Thinking of Freelancing? Consider this...

I spent many years as a freelance video production professional before moving to an in-house video producer position. Looking back over my career, I realize that there are some things I should have done differently.

So, if you’re thinking about striking out on your own as an independent shooter, producer, and/or editor for hire, here are some things you should consider before making the leap (This is based on my own personal experiences, so my thoughts and opinions may be different from others who have had a similar career path. The goal here is to help you make an educated decision, and part of that process is talking to many people) :

WORK IN-HOUSE FIRST

Whether it’s at an agency, production company, or a corporate marketing department, I think it’s important to spend a few years working full-time as part of an in-house team first (if you can). Here’s why:

1. It will provide you with an incredible learning experience, because you will be working closely with other production professionals on a daily basis. You will be able to pick up new skills and hone your craft. It’s like going to graduate school, but you’re getting paid for it.
2. It will help you to build a solid network that you can lean upon later when you go out on your own. As you work with people within the business, you need to be establishing good working relationships. When those individuals move on to other opportunities, be sure to stay in touch. Whenever you move into the freelancer world, you might be able to earn jobs from these individuals. It’s much easier to mine an existing network than try to build one from scratch, when no one is familiar with your work.

LINE UP A REPEAT CLIENT

Before striking out on your own, I think it’s incredibly important that you already have at least one main client that will feed you work on a consistent, monthly basis. I realize this is easier said than done, but from my personal experience I think it's best not to transition into a freelancer until you have that client. This might start out as a small side gig, but as that work continues to grow, taking up more and more of your free time, you might reach a tipping point where it makes sense to go out on your own full-time. This is why working at an in-house position is so valuable. You are much more likely to find that repeat client through the network you build.

SET UP A CORPORATION OR LLC

Here’s where I advise you to consult with an attorney or tax professional (or both). Even if you are working solo with no intentions of hiring other people full-time, you need to set up a Corporation or LLC. This serves to protect your personal assets. An attorney or tax professional can guide you on which is right for you.

RENT, DON’T BUY*

Don’t rush into buying a lot of gear right out of the gate. You want to keep overhead as low as possible for as long as possible. It’s very easy to rent the camera, lenses, and supporting gear you need on a job-to-job basis and then bill that into your quote. This provides a few benefits:

1. Flexibility - You can be sure to get the specific camera package that best fits the job.
2. Modernity - New cameras hit the market on a regular basis. Renting, rather than buying, means that you will always be on set with the latest camera package.??
3. Experience - When it finally comes time to invest in your own gear, you can make a more informed decision about what you want to buy, because you've already had hands-on experience with what's current.?
4. Savings - Since you aren't spending your money on expensive gear, you are free to invest it in other areas of your business.

Here's a suggestion: Take the money you would be spending on gear and invest in a workshop or seminar. As an independent video producer, you can't just be a shooter. You have to edit. You can't just be an editor. You have to know motion graphics. Become knowledgeable in all facets of production. Learning new skills is so important. It can be easy, as an independent producer, to spend a lot of your time trying to market yourself and gain new business. Don't spend so much of your time trying to generate leads that you forget to further your own skill set.

*The one tool I would invest in right away is a computer and client monitor for editing.