Three mistakes to avoid as a startup in the film industry

By John Bramer, Digital Relations Consultant,?6XDMedia

Establishing a startup in the film industry is both an exciting and daunting process. In such a highly competitive space, it can be difficult for smaller companies to compete with the economic power and reputation of their more recognised rivals. To give your film startup the best chance of success, be sure to avoid these three common mistakes.

1. FAILING TO ATTRACT AND RETAIN THE TOP TALENT

While film startups understand the importance of marketing to clients, they often forget the importance of marketing to potential employees and freelancers. It's vital that you bring together a group of talented individuals who have the right selection of skills between them to help your organisation thrive.?

To give yourself the best chance of forming a great team, you need to build a brand that appeals to talented people. This begins with having a clear mission and?a healthy workplace culture. Share your company values in job descriptions when hiring and give insights into your culture to help you attract the best candidates available. When your employees and freelancers are emotionally invested in your organisation, they're going to work harder to see it succeed. Keep your team inspired and make them feel like they're part of something ground-breaking to get the very best out of them.??

2. INVESTING IN EQUIPMENT THEY DON'T NEED

According to recent research,?44% of startups fail?due to running out of cash, and this happens when bad financial decisions are made. In the film industry, a large chunk of startup investment goes into equipment. The problem is that many choose to invest in equipment for every eventuality instead of asking themselves what they really need. Don't pre-empt the needs of future projects – only purchase items that you know for sure are going to be used right away.??

Before investing in a new piece of equipment, consider whether a brand new, state-of-the-art model is necessary. Perhaps you can get away with second-hand or refurbished kit instead to save money. In some cases, renting equipment can be a smart way to avoid making big investments for items that will barely be used.

3. SETTLING FOR A POOR-QUALITY WEBSITE

Consumers today rely on the internet more than ever before to research organisations and get in touch with businesses. Therefore it's vital that your film startup builds an online presence, and a high-quality website forms the basis of this. The trouble that many startups run into is settling for a poor-quality website due to lack of funds, time or expertise.?

If your website is lacking valuable information about your company, it's difficult to use, or it doesn't help visitors contact you, you could be driving clients away. In fact,?66% of people are put off a brand?if they have a frustrating website experience. Startups don't have a long-held reputation to rely on, which means their website goes a long way in creating a positive first impression. Be sure to invest in a professional, stylish and user-friendly site that reflects your brand's tone of voice.

SET YOUR FILM COMPANY UP FOR SUCCESS

Although growing a startup is tough, it's a rewarding process when you see your company thrive. By avoiding these mistakes, you can give your film startup the best chance of succeeding.