Video Production Business Tips – The Future of Video Production Businesses

I typically try not to spend a lot of time looking into a crystal ball, but a coaching client of mine asked what I thought the video production business will look like in 5, 10 and 20 years. My insight is based on how I perceive the industry with regard to society, multimedia and technology. Here’s what I have to say.

Regarding the video business in the next 5 years, I think video overall is coming back full-force. Corporate video was very popular in the 80’s but started to die down pretty significantly in the 90’s due to the emergence of CD-ROM authoring and distribution capabilities. This is also when PowerPoint hit the scene heavily in the corporate presentation environment. In my opinion, now is a great time to start a video business and with proper marketing and sales strategies, you’ll be able to really flourish in the coming 5 years.

In 10 years, I believe that bandwidth will finally catch up with High-Definition (HD) camera quality (probably before then but definitely by 10 years). Full-resolution HD videos/films will be accessible on your laptop, phones, in your cars, everywhere! The thing to always remember though is that no matter what the technology is doing, you want to remain highly focused on content creation, or storytelling. There will always be a new technology and a new group of investors willing to dump millions or even billions into the technology.

Let the big boys spend all their money on the technology. Just get real proficient at learning new technologies as they come available. Then, teach your clients how you can help them adapt the new technologies in their communications strategies. I believe that no matter how much technology changes, there will still be a need for good video producers/storytellers. In 10 years, there will be more channels than compelling content.

It will be much easier to start your own television/web network and advertisers will have an unlimited supply of choices on where to run their advertisements. Niche markets/audiences will be the key to success in a decade. If you command a high percentage of a particular market segment, you’ll be able to develop channels with content that serves that market and make a nice income selling advertising space or member subscriptions.

Note:The tools to produce videos will get cheaper and cheaper every year so it is vitally important that you position your video production business and yourself as a producer who understands business/marketing/training communications… not just video production. You will need to focus heavily on the consultation part of the video business instead of just cameras and software. There will be people who buy gear and call themselves “pros” on a daily basis but the companies that stay focused on the “strategy level of thinking” when dealing with clients will prevail.

This has worked for me so I continue to stay positioned in this manner.

In 20 years… who knows? I’m sure that video will still be a profitable business but the technology will probably be out of this world in terms of what it can do. As I’ve stated before, no matter what the technology does, their will only be a small percentage of the population that will understand how to craft a compelling and effective message. Study the technologies over the years and figure out quickly how they apply to the video business and how your clients can use them to improve their communications.

I think in 20 years, video WILL be as common and necessary as having a website or email address is today. Instead of business cards, you’ll have a video card. Instead of a brochure, you’ll have a brochure with tiny chips that can show videos right on the paper.

The above comments were all related to the corporate video industry. How will the consumer video industry fare?

The short and probably best answer is that people will always get married, have birthday parties, and need family history videos. The point is that consumer video needs will never go away. Unlike business, video needs that ebb and flow with the economy, personal video needs are ALWAYS there. There isn’t as much money to be made serving consumers but the demand will always be there.

In fact, I can’t seem to shake the thought process of developing several consumer- related video businesses that serve this unending need. (Weddings, birthdays, college sports reels, etc.) There is a lot more competition in the consumer video industry because the videos are easier to produce and the client doesn’t have the same expectations as to quality as the business customer does. The key is to develop branded products that are easy for the customer to understand and afford. Then, promote them like there is no tomorrow!

I recommend looking at two parallel plans going forward.

Focus primarily on building a video service that develops business videos but also look at serving consumer needs. In the early years of your video production business, the consumer needs often pay the bills when the video business clients go missing in action. Plus, the consumer jobs pay faster.

What Are the Best Selling Products Online?

If you’re thinking of starting an Internet business, you’ll eventually start thinking about whether you should be promoting the best-selling products online.

It’s no surprise that online shopping has become a multi-billion dollar industry worldwide in recent years. This has led to many people starting Internet businesses promoting and selling a huge range of different products and services. In fact, the Internet is responsible for more people than ever before becoming millionaires from the profits they make with their online enterprises.

So, if you’re only just starting out, how do you find the best-selling products online?

Top 10 Best-Selling Products Online

The actual list of products that people sell over the Internet is enormous. People really do buy an amazingly diverse range of things online, so you can literally choose from thousands of different products to sell in your business.

However, there are some items that always tend to sell far better over the Internet than others. These are:

  1. Books
  2. Computers
  3. Software programs
  4. Electronic items
  5. Clothing and apparel
  6. Kid’s toys and games
  7. DVDs
  8. Health and beauty products
  9. Music
  10. Jewelry

Should You Aim at the Best-Selling Products Online for Your Business?

The fact that some products obviously sell far more than others is clear. However, that doesn’t always mean you should aim at those particular niches for your own business.

It’s important to remember that the really large sectors of the market are likely to be saturated with competition. Your little business will be competing with huge companies with plenty of resources. They have a larger marketing budget than you. They also have more experience in attracting the attention they need.

Yet you don’t necessarily need to choose your business’s products from the top 10 list. It’s very possible for you to generate plenty of profits by choosing products that fit within any niche at all.

This is because there are plenty of potential customers online searching for whatever you decide to sell. You just need to know how to find them and get them to your website.

Big Ticket Items vs. Small Ticket Items

Many new online business owners struggle to choose between big-ticket items and cheaper, small ticket items when they choose products to sell. Big-ticket items are those that come with high price tags. You only need to sell one or two items to make your profits.

Small ticket items are those cheap products that you can sell lots of very quickly and easily. The downside is the smaller profit margin, so you need to make lots of sales to keep your profits up.

The most successful Internet businesses work on ways to incorporate both types of products into their range, along with some mid-priced items as well. This lets them sell the small ticket items for quick cash flow and to gain a customer.

From there, the opportunity exists to upsell that customer to a more expensive product that might compliment the first item they bought. This increases profits nicely.

Searching for the best-selling products online to add to your business offerings is a great idea. Just be sure that you also work on ways to diversify your business revenue at the same time. This will ensure your business always stays profitable.

Ways You Can Sell Products Online

Many people want to make money, especially in this day and age with unemployment rates at an all-time high. There are thousands of people just like you who want to start their own business or to figure out a new way to make money online. There are many ways you can make money online but if you haven’t tried to sell anything on the internet before, then you need to learn a few tips before you get started.

Figure Out Products That People Want to Buy

The first thing you should figure out when you want to go into business for yourself is what you want to sell to consumers. Do you want to sell health and beauty products, supplements, electronics, vehicles, books, or any other tangible product that consumers would be interested in? There are thousands of products that you can choose from in a variety of categories. People who want to make a lot of money online should figure out what type of popular products are available where they can sell and make a profit on.

Research Affiliate Marketing Programs

There are a lot of affiliate marketing programs that are available online that you can join. You will promote and sell a company’s product and when a web visitor clicks on the affiliate network URL and purchases the product, you will earn a commission on the sale. There are many large affiliate network companies that will allow you to sign up and become an affiliate marketer.

Create a Website and Sell Products

If you want to become your own business owner, you can always create a website that allows you to sell products online. You should choose a product that you will stand behind and are passionate about. Since you’re in business to make money, you should find products that are popular with consumers today. For example, you can sell electronics or health and beauty items. These products are always in demand by consumers. You can also sign up on other websites and create your own storefront so you don’t have to buy a website and domain URL.

It Takes Time

There are thousands of products and companies out there that want people to sell their items. People need to be careful with certain types of companies as they may tell you that you can earn thousands of dollars immediately, when the reality is there are few that are able to accomplish this in the beginning. When you are starting to sell products online, just be patient because you’ll need to create a brand and name for your company to draw customers in to buy what you have to offer.

Challenges Faced by Commercial General Contractors

Despite a rise in production last year, the construction industry is still likely to make a sluggish recovery. As the economy continues to recover from its recent downswing, the commercial construction industry also continues to grow. However, the industry is still encountering challenges that can affect businesses and investors. When it comes to effectively addressing and handling these challenges, hiring an experienced commercial general contractor is a good way to ensure that your project goes smoothly and successfully. Things are looking up a bit for the construction industry though.

New construction starts have been strong in recent months, construction spending rose throughout much of 2011, the production of construction materials has been up for six months in a row, and Caterpillar, Inc. and other large companies have posted strong earnings reports for the past couple of quarters a hopeful sign that small and mid-sized companies will also do better. However, the industry still faces plenty of challenges. Small companies for the most part are struggling because of the sluggish economy, increased competition, rising insurance costs and a shortage of excellent workers. The largest challenge, by far, commercial general contractors say, is the economy. Although the unemployment rate is dropping and the U.S. economy is showing other signs of recovery, economists and others say the recovery of the construction market will lag behind the overall economic recovery.

Commercial general contractors say homeowners and other customers are savvier in the wake of the recession and typically get three or four estimates before they decide whom to hire. This means commercial general contractors are competing for work against two or three of their peers now, compared to one or none before the recession.

People used to call and say, ‘Come do this job for me,’ and they’d get around to asking what it would cost. Yet another challenge is rising insurance costs. Insurance market conditions for U.S. construction fiĀrms began deteriorating in the second half of 2011, and that is expected to continue this year. Large losses and reduced investment returns caused many U.S. insurers to seek rate increases in 2011. As a result, rates for various construction product lines, such as general liability, builders risk, excess casualty and others, rose, forcing up costs for commercial general contractors, who passed them on to their customers. Cost overruns. Sometimes, projects can get “carried away” and can end up costing significantly more than anticipated. This can occur if materials need to be changed, if there are unexpected delays or additions, or if the planning got out of hand and the building ended up a bit more showy than originally anticipated.