Whether you’re just starting your video company, or if you’re already established and looking for further funding, you might need to provide a video production business plan. This article will take you through the steps necessary to create your video production business plan, and also give you some pointers and guidance on the dos and donts, as well as important things to look out for when writing it.
First, let’s look at the various situations in which you might need a business plan for your video company: Your situation might be one of the above, or any combination of them.
So do this (especially when you’re just starting out and growing your company): Naturally, the smaller your city, or the area in which you want to work, the less competitors you’ll have.
No need to write down every competitor for your business plan. As you work to continually develop your business plan, you’ll want to dig in deeper on thee players in the market, and what kind of businesses they run.
Don’t just look at personal strengths and weaknesses — look at the bigger picture.
While you go through this exercise, you may find what you can highlight (Strengths), how to improve (Weaknesses), what you can take advantage of (Opportunities), and what may stop your business from growth (Threats).Knowing this information can help you evaluate how to set yourself apart, as well as how to compete with them. This is a useful question to ask if you’ve been in business for a few years before creating your business plan.If it’s a new video business, then you can adapt the question to something like, “ Here’s a useful graphic courtesy of Finance New Mexico: The discussion that goes into this should be a very objective one.Clients come in at a trickle until you’re well known and start getting referrals, and Mr Taxman always wants his piece.Do you want to start up with an office for your video production company, or do you intend to try to keep overhead as low as possible, by setting up in your garage?As from an effective part of a good business plan, this is also a great learning exercise for any business.While this is a popular method, you also can look into other methods for analysis, like: These tools will help you drill down further into the true intent of your video production business.Whatever your reason for wanting to create a video production business plan, this guide will help you.Like when you’re working on a video project, creating a business plan is rendered easier when you plan things out and do the work ahead of time. Planning is a thorough exercise, with a lot of research, decision making and effort.This essentially is your pitch as to why you want to have your video business in the first place.It definitely helps to make it catchy, but more importantly, it has to reflect what you really intend to execute in your business.