Advice from Mr. Jannard?

[Ben Ponce]

Removed.

[Eugene]

Dogbet is no Dr. Phil, so don't take his advice. Don't take Dr. Phil's advice either, for that matter.

http://www.dilbert.com/comics/dilbert/archive/images/dilbert21222010070618.gif

[Ben Ponce]

Thanks Eugene...I think.

[Bruce Allen]

Hmm, I am no expert on this but it looks like Jim found an excellent & original solution to a problem people had (grips could be improved), started small (selling stuff out of his car) and proved his product and market there first. Yes, with risk comes reward, but huge loans suck. I'm personally trying to avoid them. Where is your loan coming from? A bank, or an investor who deeply understands your idea? Do you have a business model? Can prove yourself small and then get more supportive investment? Can you keep things as separate as possible so that if your project goes south, your family doesn't suffer too much? You'd have to disclose more about your project for good advice.

If I were you and married, my best bet for convincing the wife would be to have a well-planned business model, coupled with a great idea (combination of original solution with market). But hey, I'm a director, not a businessman.

Your kids will be fine, you don't need stacks of cash.

Bruce Allen
www.boacinema.com

[Steve Gibby]

Ben,

I’m not in Jim’s league professionally or financially, but I am a 58-year-old veteran of this industry. Here are some quick suggestions that may help you succeed, and they’re listed randomly, not in order of importance:

1) Make sure your heart and passion is in your work. All things being equal, anyone who loves what they are doing, will do better work. Don’t work at something just for money. If your heart is in your work, and you do it well enough, for long enough, money will take care of itself and almost inevitably arrive.

2) You need what I call the Four T’s: Talent, Training, Technology, and Tenacity

3) Make a Business Plan, and periodically review your progress against it

4) Networking is critical to all businesses, but probably even more so in the motion media business. Tech boards like RED User are sources of learning, but don’t overlook the networking possibilities here and on other tech boards.

5) Analogy: If it’s fruit you’re after, a slice of watermelon is a lot more fruit than a grape. Forming good alliances is critical.

6) Minimize overhead. Though you will need a certain amount of write-offs, excessive debt will kill you.

7) Spread your skill sets to enable maximum revenue potential. Equipment that allows you to spread skills, and broaden yourself into peripheral genres of production, can potentially enable increased revenue.

8) Market yourself well. Enter award systems, and when you win, maximize the publicity potential for it. Awards shouldn’t be about ego or pride…they should be viewed as marketing tools for your business.

9) Establish a good web site. A business without a web site, or with a funky web site, is viewed as not doing “real” business. A good web site should be aesthetically pleasing, navigate easily, and be “sticky” (hold visitors on-site for as long as possible).

10) Whenever possible and logical, use “other people’s money” (OPM). This can come in the form of alliances, loans, and other means. Don’t borrow excessively – it will kill your business.

11) Stay on top of technology, acquire the tech that you will use regularly, and rent the rest on a per-project basis, building it into the project budget.

12) Establish a bookmark list of web sites that are the most important info sites for your niche or genres within the industry you work in or want to branch out into. Then visit them daily without fail. Your competition will probably do this, and if you don’t, you’ll fall behind them.

13) Seek advice from seasoned pros in your niches or genres of production. Pick their brains so that you can fast track your learning curve.

14) Keep an open mind. No matter how long you work in this industry, never get to the point where you think you have “arrived” or that you have “all the answers”. This industry is dynamic, not static, and it evolves rapidly in terms of opportunities and technology.

15) Have the courage to believe in yourself when nobody around you believes in you. The road to success is often a very lonely path. If you believe in yourself you seriously enhance your chances of success.

16) Never judge your own success, or that of others, in terms of net worth or what you or they own. History is littered with highly successful people who for various reasons lived life with few possessions and meager monetary wealth.

17) Health is wealth. All things being equal, healthy people have an edge on outperforming their less-healthy competition. Pastimes and practices that undermine your mental or physical health can also undermine your professional health.


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There are many more factors and suggestions I could add. There are never any failsafe guarantees of success, but if you have the attributes I listed above, and practice what I mentioned, you’ll have a great chance of succeeding!

Remember…happiness is a journey, not a destination - so consequently success is a journey, not a destination.

[Sam Druckerman]

Another great post from Gibby.

But, this line in particular really rings true.... And comes as a nice reminder, every things in flux.



Remember…happiness is a journey, not a destination - so consequently success is a journey, not a destination.

Thanks.

[Jeff Kilgroe]

...The Tao of Gibby, it's totally zen. All excellent points and several of them apply directly to life in general and not just running a successful business.

[Ben Ponce]

Exactly the kind of advice I was looking for Gibby. I can't thank you enough.

[PaulClements]

On a side note when did you become a mod Jeff? Congratulations mate!

[Hrvoje Simic]

Great post Gibby, as usual.

Wowee Jeff...congrats!

[Eirik Tyrihjel]

Thanks Gibby for a very inspirational post!

Now get your #8 and take it to Norway!

[Jeff Kilgroe]

On a side note when did you become a mod Jeff? Congratulations mate!

Uh, today. :) I'm guessing that since I hang out here so much anyway, Jarred thought he'd give me a purpose. Heh.

[Brook Willard]

Hey... welcome aboard, Jeff!

[Casey Green]

Gibby,

You are a very generous person and have a wealth of knowledge and experience. Thank you for sharing your insight in this industry... It is very much appreciated. May more follow in your footsteps.

[Steve Gibby]

Thank you for the kind words guys - much appreciated. Industry veterans helped fast track me throughout my career with timely insight, and the memory of that helps me remember to do the same for others whenever the chance presents itself.

Now, go get 'em Ben! I'm sure Jim is slammed with development work, but he is definitely the kind of guy who takes his time to give insight whenever possible. Tell your wife that for the time being you may have to settle for advice from an infamous hundredaire (me) instead of a famous billionaire! I think Jim has practiced most, if not all, of the suggestions I listed, but I'm sure he'd have some much deeper insight than what I offered.

Very cool that you're a moderator now Jeff! When I noticed that yesterday, I PM'd Jarred with an "Excellent choice bringing in Jeff" message. I think Jarred runs a very good board here, and bringing you in as a mod to join an already excellent group of mods should strengthen this board even further.

[Jeff Kilgroe]

Very cool that you're a moderator now Jeff! When I noticed that yesterday, I PM'd Jarred with an "Excellent choice bringing in Jeff" message. I think Jarred runs a very good board here, and bringing you in as a mod to join an already excellent group of mods should strengthen this board even further.

Thanks for the vote of confidence, Gibby! Coming from you, that means a lot. :)

[Ben Ponce]

Hundredaire...haha. Your post was advice that was professional, positive and steers clear of what I thought most would reply with. I'd say you spoke like an eventual millionaire. Thanks again.

[Corrado Silveri]

Hey Jeff,
my best congratulations!

Btw, I miss the "Applied Visual" nick...

[Jannard]

I'd add two things to Gibby's list.

1. Be very lucky
2. "They have to kill you to stop you"

Jim

[Keith Nealy]

Hey Gibby bruddah...

How you get so akamai?

You almost kupuna already. Gray I bet unda dat hat!

Tanks for the pearls of wisdom.

With all the new keiki coming on the block it's great to see such talk story sharing life's lessons.

Deeze tings no learn in school - but learn here - in the little RED schoolhouse!

Mahalo bruddah,

Aloha,

Keith

[Steve Gibby]

I'd add two things to Gibby's list.

1. Be very lucky
2. "They have to kill you to stop you"

Jim

LOL....no doubt!

[Steve Gibby]

Hey Gibby bruddah...

How you get so akamai?

You almost kupuna already. Gray I bet unda dat hat!

Tanks for the pearls of wisdom.

With all the new keiki coming on the block it's great to see such talk story sharing life's lessons.

Deeze tings no learn in school - but learn here - in the little RED schoolhouse!

Mahalo bruddah,

Aloha,

Keith


Tanks bruddah...

Oh lotta da kine gray unda da hat! I like fo help da keiki. Dis make me feel good brah! Talk story da ting fo me...

Aloha an mahalo!

Gibby

[Steven M. Bailey]

Aloha an mahalo!

Can't wait to hear those sweet words again. a week of surfing, snorkeling ,and r&r sounds pretty dang good right now.

dis tread dis gettin purdy mad whacked yo.:watsup:

(invest in good people; they can be harder to find then you think.)my 2 cents

[Ben Ponce]

Yes!!!! I got Jim to respond. Thanks Jim! While your advice was straight and to the point, the second item is the one I pondered on the most. You really don't give up until you get what you want. You're gonna be very successful with Red, there isn't a doubt in my mind. I love this forum!
Hey Gibby, Keith...you guys are throwing around that Hawaiian lingo. I can't wait, I'm leaving for Mauii July 2nd. My third time going to Hawaii. You guys got me even more excited with the brudda and brah talk! Mahalo!

Ben

[Steve Gibby]

Yes!!!! I got Jim to respond. Thanks Jim! While your advice was straight and to the point, the second item is the one I pondered on the most. You really don't give up until you get what you want. You're gonna be very successful with Red, there isn't a doubt in my mind. I love this forum!
Hey Gibby, Keith...you guys are throwing around that Hawaiian lingo. I can't wait, I'm leaving for Mauii July 2nd. My third time going to Hawaii. You guys got me even more excited with the brudda and brah talk! Mahalo!

Ben

Jim is almost always a man of few words - but when he does speak it always seems to go right to the heart of the issues and be layered in meaning like an onion. Very cool...

Keith lives and works in the Islands and I lived and did television production work in the Islands every winter from 1988 to 2001. We're both about the same age and have a love for Hawaii - thus the occasional "bruddah" talk. Maui is awesome! if you like snorkeling take a boat to Molokini, hiking/mountain biking go try Haleakala, for a long beautiful road go to Hana, whale watching boat from Lahaina, golf at Kapalua, surf mostly small this time of year, but fun waves can be found. Tons of places to get away from the tourists if you read and ask locals. Have fun! I love Maui...great island. Have a great trip!

[Eugene]

There are two types of people: are-rich and pre-rich.
Just give it time.

[Rob Powell]

Gibby's advice is right on. Especially note the recurring advice to keep from large amounts of debt. It's a seductress that will choke the life out of your business.

We've always follwed the mantra "don't borrow for equipment unless you know where the money will come from to make the payments." We've seen countless companies production companies buy the latest gear and go belly up a few years later, because the clients weren't there.

I periodically ask my clients "what additional equipment or capabilities could we provide that would enable us to do more business together?" It's amazing what they'll tell you. If possible, let your existing clients grow your business and expand your capabilities.

[Ben Ponce]

Will check out those options while I'm there Gibby, thanks!

[Mark L. Pederson]

2. "They have to kill you to stop you"
Jim

THAT sums me up.