While I was updating my account, I went through a lot of old friend requests that I hadn’t read and came across Triune Films, a group out of South Florida. I wanted to pass along a link to their channel, because they offer up some great tips on how to achieve good-looking special effects for little to no cost. If you are a low-budget filmmaker and are looking for cheap resources, you might want to check out their site. Here’s their most recent video dealing with Perspective.
The knee-jerk reaction is to take it. After all, work is work, right? Well, yes and no. Sometimes it is good to take a job at a lower rate if it means gaining a long-term client and some repeat work. After some time you can increase your rates to your standard. But then you have to examine the work itself. Is it something you would be proud to include in your portfolio or demo reel? Repeat work is one thing; sacrificing artistic integrity is something else. Also, will the type of work under consideration cheapen the marketplace? For example, my goal as the owner of a video production company is to help clients realize that they can have incredible production values with a reasonable investment. When someone else comes into the market and offers low-end, quick turnaround videos that were slapped together in an afternoon, it lowers the standard for all who work in the industry and cheapens the quality.
If you are just starting out as a freelancer, then by all means, take the job. When you are first starting out you must do what you can to get your name out into the business community. When I first started I was doing everything from dance recitals to weddings to church services; even legal depositions. Now I am able to be a little more selective in the jobs I take and I can feel comfortable turning down work that falls below my day rates, because I now know what I am worth in the marketplace. I know that by taking a low-paying job, I’m really hurting my profit margin. So as you venture into the world of freelancing and work on building your career, you have to know what your worth. Then, from that number you can offer your clients an accurate budget. Arriving at a price will ultimately be the result of trial and error. In the past I have completely underestimated how much time I would spend on a particular project. But I learned from those experiences and they only helped me in future projects.
Here’s a good rule of thirds: 1/3 of your budget should be for you; 1/3 for overhead expenses; and 1/3 should go back into your company. That one I learned from my dad, an excellent CPA at Till, Hester, Eyer, & Brown.
