OddWatch Production Log JAN 2024
- Ethen Dent
- Feb 5, 2024
- 2 min read
Updated: Feb 22, 2024
JANUARY
ETHEN DENT
January mainly involved revisiting research conducted during the early stages of OddWatch. I am evaluating if anything has changed to the business function, therefore mitigating risk from complacency.
SCAMPER BRAINSTORMING
SUBSTITUTE | Hayes Davidson's objective is to bring architecture from around the world to life through powerful, emotive, and accurate art (stills, motion, immersive, or interactive). Potentially you could replace the focus of architecture with the technology industry (e.g. audio tech products; headphones, speakers, turntables, etc.). |
COMBINE | Ads are conventionally something we passively consume and have the desire to avoid. 'App-Vertising' is the theory that, in the future, the content we consume will be the advert itself. Adverts + interactive experience. e.g. 'I Love You, Colonel Sanders!'. [1] (Psyop, KFC, I Love You, Colonel Sanders! A Finger Lickin’ Good Dating Simulator 2019) |
ADAPT | media.work x Hamilton Watch production is a fascinating piece of storytelling. No dialogue, no product, just visuals. You could adapt the visuals to hint at the existence of a product by manipulating elements to take the shape of your client's product. |
MODIFY | Factory 42 started work on a VR/AR experience that was intended to be an external live experience. Producing a creative live experience for VR/AR is a viable modification. Interactable live ads. |
PURPOSE | Producing creatives that function as a PSA. I've previously worked on a project that was a PSA for misinformation (The Crash). |
ELIMINATE | Remove elements of the production; colour, sound, product placement, dialogue, text, storytelling, etc. |
REARRANGE | Reversing the concept... changing 'creative production to advertise product/service' into 'creative production to belittle a product/service'. Essentially a parody. 'If Google was a Guy’ is a parody of the search engine; Google. [2] (ColegeHumor, Dropout, If Google was a Guy 2014) |
"I'm still not satisfied with certain sections of the SCAMPER research. Certain parts (i.e. COMBINE), I feel, do not apply to the business function. Although the combination of 2 different forms of media is relevant, It's the example that doesn't work."
SWOT ANALYSIS
Oddwatch’s business function is 3 things.
A multi-media studio that creates creative content for clients.
A space where students have continued access to tools.
A space to use the obtained hardware for recreational use.
STRENGTHS
Location: Canterbury, Kent-based animation studio is a cheaper alternative to London-based. However, connections to London allow the benefit of a 'premium feel' for clients. Gained benefit from a small space in London specifically for the marketing team.
Competition: In terms of location, our nearest competition would be a small animation studio that is part of the University of Kent. If the mentioned is our competition in the city in terms of promotional content creation, this UVP shouldn’t be challenged too much.
[Cartoon Media - Animated Marketing & Training Videos - Whiteboard Animation & 2D Explainer Videos] Video production service in Canterbury, England.
Knowledge/Artistic Ability: Educated at (PCL) Escape, I and several peers have been educated with industry-standard tools by experienced tutors. Stronger art direction compared to competitors.
Strong Management Skills: Knowledge of how to use ShotGun and Gantt Charts. Previous producer experience. Utilises both digital and physical methods to schedule and plan.
Equipment: Budget to mid-range computer equipment (currently in the process of acquiring high-end HP OMENs) i.e. 1x Omen 17" laptop (GTX 1070), 1x Omen Desktop (GTX 1060), studio recording equipment, industry-standard tools, etc.
WEAKNESSES
Lack of Capital: All startup funds will have to start from a combination of side hustles, investors, and loans. Otherwise, sweat equity is another option.
Lack of Reputation: OddWatch is currently in the process of producing a portfolio. Web Development is currently in progress (FEB 2024). Nonetheless, we can work on small projects to build additional testimonials.
Delegating Time: Delegating time across multiple income sources is essential to ensure that, one, I survive with living costs and, two, maintain that OddWatch is profitable. OddWatch does not always have a source of income. For example, OddWatch only had revenue for 7 months of 2023. Time must be delegated so that money is always coming in (40Hr:25Hr, Employment:OddWatch)
OPPORTUNITIES
Cheaper Tool Alternatives: Websites such as GAMIVO offer cheaper alternatives for buying necessary tools for the business.
Cheaper Accommodation Alternatives: Establishing a studio outside of London will be cheaper. Although, it might be necessary to buy a small space within London (for the premium appeal).
Escape Masters Course Content: After the completion of my master's, I still retained a huge amount of resources that I still intend to utilize.
THREATS
Competition: Animation and 3D marketing are predominantly made in-house, especially in the tech industry. Otherwise, there are a huge amount of outsourcing companies that fulfil animation and 3D business functions. Recreation competition is fairly harsh in Canterbury. As a student city, OddWatch would be competing with a huge assortment of other recreational activities such as; Clubs, Bars, Gyms, Escape Rooms, Bowling Alleys, sports centres, etc.
Supply of Tools: Demand for CD keys in online stores is incredibly high and they sell out fast. Obtaining a handful of keys is a high priority. However, missing out on obtaining these keys would pose a threat to the business.
Brand Protectiveness/Uncreative Clients: Getting your idea through to 20 people in the room is a difficult endeavour. Clients are very protective of their brand; saying 'you can't do this’ and 'you can't do that’.
"WEAKNESSES and THREATS in this research are predominantly the same. STRENGTHS and OPPORTUNITIES have changed as time has moved on from my time at Escape. At the end of my Short-Term business plan, S and O will most likely change again as web development is finished and testimonial work begins."
TOWS STRATEGIC ALTERNATIVE MATRIX
STRENGTHS | WEAKNESSES | |
OPPORTUNITIES | [1] Knowledge/Artistic Ability: @Escape taught a strong art direction in comparison to competitors. Exploitable as local competition is a small animated marketing studio. [1] Location: A studio based in Canterbury will benefit from reduced costs compared to London. [1/2/3] Equipment: Starting equipment for the business. No need to rent any hardware as the business already possesses for short-term strategy. [1/2] Cheaper Tool Alternatives: Websites such as GAMIVO offer cheaper alternatives for buying necessary tools for the business. | [1/2/3] Lack of Capital: A lack of capital brings 0 expectations for the business. Something preferable during the short-term strategy. [1/2/3] Lack of Reputation: A lack of reputation is, subjectively, better than a bad reputation. Working effectively with clients will build a good reputation. This is easier than repairing a bad one. [1/2/3] Competition: Promotional content can’t always be made in-house. That leaves an opportunity to work with clients that other companies don't. |
THREATS | [1] Brand Protectiveness / Uncreative Clients: Paper Prototyping can help mitigate the protectiveness of certain clients. [1/2/3] Competition: A strong art direction that I’ve learned from Escape can be taken advantage of and assist with creating better promotional content than the competition. | [1/2/3] Lack of Capital: A lack of capital means that the business relies completely on risky sweat equity. However, less risky than a failed monetary investment. [1/2/3] Lack of Reputation: Nothing has been established to give us a decent reputation. We do not have a portfolio and/or showreel. [1/2/3] Advertising Trends: Marketing trends of 'Oddverts' and 'Appverts' are embraced by only certain demographics/clients. [1/2/3] Competition: Animation and 3D marketing are predominantly made in-house, especially in the tech industry. [1/2/3] Supply of Tools: Demand for CD keys in online stores is incredibly high and they sell out fast. Obtaining a handful of keys is a high priority. However, missing out on obtaining these keys would pose a threat to the business. [1] Brand Protectiveness / Uncreative Clients: Clients are very protective of their brand, saying 'You can't do this’ and 'You can't do that’. |
SMART ANALYSIS
Short-Term Strategy
SPECIFIC | Finalise the research and concept stages of OddWatch Studios |
MEASURABLE | Measurable by completing research documents and all tasks in the research stage of production. |
ATTAINABLE |
|
RELEVANT | Achieving this objective will confirm a lot of questions that I still have about the business concept. A small portfolio will present the kind of work we can do across different medias. |
TIME-BOUND | March 31st 2024 |
Mid-Term Strategy
SPECIFIC | Establish OddWatch as a business |
MEASURABLE | Measurable by the revenue/number of testimonials OddWatch obtains. Additional feedback also contributes to how successfully the objective is achieved. |
ATTAINABLE |
|
RELEVANT | Achieving this objective establishes OddWatch as a legitimate business with a growing portfolio. |
TIME-BOUND | End of 2024 year. |
Long-Term Strategy
SPECIFIC | Establish space and implement remaining UVPs. |
MEASURABLE | Measurable if the office space has been obtained. |
ATTAINABLE |
|
RELEVANT | Achieving this objective cements the fact that the short and mid-term strategies and the establishment of the business were successful. |
TIME-BOUND | End of the 2025 year. |
"SMART analysis is mostly unchanged but short-term objectives and time frame are updated."
PEST/LE ANALYSIS
POLITICAL
Tenancy Agreements - Tenancy Agreements often stipulate that tenants are not allowed to run a business from the premises. The business owner should obtain express permission from the landlord (or letting management agency / social housing provider, council, etc.). This is to ensure that working from home will not constitute a breach of the tenancy agreement.
Council - Depending on how the property is going to be used, and if any specific licenses are required, the local council may need to consider whether to grant the relevant permit or license. It might also be a good idea to obtain a Certificate for Lawful Use, under section 191 of the Town and Country Planning Act 1990.
Employment Law - By law, an employee cannot work more than an average of 48 hours a week unless either of the following applies:
They agree to work more hours (known as ‘opting out’ of the weekly limit)
They do a job not covered by the law on working hours (sometimes known as the ‘working time regulations’)
Intellectual Property - Collaboration (local and national) allows the liability of reputation damage of a company/IP.
ECONOMIC
Start-Up Loan - Applying for a government-backed Start Up Loan is a decent option. Aimed at start-up businesses that have been trading for less than two years, the Start-Up Loan scheme allows you to borrow up to £25,000 at a fixed rate of 6% p.a (the average loan amount is £7,500).
Similar to applying for a bank loan, you’ll need to have a detailed business plan outlining your figures including a cash flow forecast. If you are approved, you’ll also gain access to lots of helpful resources including a dedicated mentor.
Crowdfunding and Angel Investors - Crowdfunding websites such as Kickstarter and IndieGoGo offer alternative options for businesses to raise funds. These crowdfunding platforms offer platforms that allow you to pitch your business to investors and raise finance through peer-to-peer lending. In exchange, you can offer equity, reward, or interest returned from the money received.
Business angels are individuals who invest in a business in return for getting a share of it. Only limited companies are capable of selling shares, however.
SOCIAL
Demographic Needs - One of three USPs for OddWatch is to provide tools to artists, predominantly after graduation/whilst looking for work. Providing social space for artists to network and socialize is beneficial for both business and the individual.
Additionally, being a student doesn’t bring a lucrative lifestyle. OddWatch is a service that anticipates this and allows students to use tools for a reduced price.
Transparency with Clients/Customer Service - Ensuring our clients are happy with the promotional content that we create for them is a priority for us. Especially since we have yet to build a reputation for the company. Clients take a risk by working with a company that has yet to build a reputation or test the business function. By being transparent with our clients, we hope we can reassure them that we do intend to work to the best of our ability and represent the clients’ company/brand as best we can.
TECHNOLOGY
Hardware/Software - OddWatch requires hardware and software to fulfill the business function. Hardware is easier to access. OddWatch is run on sweat equity during the short/mid-term business strategy so the hardware I currently own will suffice. Software is more complicated. Licensing and software subscriptions make the business demand some sort of revenue to cover the cost (whether the revenue comes from the business itself or elsewhere).
Internet - An essential technology, and cost, to run the business. The business function relies on internet usage for access to tools, networking, digital strategies, etc. Fibre broadband costs average around £25-£30 pcm.
LEGAL
Copyright Law - Copyright law protects OddWatch from people copying, distributing, renting, adapting, and showing works that OddWatch creates. Any form of plagiarism needs to be avoided as copyright law works both ways.
Employment Law - By law, an employee cannot work more than an average of 48 hours a week.
Health & Safety - Health and Safety at Work etc. Act 1974 - defines the structure and authority for the regulation and enforcement of workplace health and safety of a company's employees.
International Laws & Regulations - Creative mediums are typically cheaper overseas (e.g. Ireland, Poland, Brazil, Indonesia). Taking advantage of the lower costs to produce content is advantageous but you do need to adhere to international regulations.
Government Regulations for COVID-19 - As the COVID-19 pandemic is a very recent circumstance, governmental regulations are most likely to change depending on the statistics of the virus. Adhering to these regulations will deeply affect how we fulfill the business function, especially since we plan for numerous students to use the same hardware
ENVIRONMENTAL
Location - OddWatch being based in Canterbury presents a lot of opportunities to work with clients. Canterbury, being a student city, has a concentration on music, bars, and other recreational activities. The standard of promotional content in South-East Kent is lower than what is conventional in larger cities/capitals.
For our long-term strategy, Canterbury presents a ‘double-edged’ sword. Our UVP that allows students to continue using tools is something that is needed and would most likely be successful (researched through the demand of other students). A recreational space, on the other hand, would compete with all the other recreational activities in Canterbury. Given that Canterbury is a student city, there are a lot of other activities available.
"OddWatch's PEST/LE Analysis mostly remains unchanged. Occasional grammatical corrections have been made."
DOMAIN ACQUISITION
"I now have my domain for the website which should make access to portfolio content a little easier."
WEBSITE CONTACT PAGE
"I have updated my contact page, finally. The only part I want to work on now is a seamless transition between the splash headers of both; the Home Page and the Contact Page."
LEAN CANVAS
"As there have been slight changes to the business function since our last research phase, OddWatch's Lean Canvas has been updated."
PORTFOLIO WEBPAGE REDESIGNS
GENERAL ESTIMATION SHEET / PRICING
"My General Estimation Cost sheet has been updated for the current 2024 year."
"Here at OddWatch, we have been hard at work focusing on additional resources that, unfortunately, wont be disclosed within this blog post. These include the even more boring bits (insider/research documents) that are essential for OddWatch to run smoothly this year."
What I’ve been listening to:
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