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INTRO Introductions : Shutting Down Solopreneur Video Production Business in 18 Months in South Korea

2ianlvlup

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Hey Boss, it’s 2IAN.

Just a quick introduction about myself:

I'm 33 years old, a college dropout, Asian, and living in a tiny studio apartment with my girlfriend.

I attended community college until my late twenties, so I don’t have much work experience because I spent a long time in school.

Due to this, when I was in Korea, I faced a lot of disrespect and gaslighting from my superiors, who suggested I go back to the U.S. to get a college degree.

So, I decided to invest $7,000 in a consulting and coaching program that teaches how to run a video production business in Switzerland. I then started my own video production business, even though I didn’t have much experience or a network.

I was good at shooting production videos, but I had to buy a course to learn how to shoot commercials.

They taught me sales techniques, but things were quite different in Korea. For example, it’s illegal to obtain personal information there (unlike scraping LinkedIn Sales Navigator).

I had to find a way to generate leads, so I went to expo events and Kickstarter websites where businesses had limited budgets and couldn’t afford to pay the minimum $10,000 for video production services. Each business expo paid between $3,000 and $6,000.

I met a lot of foreign business owners and local startup owners, but I couldn’t find anyone willing to purchase my services, even with the $7,000 consulting program.

I was only able to generate $20,000 (7 Clients ) in revenue per year.

I thought the issue might be my lack of networking, so I started working as a freelance camera assistant.

Unfortunately, things didn’t work out, and my bank account is now close to zero.

I had to shut down my business.

Goals for 2024:​

  • Completely disconnect from my toxic parents.
  • Learn to survive with a steady-paying job (I'm considering becoming an English teacher).
  • Move out of this tiny apartment by the end of November.
Any advice would be greatly appreciated. Thank you so much for reading!
 
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Thanks for sharing, I think it's better to do enough market research and test your idea before going all in financially in your next business idea.
Keep it up!
 
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Liiq ov aq!
Vjepl zua Kon, zit O tjuamf fu nusi nesliv sitiesdj epf fowi opvu piyv catopitt ofie. Vjepl zua gus zuas efwodi!
 
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