Possibly the most mature and important video for filmmakers on RUclips at the moment. Even if the content may have room for some variation the principles outlined are so critical to longevity and a career mentality. Great to see. Thank you
I love how the video is structured from small things you can do to save money into doing one of the big steps, which is investing. Embarassingly, I started being more serious about cashflow, savings, and emergency funds not until recently so this video is a great reminder. This topic is something not many filmmakers on RUclips discuss. Your topics are so relatable to those starting out and also to those who have been awhile in this game. Keep being you! We really appreciate the content you put out!
This tips are truly amazing man. Found your channel about a month ago and checking out every video you put out. Love the content and the way you deliver it. Thanks for getting it straight to the point with no unneedet fill ups. Even if i almost do everything you just said, its great having it as a reminder and getting another perspective on this toppig. Great work thanks for sharing this important content!
I'm going to be using your 3 month rule. So much money blown on gear...even if I truly need it, I've still spent A LOT in times where I shouldn't have and it's bitten me in the butt.
I'm one the rare people who are really interested in both filmmaking and finance without working full time in either. One thing I would add to the list, and this is after you have both a rainy day fund and a few months of living expenses saved up, is investing dividend paying stocks. It gives you little extra money during less busy periods. It's probably not going to pay your rent, but it's a bit of extra money in your pocket when you real need it.
Just found this channel and wanted to thank you, in a sea of contrived and uninformative filmmaking videos your work really shines through. I deeply appreciate how clear you are and how clear it is that you are trying to convey the most important information in the most concise way. As a completely self taught working videographer this channel is a god send.
Luc, this is so timely! Great advice. We just liquidated an asset to pay off debt (a percentage of which came from gear purchases) and I plan to stay debt free so we are agile enough to take jobs and opportunities where they arise. Keep up the great and relatable content!
@@LucForsyth not nearly as much as I appreciate what you’re doing here. I couldn’t have found this channel at a better time! Move over Mark Bone (I love mark bone). But this channel… 🔥 🔥 🔥
I'm surprised you didn't mention purchasing used gear instead of new. In another video, you said you've only purchased one new camera. I know a lot of production guys that also diversify their incomes. They have a side gig to help fill in the down times. Anything from owning rental properties to helping load gear and fill up the trucks with fuel at production rental houses.
Excellent channel Luc, loving your videos and I've already went through half a dozen in a day! It's obviously your channel is going to grow if you keep up this straight forward approach with valuable info, it's super refreshing and relevant! Cheers!
Love all your content! We have a few months saved up but I also have a retainer client that I work 1 day a month shooting some testimonials. We film them all in 3-4 hour evening window and if I have a more significant project come in we can usually move the date.
Such a great video! Actual practical advice that is tangible rather than, “how to make £10,000 this month with you camera” videos. Thank you so much! ♥️ I’ve just discovered you and love you already!
I've been a business owner for about 25 years. By pure circumstance, I was able to create an independent revenue stream that hugely augments my LLC's general revenue. This facilitated a financial pathway, which allows my transition from IT and back to film making...
I’m 18 and just graduated high school. I would love it if you could give some advice on what My main focus should be. Do I need to save up for a decent camera first, do I need to go out and just make a project, or should I pay for a workshop, I am extremely passionate I just don’t know where to start. Btw love the videos, keep up the work!
Hey Thomas, first off thanks for the donation! Much appreciated. This is a deep question, but I think the answer is it depends. If you really haven't shot anything before, that should be your first step I'd say. You need time with a camera in your hands, plus practice dealing with people and telling stories. I'd suggest not worrying about how good it is, but something that you can really afford without too much strain. A used fuji xt3, used a7siii or a7iii, or used GH5 - something that has a decent picture but can be found for a bargain these days. A cheap zoom plus a 24 or 35mm prime, and the best shotgun mic you can afford. Don't worry about new or what's the best at this stage. Instead spend your time trying to produce shorts about things you have easy access to - a friend who runs marathons, a vet who does pro bono cases, a student with a great idea for fighting climate change. I don't know what's around you, but something or someone that you can work on without spending a lot of money or having to travel. Try to tell a compelling story with a beginning, middle, and end about a character like this in 3-5 minutes. Try to do that maybe 5 times and I think the progression will be really surprising. Don't try and plan something about refugees in Bangladesh, or something really huge, because you'll never be able to pull it off at the start. Think small and local. Share these projects publicly, and use the best shots for getting a 2 minute highlight reel together. Then start looking into small production companies or directors within driving distance of you and start reaching out. Introduce yourself, show them your reel, offer to work (for free if that's the only way), and keep checking in with them as you progress. Do this enough times and people will start giving you a shot at paid jobs. I personally love workshops and did a ton of them in the past. Some of them I got scholarships to, some were free, and some were really expensive. This all depends on your financial position - if money is super tight, I'd first spend the money on 3-5 short projects, and then down the line take a workshop when you actually know the right questions to ask based on the mistakes you personally made. If you have disposable income, taking a workshop right off the bat can help point you in the right direction and save you some headaches, but it's not worth it if it stops you from actually getting out there and shooting in the beginning. So in summary, I'd say get a used older model camera, shoot 3-5 short films on subjects you can access easily, reach out to local filmmakers or prod companies to grow your network, and add workshops as you can afford them/have specific goals you need help with. Hope that helps, and let me know when you get your first short done - send it to luc@lucforsyth.com and I'd be happy to give feedback. Good luck!
Any tips for freelancers that aren't near a city and have 2 kids and work full time in retail? Lol that's my situation anyway. I'm just struggling to find time between these things for freelance gigs and I'm just starting out
I always say to start with what’s accessible. You don’t need some huge story in Afghanistan to make something good, sometimes small stories are just as powerful. Start short and easy, share often, and send lots of emails. Sounds like you’re juggling a lot, so I know it’s easier said than done but it is absolutely possible if you stay in it long enough. Wish I had a magic solution for ya, but it all boils down to make, share and network. If you make something people really like, they’ll bring you for jobs regardless of where you live. Keep it up man!
hi very good video, i love the advices that you give, do you still have the broken Sony FS7 camera? i was searching a cinema camera that i could repair and maybe do a video about it, can we get in touch?
Hey Lorenzo, unfortunately not. There was a large fee for getting the camera reviewed and shipped and it just wast worth it...wish I could have helped!
Hello Luc, do you have family to support also? Or currently just winging it. I feel it might be tougher if you have a family to support when switching careers. Thanks. Great content.
Not right now, and this is a valid point. It's not the finances though that would make that tough but the time away from home. You can do pretty well financially in this industry, but travelling with a young family would be very hard. The older I get the less I want to travel though, so I'm optimistic for the future!
love your videos...just an input....some of us are not US citizens so some things are unknown to us...like the rainy day fund....is this how you call it? or is it a real term? hahah
Haha, no, i think the job market here can be tough compared to some other places, so a lot of people use RUclips to stay active…just a theory, but true in my case
I live in Los Angeles and I'm a cinematographer, recently graduated from a film school. If you're a director and have an awesome idea for a film, hit me up! I'm willing to work with a low budget so I can build my portfolio!
The 3 month rule, specifically choosing to not purchase anymore gear until you’ve funded 3 months of savings, is a great reminder.
It’s saved me a couple times!
I wish i had read this before
The 3-month rule is utter nonsense as we have learned through the pandemic. You better have over half a year saved.
@@Zton-yn4kc agreed
Possibly the most mature and important video for filmmakers on RUclips at the moment. Even if the content may have room for some variation the principles outlined are so critical to longevity and a career mentality. Great to see. Thank you
Thanks man, appreciate that
I love how the video is structured from small things you can do to save money into doing one of the big steps, which is investing. Embarassingly, I started being more serious about cashflow, savings, and emergency funds not until recently so this video is a great reminder. This topic is something not many filmmakers on RUclips discuss. Your topics are so relatable to those starting out and also to those who have been awhile in this game. Keep being you! We really appreciate the content you put out!
Not embarrassing at all, gotta start somewhere!
This tips are truly amazing man. Found your channel about a month ago and checking out every video you put out. Love the content and the way you deliver it. Thanks for getting it straight to the point with no unneedet fill ups.
Even if i almost do everything you just said, its great having it as a reminder and getting another perspective on this toppig. Great work thanks for sharing this important content!
Great to hear, happy they’re helping!
I'm going to be using your 3 month rule. So much money blown on gear...even if I truly need it, I've still spent A LOT in times where I shouldn't have and it's bitten me in the butt.
informative 12mins on financial side of filmmaking.
I'm one the rare people who are really interested in both filmmaking and finance without working full time in either. One thing I would add to the list, and this is after you have both a rainy day fund and a few months of living expenses saved up, is investing dividend paying stocks. It gives you little extra money during less busy periods. It's probably not going to pay your rent, but it's a bit of extra money in your pocket when you real need it.
This is great advice!
This is hands down, one of the best videos I've seen when it comes to the non-creative part of filmmaking. Thank you so much for making this video.
You’re so welcome!
Great content as always
Awesome, glad you liked it!
Life style creep is a great term! Lots of insightful thoughts in this video. Thanks for putting it together 👍
The creep is real!
Just found this channel and wanted to thank you, in a sea of contrived and uninformative filmmaking videos your work really shines through. I deeply appreciate how clear you are and how clear it is that you are trying to convey the most important information in the most concise way. As a completely self taught working videographer this channel is a god send.
Thanks man, appreciate that a lot
Luc, this is so timely! Great advice. We just liquidated an asset to pay off debt (a percentage of which came from gear purchases) and I plan to stay debt free so we are agile enough to take jobs and opportunities where they arise. Keep up the great and relatable content!
You’re welcome! And congrats on getting debt free, that’s huge!
The BEST channel on RUclips! Thanks Luc.
Appreciate that!
@@LucForsyth not nearly as much as I appreciate what you’re doing here.
I couldn’t have found this channel at a better time! Move over Mark Bone (I love mark bone). But this channel… 🔥 🔥 🔥
@@OffTheBeatenPot Agree completely!
Thank you, Luc - this video is pure gold for those who want to become pro at filmmaking and be OK financially!
Glad you liked it!
Fantastic channel. Keep up the good work Luc.
Thanks!
I'm surprised you didn't mention purchasing used gear instead of new. In another video, you said you've only purchased one new camera. I know a lot of production guys that also diversify their incomes. They have a side gig to help fill in the down times. Anything from owning rental properties to helping load gear and fill up the trucks with fuel at production rental houses.
Great, practical tips. It's good to have information about the "other" side of filmmaking from someone who's already lived it. Enjoying as always.
Nice! 👊🏻👊🏻👊🏻
This is so, so true & such a practical, great channel for emerging doco film makers. 💪🏼💪🏼🎥🖋
Thanks, that’s great to hear!
just found your channel and binging your videos rn, very informative for someone trying to get into documentary filmmaking
Great, very glad to hear it!
Excellent channel Luc, loving your videos and I've already went through half a dozen in a day! It's obviously your channel is going to grow if you keep up this straight forward approach with valuable info, it's super refreshing and relevant! Cheers!
Thanks, appreciate that!
Wow great timing. Was just googling this exact thing. Always appreciate your insights!
The cosmos aligned!
Subscribers starting to rack up! Keep it up
One video at a time!
Love all your content! We have a few months saved up but I also have a retainer client that I work 1 day a month shooting some testimonials. We film them all in 3-4 hour evening window and if I have a more significant project come in we can usually move the date.
Nice one, that’s a great start!
Such a great video! Actual practical advice that is tangible rather than, “how to make £10,000 this month with you camera” videos.
Thank you so much! ♥️ I’ve just discovered you and love you already!
Thanks Sam, glad you’re here!
Thanks Luc! I’m also a videographer/documentarian based in Van. Would love to meet you one day
Needed this! Big big fan!
You’re doing great videos! Keep up the good work.
Thanks David, I will try my best!
Fantastic tips, absolutely love this, and the 3 month rule is a great one! Also love the barge chilling beach shot at 12:35 :)
Barge chilling! Catch you in Van sometime!
Great tips. Love them! If I could add one I would say only buy gear with cash that you’ve earned. Don’t buy gear on credit.
Yes. 💯
This is my new favorite channel, great stuff💯
We’ll that’s nice to hear!
I've been a business owner for about 25 years. By pure circumstance, I was able to create an independent revenue stream that hugely augments my LLC's general revenue. This facilitated a financial pathway, which allows my transition from IT and back to film making...
Nice one!
After that, I got lucky!
I'd love to hear more about your experience moving to Cambodia. Great video!
Good to know, I’ll have a video in a couple months about relocating internationally for work…hopefully that will cover some of it!
Great video! (a much-needed reality check) Thanks man.
You’re very welcome!
Obviously mostly filmmakers are watching this video, but these advices make sense even if you are in a different business. 👍👌
That's great to hear, thanks!
Thanks a lot for this video. Just stumbled over your channel.
Awesome, glad to have you!
Great Advice! not just fot filmmakers ! great video buddy
Thanks, appreciate that
Thanks for the
great advice,
I’m 18 and just graduated high school. I would love it if you could give some advice on what My main focus should be. Do I need to save up for a decent camera first, do I need to go out and just make a project, or should I pay for a workshop, I am extremely passionate I just don’t know where to start. Btw love the videos, keep up the work!
Hey Thomas, first off thanks for the donation! Much appreciated.
This is a deep question, but I think the answer is it depends. If you really haven't shot anything before, that should be your first step I'd say. You need time with a camera in your hands, plus practice dealing with people and telling stories. I'd suggest not worrying about how good it is, but something that you can really afford without too much strain. A used fuji xt3, used a7siii or a7iii, or used GH5 - something that has a decent picture but can be found for a bargain these days. A cheap zoom plus a 24 or 35mm prime, and the best shotgun mic you can afford. Don't worry about new or what's the best at this stage. Instead spend your time trying to produce shorts about things you have easy access to - a friend who runs marathons, a vet who does pro bono cases, a student with a great idea for fighting climate change. I don't know what's around you, but something or someone that you can work on without spending a lot of money or having to travel. Try to tell a compelling story with a beginning, middle, and end about a character like this in 3-5 minutes. Try to do that maybe 5 times and I think the progression will be really surprising. Don't try and plan something about refugees in Bangladesh, or something really huge, because you'll never be able to pull it off at the start. Think small and local.
Share these projects publicly, and use the best shots for getting a 2 minute highlight reel together. Then start looking into small production companies or directors within driving distance of you and start reaching out. Introduce yourself, show them your reel, offer to work (for free if that's the only way), and keep checking in with them as you progress. Do this enough times and people will start giving you a shot at paid jobs.
I personally love workshops and did a ton of them in the past. Some of them I got scholarships to, some were free, and some were really expensive. This all depends on your financial position - if money is super tight, I'd first spend the money on 3-5 short projects, and then down the line take a workshop when you actually know the right questions to ask based on the mistakes you personally made. If you have disposable income, taking a workshop right off the bat can help point you in the right direction and save you some headaches, but it's not worth it if it stops you from actually getting out there and shooting in the beginning.
So in summary, I'd say get a used older model camera, shoot 3-5 short films on subjects you can access easily, reach out to local filmmakers or prod companies to grow your network, and add workshops as you can afford them/have specific goals you need help with.
Hope that helps, and let me know when you get your first short done - send it to luc@lucforsyth.com and I'd be happy to give feedback.
Good luck!
Thank you
George Gammon = Best reference for macroeconomics
good tip!
Thanks for the tips!
You’re welcome Anna!
Thank you man, much love
👊🏻
Thanks for the reminder. Just like Dave Ramsey taught us #debtfreescream
Yes!
Thank you 🙂👍
Great advice. thanks
No problem!
I love how wholistic your channel is.
Thanks!
Thanks!
Any tips for freelancers that aren't near a city and have 2 kids and work full time in retail? Lol that's my situation anyway. I'm just struggling to find time between these things for freelance gigs and I'm just starting out
I always say to start with what’s accessible. You don’t need some huge story in Afghanistan to make something good, sometimes small stories are just as powerful. Start short and easy, share often, and send lots of emails. Sounds like you’re juggling a lot, so I know it’s easier said than done but it is absolutely possible if you stay in it long enough. Wish I had a magic solution for ya, but it all boils down to make, share and network. If you make something people really like, they’ll bring you for jobs regardless of where you live. Keep it up man!
What a fantastic video 👏
👊🏻
Very insightful thanks!
You’re welcome!
Excellent advice! And it’s very rarely said so this is great content. I live in Vancouver too. Would love to connect as I like to shoot docs too
Nice one, sound good Dale! I’ll be back in the city in a couple weeks, drop me a line
@@LucForsyth Sounds great will do!
Etf’s are actually made up of stock so you actually "buy and sell stock", but i get your point. Really nice and interesting video! Thanks for this
Good point!
hi very good video, i love the advices that you give, do you still have the broken Sony FS7 camera? i was searching a cinema camera that i could repair and maybe do a video about it, can we get in touch?
Hey Lorenzo, unfortunately not. There was a large fee for getting the camera reviewed and shipped and it just wast worth it...wish I could have helped!
@@LucForsyth hi thanks for reaching me, it’s a shame but thank you :)
thanks for sharing
No worries!
This is all amazing thank you. My favourite was I realised I couldnt live in toronto so I moved to cambodia 😂
Haha, when you say it like that…
great content, thank you
My pleasure!
gold info here
Glad it helped!
Hello Luc, do you have family to support also? Or currently just winging it. I feel it might be tougher if you have a family to support when switching careers. Thanks. Great content.
Not right now, and this is a valid point. It's not the finances though that would make that tough but the time away from home. You can do pretty well financially in this industry, but travelling with a young family would be very hard. The older I get the less I want to travel though, so I'm optimistic for the future!
Hard truths
Hopefully necessary ones!
love your videos...just an input....some of us are not US citizens so some things are unknown to us...like the rainy day fund....is this how you call it? or is it a real term? hahah
I’m not a US citizen either 🇨🇦! But yes, that just refers to some money set aside for an emergency
@@LucForsyth ohhh sorry then ....does canada give a boost to people to start youtube? all youtubers are Canadian, hehe
Haha, no, i think the job market here can be tough compared to some other places, so a lot of people use RUclips to stay active…just a theory, but true in my case
Hold up, how did you make money in Cambodia?!
I worked as a freelance photojournalist for newspapers and NGOs
Oh, damn, that's cool!
my rainyday fund is 90% of NET Income
💰💰💰!
I live in Los Angeles and I'm a cinematographer, recently graduated from a film school. If you're a director and have an awesome idea for a film, hit me up! I'm willing to work with a low budget so I can build my portfolio!
Thanks Lam, I'll keep that in mind for sure!
Hm I recognize your voice... do you do a podcast or often are a guest at some?
I have for sure, but nowhere regularly!
Filmmakers Financial Peace University.
Hmm, I wonder if that’s patented
Don't forget to depreciate that new FX9 on your taxes.
Hmm, don’t know about this - how does depreciating for tax purposes work??
The only benefit of incorporating your business is that if somebody sues your business they can’t go after your personal assets.
Yep, but I’m saying to register a business name for tax write offs, not incorporate
Doing great brother - but a lot of what you advise is valid only for single Canadians and Americans haha. Us married Europeans are much more frugal ;)
Fair! I can only speak to what I know, but definitely comment on anything that’s different in Europe!
@@LucForsyth ha you wish 😘 do you read teleprompter from really up close?
Not buy gear every time you have extra cash - it will be hard :)
Stay strong!
Tell us your ETFs, Lucas!
S&P 500!
Or just be rich.
This is also a very viable option.
get wife and share the costs
The secret was right in front of my face this whole time!