Everyone loves show business, but very few actually understand the business part. Launching a production company in Hollywood means that you intend to run a content business that will control its own product, which essentially becomes the film or television show others watch.
If the words show business, production company, or Hollywood made you stop and think that the following advice may not apply to you or your business – keep reading.
Every project in Hollywood is a business. Literally, every television show or feature film is usually produced under an LLC.
As a small business owner in the beginning stages of my next chapter with the launch of my own production company, I have to think about my overhead (salaries/employees), product (projects), and operations (divisions).
Operations is an element of business shared by all entrepreneurs, and one of the most important. If you don’t have smooth operations, the product quality suffers and ultimately, so does your bottom line.
With this in mind, I’ve broken down how any small business owner can go about executing smooth operations by using principles for a business roadmap, division of responsibility, and expansion that I have myself seen success with. Let’s dive in to share six of the tactics I found to be most helpful in building a profitable business.