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Thinking of getting into the
voiceover business full time, specifically, opening your
own in-house voice-over studio? Good for you! It’s a
really great way to make a living!
OK. You’ve got the dream.
Now let’s see what it takes to make it a reality. First
question for you: What do you think is the most important
thing you need to launch your business? A great voice?
Surprisingly, a great voice isn’t all that important for
success. Talent? Well, yeah, you’re gonna need some
talent, but talent (in most cases) can always be developed
through study and practice. Determination? Sure, but
simple determination won’t make you a success.
THE SECRET TO SUCCESS
So, what’s the most
important thing? Get ready. It’s called…a plan. Yup. A
plan. Not very “show bizzy,” huh? No, it isn’t, but
it’s the most important piece of the business start up
puzzle, and it applies to every type of start-up, not just
voiceovers. Now, before we talk plans, let’s talk about
the second most important thing you’ll need for
success—money.
IT TAKES MONEY TO MAKE
MONEY
A lack of capital, seed
money, whatever you call it, is the overwhelming reason
most business start-ups fail, including those with a plan.
You’ll need enough money to pay for equipment, marketing
materials, office expenses, insurance, utilities, etc.,
etc., while you’re waiting for the checks to come
rolling in. Oh, and just to remind you, you’ll need
money to live on, too. How much money will you need for
the business and living expenses? We’ll get to that
shortly, but first, let’s talk about your plan.
A PLAN BY ANY OTHER NAME
Call it a business plan if
you like, but that tends to sound a little intimidating
and, frankly, overwhelming. Call it your “plan for
success,” or “my freedom from oppressive employers
plan,” you know, something more self-affirming and
inspiring. Whatever you call it, your plan should include
the following points…
- The voice-over services
you will sell and to whom you will sell them. You
probably have, or will have, a particular strength,
e.g. characters, promo/imaging for radio and TV,
corporate narration, animation characters, hard sell,
etc. Accentuating your strength and marketing it to
the appropriate clients can lead to more gigs than
just a general scattershot approach to all possible
clients.
- The revenue needed to
stay in business for six months, one year, and beyond.
What do you earn now each month? What will you need to
maintain your current lifestyle? Whatever the figure,
it’s the amount you’ll need in the bank or coming
in from a second full or part-time job for at least
the first six months in business, if not a full year.
Reason? There’s always a delay between the starting
date of your voiceover business and when money
actually starts coming in.
- The amount of capital
(seed money) needed to start up and keep the business
afloat. This is operating capital you’ll use
exclusively to fund the business for the first six to
twelve months. You’ll need enough to keep the
business afloat until you break even then start
earning money, instead of just paying it out in
expenses.
- Short-term goals to get
your voice-over business up and running. Typical short
term goals include: getting your demo(s) done;
selecting, ordering, and installing your studio
equipment; deciding where in you home to put your
studio; deciding how to make your studio decent
acoustically and installing the acoustical treatment;
designing a logo and stationery, and ordering them;
locating contacts to whom you can send your demo(s);
setting up your bookkeeping system (QuickBooks is
excellent. www.quickbooks.com);
getting health coverage and property insurance to
insure your equipment; deciding if you’re going to
buy an ISDN unit and installing an ISDN line; ordering
marketing materials, like postcards to send to
clients.
- Long-term goals,
including future revenue goals and funding your
retirement. How big is your dream? How well do you
want to live in retirement? Determining your long-term
goals will guide you to the actions needed to attain
them. Consult your accountant. If you don’t have
one, be sure to get one.
That’s enough to get you
started. There are plenty of books on voice-overs to help
you complete your plan. Visit your local bookstore or go
on-line.
As you can see, you can
start your voice-over business part-time or full-time.
With a little planning—and seed money—you’ll be on
your way. Have fun!
July 2004
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About
The Author
Peter
Drew, a freelance voice-over talent and
copywriter/producer with 28 years of
experience, is heard on radio and
television stations, corporate
presentations, web sites, and
messages-on-hold across America. To hear
samples of his work or to send an email
regarding this article, please visit www.peterdrewvo.com.
pdrew@portone.com |
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