I think money is a huge stumbling block for content creators.
They think that if only they had more money their productions would be better quality – or they could market better. Lack of money is definitely a problem for most of us creating new media. So we try to keep our financial costs low.
But there are more costs than just financial.
Good producers and creators keep their financial budget to a minimum and spend very little money while keeping production values as high as possible. Great producers and creators keep all their costs in check often times increasing their production values.
There are four basic types of costs.
1. money
2. time
3. cognitive stress (brain power)
4. physical exertion
The highest cost to you is what you have the least of…
If you have all the time in the world – time is a low cost for you. Obviously this is not rocket science. But I say this because people get hung up on money so much. There are other costs to consider.
Your goal is to reduce the costs in each of the four areas.
As a media creator it does you no good to keep your financial costs low and spend a lot in time or physical exhaustion. You will burn out – become resentful – or just plain lose interest or passion for your project. Sit down with your team and sketch out the real costs in each of these four areas.
Map out your cost lowering plan.
If you have limited time – look into bringing more team members on board. If you lack creative ideas (cognitive stress) then find others who can be creative for you. It may take some creativity and imagination.
So what costs you the most during your productions and creative process? How do you deal? I’d like to hear what you think.
