Many are familiar with the 80/20 Rule; it’s been applied to everything from wealth to work.
It’s not uncommon to hear things like: “80 percent of the wealth is in the hands of 20 percent of the people;” or “80 percent of sales come from 20 percent of the customers;” or even “80 percent of complaints are generated by 20 percent of the people.”
But for me, the 80/20 Rule misses the mark. That’s because the key to my company’s success can be credited to a business philosophy best described as the 90/20 Rule.
I have built a successful production business by offering clients like the Florida Reining Horse Association and the Central New York Reining Horse Association production and web streaming services. The secret to my success—the 90/20 Rule—boils down to offering clients 90 percent of the production value the public is used to seeing on network television sports coverage for 20 percent of the cost.
That strategy has served me well since founding Image Botique. Since, I have produced streaming coverage of horse shows, fundraisers, and even the international disaster response in Haiti in 2010. By offering production values that approach the best that television has to offer at 20 percent of the cost, I am creating value for customers. Offering value based on the 90/20 Rule to clients.
Value-Based Production Technology
What makes it possible for me to deliver on the 90/20 Rule is a perspective on technology and having a clear understanding of the goal that is trying to be accomplished.
Delivering on the 90/20 Rule requires more than simply finding powerful, yet affordable alternatives to higher priced production technology. It also requires experience and judgment to know when it makes sense to spend a bit of extra money to achieve what viewers expect.
Nowhere is this more evident than with the cameras I use. Typically, I use prosumer-level cameras with HD-SDI output. This level of camera is capable of producing remarkable HD imagery at a low price.
The Other 10 Percent
If I am able to deliver 90 percent of the production value of a big event produced for television, what’s missing? In other words, what elements make up the other 10 percent?
That 10 percent is a rather random collection of pieces, including such things as on-screen graphics.
I am very strict on one thing—and I am adamant about it. If I do an event, our coverage will be done well, and it will be a TV experience. Frankly, if I don’t think I can deliver it on the budget, I don’t take the job. That is one of the things that differentiates us as a company.