BUSINESS STRATEGY
Create. Don’t Compete.

Hey Runaways,

I’ve been diving into Zero to One by Peter Thiel lately, and it’s packed with insights for us as creative business owners.

In this week’s newsletter, I want to share two powerful lessons:

1. One on how to stand out in a crowded market 

2. And another on how to master the art of pricing your work.

These are both crucial for taking your creative business to the next level.

Create Something Unique: Lessons from Zero to One

In Zero to One, Thiel emphasizes that competition is for losers. I know it sounds harsh, but here’s the core idea:

If you’re competing in a crowded market, it’s much harder to succeed. The businesses that thrive are the ones creating something new and unique.

They don’t just try to do something better; they aim to do something no one else is doing.

Have you noticed that the wedding videography world is becoming increasingly saturated? You’re not alone.

Q. As wedding videography becomes increasingly popular, how can you stand out among the competition?

Ask yourself: What do you offer that no one else can? It could be a unique filming style (think Jay and Mack)

Specializing in a service that less people offer (think Alesia Films with Super 8mm)

Or an innovative service that your competitors haven’t thought of yet (the sky is the limit with this one).

So here is my challenge for you:

Take a look at your portfolio this week and identify one element that sets you apart.

Maybe it’s the way you tell stories through video or how you pose your couples or incorporate audio to capture the emotion of the day.

Highlight this in your marketing or the way you pitch to clients on your website and social media.

👉🏼 One way to elevate your films and create something truly unique is through sound design. Our Runaway Vows Sound Effects Pack, with 63 custom-designed sounds, helps filmmakers add depth and emotion to their wedding films. We’re also working on Version 2, which will include over 35 new sounds, so stay tuned!

Think Long-Term

Thiel also talks about the importance of focusing on the future, not just the present.

Many creatives are caught up in the hustle of one-off projects, but to really scale your business, you need to think ahead.

What trends are emerging in our industry? How can we position ourselves to be leaders in the next wave of creative innovation?

👉🏼 If you’re looking to step up your visual game, trends like using creative LUTs for color grading can help. Our Prestige LUTs, designed with Gamut.io, can instantly make your footage more cinematic. These LUTs are tailored for wedding filmmakers who want to stand out and give their films a polished, professional look.

At Runaway Vows, we are constantly trying to stay on top of trends, and we know how hard it is.

But don’t give up. Keep trying new things to grow as a creator.

BUSINESS
The Art Of Pricing Yourself

I’ll be the first to say,

Jake and I are not natural salesmen.

Every single time we want to sell something of ours, no matter how valuable we believe it is, we get the yips.

But as a creative business owner, you have to have SOME level of sales and pricing.

Our podcast episode last week, we spoke on the topic of whether or not videograhers should list their prices on their website or not. We’d love to hear your thoughts on this as well

So let’s dive back into a crucial piece for any business owner: PRICING

Many of us fall into the trap of competing on price, which can ultimately hurt our business.

Ever heard the phrase: “It’s a race to the bottom”?

If you’re constantly lowering your rates to match others, you’re diminishing the value of your work.

So here are some ideas on how you can avoid the “race to the bottom”

1. Price Based on Value, Not Competition

Pricing should reflect the unique value you bring to your clients, not what others are charging. Underpricing not only attracts the wrong type of client but also makes it harder for you to grow.

This will always be hard to gauge. But here are some tips:

Take stock of the full value you provide—whether it’s through your creative process, the quality of your final product, or the experience you deliver.

If you’ve been pricing yourself based on what others charge, consider raising your rates by 10-20% to reflect the value you offer.

2. The Pitfalls of Underpricing

Pricing too low can trap you in a cycle of overwork and underappreciation.

Remember, you have a business to run. You have editors to pay, software subscriptions that renew each cycle, and bills to pay for your family.

Not only do you need to make money, but your business needs to make money.

If you find yourself saying “yes” to low-paying projects just to stay afloat, the tragic ending to this is burnout or bankruptcy.

If you feel overworked and underpaid, it’s time to reassess your rates.

Start by identifying projects that drain your time and energy for little return.

Once you’ve identified those, focus on seeking clients who value what you bring to the table and are willing to pay accordingly.

We have 3 more tips that we are going to share in a follow-up email to help you nail your pricing down.

But you’re a busy business owner. You got things to do, get out there and create.

WORKSHOP
New York City

We are less than 2 weeks away from our content day in New York City.

And we have 1 creative who needed to cancel last minute, and their ticket is up for grabs

If you want it, reply to this email and I will send you the link to snag it 🎟️