I was hearing recently that there was a photographer who specialized in weddings where because people request for videography services as well, he was thinking of investing in a camera that has great video capabilities as well. However, it was rather expensive where he could expend to spend almost $8000 or more. You could argue that getting s job or two could pay for that. But it’s a bit too risky for him so he would rather have someone ask him to do the job first and then invest in the equipment. That way there is virtually no risk.
To date he hasn’t had any service requests to be a videographer. This makes me think as I know a lot of videographers who started their business by first buying the basics they felt they needed to do various jobs. With that they started to build a portfolio or samples of the video quality they could produce by creating things for fun. That actually did generate business where eventually the equipment was all paid for.
Sometimes you actually do have to invest in the resources first where people need to see that you are actually ready now to do the job. It’s riskier, but it can be a necessity if you are specifically trying to grow in a particular industry versus just thinking about it.