Video Production Business Tip – Managing A More Profitable Video Production Work Flow

If you want to be productive on how you spend your time as a video production business owner, you ought to have programs in place that allow you to monitor every step of your video project work flow on a daily basis. You can literally make changes every single day that will improve profitability. Once you figure out which work flows are best, document them and make sure everyone in your studio follows the processes exactly as they are written.

A few quick tips related to project profitability include:

1. Document how many hours you spend on every project. Writing down the time you spend on each project helps you determine the timeline you have for specific projects.

2. Create a spreadsheet that includes the hours you originally budgeted for the video project. This will help you see if you are still within range of how you initially planned to finish the project.

3. Put the hours you actually spend into a spread sheet that is divided into functional categories (planning, scripting, shooting, editing, etc.) Categorizing each task in your project will let you see which among these consumes the most time in a specific project.

4. Literally watch the numbers at the end of each day to see how you are comparing to the original budget. This is a great way to monitor your progress each day.

5. Make creative or management decisions that will help you get back on track if the numbers show you are on your way to being over budget. If you see that something’s not right, it’s time to take action.

6. At the end of the project, see whether you were under/over budget and discuss with your team (or think about it to yourself if you fly solo) why the budget was/wasn’t met and what can be done to improve/duplicate results in the future.

The spreadsheet you created was necessary to see an overview of how efficient you were with your time and your tasks. I use this technique every day in my studio and it allows me to effectively manage several projects that are being worked on simultaneously by multiple designers, editors, etc. It’s a great tool! If you feel that you don’t have any system in place that will help you manage your time wisely, I recommend this strategy. The video production business entails a lot of hard work, time and energy. It’s best that you how and where you put your efforts into so that you can easily identify what your strengths and weaknesses are.