Business of Film: Mastery Journal

Before entering into my business of film course, my initial goals were incredibly rudimentary. I wanted to learn strategies that would help with longevity in the film industry and also to advance myself in the business. I didn’t quite have a complete understanding of what to intel of in this course. However, as it’s coming to an end, I am taking away an overwhelming amount of information that I know will be a process for me to adapt to. There were so many essential keys that were covered; salary negotiations, freelance business, and contract laws.

One of the few difficulties I found myself having is negotiating money in a skillful way that does not cheat myself nor others. From my own personal perspective, I found it tricky to discuss a rate while I am still in the entry-level stage. What I found to be eye-opening is the negotiating rule. Never state your rate first, but to allow whoever has hired me to give an estimation. Though this is a rule, it’s my responsibility to know the range for the position I’ve been offered. Also, that same eye-opening experience I had towards salary negotiations occurred with my understanding of the freelance business.

As we discussed freelance, I knew that I’d eventually lean towards this area. What I didn’t know was the technicalities in how much money I would keep as a freelancer. I need to have knowledge of the tax rate in the state I conduct my business so that it will help me estimate my freelance rate. When we began to explore the topic of signing contracts, I did have some understanding of this area, especially when it comes to the language that can be used in contracts. What I found to be most beneficial in this area was the clause, most favored nations. I did not know of this clause, but as I learned, I saw it as a way to cover myself in any contract and to make sure I’m getting my worth.

Negotiating salary, freelance business, and contract laws were the most impactful topics discussed in this course. I now am walking away from this class knowing that I myself am a business. As stated before, this may take a process for me to adapt to, but I am confident I will learn as I grow in the film industry.