How I Started A Video Production Business With Just $10,000

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Jack Chua was 30 years of age when he decided to leave the difficulties of employment to start his own video production business with the $10,000 he had saved up. Nine years on, he looks back on his difficulties with building a business with only $10,000, while starting a family along the way, and lets us in on how he’s managed to thrive.

Q: Hi Jack! Why did you decide to set up a video production business? And why did you choose to use $10,000 to start it?

A: While working for other bosses in my previous jobs, I realised most Singaporean bosses are unable to pay decently without exploiting their employees’ time and skills. I could not reconcile the two worlds—where I would put in a lot of effort in my work and yet not be rewarded monetarily or in terms of career advancement. I’ve had nasty encounters with ex-employers who could not understand we all have family commitments that precede their businesses; but it’s just me, I presume.

I did not choose to start with $10,000! The amount was whatever savings I had accumulated over my working life and I tried to start the business from there.

What were your early days of doing business like? How did you get jobs? Did you think you would succeed or fail? Or did you have no idea what to expect?

The first year was tough! Every day was spent worrying about ongoing projects, trying to find new clients and on top of that, having a partner who left just when the going got tough. Honestly, I gave myself 2 years once my ex-partner left. That was the time-frame I gave myself as I believed the money would run out by then.

How long did it take for you to get to a point where you had a steady stream of jobs? Did you have any big setbacks or wins along the way?

Until today, I still do not believe in the steady stream of jobs that many people would expect. We are not in the engineering or research fields where we have the luxury of signing long-term contracts. We have, so far, been blessed with contracts from different clients. Some are still around and have become good friends of ours, while some have faded into obscurity.

I gauge wins or setbacks based on my relationship with the client. A client who does not have a huge budget but is easy to work with is always a win for us.

How did you finally earn back your $10,000? What was the turning point that made that happen?

It took awhile. We spent some on giving ourselves a small salary and also computers for our day-to-day work. We didn’t have a ‘miracle’. Each day we were counting our blessings and also trying to balance the books.

What was your routine like in the months/weeks/days that led to the turning point you mentioned above?

We usually spend our days getting work done by a reasonable time during the day and believe that we should have our own personal time after work. That is still our day-to-day routine.

Now that your business is more established, has your routine changed? If so, how?

We are more confident of managing our time and clients’ expectations. And it has calmed much of the nerves we had initially. We now spend more time balancing work and home life.

How do you presently spend your weekends?

Right now, most of my weekends are spent with my baby girl. Bringing her out on trips and also just spending time at home with her.

What advice do you have for someone thinking of starting a business with just $10,000?

It would be a good idea to first consider if $10,000 is enough to start the business in the first place.

Can you map out a recommended path for people who want to start a business with $10,000 to follow?

Make sure you are mentally in this all the way until the end. If you are in it for fun or [running it] just [as] a side project, the money will soon run out before you know it.

What are the key things/people/situations that enabled you to start a business with just $10,000, in your opinion?

Financial prudence and also having good relationships with colleagues from my previous workplaces really helped as my earliest clients were actually the ex-colleagues I had a good time working with.

How did successfully starting a business with only $10,000 change you as a person? Or did it not change you?

My very first idea that this would be easy evaporated immediately after seeing the other facets of owning my own small business. I had to mature faster than my friends who had just started their careers.

If you could go back and start your business from scratch all over again, what would you do differently?

Finding better partners! I am very blessed to have my wife as my [present] partner as she has been the bedrock of our business ever since our ex-partner left. A good partner lifts you up and brings something to the business that you are unable to.

What were you like as a child? What about as a teenager and young adult? How did you change at every decade? Or did you not change?

My childhood was uneventful. We did not live in luxury nor was I pampered. At each stage of my life, I had my eyes opened bit by bit through friends or events in my life.

Which major event in your life has made you who you are, in your opinion? Why do you think so?

I remember at one of my previous workplaces—I had left NS [National Service; compulsory military conscription for all male Singaporean citizens] not long ago and just started my working life—during a disagreement with one of my seniors, another colleague jumped in to defend me. After that, I got a scolding from that colleague! He said he did not understand why I did not stand up for myself to my senior, that if I did not stand up for what I did right, who would do that for me in future? That really got me thinking about working and being more careful about my own work and also standing my ground if I am right.

Which 3 objects/people in your life can you presently not live without and why?

My wife, my baby girl and my dog.

Of all the objects you bought in the past year, which has most positively impacted your life? Why?

We just got a car. That really helped in our work and also with family time. We were always tired after long shoots or bringing the baby out, but the car made things easier for us.

Which person do you wish Luck-it would interview for you to learn from? Why?

Sim Wong Hoo of Creative. I believe he is the most understated local business owner from whom I would have much to learn from.

Lastly, what’s the worst advice you’ve been given, or have heard people giving, with regards to doing business? And what’s the best?

I wouldn’t dare to give advice to people thinking of doing their own business. Neither have I given much consideration to other people’s opinion of how I do my own business.

Jack is presently working on the year-long internal project he has been doing with Marina Bay Sands but believes himself to be primarily a husband and father, in that order, before being a business owner. Interested parties may check out Konclave’s website, social media pages and YouTube page to find out more about his latest projects, or just ring him on the phone. He is willing to answer questions about starting video businesses (“But only if they’re serious about taking advice from an almost 40-year-old. Haha.”) so feel free to drop your questions and own experiences with bootstrapping a business in the comment box below.

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Photographs courtesy and copyright of Jack Chua. Interviewer: Sy
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