we find ourselves in a new economic climate - the Google age of fast, fresh, and free. As a company in the event video space, Firewire Films has always sought to stay ahead of the curve, providing innovative services and challenging ourselves to deliver them faster and cheaper than ever.
For us, 2010 will be a launching pad for subscribing even more deeply to this commitment. Our goal is to give our customers precisely what they need - accessible, reliable, and affordable video. In the spirit of this goal, look out for more free live webcasts, new ways to watch video, and several HD options in the next few months.
To our partner organizations - Thank you for your continued support! In 2010, we will expand into even more US markets in order to provide the consistent, simultaneous, nation-wide video network that you've been looking for. We will continue to provide you with reliable event data and an open line of communication before, during, and after your event.
We're looking forward to 2010. With your help, we will reach new markets, decrease the marginal cost of our videos, and share our productions with a wider audience. Event video is a memory. It's a training tool. It's a long-distance front row seat for relatives. And in 2010, event video is for everyone!
Happy Holidays,
Chris Ronzio
President & Founder, Firewire Films
October in AZ
It's halloween, and I've finally settled in Arizona. Looking forward to a warm winter for a change!
In New Zealand and Blogging…
It's been a while since I've updated this blog, but I thought what better time to start it up again then from my trip to the other side of the world. So here are some brief updates:
Firewire Films is flourishing. We've sold videos to customers in all 50 states and 14 countries. In July, we moved into a new office North of Boston in Beverly, MA, with space to grow. And earlier this year, we announced our expansion to the west coast, with the opening of a new office in Scottsdale, AZ scheduled for this fall.
As for New Zealand, Jonathan is out here studying on the South Island in Dunedin. I'm visiting this week, and it's been quite the adventure. This weekend we kayaked through the Milford Sound, where we paddeled alongside wild seals. Yesterday we went skydiving, which was the experience of a lifetime. Jonathan and I are exploring opportunities in the wine tourism industry, which I'll post more about eventually (see cargovino.com).
Also, I'm dabbling with Google's new Google Voice service, which is pretty cool. Give it a try -
Firewire Films Takes 3rd Place in New England GSEA Awards
This morning, I competed in the New England Regional Competition for the 2007 Global Student Entrepreneurs Awards, and I took home 3rd place for Firewire Films. This year, the global competition received over 500 nominations, and New England was the largest of all the regions.
The competition took place at Suffolk University in Boston, and was judged by 5 local entrepreneurs who are each part of the EO Network [Entrepreneurs under 50 with Businesses over $1M in revenue].
In my 30 minute presentation, I discussed my drive as an entrepreneur, the growth and future of my company, and the lessons I've learned along the way.
For more information, visit: http://www.gsea.org
About the Global Student Entrepreneur Awards:
The Global Student Entrepreneur Awards recognize those outstanding undergraduate student entrepreneurs who are simultaneously juggling course work and business plans. The GSEA Awards program understands the importance of encouraging entrepreneurship in students. This new generation of risk takers will help create the economic foundation of tomorrow. Student winners from the United States, Canada, the Caribbean, Mexico, Australia, and New Zealand compete. They come from different backgrounds and with different business ideas, but they share the determination and creativity common to successful entrepreneurs.
An “Exclusive” Lunch
Yesterday, I was fortunate enough to have lunch with Scott Smigler, owner of Exclusive Concepts, Inc.
Scott was one of the founders of the Bentley Entrepreneurship Society, and was instrumental in building the group during its early stages. Since graduating Bentley in 2004, Scott has worked tirelessly to grow his Internet Marketing company from their Waltham office.
Among other advice, one of the best things that Scott left with me was the assurance that all good things take time. One of my main concerns (and one that resonates with my fellow student entrepreneurs) is whether or not my business will grow to the point that it could financially support me, and eventually, my family. Everyone wants to work a job that they love doing, but security is a legitimate aspect of choosing a career. Scott explained that with the right mix of ambition and perseverance, often times one great lifelong customer can finance an entire start-up venture.
Another important suggestion that Scott offered was to find out what your company does best, and stick to it. One downfall to being a true entrepreneur is the tendency to always create new ideas and never fully realize them. By understanding what you're good at and completely investing yourself in that effort, the result is a purer and more recognizable solution for your clients.
Take advantage of any opportunity that you have to learn from people like Scott who have already crossed some of the obstacles that challenge you. You can never have too many mentors!
To learn more about Scott's company, and his advice to young entrepreneurs, check out his article in Entrepreneur Magazine.
Trading Up
Another genius idea. Last year, we saw 21 year old Alex Tew create the million dollar homepage.
To save up for college, Alex sold one million pixels of a web page ($1 ea.) in 100 pixel blocks to advertisers who wanted a piece of the inevitable publicity that would occur if Alex's page took off. And it did.
This week, Kyle MacDonald finished a year of trading old junk on his blog - http://oneredpaperclip.blogspot.com/
What started with one red paperclip eventually earned Kyle a house in Kipling Saskatchewan Canada.
It's unbelieveable how far an original idea can take you.
Books to Read!
Alright... so I was never much of a fan of reading, but I found out recently that there are good books out there. Any of these books will positively impact your thinking on how to start/run a business:
Blueprint to a Billion, By David G. Thompson 
The Innovator's Soultion (follow up to The Innovator's Dillema), By Clayton Christensen 
Seeing What's Next, By Clayton Christensen, S.D Anthony 
Blue Ocean Stategy, By Kim and Mauborgne 
How to Win Friends and Influence People, By Dale Carnegie 
Winning, By Jack Welch 
First, Break All the Rules, By Marcus Buckingham 
The Fortune at the Bottom of the Pyramid, By C. K. Prahalad 
Good to Great, By Jim Collins 
Treasure Hunt, By Michael J. Silverstein 
Biznets: The Webopoly of Future Business, By Frank Feather