The last two weeks I've been feverishly working on a business investment budget, cutting it down severely, and visited a local charity organisation to create a promotional video for them.
I started with close to R100,000 investment in gear alone, that's at the current exchange rate about $10,000US. In addition there was an equal amount in working capital to carry the loan installment plus initial running costs of getting my production company off the ground. I have severely cut it down by 40% in gear acquisition, the working capital pretty much stays constant though, although with the reduced gear purchase, I have about two years of leeway to get this thing rolling. I have yet to fully commit to this course of action.
A close friend of mine started a business a couple of months ago, buying into a rental franchise. It is working quite well and he offered me partnership to be able to build his business and be able to go away for a long weekend per month. He read a business tip that stuck with him regarding building a business, and there are two ways of doing it, I forget the first, but the second is "get a business partner".
It is a great opportunity however it will require, over the period of a couple of months, the investment of at least R300,000 plus, actually closer to R400,000 if we really want to push the business to be able to run quite well, or give s sizable return if we sell it off.
Few things have happened recently that changed I think both our initial views. Stories for another time, however rest assured, nothing bad between us.
The charity I'm visiting is Lake Farm Center, and charity created about 50 years ago for adults with learning disabilities who require care on a daily basis. Interesting setup as the members for part of a productive community, doing gardening, cooking jams, creating arts and crafts. Times have been tough on the center, a drought a couple of years ago also reduced the number of cows they had on the farm to a handful, which also killed the dairy income they generated.
Why am I there? To start this whole business, or help give it a start. One thing one must never forget in this industry, or other industries for that matter, is that the more you do the more you learn and the more you do, often mean the more you get in contact with people who take notice, be it your work is good or bad. This is important in business as it is more important who knows about you, that who you know.
Think about it, you could know a lot of people or a handful, chances are you'll get more business if more people know about you. Yes, having friends promote your business does help, however it gets back to that basic principle, who knows about you. Visiting Lake Farm and figuring out what stories I'm gonna tell and how I'm gonna tell them, also helped significantly in reducing my perceived needs for the business purchase.
Have I named my production company yet? No, not yet. I'm not entirely sure on Wetplate. But I'll likely get it anyway, it is just that I saw another cool business name and now I wished I had something similar. Alas, the mind reeks with creative indecision.
Oh, this week I'll also let you know about the LED panels I'm likely acquiring, its been exhaustive given I'm not in the fortunate position to try before I buy.