Anyone own a Media Company? Looking for Advice

3 replies
Hello all

Me and my partner are seriously looking to start up a media company. We have access to all the equipment we need and are skilled in digital design as well.

We're looking to find ways we can monitizing this business utilizing our skills and equipment providing local clients with our services in extange for certain profit

we need some advice on someone in the media business, (or someone whome knows someone with a media company) on a few things :

How and where can we score big (or small) clients? (e.g coka cola, samsung)

What kind of services would be the most profitable for a media company? ( music videos, commercials?)

What should we be charging our clients?

Should we rent out an office or keep it in our homes?

We're looking to start this business as early as next week so any advice would be most appreciated.

Thanks
#advice #company #media
  • Profile picture of the author sdentrepreneur
    I started my own Marketing Media Company in 2008, then trained a boutique Agency in 2010 for two years and helped them manage all their accounts.

    Here are some quick answers to your questions.

    How and where can we score big (or small) clients? (e.g coka cola, samsung) You will have to start on the smaller clients and build up your companies resume and client list before you go after the big accounts. My suggestion, would be to hire yourself as your first client, if you can't do it for your own business, how can you ever convince the smaller or larger companies to hire you.
    I landed my biggest clients at high end Networking Events, Charity Events and Chamber of Commerce Events.

    What kind of services would be the most profitable for a media company? We sold mostly Social Media Marketing, Search Marketing, Web Design and Content Marketing. We did have to look to outsource our video marketing, so that might be a place to start, reach out to other Agencies that don't handle videos and commercials, get on their vendor list. ( music videos, commercials?)

    What should we be charging our clients? Can range from $1,000.00 to $100,000+ Would need more details.

    Should we rent out an office or keep it in our homes? I would suggest an office or a shared workspace. I currently work out of a large coworking place. They have places to hold meetings and you might find some clients that also work there.

    Goodluck with your venture !!!
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  • Profile picture of the author vndnbrgj
    I know others might disagree, but I think you should start with small businesses as well. For the same reason, to build a portfolio.
    The most profitable would depend on your individual business. It woukd depend on your strengths and weaknesses. Also, price wouldn't matter much if you niched down.
    For example, if you were the go-to company for music videos. Or even country music videos. You can charge more. Your pricing is dependent upon the value of service you provide. I can't tell you, but you should check out the competition.
    Personally, I would work out of a home office for now. I would rather use start up dollars for marketing vs office space.
    I am trying to find a company to help me shoot a pilot, the results have been terrible. A huge lack of communication. Make sure your communication skills are top notch.

    As a side note, you could try to sub from larger companies.

    Find your niche, and you will find your answers!
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  • Profile picture of the author iAmNameLess
    My question to you is.... how do you expect to compete with the major ad agencies who can easily spend 50k on just a presentation to win a company over?

    My advice... you're not going to make any money on media buys, you don't have any connections like major agencies do so there is no incentive, your best bet would be to get freelance work through those companies if you're wanting to do commercial production.

    Digital is probably the most profitable for you, and probably the best way for the company to show ROI.

    In my opinion, you guys really need to probably freelance for a larger agency before you can really be serious about this on your own.
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