I’ve been very fortunate in business. Since I first started Edit Creations in my basement in 2003 I’ve been blessed with having multiple clients follow me into business based on our work history together and friendships. And over those years, word of mouth has filled in the rest of the time. Within the first 5 years business grew from me working in my basement to having a 2000 sqft office with multiple edit rooms, vo booth, graphics, travel gear and 4 employees. Things were going great. Then, the fall of 2008 hit.
At the end of 2008 work dried up and 2009 was the most difficult year since the business was started. During this time a few things happened that changed the way I looked at my company.
First, I didn’t lose any clients. I still had the same clients that I’ve been working with for years, in some cases close to 15 years. The problem was that those clients were no longer getting the jobs they used to. Projects were being scaled back, rescheduled or flat our cancelled. In one case a job that was normally 4 weeks of editing in 2 suites (a job that we received every December running into January) just went away and has not yet returned.
Second, for the first time in my career I was faced with having to find new clients. Two years ago I would have said you were crazy if you told me to go out and find new clients. I was already working 10+ hours a day and the thought of looking for more work seemed like self abuse.
Third, I realized that you can’t count on jobs that are promised to you, even if you have a long standing relationship with those clients. For example, in 2009 there were no less then 3 major jobs (one a broadcast TV series) that were promised to us. In one case actually scheduled for the last half of 2009. “Great!” I thought, the year is covered! The pressure is off! And then, one by one the projects just went away, in large part due to the economy. So I was left with open edit suites and very little work to fill them, but the same overhead as if it was business as usual.