Let’s do this one more time
It’s been a while since the last update here on our blog. To be honest, there are some draft content with the sole intention of making our website more SEO friendly, but those projects never took off the ground.
This won’t be a long one, but I thought it’ll be good to share some lessons that we’ve learned along the way of taking this idea of bringing creatives together to produce stories worth telling. Being entrepreneurial in the creative space is an almost certain suicide mission unless you really dig deep and work for it, and I’m happy to report that since our inception officially in December 2021, we’re still around (by the grace of God).
What insightful nuggets can a 2+ y/o business owner of a production studio offer you that you won’t be able to find from a quick search on Google or ChatGPT (I wonder how dated this reference is going to be)? I really don’t know, but through our years of telling stories and making videos, we’ve learned that every story is worth telling, so here are the lessons from running this humble little production house called Roundtable Media Sdn Bhd.
It’s okay to work for free*
When you’re a freelancer, you have a tendency to focus on the crafting more than the business sustainability. You choose to ignore some red tapes for the sake of pursuing the "perfect project.” You downplay your worth in order to land bigger clients who promise bigger things down the road. You feel cheated, ashamed, annoyed, tired.
But one thing you have to quickly realize early on if you want to run a business is that it is okay to work for free sometimes. Just like how certain brands give away free samples, your business may need awareness. Don’t kick yourself for “compromising your values” and quite frankly, those who have a lot of things to say about this often have a thin portfolio.
As a business, we’re quite selective with our clients and with every project, we ask ourselves if this will bring us at least one of these four things:
Fame
Fortune
Future
Fun
Fame. This is the dance larger corporations and businesses often play with agencies or production houses. They have the clout and connections and they know that many agencies have their mouth watering for a chance to put the brand on their portfolio deck. For Roundtable, we ask ourselves early on that if the budget isn’t right, can we do something with this project to get industry recognition — it could be an award-worthy campaign or can this brand make us known in their industry?
Fortune. Obviously, to run a business, you need income. Your team is not going to work for you for free. Sometimes the easiest question when it comes to taking on a client is this: “Does this project make business sense?” But business sense might not mean thick margins — it could mean consistent monthly income flow which could open up possibilities for expansion. After all, having some income is better than having none.
Future. Closely linked to fame and fortune, future is asking the question: “Will this project contribute to the future of my business?” Sometimes, we’ve even considered giving heavy discounts to some clients because of the potential growth of their business. There’s also opportunity in choosing to work on some boring work just to get the foot in the door for bigger projects. Ultimately, you’re going to have to make a decision and take the risk because you might end up betting on the wrong person. But that’s the future right? Unpredictable.
Fun. Don’t think this needs to be explained much, but sometimes you just have to do something because it is fun — because it brings joy to your team — even if it means making a loss or not earning your usual margins. Whether it’s a passion project or a client we really like, we are not afraid to forego fame, fortune and future just to be able to do something just for the sake of learning, growing and enjoying.
It’s called paperwork for a reason
Systems and processes are a pain when you’re a freelancer trying to navigate the “corporate world” of quotations, POs and invoices. Don’t get me started on procurement processes and due diligence which I see as buzz words to make it harder for you to get the payment you are due. But it’s called paperwork for a reason. It’s not supposed to be enjoyable, but if you are able to master the processes and systems, you will be able to survive running a business.
I went through my own fair share of headaches as a sole proprietor, but becoming a private limited company raised the bar even higher.
This is in no way meant to scare potential creatives from pursuing the entrepreneurial life, but I’m hoping that you go into it preparing to implement structures and systems. It’s taken us some time to get some processes going and we’re far from locking them into stone, but thankfully we have roughly worked out enough systems to have a functional team. If you’re not really a numbers person, I would recommend you hire an accountant as your first step in lessening your headache.
Ultimately, work is still work even if it’s something that you enjoy. To quote Garett from Superstore’s superb finale:
“You know, most jobs suck 99 percent of the time, so you really … You really gotta enjoy those moments that don’t. Those bits of fun you have during downtime. Or an interesting conversation with a coworker. Or something happens that you can laugh about later. Or you do something that you’re actually proud of. If you’re lucky, maybe you even get to be friends with a coworker or two along the way. Not sure what else you could want at a job…”
What we can do is lessen the headaches by working with other people who can fill in those gaps. I don’t like the stereotype that creatives need chaos to be creative. We are able to do the work — the hard, boring work — because we’re not babies.
You’re in the long game whether you like it or not
If you’re even considering starting a business, you have to play the long game. Being an entrepreneur is not a trendy thing. It’s not something that you should decide on like you decide on what’s for lunch.
You have to consider the impact that your business has not just on you but on the lives of employees, vendors, other freelancers and clients to some extent. Starting a business is easy — you just walk into your government office, fill up a form and pay the fees — but running a company is hard. You’re going to have cashflow issues. There’s going to be something wrong with the wifi or equipment. Something is going to break down or need replacing.
But if you make some good decisions, work with some good people, and keep going even when you feel like quitting, then you’ll reap the benefit of your staying power. When we think about strong leaders, we often picture a fiery and charismatic figure willing to jump into the unknown, but more than the power to push forward, entrepreneurs need the power to stay.
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I think that’s enough for this blog post. I started writing this with no real intention, but I do hope that it brings to light some of the hidden things of running a content studio. It has not been easy, but it has been rewarding.
Until the next time I find the inspiration to write (hopefully not in another 2 years), I wish godspeed to the risk takers, fellow itchyhands and creative troubleshooters.