We were lucky to catch up with Terry Clark recently and have shared our conversation below.
Alright, Terry thanks for taking the time to share your stories and insights with us today. We’d love to hear your thoughts about family businesses.
Doing business with a family member can be tricky. I have done business with family members in the past; most of the business dealings did not work out, and I think being related was a major reason why the business was not successful. What works well when doing business with family is utilizing legal binding agreements and establishing roles, responsibilities and a scope. Avoid doing business without written agreements.
Yes, I would want my child to join my business. I worked for my father and even though it was difficult at times, I still have fond memories and would want to create similar memories with my child.
I remember when my father told us his first year in business, he made the most money he’s ever made but since he didn’t understand the tax laws, he paid almost all of it back to the government. Later that year, my mom took courses to be a tax accountant. The following year and tax season, with my mother’s guidance, the business paid a lot less in taxes and was a profitable business for years to come. This helped me see the value of family working together for the benefit of the family business.
As always, we appreciate you sharing your insights and we’ve got a few more questions for you, but before we get to all of that can you take a minute to introduce yourself and give our readers some of your back background and context?
I’m Terry Clark, CEO and founder of Vanta Black Television. Vanta Black Television is a streaming service platform to watch Movies, TV Shows and other genres from your favorite independent filmmakers and content creators.
We provide a streaming service platform to support and empower filmmakers and content creators in the media industry.
Can you open up about a time when you had a really close call with the business?
So many occasions that I had no idea where my next business dollar would come from, below are a few moments that saved the business,
1.. I was broke, my CPA (Kendall Marshall ) informed me about a 6-week Master Business Class, upon completion you receive a business credit card. I enrolled; after graduating I received a Prosperity Business Credit Card with a $5K limit. I immediately used the cards to pay the office rent and other operating expenses.
2. I choose not to repair my old vehicle and used the insurance check to repair the damage from a hail storm. Rent paid!!!
3. I didn’t have the funds to pay next month’s rent. To my surprise after filing my business taxes for the first year, my CPA informed me my refund was $6k+…office rent paid!!!
Any stories or insights that might help us understand how you’ve built such a strong reputation?
Good customer service has helped build my reputation. I believe in treating people with respect and going over and beyond their expectations to make sure their needs are met.
Contact Info:
- Website: https://vantablacktv.com/
- Instagram: https://www.instagram.com/VantaBlackTV
- Facebook: https://www.facebook.com/VantaBlackTV
- Youtube: https://www.youtube.com/@vantablacktv
- Other: https://www.tiktok.com/@vantablacktelevision
Image Credits
N/A