Investing In Your Personal Media Company

I heard an interview with Seth Godin the other day and he was highlighting this often-repeated point – that almost everyone carries around in their pockets a full multimedia studio. His stated view was that all smartphone users are owners of their own media company.

We all shoot film, snap pictures, and compose text. But are we really a media group?

I guess not if we choose to keep our creations to ourselves. However, as soon as we decide to share it with the wider world, such as through social media, then I guess he has a point. After all, we usually refine what we share. We decide what and what not to publish. We proof text (some of us more than others, looking at myself by the way!), filter pictures, edit video and handle public relations – replies and DM’s.

This all got me thinking about production value. I’ve been thinking about setting up a YouTube channel in conjunction with my blog. Which in essence is taking the personal media group to the next level. So, would I now need next level production values? Or do I begin by using my iPhone rather than investing a small fortune in setting up a home studio?

Many would say don’t spend the money when you can just start with what you got. See how you go, see if you like it. I totally get that. I’ve learned the hard way with many hobbies; I get super excited at the start, go out and buy all the gear, then lose interest, or realise I’m not that great at it, then I’m that guy who has all the gear and no idea.

But when it comes to YouTube or Podcasting, I think there is a lot of value to be gained by investing in the production value from the very start. Here’s why:

Firstly, we are so used to super sharp video/audio and crisp editing. Our eyes and ears are so accustomed to it that when we see a quickly put together smartphone video on YouTube or a podcast with excess static or plosives it can jar. If we want to keep our audience, we need to make a great first impression – we only have about 10s.

Now you could argue that there are some people out there just using their smartphones and they get an audience. And it’s true. There are some. But in most cases, the creators that are successful have a great aesthetic and feel to their channels along with proper lighting and sound. Using your smartphone can work, but it requires a lot of creativity and copious amounts of ingenuity.

Also, with the internet there is nothing new anymore. So most likely you are doing something very similar if not identical to some other creator. To stand out you will want to look and sound good, otherwise they will just watch or listen to the competition.

Secondly, by investing at the start of your project money is on the table. And if you are anything like me, that serves as motivation to make a success of the project. You have skin in the game. You will find ways to make it work.

Either way you oversee your own media group. Nonetheless if you aspire to make it into a business and importantly if you can afford it, investing at the front end is the way to go.

The beauty being that this is a one-off initial investment, and you won’t need to keep buying better gear as you go along. Like most things in life unfortunately you get what you pay for. It can be a false economy to buy cheap and upgrade. Because you have the upgrade costs plus the “cheap” initial buys. Investing well at the beginning will only cost you the upgrade.

Worst case you can resell it all. Win – Small loss. I think that’s a fair risk to take.