Doing something pro bono to gain footage that can be used for further marketing and promotion is a standard practice, but not something you want to get into the habit of doing too much. You will always perceive that you need or want BETTER footage, improved sound, etc. and will occasionally be tempted to DO MORE FREE STUFF in an effort to get there. Early in the game learn to never give away something you can sell, to value your commitment, performance and production to a degree that compensation is a NORMAL consideration rather than an option - especially with friends and family, sad but true.
Sorry for the following cliche but, PERFECTION is a goal, not a destination. You will find that the pressure of doing stuff for pay makes you more likely to focus on the professional quality and elements needed to MAKE GOOD on the job. We don't think so, but doing stuff for free does often take the EDGE off of our need to perform, sometimes opening doors for less than optimum footage/production/performance. The results can also generate a bit of frustration, even sufficient disappointment to turn you away from something that has GREAT business potential.
So yes it is good to offer to video an event (wedding, funeral, birthday, anniversary, interviews, day in the life, video vignette, pet video biography, or some other celebration of life) - but pick your poison and seriously focus on capturing the necessary elements: steady camera work, very little if any zooming in and out, avoiding swish panning (firehosing - like you are spraying a fire with a hose instead of trying to concentrate on a correctly framed segment) and focus bipping. Many all to often begin by relying on auto white balance and auto focus, when they should start out getting accustomed to manually doing both, as well as setting the iris/aperture, learning to adjust for backlighting, etc. These habits and use skills are better acquired early on rather than attempting to correct when the tendency toward lazy acquisition habits is deeply set.
NOTE: It took me 3 years after starting a part time video production business (working full time or more hours with it, as well as holding down a 40 hour per week day job) to finally bite the bullet, cut the umbilical cord, take the plunge, jump in. But when I finally rationalized that virtually ANY video gig of 3 or so hours generated as much income for me as a 40-hour week at my day job (I am a 30-year veteran journalist/photographer), and that having that additional 40 hours to market, follow up, produce, shoot, edit, research (and sometimes even sleep in an extra hour in the morning) would allow me the oportunity to make a thousand dollars or more a day, I no longer had career change butterflies. I've had tight times, bad situations and a host of WONDERFUL experiences, challenges and well-paid gigs, and have never regreted or looked back since becoming a professional independent video services provider.