Don't be like me.

Keep your wallet in your pants.

Photo by Victoriano Izquierdo on Unsplash

When I was in elementary and middle school Nickelodeon had a contest called Super Toy Run. Maybe you remember this. Taking place at a Toys ‘R Us, the Super Toy Run featured kids burning shopping cart rubber up and down the aisles, grabbing as many toys as they could within the allotted time.

I remember watching those contests and thinking to myself, “Wow, I wish that could be me.” I mean, what kid wouldn’t want free rein within a toy store for the chance to take home as much stuff as they could grab?

Well, the toys may change¹, but that urge to have and to have more never really goes away. Look around and you will always find those who have the latest-and-greatest product; the privileged who seem to have it all. And it’s hard to fight that urge to get out your own credit card and follow suit.

And it’s easy to justify those large expenses when you’re in the video production business. After all, if you’re going to be competitive you have to have the latest camera, the most cinematic lens package, and the largest selection of lighting gear possible. Otherwise, people won’t take you seriously and you won’t land the job.

That’s certainly the way I felt when I was in my early 20s and trying to make a go of it as a freelancer. I needed gear that immediately announced “PROFESSIONAL” when I arrived at a client’s location. And at that time, it was the Canon XL-1s.

It was my workhorse. And I bought it because it was a MiniDV prosumer camera that actually had an interchangeable lens system (even though I never could afford a second lens).

So, I had the camera, but then I needed better camera support…

…and extra batteries

…and a pelican case

…and monitors

…and a light kit

…and reflectors, stands, flags.

But then Panasonic released a game-changer of a prosumer camera, the DVX-100, the first of its kind to shoot actual 24 frames per second to MiniDV tape.

Then Canon released an HD version of the XL-1s, the XL-H1.

Then Panasonic released their HD camera the HVX-200, with proprietary P2 cards which cost around $700 per card (give or take, depending on the card’s storage capacity).

You get the point. It never stops. Constantly chasing after the latest-and-greatest is a never-ending pursuit, because that camera you bought just 18 months ago has already been replaced by something else.

I think Van Halen said it best in their iconic song Right Now²,

The more things you get, the more you want

Just trade in one for the other

But at the time, I looked around at the other seasoned professionals in the market and had to have what they had. I believed that I had to be ready at a moment’s notice, so that if a client hired me at 11th hour for a shoot the following day, I would be prepared. And I guess there’s some truth to that. Clients will sometimes call, looking for a video producer at the last minute, but I could count on one hand how many times that actually happened to me.

I was too busy trying to compete; too busy trying to keep up appearances. I wanted all the gear. I wanted the office/studio space. I didn’t stop to think that maybe the people I compared myself to were a lot further along in their careers and that I needed patience.

Patience. That’s a big lesson I know now that I wish I knew then.

I put a lot of money into gear and office space; money that my wife and I needed… you know… to live. Sure, there’s the old adage, “You gotta spend money to make money,” but you can only live in the red for so long.

Ugh. I could kick myself now. If I had taken the time to find a mentor; someone who had done it all before and could guide me, I could have taken a different path and found a better use of that money. For starters, I could have invested it in training to improve my skills, whether as a shooter, editor, or both. I could have taken more sales and business classes to learn the ins and outs of actually growing and maintaining a business.

Instead of buying gear, I would rent for as long as possible. There are definite benefits in going this route:

• Flexibility - You can be sure to get the specific camera package that best fits the job.

• Modernity - New cameras hit the market on a regular basis. Renting, rather than buying, means that you will always be on set with the latest camera package.  

• Experience - When it finally comes time to invest in your own gear, you can make a more informed decision about what you want to buy, because you've already had hands-on experience with what's current. 

• Savings - Since you aren't spending your money on expensive gear, you are free to invest it in other areas of your business.

And I would tell myself not to worry about those calls that might pop up when a client is looking to hire someone for the very next day. Those jobs are very rare, so it’s okay to risk out on losing that kind of job for the long-term benefit of saving money.

And who cares if you don’t have an office or studio space in which to take meetings with potential clients? You don’t need a lobby stocked full of Telly Awards to impress people. You need confidence, passion, and a vision. Clients will pick up on that. So meet at a coffee shop, a co-working space, on Zoom, wherever.

I can’t go back and change the decisions I made then, but I can write them down here so that you can read about them and make better choices for yourself.

A lot of motivational speakers, career coaches, and self-help gurus might tell you, “Be like me!” but here I am telling you to do the exact opposite, “Don’t be like me.”

Money always burned a hole in my pocket and I was always eager to spend it on something. So, if you have an itchy trigger finger when it comes to purchases, holster your wallet. Resist the urge to draw. Otherwise, your small business might be lying dead in the street.

1. Today, I would love a Costco-sized shopping cart and free access to everything inside B&H.

2. For a trip down memory lane, here’s the Right Now music video.