Freelance Productions fast, good and cheap

The world of video production is a constantly evolving machine due to dramatic advances in technology, but some argue that the floods of new video production are doing more harm than good for industry professionals.  Message delivery has also moved more toward video and social media than any other mediums in recent years.  This advance allows brands to connect to their target audiences on a more personal level and if created in an effective manner can become viral and take the brand to new heights.  Websites like YouTube, Viddler, Facebook, Twitter and Vimeo allow video sharing to become easier than ever, but at what cost?

As a recent graduate and full time producer I come across clients that was things fast, good and cheap.  When you are fresh in the industry this seems like an easy enough thing to do especially when you are talented and excited to add productions to your portfolio.  Stop this is never a good idea, because you will loose every time if you agree to these terms. There is no such this as a fast, good and cheap production.  They don’t exist. 

In recent years employers have discovered the loophole in lowering costs while growing their return on projects.  Author Robert Greene refers to this in his book, “the 48 Powers of Law” as “Get others to do the work, but take all the credit.”  Freelancers account for a third of the US workforce.  Due to a struggling economy people are willing to be freelance although they do all of the work, but get none of the benefits of full time employees.  This allows employers and clients to make more while they pay less.  When evaluating bids for clients many freelancers forget to pay themselves.  This rate calculator can help you decipher if you are getting paid what you should or simply taking a loss on the production. 

One simple way to evaluate a project is to decided weather it is worth your time by realistically evaluating your costs and time you will invest in the project.  In 2010 design creative Hoss Gifford released and article titled, “Fast, good, cheap.”  Although he was not the originator of this theory, his tale “some clients are evil and their work is toxic,” is a great example of how these types of jobs will poison your success as an industry professional.  Like anything else in life a relationship with your clients or employers should benefit both parties or animosity is bound to occur. 

Greene states in his fifth law of power that “so much depends on reputation guard it with your life.” This includes under cutting costs to get a job, because it devalues your time and talent.  Once you are known to lower rates people will always look for that deal even when they have the needed budget.  Every product produced should represent the best of your work.  If you can’t do it right, don’t do it at all.  No job is worth your reputation.