Business of VO: Spend More Or Spend Less?

Spend or save? Squander or splurge? When is time to spend your hard-earned money and reinvest it into your voiceover business? When is it best to be frugal DIY entrepreneur? All business owners struggle with these questions, so today The BOSSES explore the options and talk about Anne’s real-time fancy-or-frugal dilemma. She’s a Ganguzza on the move and her boss-powers are in hyper drive!



Takeaways

Quick Concepts from Today’s Episode:

  1. Moving, new house, transitioning a studio – moving as a voice actors is crazy stressful.

  2. Anne is likely to be displaced in the process of moving to her new, soon-to-be-built house.

  3. The process is causing Anne to be more frugal than normal.

  4. Anne is faced with tearing down a studio her dad built and buying a new studio as a premium price.

  5. A fancy, brand new booth will cost close to 10 thousand dollars.

  6. Frugal options include buying a used, slightly smaller booth OR to pay someone to take apart and reconstruct the booth her dad built along with paying for any modifications.

  7. The frugal vs fancy debate extends to all areas of voiceover. Microphones and equipment are common areas.

  8. Change is costly but often necessary for a business to grow and be more fruitful.

  9. Expert help is usually not frugal but it may be important.

  10. Frugality comes with caveats. A frugal item or investment may not be permanent or may require additional time or money to maintain later.

  11. Fancy means you have thought through the long-term and you are spending up-front to reduce maintenance costs down-the-line.

  12. Just because you buy something fancy doesn’t mean it was frivolous. You’ve worked hard and you deserve a treat, a tool or a thing that makes your business environment better and more to your liking.

  13. All business expenses come with tax benefit. We are not talking about wasteful spending.


Referenced in this Episode

Direct links to things we brought up ++


Anne is considering a Studiobricks Studio
Here are items we can still tax deduct under new tax laws
Recorded on ipDTL

Transcript

>> Today’s voiceover talent is more than just a pretty voice.

>> Pretty voice.

>> Pretty voice.

>> Pretty voice.

>> Today’s voiceover talent has to be a BOSS.

>> BOSS.

>> A BOSS.

>> A BOSS.

>> Join us each week for business owner strategies and success with your hosts Anne Ganguzza and Gabrielle Nistico, along with some of the strongest voices in our industry.

>> Rock your business.

>> Rock your business.

>> Rock your business.

>> Like a BOSS.

>> Like a BOSS.

>> Rock your business like a BOSS.

>> Rock your business like a BOSS.

>> A VO BOSS.

>> A VO BOSS.

>> A VO BOSS.

Anne: Hello everyone. Welcome to the VO BOSS broadcast. I’m your host, Anne Ganguzza, along with my boss bestie, Gabby Nistico. Hey Gabby!

Gabby: Hello, hello!

Anne: Gabby, I’m in a dilemma. 

Gabby: I know.

Anne: I’m in a dilemma. I’m in transition as you know.

Gabby: You are, you are. Moving, new house, transitioning the studio, figuring out all of the logistics. It’s a lot.

Anne: And all of a sudden because yay, we sold the house, so I am very excited about that.

Gabby: Yay!

Anne: I’m very grateful, very happy about that; we sold the house. But all of a sudden escrow is like 30 days. [laughs] So it’s like whoa, we need to figure out where we’re gonna live until our place is ready. California doesn’t have weather issues, but they have like, I don’t know, meter reader issues or town issues. So plan on end of February. That means if I get my extension, I have three months where I will be living somewhere. Not sure where yet. So lots of things to think about. Before we close, I have to do something with the studio, and you know how much I love my studio, Gabby.

Gabby: I know, I know.

Anne: My studio that was built by my daddy.

Gabby: Here’s what I find really interesting about watching you go through this process and everything that’s taking place. It actually kind of resulted in a little bit of a role reversal between the two of us, because normally, and this is a comparison we’ve made before, right, our kitten heels and combat boots, I tend to be the frugal one of the two of us, and you tend to be a little more fancy.

Anne: Yeah, I tend to be fancy. 

Gabby: A little fancy. And now –

Anne: Fancy and frugal decisions to make. [laughs]

Gabby: Yeah. Lately you’ve had to make a lot of frugal decisions.

Anne: Yes. I have to be frugal because you know the money is shifting around, and we are 98% sure we’ve sold the house, you know, until it closes. [laughs] All sorts of things could happen. In the meantime…

Gabby: It brings up a really good conversation about as bosses knowing when to be fancy and when to be frugal. How do we make those decisions? When do we decide? For voice actors, that really is a constant and very common decision that we have to make.

Anne: I like to compare it to shoes. [laughs] Do I need another pair of shoes or do I need, do I need the Jimmy Chus? Do I need another pair of shoes?

Gabby: You had to go with shoes, didn’t you?

Anne: I did have to go with shoes, because I know you love shoes. I know.

Gabby: I do too, and that’s the problem, I can’t –

Anne: That’s what I said, I know you love shoes. That’s when I went there. [laughs] And purses [laughs] and jewelry and bling.

Gabby: Leather. [laughs]