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Posted by Steve Guidry on 10/19/29 11:29
In my experience, the $1k per minute figure falls apart as projects get
longer. That's because it usually takes comparatively less additional
resources to produce the longer videos. Here's what I mean : The camera is
there already. So what if you shoot for 3 hours or 6 hours. You're billing
for a full day anyway. In the edit process, much of your work is in
defining the piece's overall look and feel - - getting the show's graphic
elements' "style" just right. Going through all the approvals for that . .
.. When it's done, it's comparatively little additional work to just create
a few more lower thirds, or even full pages.
On this project, I'd try to make a careful evaluation of the actors'
abilities to carry the piece for 30 minutes of talking. Unless they're
professionals - - that is to say if they are folks from inside the company
who have been tapped to be the talent - - I'd build in 2X or more cushion to
give them time to get it right. Be aware that often there are internal
political reasons for choosing the talent, and you can't just fire them.
Also, be sure to ask if the approval process has changed since last time;
Ask "Who has to approve the final project ?" If there are 2 or 3 additional
people who didn't have to sign off on the last one, then add 25% or so,
because each of them likely has their own agenda about what the video should
contain and look like. Especially be wary of "higher-ups" who want
approval but somehow can't make time for the planning process. I usually
add 50% for those folks, and it's not enough. They're the ones who will
have you starting over from scratch.
Finally, if you at all can do so, insist on a graduated payment plan : 25%
of the initial estimate upon script completion/approval; 50% upon completion
of the shooting, and the balance upon completion of the edit. There's
something about having already paid for it that makes a customer more
flexible in their demands for changes. And the converse is true as well :
It's a lot easier to tell them "OK, these changes are do-able, but it's
going to cost you $XXX more . . ." when you only have the last 25% riding
on their answer. Deal with them from a position of strength. If you think
they won't go for a graduated payment plan, try this approach : "You know
John, that previous project was small enough for me to finance it for you,
but this one will take a lot more time and resources on my part. The
pay-as-we-go approach allows me to give your project the focus and internal
priority it deserves instead of having to chase other projects to pay the
bills for the next 2 months while we're working on it." You'll probably be
surprised how well they will understand this.
More later if the interest warrants . . .
--
Steve Guidry
Video Works, Inc.
Live events for TV and Video
www.videoworksinc.com
800.844.4404
> Thanks Steve. I do appreciate it. Unfortunately, due to my mistake in
> the price of the first project, I find myself where I was this
> morning.
>
> Here's the deal: I repeatedly here the cliche that industrial
> corporate stuff should cost at least 1k a minute. Many say this is far
> too low. Now I have to do 60 minutes worth of video. So, if I use the
> rule of thumb that's 60k. Yet I don't see how the project could
> legitimately cost the client even half of that. (See my first post to
> see a description of project.) I did a run-through on the budget work
> sheets and 30k would be very generous indeed.
>
> I want to charge a fair price, of course. But I certainly want to
> myself as good a job as possible.
>
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