A short advisory YouTube monologue (Eric Deeran) arguing that the single most important determinant of success in a video-production business is who you choose to serve. It recommends targeting high-margin, service-based businesses (e.g., solar, roofing, medical, med-spas, chiropractors) because their higher customer lifetime or transaction values make it easier to justify premium video prices and scale profitably.
The clients that you target to serve in your video business is the determining factor of whether or not you're successful. Because if you're targeting the wrong types of people, you're going to work super hard, make no money, and it's going to be a ton of stress. If you target the right types of people, then you make more money and you're able to actually scale and have more profit in the business. And so what you want to do is you want to target service based businesses that have a high margin. So people who sell something for a lot of money, so like solar companies, roofing companies, home service companies, medical companies, med spas, chiropractors, anybody who sells something for a higher ticket of amount of money. Because then what I can say is, I could say if I get you one more client with this content, would it be worth it? And if one client is $10,000, then it's a lot easier to charge $10,000 for a video rather than the coffee shop down the street that makes $5 per customer.
