For this blog post, we are exploring the initial though processes involved with creating our own business. The activity requires us to identify a business name, define what the business will be, location, target audience, timeframe for launching the business, as well as any financial implications and alliances that would benefit our move towards building a business. Based on my personal interests (should I move forward with a personal business), the following identifies the beginning information that I must consider as I move forward in creating LYP Productions and further define the mission/vision of the business. This is a broad stroke assessment that will require more in-depth analysis as I move through the course of this month.
What is the business:
The primary focus behind LYP Productions is the creation of digital media that inspires human connection, communicates a story, and allows opportunity for a brand, business, non-profit organization or individual to engage with their target audience. Focus will be on the creating digital media that meets the needs and interest of a client. Needs and interests can range from business presentations, proposals, music video, company information, training materials or as an added asset to marketing and social campaigns. I would love to become a national/international producer of media assets that is known for quality, creativity, efficient delivery, innovation, remaining on the cusp of new technologies, methodologies, and psychology, and the “go-to” company for media assets that “unleash experiential awe”.
The initial launch of LYP Productions and promotion of the business will be focused in the Pacific Northwest, with focus in the greater Seattle area. However, the business will also launch nationally through online platforms that offer freelance opportunities. My hope would be building a reputation that allowed LYP Productions to produce media assets for national and international projects across the globe.
Target customers will be:
small businesses seeking to tell their story or promote a product
non-profit organizations that need media presentations for fundraising events or their websites
individuals interested in video presentations for use on crowd funding websites
event planners who require digital media assets for events
music festival organizers who require promotional materials
individuals interested static video for their website that defines their brand and value driven initiatives
local bands who wish to create music videos or video presentations that coincide with live performances
businesses and non-profit organizations who need video presentations as part of a larger campaign
individuals looking to create a personal persona video or slideshare presentation
businesses, individuals and professionals who need multi-media proposals created
Alliances that may be important:
Local design organizations like AIGA in Seattle
Local non-profit organizations
Adobe (long term goal and alliance)
Biz Bash (long term goal and alliance to offer media assets for event planners)
Local Seattle festival organizers (for profit & non-profit with long term goal of national alliances)
Local event planners (with long term goal of national event planners)
Pond5 / VideoBlockx/ Other stock image/video sites (building relationships with these organizations that can be of cost benefit to my project creations)
Envato Studio – freelance opportunity (once I meet selection criteria)
Jason Silva (filmmaker) – long term goal/interest in collaborative project
Who can help?
Local Videographers/web developers
Large event production companies
Other freelance artists
AIGA members through networking and collaboration
Any individual I can collaborate on a creative project with
Fellow MCBS classmates that have unique skills separate from my own
Other Full Sail alumni whom I network and connect with
Other freelancers interested in collaboration
I seek to launch my business opportunities upon completion of my degree program at Full Sail university. This will be the point at which I have time to dedicate to fulfillment of projects for others, as well as the time when I can continue to develop my portfolio of independent projects to showcase my work. Timing of this may also come at the first opportunity to engage in a collaborative effort with another creative professional that helps to catapult the name of LYP Productions into the hearts, minds and souls of those who require digital media assets (specifically video). The business will remain a side aspect of my career until such time (if I ever chose to) that the success and reputation LYP Productions has been achieved which provides sustainable living.
The work will be conducted out of my private “in home” studio. There is little need in the early stages for a physical location. In truth, the work could theoretically be done from anywhere I chose so long as my computer, media assets and applications are available to work with. There is greater ease to production in my home studio with multiple monitors, but this is not a requirement to work on projects.
Any financial news will initially be self supporting. This includes any additional monitor equipment, licenses, registrations, or other business related expenses. As LYP Productions, if I chose to engage in creating a social campaign (which is of personal interest), any needed funding might be possible through the use of crowdfunding sources. This would be determined on a personal basis, as opposed to a client need.
Beliefs and Influence:
This business will have a foundation in my personal values and beliefs which I personally feel mesh well with the needs of a customer or client. Integrity in the quality of work that I provide, always striving to achieve and provide results that meet and exceed the expectations of the project or client, thinking of unconventional means of communicating a story, and nab inmate desire to be successful. There is a small amount of fear that plays a role in my approach to a business that must be overcome, however continued practice, humility, the ability to accept criticism, learn from mistakes, and drive to move forward will all be of benefit to my successful creation/operation of LYP productions.