Are you happy with the work you’re doing? You should keep track of the activities you perform on a regular basis to reach your business objectives. In this episode, you’ll get some amazing ideas!
Episode Transcription
Den Lennie (3s):
G’day, guys! It’s Den Lennie here, you might make for an up a bit better. Welcome to this episode of the How to Scale a Video Business podcast. Did you know, we are halfway through 2021? So we’ve just come off a coaching call and this was our quarterly planning calls. And what we’ve been looking at is primarily, you know, how your numbers looking for halfway through the year? Because whatever goal you may have set yourself, if you haven’t beat yourself a goal, what you should have done, uhm, is, but the halfway point, and so is a great time to measure how things are going.
Den Lennie (54s):
And you know, if you’re not tracking these kind of numbers, then it it’s a really good idea to start tracking them because you are in a growth in business from a freelance perspective, back in the day, it was always a bit, haphazard is always a little bit, you know, up and down. We often talk about the roller coaster or the feast and famine and its mostly because there’s no system and there’s no means of tracking. And so we’re a very big and the VBA at tracking and making sure that you are on target and that you are actually achieving the goals. You set up.
Den Lennie (1m 34s):
One of the biggest shifts you can make when you move from a kind of freelance mindset to a business owner mindset, is that shift towards not just kind of putting your finger in there and thinking, well, you know, what’s, what’s going to happen next. I hope if someone calls is actually to have some predictability and to see a sale, some sales targets of not just what you want to generate in revenue, but more importantly, what you want to keep in prophet because you know, this is the old saying revenues for sure profits at the door and meaning that, you know, it doesn’t matter how much money you generate over a year in terms of income.
Den Lennie (2m 18s):
It’s what you keep that counts. And if you spend too much, you keep less of it and they’re, if you’re not making enough profit, then, then you’re not sustainable as a business. And that was a huge lesson for me when I sort of a flick the switch from the freelancer mindset to more of the producer company are in the mindset and this is definitely a shift and look, none of that stuff is easy. Okay. Its simple, it’s simply that you have to set some targets and build the system for attracting clients into your business, nurturing them to learn, ready to buy, having a process and a script and a place to help sell those clients into the best possible offer you have that helps them achieve their outcomes.
Den Lennie (3m 6s):
And generally speaking, when that happens, you’ll find yourself all saw making the most money. So, you know, that process of tracking is very, very important and you have to do it monthly and, and then review it quarterly. So at the halfway point of this year, if you are not yet achieving the halfway point of your profit prediction or your goal then, and what you need to do is adjust the following six months or the next six months to allow for that. So if you were, you know, and a position where you were trying to achieve a certain number and you’re a bit behind than what you needed to do is add that on to the rest of the year and adjust your sales target accordingly.
Den Lennie (3m 50s):
So what, what makes this, and, and if you have achieved your halfway point goal, fantastic, a phenomenal book called great by choice by Jim Collins talks about the 20 mile March. And that is what you want to be achieving. You want to be achieving a nice, consistent routine number coming in every month. And I’m very pleased to see that most of my clients that are in that position because we drum into them, the importance of consistency, the importance of showing up every week, the importance of managing and tracking the right data and look at something you just learn like anything that you plan to collect. Great. It, you learned to shoot its just a scale. You learn a new business skill, but when you focus on the numbers and you focus on that, the growth and, and, and knowing what the numbers should look like, it kind of takes a lot of thing out of the equation.
Den Lennie (4m 42s):
If you’re a target is to get to, you know, a certain figure then umm, you know, you know, a month on month, how that’s looking. The other thing that we do is we evaluate, you know, you a strategic goals. Like what, what is it you looking to achieve this year? Maybe, maybe you want to work work four days a week instead of five, but maintain the same income. That’s something that my colleague and a client and friend Tim has done. He has three children and he wants to spend time with the kids and with him in gen the, the, the, the managers looking at the kids together. So 10 is able to work from PDD is walking three days a week. He has come back up to 40 is a week because he want’s to grow as business and, and their looking to take on our studio and I’m, and just have some growth.
Den Lennie (5m 26s):
But it’s a choice rather than a necessity or my client ban who has just want a massive contract and has hired a couple of team members. His daughter was six at the weekend, had a party. And as he said to me in the chat the other day, you said, you know, the groups who are quickly, that’s why I want to be able to be around, to enjoy that. And so many of our members have young families and, and a big part of our philosophy in our mission is to, too, to build businesses that create, you know, were not in the video or business salad where it doesn’t exist, just a purely to make money. I mean, you we’ll, if you join in, you implement the strategies that is guaranteed, but its more about it.
Den Lennie (6m 11s):
A conscious approach to fulfillment, you know, I just, yes. So we went down, we recorded episode 200 and the podcast we should be coming out next week. And I decided to just share my story. And I went there and I sat on the beach, which is 400 meters from my house and, and shared my story because its not something that I’ve done before that that’s coming out next week. So look at it for that. And but, but more importantly is our, you fulfilled in the work that you are doing. That’s a really important question to ask yourself, are you fulfilled? And the work you’re doing, our you fulfilled and the income that you’re generating from that work or are you not?
Den Lennie (6m 51s):
And its kind of a binary question either. You are, you aren’t, but if you are all power to you, fantastic, I’d love to hear your story. Let me have you on the show is a podcast guest. But if you’re not, I want you to ask yourself the question of why not are you someone who has spent an enormous amount of money on toys and buy toys? I mean gear and another toys and that, you know, when things were going well, you treated yourself to the very latest and greatest that perhaps things aren’t going so well now. And you’re staring at that gear with all been there, going on that, that didn’t actually bring him any extra work.
Den Lennie (7m 34s):
So, you know, I wanna, I always want it to be very honest in this podcast and talk about the reality, which is, you know, if you’re not achieving what you want, then you have to look in the mirror and except that you are responsible, nobody else it is, this is pure and simple that it’s confronting its hard, but there’s always the opportunity to change is always an opportunity to do something different. You know, they say the best time to plant a tree was 20 years ago. The very next best time to plan a tree his today. So if your not achieving the goals that you want and yeah, we want it to be, then you have a think about that.
Den Lennie (8m 14s):
And I we’ll see you on Thursday. Ask yourself, this has owning your own Video Business. Everything that you dreamed it would be when you first got started. It might be hard to admit, but think about whether you’re genuinely achieving everything you set out to. When you made that decision to grab the camera and go it alone, our you really working less or you really earning more. And our you really in control, chances are you’re bloody good at what you do, but you are having to work it like a dog 70 plus hours a week, whether its filming, editing, marketing, or any of the other jobs that come with being the big boss of your own video company. When your managing projects constantly searching it out for new clients and about cashflow, its easy to lose sight of the bigger picture or make real progress.
Den Lennie (9m 1s):
Let’s face it. That stress is the last thing you need. When you’re trying to run a profitable company that supports you and the people you care about. Truth is a business that provides a financial professional and personal freedom really is achievable, but maybe you’ve got that nagging feeling that you’re overworked, lacking stability and struggling to get to where you really want to be right now. It could be that you just don’t know how to make a positive change on your own. So I created a video business accelerator coaching programs to really supercharge your Video Business with these unique coaching programs, you learn all the tools we need to get complete competence and the success of your video business. You can take the first step on your journey to a successful business that doesn’t control your life.
Den Lennie (9m 45s):
Let me show you how head over to denlennie.com and click on Accelerator.
