The Business Side of Voice Acting
Voice acting is often viewed as an art form, a passion pursued by those with a love for performance, creativity, and the unique ability to transform words into emotion. However, like any profession, it is also a business. As a voice actor, you are essentially running your own small business. This means you must wear multiple hats, including that of a marketer, accountant, negotiator, and customer service representative. Understanding this reality is the first step towards creating a sustainable and profitable career.
Start Connecting in Your Business
So…what are some of the things you need to understand before you start out as a voice actor? One of the biggest things, is you need to comfortable building relationships and you can do that by getting better at networking. Voice acting is as much about who you know as it is about what you can do. Networking can lead to opportunities that talent alone might not secure. Conventions, workshops, and seminars are great places to meet industry professionals, learn about new trends, and showcase your skills. Being active in the voice acting community can open doors and create valuable connections.
Understanding Contracts and Negotiations
One of the most critical yet often overlooked aspects of being a voice actor is understanding contracts and the negotiation process. Contracts outline terms including payment, usage rights, and deadlines.
Key Contract Elements
Payment Terms: Understand how and when you will be paid. Are you paid per project, per hour, or per finished minute? Ensure that the payment terms are clearly stated.
Usage Rights: Know how your voice will be used. Will it be for a one-time project, or will it be used in perpetuity? Clarifying usage rights can protect you from potential misuse of your work.
Exclusivity Clauses: Some contracts may include exclusivity clauses that prevent you from working with competitors. Be cautious about signing away your rights without fully understanding the implications.
You also want to work on negotiating or understanding your value or worth. Many voice actors struggle with self-worth and often underprice their services. Understanding the market rates for voice acting can help you negotiate better pay. Research industry standards and be prepared to advocate for your value. If you’re nervous about quoting or negotiating your rates, please check out my free resource: Before You Buy a Mic. It will help you get more confident in your quoting - plus learn how to deal with any hagglers 😊
The Importance of Financial Literacy
Voice acting can be a lucrative career, but on the flip side it can also come with financial challenges, especially for freelancers. Understanding basic financial principles can help you manage your income and expenses effectively. Here’s where you can start:
Creating a budget or some way to track your income is essential. Track your earnings and expenses to ensure you are living within your means and start saving in case you need some money to fall back on.
As a freelancer, you are responsible for your taxes. Understanding what deductions you can take, such as equipment, studio time, and marketing expenses, can significantly impact your taxable income. Consider consulting with a tax professional who understands the voice acting industry or helps creative professionals.
Retirement might be the furthest thing from your mind, but freelancing often means you don’t have an employer-sponsored retirement plan. Take the initiative to set up an individual retirement account (IRA) or a similar plan to ensure you are financially secure in the future. If you need to set up a call with someone that can help you with planning for the future.
Continuous Learning and Adaptation
Just as you might need a coach on the acting side, consider hiring someone to assist you in setting up your business or learning how to organize and run your business. Get a coach or invest in a workshop or class if you need help: building a website, tech support for your studio, or learning how to market. Investing in ongoing training can help you refine your skills, learn new techniques, and adapt to industry changes. Workshops and classes can also be a great way to build your networking skills to seek opportunities.
To Sum it All Up
While voice acting is undoubtedly an artistic pursuit, the importance of understanding the business side cannot be overstated. From marketing and networking to contract negotiations and financial literacy, these skills are crucial for building a sustainable and successful career. Understanding the business side of voice acting is not just beneficial; it’s essential for building a successful career. Whether you’re just starting out or looking to up your game, taking the time to understand the business of voice acting will pay dividends in the long run. If you’re serious about learning the acting side of voice work and the business side, check out my voiceover coaching program, Make Money with Your Mouth.