Meet the co-founder of event.video
Hi Nadine, my name is Ralph Cochrane from the UK and I’m a co-founder of event.video along with my good friend Mike Lunt in the USA. We produce TV quality video and live-streaming remotely for virtual events, online TV shows and webinars. Think of a TV studio except we are in our homes.
What inspired you to event.video and what is the end goal?
In a word COVID-19! It’s no secret the creative industry has been hit hard as events are cancelled and filming projects grind to a halt. Mike and I both have our own video production companies and we are used to collaborating on creative projects using the cloud. With 25+ years experience between us we are also used to working multiple jobs, from operating cameras to editing and now presenting or vision mixing live. We saw an opportunity for video content that doesn’t suck. Anyone who’s on a zoom call right now knows what I mean!
How do you set yourself apart from other businesses in your industry?
event.video was built from the ground up to use the cloud. For high-end productions we have complete virtual studios with trained presenters using a green screen in their home. We can live stream this content remotely and give our presenters direction like they’re in a real studio. We also provide live streaming solutions that make ordinary laptop style presenting look much better as well. Solutions for every budget, I guess you could say.
Keeping an eye on the numbers in any business is important. How do you ensure that you’re always up to date?
I’m a Xero user. The one thing we’re short of at the moment is time. I’m able to quote for new opportunities, invoice clients and ensure I’ve paid my taxes really quickly. Much as I love numbers, my job is NOT to do accounting, but Xero makes it easy.
What’s the biggest lesson you’ve learnt so far as an entrepreneur?
Focus on your strengths and if you’re not passionate about it don’t start. It’s not all roses and light, but it is exciting to try to build a new business and right now we all need a little positivity.
With all the success stories around entrepreneurship and how innovative people have to be to take the leap. How do you think you’ve innovated your sector and why?
I’ve always believed that one person’s challenge is another person’s opportunity. We are in one of the worst crises for decades, but we have the tools to innovate. You will never get a better chance to build an audience online than now or to speak to senior executives in your client base. If we’re not trying to build a better future what are we doing?
What are your thoughts on failure?
That it happens to everyone and it’s an essential part of learning like scalding your finger as a child under the hot tap. I’ve failed before and I’ve also succeeded. I’ve been let down by people I trusted and I’ve also had the elation of experiencing huge highs with a great team. You’ve got to ride the wave and learn from it.
Do you have a morning routine or ritual to get your day started on the right foot?
Since the lockdown I seem to naturally wake up with the light in the mornings so I’m up earlier. I make a coffee and I’m lucky that I have large patio doors that the sunshine just pours in through. It is England though so when it’s raining I just start work a bit earlier.
If you could be in a room with 4 entrepreneurs, who would they be and why?
Great question. I’ve been lucky enough to meet and interview quite a few during my career. It’s always the ones that have come from humble beginnings that have a profound effect on me. I’d have to say Jack Ma (Alibaba) because he’s from a different culture but speaks so much truth. Bill Gates because of his philanthropic work. Looking at the UK Karren Brady is impressive and maybe someone like Gail Bradbrook who co-founded Extinction Rebellion. The older I get the more I realise money isn’t the only metric of success. We should be looking at impact and building something that secures the world for future generations.
What are your top tips for entrepreneurs wanting to get their business out there?
Keep it Simple Stupid (KISS). I’ve had so many conversations about great ideas over the years. A great idea is just that. A great idea. It’s not a business. To create a business takes stamina. You don’t need huge amounts of funding, it’s more about your mental health. If you have the skills and a great team, you can take a simple idea and focus and refocus until you deliver the core service for your clients and you do it well. Also don’t believe the hype. There isn’t a self-help book that will solve all the problems you will face, but guess what every other entrepreneur has been through what you’re going through. We don’t talk enough about that.
What plans do you have for event.video over the next two years?
Right now we’re growing quickly week by week but we are about to announce some important partnerships and there is such a good vibe within the “virtual event” world that people I respect are coming to us to ask for advice. That’s a wonderful place to be. Now we need to create a simple process and keep on producing great content. Hopefully within the next two years we will go back to real events, but I think that hybrid offerings like ours where people can take part remotely is still going to be really important.
How important is company culture and what is your top tip to get it right?
I think I prefer remote management! I remember having a start-up when I was in my mid 20s and saying to the staff “my door is always open”. I had a torrent of people every day moaning about their colleagues or some issue that really they could solve themselves. At event.video because both Mike can do every job, well currently at least, we also recognise the pressure points. Having the voice of experience really helps me to be a better manager than I was in my twenties. I know when to push and when to allow someone the space to figure things out for themselves. I should also say we have a great team. The creative industry is built on the backs of freelancers and I’m really hoping we can give more of them work in the coming weeks and months.
Any new product launches we should know about?
We’re simplifying our offerings into three groups: Interactive live-streaming (so with chat), Online TV (think of weekly live show with guests) and Virtual Events. Watch out for some exciting new partnerships.
What’s the single most important decision that you made, that contributed to your business?
Strangely it was a random domain name search! I saw the domain was free and all the ideas just came together. But equally it was realising I can’t do it alone and talking to my friends Mike, Gee, Jack and Bill about getting something going.
How did you fund the launch of your business and what creative strategies did you use to execute a minimal cash flow?
I’m a glutton for punishment and don’t really like to ask for investment. I’ve bootstrapped the start-ups I’ve founded over the past 15 years and this is no different. By getting the economic model right and the payment terms, which Xero helps enforce through invoice reminders and other features, you can build a successful business.
How did you conquer those moments of doubt that so often affect entrepreneurs or stop many with great ideas – what pushes you through?
By talking to friends. During the lockdown I’m live-streaming every day for my local Crossfit gym and twice a week for a yoga class. Small businesses everywhere are suffering, but it’s amazing what you can learn or solve by talking to someone with a completely different business.
What’s the most important question entrepreneurs should be asking themselves?
Am I really up for this? Right now our sales cycle is accelerated because of the COVID-19 crisis but it’s still a sales cycle. There are highs and lows. If you don’t really have the motivation, stamina or perhaps you struggle with mental health issues it might be a good idea to talk to somebody first before betting the farm on your next venture. Being an “entrepreneur” is an affliction more than it is a career choice! I’m joking, kind of.
How do you believe the evolution of tech will affect your industry over the next 10 years?
We are going to get through this crisis but I think the world will change. Remote tech works. Engagement matters and quality stands out. We’ve been in a phase of process automation for a number of years but I think we can also do things differently, whether it’s helping to support working from home organisationally or having a hybrid approach to events where some people are in the room but many are online. It’s an exciting future to think about.
What would be your top marketing tip, to grow a business that is so niche, yet incredibly timeless?
Have a simple, concise message. We say we make engaging TV quality video. Ask me next year though, I might have changed my mind which is another issue! If it ain’t broke don’t fix it.
Were you nervous at the outset?
Not really. I’m a fighter. The chips are down for so many of us it’s time to get on your bike and find work. The only difference to when I graduated is now the bike is virtual. Of course I have my doubts but that’s when I chat to Mike or one of the team and we come up with a plan.
Any moments where you thought you’ve bitten off more than you can chew?
Yes, managing the sales process. When you have so many enquiries it’s hard to manage the amount of time you spend on video calls for example and to judge whether potential clients are serious or just chewing the fat. Sometimes you have to say “this is how it works” or even say no to people and that can be tricky. I like to please.
What do you think gives a brand longevity?
Clarity and authenticity. I don’t really mind what a brand does so long as I understand “ok it does X’. When brands start to preach or claim to be part of a movement that they are clearly not like climate change I think it’s hugely detrimental and a big turn off.
