Loading...
Answers
MenuI'm looking into opening a video production company in both UAE and France. How do I test/research the market to know if this is a relevant idea?
Any thoughts or advice would be greatly appreciated.
Answers
Find a business similar to the one you wish to open. Speak to the owner and make a wholesale pricing agreement. ie: he gives you a discount and produces work for you that you provide to your client.
Go find customers and sell the services. If you can sell enough services for it to make sense to start providing the service yourself then grow into production.
If not, you haven't risked anything more than a lot of your time.
Whether you are great at video production or not, what matters is that you can generate enough sales for your business to be successful. Testing your sales ability 'in the trenches' is a much better measure of potential success than most market research I've seen.
Thanks
David Barnett
www.InvestLocalBook.com
I have looked into the same things for certain parts of Mexico and Japan, both places I currently have a small but stable presence (I am a Canadian, main studio is in Canada). First, do you speak the language(s)? If so you are in a good spot. If not, you would be relying on expats and only international corporations until you get established, which could take years. Do you have a specialty? If so give yourself an hour or two to see who does what you do in France and UAE, but does it better, and with better equipment. If you can provide a product that is cheaper than the competition that is stronger than you, you have a chance. If your rates are similar, the locals will usually always have the upper hand. The only exception that I have seen thus far is when the foreigner comes in and sets themselves up as an artiste, and markets themselves as a mysterious and desirable foreign option. This works well in the still photography world (especially fashion photography), but it is much harder to pull off in the video production world. I hope that helps!
This sector is already quite competitive in UAE. I am sure it wont be easy in France either.
What is your USP?
What specialty can you target?
What is your past track record in this field that makes you stand out?
What is your past track record overall in both of these locations?
What size of setup are you planning to start with?
Do you have the required capital available to sustain you for 12-24months if the cashflows do not turn positive?
Do you have your key team members already identified and ready to join you?
These are few questions to get your research going.
Feel free to contact.
If your idea turns out to be viable, then let's discuss branding for the video production company.
Name selection and domain procurement do matter. You want to portray the brand in the right light, position yourself for marketing online and offline, and protect the brand from competition and infringement.
This would be an interesting case for me to work on, given its dual markets (France and the UAE). Having studied Arabic, helping more brands succeed in the Middle East remains a goal of mine.
Related Questions
-
What are the affordable video hosting services similar to vdocipher, that provide encrypted video streaming options?
I would recommend that you check out http://wistia.com/ - I use them for all my videos. Public and privately.TM
-
How to batch watermark videos on a Mac faster than real time?
I remember that Adobe Media Encoder used to have options for water marking. Check that and possibly, but unlikely Apple Compressor out. Hope that helps!CM
-
What is the best way of coming up with business name ideas?
A good name is unique, and stands out but should ideally create a positive association with it, especially your target demographic. When it comes to naming new products, companies will spend sometimes months and go through thousands of options before arriving on the one that they'll ultimately go with. Don't rush this process because its ultimately much more costly to have to go back or change, or ultimately fail because the name did not resonate enough with your target demographic. The name is not everything but it's a huge part. Go to techcrunch or cruncbase and look at any number of new start ups which are probably all great ideas or products but because they have either a dumb name or a not so unique name, they can fail. My personal pet peeve is the stilted and formulaic neologism of adding "ly" at the end of any noun or verb---perfectly hilariously noted throughout HBO's Silicon Valley. At this point, we are all more clever than this. Anyway, when you have only seconds to make an impression on a consumer, the last thing you want is cognitive dissonance caused by the name. Cognitive dissonance occurs when the signifier is not what is signified and vice versa; you're looking at a bicycle but someone insists it's a fish. And you're like, wtf. This happens when you're looking at a great product but then it unexpectedly has a weird or dumb name, a range of slight neorological impressions then occur, effecting the emotional relationship between consumer and product: confusion, annoyance, distrust, etc. All of these slight negative responses are not what you want associated with your product when you only have seconds to make an impression. That's why a good name matters. Now to your name: Dude Undies. Scrap this immediately. First of all, when it comes to men's underwear (I'm assuming this is your product), this is dangerous minefield territory because whether you like it or not, you're automatically dealing with issues of male insecurities involving self worth, virility, potency, etc Some light word association exercises (maybe among your friends) might be helpful in yielding an alternative to "undies" which i associate with: children, bedtime, potty training, etc.Absolutely not what men want to be wearing. You can see why this word next to "Dude" is cognitive dissonance in and of itself, never mind your product. I suggest you go back to the drawing board on this. Think about what makes your product different from your competitors', what value are you bringing to the market? Play with these ideas make a list of at least 50 words (thesaurus.com is very helpful) find a word or words that at least create that same impression. From my own observations, I've found that men love products with as few syllables as possible. If this is too daunting for you, enlist the help of a good copy writer with experience in product naming (I know a few if you need one), they should be able to give you a list of ad campaigns that they worked on. Paying them $100 for a good name is worth it in the long run. I hope this helps, best of luck to you!VG
-
What is Xiaomi truly selling?
Assuming links work here, a couple good articles: http://www.techinasia.com/xiaomi-reports-monthly-revenues-49-million-miui-android-ecosystem/ http://thenextweb.com/asia/2013/09/06/heres-why-you-should-care-about-rising-chinese-smartphone-firm-xiaomi/ http://www.rioleo.org/xiaomi-miui-and-the-android-ecosystem-within-china.php In short, everyone wants a piece of the ecosystem game. Some is poorly thought out (Leap Motion is doing it badly) but for the core concept I refer you to Motorola's mobile phone business. Several times they have been the absolute dominant force in the industry. But, when you sell consumer hardware only, busts can follow booms. And did for them, many times. An ecosystem means ongoing revenue, not just periodic hardware sales. It means secondary market sales are the same to you, as the ongoing revenue is what you want, and it means increased stickiness. Apple lives by this, and embraces their customers being stuck on their products. There is almost no such thing as an apples-to-apples comparison consumers can make when the get used to your ecosystems. Perceived or actual switching costs muddy the waters for them, so you have them longer. Xiaomi is getting this sort of loyalty. There's other interesting issues having to do with their market. Play store, for example, is not really a thing in China. I can go on and on about this, so ask me if you have additional questions.SH
-
How to decide stakes in a partnership?
The best way to test a person's talent is to put them to work in the reality of your business. If these folks are all onboard for being partners, promise to give them a cut of all deals they bring in. Structure the plan so that the contract lasts three months. Then, let them prove themselves and show (not just say) they really mean it. Make no equity promises until you can validate their claims. What if someone balks at the offer? I'd imagine these folks will have main jobs during the testing phase. If they scoff or refuse, then you've won immediately. If they aren't willing to hustle a bit extra for a few months how in the world could they do this for many years ahead within a successful partnership? Why three months? People can fake their behavior for quite a bit of time. At two months people can't help but being themselves. You'll get a taste for how they work, they're ability to close, and their personality. Personality is the biggest factor, as they may do a great job bringing in business, but be simply unbearable to work alongside. A note of caution around the Head of Marketing SME: this person sounds like a problem. Are they acting immorally towards their current employer? Check, stealing business. Are they sure they can do it on their own, but for some odd reason never have? Check. Are they requesting for more stake than they deserve? Check. These alone are reasons to run. Immoral, unproven, and greedy at the start. To me, you sound like you need to hire a commission based sales person. Give them a stake of each deal. Don't give up equity for something like this. This company is your baby and equity is a last resort.JF
the startups.com platform
Copyright © 2025 Startups.com. All rights reserved.