Some important things to know before you start a production company of yours!
Before we plunge in to the pool of starting a production company and making it a big success, let’s face the fact that starting the company itself is not easy. There is plethora of media production companies in the market not only offering neck to neck competition but also offering some of the most unique and creative services to the clients. So before you think of starting your own company, you should be prepared for the cent percent hard work and dedication you will be required to give.
We have come up with a list of few things, considering which can make running of the company easier.
- Know what you want to do: media is a vast field and there are n numbers of things on which you can try your hand. Whether you want to be an Ad film maker or work in films or explore other aspects of the industry, you should be very sure about what you want to do before you start the company. It is always better to write down your short term and long term goals and keep revising it as you move forward in the venture.
- Know your surrounding: it is not only important to know yourself, but it is also very important to know your surroundings when you think of opening a media production company or a film production house. You should do an extensive research about various production companies around you. Apart from that a detailed study about what good and bad great film makers have done can also be of great help. You should know what services your competitors are offering and at what charges.
- Creative name is very important: Name of the production company is very important as it is going to become your brand in future. The name should not only be creative but it should depict your business values and goals. You can use your name, name of a project close to your heart or any other thing as name of the production house but in the end it should lie out of the league. Having a hidden message or a hidden meaning in your company name is an in thing.
- Make sure the name finalized by you is legal. Once you have finalized the name of the production house, next step is to get it registered. Though it sounds to be a simple thing, but there is plethora of companies in the market with plethora of names. Any resemblance can create problems in the process of registration. Recheck your name on the internet before you go for registering the name.
- Hire a certified chartered accountant for your company. You will definitely not want to focus on the creative aspect and the financial aspect of the company all by yourself. It will be better if you hire a certified CA who will not only look after your company accounts and other legal and financial matters but also give you right guidance when the tax season comes.