photo credit: Getty Royalty-FreeGetty
After retiring in 2010 from ABC News, Mike Kravinsky took a leap and became a mid-life entrepreneur. Over the course of 29 years, Kravinsky worked as an editor and technical director for shows like World News Tonight, Good Morning America and news magazine shows like 20/20 and PrimeTime Live.
Now 65, he is following his childhood dream to be a filmmaker. His independent film company: Nextnik Films LLC. Kravinsky has now completed three feature films and is writing his fourth. His films, The Nextnik (2013), Geographically Desirable (2015) and Nothing to Do (2017). You can catch his latest film, Nothing To Do, which made the rounds at film festivals last year, on Amazon Prime.
I interviewed Mike for my forthcoming book, Never Too Old To Get Rich: and asked him to look back and share his thoughts on his shift to starting his own independent film company.
Kerry: What did starting your own business mean to you personally?
Mike: Freedom. There’s something nice about routine, but routine can really start wearing on you when there’s really nothing left to accomplish. I now have the freedom to take on projects and execute them in my own vision–essentially being my own boss in a creative venture. Each film that I do is like starting a new business. It is like a new crew, new actors, new locations. I really enjoyed my career in tv news, but it was time. For me, making my own fictional films, seemed like the right thing.
Were you confident that you were doing the right thing? Any second-guessing?
I was absolutely confident that I was doing the right thing. I knew I was doing the right thing by moving on. It really felt good when I was initially doing a blog after I left ABC. But there was something gnawing that I wasn’t accomplishing everything that I wanted to do. Basically I have been living something that I thought I would do in my 20s–move out to LA and become a filmmaker. This was the time to take a chance and the technology was such I could afford it.
I didn’t have any doubts about leaving ABC. It was time. But I did have a lot of second thoughts about how I should approach my next act. I knew I wanted to continue to make media, but the question was should I make documentaries, narratives, shorts, feature length? A video blog? I needed to find what got me up in the morning. Financially, I thought if it all came crashing down, I could go back to the news business as a freelance editor because the gig economy is pretty big right now. I felt it could be a fall back.
Anything you would have done differently?
The biggest mistake I made was rushing. In search of what I wanted to try next. I didn’t have a real plan before I left ABC which is exactly what you say you should not do.
When I decided to try my hand at film making I wanted to make my first film fast. I should have slowed down some and enjoyed the journey more.
It would have been better for me if I had started off on small films. I enjoyed doing them. But I would have concentrated on short films first if I had to do it over again. And the writing is always challenging.
How do you measure your success?
I would measure my success by making a little bit of money. It’s really nice to get people happy about your product and want to discuss it. I’m not looking to become wealthy, but I am looking to make a product and be able to sell it.
Importantly, success for me is touching people emotionally. Of course, I want to make money. Film making is a business. I have learned if you are true to yourself in your writing and directing people and enjoy your work, hopefully the money will come.
How big a role did financial rewards play in your decision to make a transition?
Financial rewards did not play a huge role. I was fortunate enough to be with an organization Disney ABC that provided us with a comfortable retirement plan 401 k and all that stuff.
For most, the arts aren’t big money makers, particularly if you are creating something fresh. I knew that going in, and I was just ready. My feeling was if I got into any kind of trouble financially, I knew that I could go back and do some freelance. As long as we don’t go crazy and buy a Tesla everything will work out.
I have been able to keep costs down because I do pretty much everything that I can do. I write it, edit it, direct it. My wife is the composer. Even my dog plays a role.
One way I can make money today on my films today is through Amazon Prime per-view streaming fees. My hope is to make enough money to continue to make films.
How did your preparation help you succeed?
Working in TV prepared me to be very exacting in my preparation of a production. But what was missing from my years in television was an understanding of emotion.
Although much of what I learned creatively, technically and running on deadlines on shows like Good Morning America, Primetime Live and 20/20 were movable to narrative films, there was still a significant learning curve to go from reality to fiction, and I honestly continue to learn with each production.
In my career a couple of things helped. One is the technical. I worked with the top video professionals at ABC as a result, I have a solid understanding of the technical and creative side of news editing Transferring that to fictional films took some work. The way a fictional film is paced. How the story unfolds is much different than news so there was and is a big learning curve there. The other thing is dealing with people.
At ABC, I was a technical director where I was cruise chief for as many as 25 people on a television show. Now I am dealing with personalities and creative people.
What do you tell people who ask you for advice on starting a business?
You can’t just do it. Everybody’s situation is different. There are financial issues. There are family issues. What if you have a sick parent or kids in school? Some people just financially cannot do it. If you’re in a position that you are able to do it, and you have some savings, then you can give it a shot. You should have a year of savings backlogged, so you are able to go back to school to learn something new if you have to, or work part time in a particular industry.
The biggest preparation is you have to feel financially comfortable in whatever it is you’re going to start to do. Do the downsizing and whatever you need to do to be able to take on something new. Then hopefully your new work will start paying some kind of salary. It might not be much to start, but enough to pay the bills. That’s really the bottom line.
Look at the end product. Enjoy the journey. Don’t stress. I know that is very simplistic advice particularly if it is your own money.
Finally, don’t rush. Enjoy the ride. Write about things you know about and are passionate about. Don’t write things that include specific locations and things you need to get. Look around your house, look at your friends and things you have free access to. Then write a story with all of those things. That is the reason our dog Charlie is in every one of my films. She does it for the little hunks of cheese.
What books did you find helpful
Your book, What’s Next? Follow Your Passion and Find Your Dream Job and Marc Freedman’s The Big Shift. He’s something of a pragmatist. You have to be very pragmatic.
A big source for me for what I do is YouTube, color style, interviews with writers and editors about their craft. I like Ted talks.
What are some of the unexpected rewards and surprises?
The most unexpected surprise about the last film at all of the festivals was how it touched people. We all ended up getting into some very personal discussions with festival goers about how they dealt with an aging parent and how dealing with end of a mother or fathers life and how it affected them. It was beautiful and amazing to have a total stranger want to discuss a personal time in their lives. That is what art is all about. Moving people, touching people emotionally.
What was the biggest challenge?
Writing was the biggest challenge. It is hard to create a world that seems real, but is fiction.