We were lucky to catch up with Kressa Phillips recently and have shared our conversation below.
Alright, Kressa thanks for taking the time to share your stories and insights with us today. Can you talk to us about a risk you’ve taken – walk us through the story?
The biggest risk I’ve ever taken was leaving my 9-5 job to pursue Krescent Studios, my production company, full time. I worked in different communication roles after obtaining my undergraduate degrees and the last job I had before I became my own boss was an in-house videographer. I ran my business on the side, doing videography and photography for Krescent Studios on the weekends. I’d stay up late on weeknights to edit and finish my projects for clients, and start work at 8:30am the next day. It was a perk that both jobs overlapped regarding skillset, but I became exhausted quickly. I decided early on to do whatever it takes to become sustained by my own business.
A risk is often thought of as a shot in the dark, but this was a calculated risk. There is a lot of advice in the creative world encouraging others to pursue their dreams, but it can be misleading if that pursuit is only passion-driven. I wanted a data-driven risk. The inspiring and passionate side of my decision is an entirely different discussion — this is the practical side. I met with business consultants who helped me form a marketing and financial plan. I knew that if I was going to do this, I needed help from others. I’ve outlined a seven step plan that led me to finally make the decision to take the leap on my own.
1.) I waited as long as I could. Some of the best advice I was given was: “When you think you’re ready to go full-time, wait longer.” This was a huge decision and I wanted to be as prepared as possible for anything that could come my way. A lot of things can blindside you when growing a business.
2.) I ensured that I had at least eight months of projects booked. There’s still risk beyond that eight month security blanket, but I had a proven record of consistently bringing in clients.
3) I had a growth strategy based on actual data. Going full time as a business owner cannot be based on hope and passion; it needs to make sense on paper. I had doubled my income two years in a row, and my business consultant created a projection chart that showed I was likely to make it a third.
4) I had a savings account to fall back on if times get slow, and ensured I was debt-free to keep expenses low.
5) I had a plan B if this all fails. I have other employment options I can pursue in the worst case scenario.
6) I had a good relationship with my employer. It was important that I learn to be a good employee. I didn’t want my experience with entrepreneurship to be motivated by burned bridges in employment. I knew in my heart that I was making the right decision to leave my 9-5 when it was difficult to say goodbye.
7.) My business was finally making more than what my current employer was paying me. Even if I checked all the other boxes, my promise to myself was that I wouldn’t leave my job if I couldn’t pay myself more than what I was making there.
Even after all that, I still couldn’t, and still cannot, avoid the scary word: risk. If you aren’t willing to put yourself in a position where failure is possible, then you probably can’t be an entrepreneur. Even when things are going well, I still get worried and experience fear. There’s still so much more to learn. 2024 was a record-breaking year for Krescent Studios (insert applause here), but intrusive thoughts persist. “What if next year is a total flop?” Fear isn’t always bad, though. It can be crippling, or it can be motivating. So, my attitude going into 2025 is this: I’m just getting started.
Kressa, before we move on to more of these sorts of questions, can you take some time to bring our readers up to speed on you and what you do?
My name is Kressa and I am the founder of Krescent Studios LLC, a creative team of artists serving Northwest Arkansas. As a production company, we specialize in documentary style cinematography and photography services. Some main areas of focus are events and weddings. As a filmmaker and photographer, I oversee every aspect of production—from storyboarding, to camera work, to post production. In 2019, while working overseas as a communications officer for an international nonprofit in Cambodia, I got to produce my first video. I became enthralled by the power of storytelling. I was starting at a mountain of knowledge before me and felt intimidated by the climb, but I decided in that moment, not long after obtaining undergraduate degrees in Public Relations and Spanish, that I was going to be brave enough to suck at something new all over again. This pivotal moment inspired me to eventually become an independent filmmaker and photographer, leading to the creation of Krescent Studios. I wanted to build a team because I realized early on that I can’t do this alone.
It’s pretty simple what sets Krescent Studios apart: story. Whether it’s a wedding, a company event, or a promotional video, our films are emotion-driven. Dialogue is pivotal and what makes our films take shape. We’re the ones you come to if you want to capture the true essence of something.
Can you share one of your favorite marketing or sales stories?
It was the chance to land my biggest gig yet, and I had no idea how to do it.
I received a call from a company that was flying in their entire staff for week long event. They wanted all the coverage, photo and video. At the time, I was a solo shooter. They had worked with production companies in the past and knew what they wanted. After explaining, in detail, the requested deliverables over the phone, the client asks: “does this sound like something you can handle and would be up for?” Everything inside of me was saying no. The answer that came out of my mouth was: “absolutely. Before we move forward, let me get my production manager on a call with us so he can help me sort out the rest of the details.” There’s a difference between biting off more than you can chew, and being prepared with connections you can trust. I didn’t know how to put together a quote for this client, but I knew someone who did. My mentor became my production manager and one of my first contract employees on this very project.
I was afraid to send the proposal we put together, it was the most extensive thing I’d worked on thus far. This is coming from a girl who mostly shot weddings. I was certain my client would laugh at me and say no. I hid my insecurities and confidently sent it. They accepted the proposal without any questions, I landed the gig, I formed a team for the event, we crushed it, and the client hired me again the following year.
Always be prepared for anything, and if you can, say yes.
What do you think helped you build your reputation within your market?
What helped build my reputation within my market was quality control. I sometimes see business owners outsourcing too early, and too much, when perhaps focusing on building trust and familiarity with clientele is the better move. I would rather scale more slowly but always deliver consistently high quality work, and have our clients know who they’re working with, than to grow more quickly but sacrifice the standards I’ve set.
Contact Info:
- Website: https://www.KrescentStudios.com
- Instagram: @Krescentstudios
- Facebook: @Krescentstudios
- Youtube: @Krescentstudios
