How has the economy affected your business?

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    • #48930
      AvatarSummerrose
      Participant

      Hi,

      I’ve been catching up with old co-workers and it seems as though most of them freelanced, and did well for a long time up until a few years ago, for large corporations. Basically, they were getting work through Executive Producers who were directly in contact with the client. Now they do not have as much business. It’s for this reason that I left the field and did something else for a living until I was ready to go back – which is now. I would think the economy has affected everyone, but those that have gotten a contract directly with clients and have marketed their businesses consistently have fared better. This is what I am planning to do. I wanted to check in here and was wondering how the economy affected people on this board?

      Thanks, Pamela

    • #200612
      Avatarvid-e-o-man
      Participant

      Pamela,

      I’m surethere will be plenty of otherresponders to your post but here is my two cents worth.Video is a small part of my income so I will explain what has been happening with my full-time work. I am a landscaper and I have found a trend the last couple of years among my regular customers. They have been more interested in having maintenance (cutting, trimming, mulching, weeding etc.)on theirlandscape and less on new installation (trees, shrubs, etc.). Not a complete shutdown of services but they were interested in keeping what they have well maintained. I hope this helps your considerations.

    • #200613
      AvatarAnonymous
      Inactive

      Hi everyone

      By way of general reply to this topic, I can say Summerrose’s observation about consistent marketing seems to be true for me too. Even before the recession, I always maintained regular and consistent marketing activity. As I used to teach and provide consultation in marketing, I was acutely aware of the importance of devoting at least half a day per week (preferably a whole day) to making and strengthening client (and related) contacts. As a result of this effort, the recession seems to have made little difference in the amount of work I have enjoyed. In general, the clients and nature of the work has changed though. Gone is a lot of my previous commercial, local authority and public utility work to be replaced by educational videos for education and awareness and promotional material for charities and not-for-profit organisations. True, the rates have dropped and I have to provide more for the money but I am busy. Keep on marketing I say!

    • #200614
      AvatarSummerrose
      Participant

      This is great info Droog and Video man. I was wondering, Droog, when you say that you make and strengthen client contacts, what does that mean?

      Thanks, Pamela

    • #200615
      Luis Maymi LopezLuis Maymi Lopez
      Participant

      In my case I’m in the new wave of business who started right in the middle of the recession so it had been very difficult to make a solid presence in the freelance world. The economy is at an horrible shape in my country and everywhere in the world, believe me I study Economics. For my business I had done a lot of things including visiting business around and calling business owners trying to convince them of the necessity of video productions for the web. I have deliver a few postcards around and hundreds of business cards, but none of them worked. I started out with a Sony DCR SR47 and with many efforts from my family, which saw that I was serious about doing video, bought me a Sony AX2000 and from then on I could start doing a more challeging gigs like a Quinceaera, some slideshows and a special holiday event, not highly payed, but its something.

      In my country gigs like this are difficult to find and they usually happen by referrals in long periods of time so waiting for that to happen is definitely not an option. So I make a quick analysis and decided to join Video StoryTellers and the benefit of this type of service is that you do not shock people with the price, is just $35 (One person actually told me that it was too cheap). In my case I’m having some difficult marketing Video StoryTellers because in my country people are receptive to new things and they don’t trust anyone (I believe this happens everywhere). So in order to get work I cannot sell them a product or services, what I do is I sell myself. What I mean by this is letting people to know ME, not my business. I invite them to eat just to talk about their business and I pay them, so when people start knowing me they begin to trust me. Eventually they trust me enough to hire me because they know I will make a terrific job.

      I believe that in the economic world we are living today the key is not sell, sell, sell and your done with the client. I believe the new economy approach should be creating trust with people and with that trust the product or service will sell. So when you finish a product and hand it over to your client contact him/her from time to time to strengthen client friendship/professional relationship.

      I also had great results using LinkedIn. I got a highly payed gig from there offering Internet Marketing services. I simply use all my knowledge and talents to come up with new ideas for my business and I never ever given up.

    • #200616
      Avatarhmueller
      Participant

      Recession, what recession?

      Seriously, here in Canada the recession has not been as severe as elsewhere but it has had its effects.My clients are typically “small businesses” and they are looking for new ways of doing business, of being more responsive to the new economicclient. So I havefound anincrease interest in social media, websites, andvideo forall of those.In generalinterest in mybusienss has gone up since the recession. But I grant that it could be a local phenomenon.

    • #200617
      AvatarGrinner Hester
      Participant

      It’s not a recession here. It’s a depression. And video is expedible to most.

      I billed over 300k a year not 4 years ago. Today, heck I’ll be lucky to make it into six figures this year based on my January. Flat bids and one man band productions have been my saving grace through this time. That’s what will have to hold me out until an upturn happens… and that is no time soon, as we all know. I’ve simply had to trim the fat. I sold a couple of cars and can’t go wasting money at the race track every weekend. Ie at more roman noodles and I don’t spend 600 a month on client lunches anymore. A little humility is great for cocky punks like me. It builds character.

    • #200618
      AvatarNashuaVideoTours
      Participant

      Having a wonderful recession here – the past 2 years have been off the charts. I do real estate video and videos for small business websites – couldn’t be any busier!

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