Management
Management
How Far You Plan is How Long You Last
How long can your business last?
It’s a scary question, but one that every business owner (both AV and outside our industry) should be asking. To find the answer, we have to look at cash flow. It's crucial for staying in business during the current global situation.
Management
Why You Should Overcome Your Fear of Outside Direct Expenses
Who wants to spend money on people or rentals you don’t need?
No one.
Creating extra expenses eats up your profit… and clearly we all want to make as much money as possible.
But outside direct expenses like stage hands, sub rentals, supplies, and subcontracts are not always a bad thing. In fact, these “extra charges” can make us even more profitable if we approach them wisely.
Management
What Do Your Prices Say About You?
The numbers say it all.
…at least, that might be true for your potential customers.
What are you saying about your company through your pricing?
While price may seem like an isolated component in your overall proposal, price communicates more to customers than we sometimes realize. Price not only does or doesn’t fit a client’s budget — it also indicates your level of experience and the quality of your work.
If you want to communicate high quality and ample experience, you need to price your services just right — not too high, not too low.
Management
Managing Processes is More Effective than Managing People
How many employees does it take to require a manager?
Three — one to manage the other two.
Sounds like a bad joke, right? We laugh about the tendencies of managers to micromanage and serve in a seemingly useless role. But many companies continue to force people into the management role as soon as they start growing their number of employees.
Before long, they are wondering what went wrong.
Management
You’re Not As Unique As You Think
Ever suspect standard solutions won’t work for your business?
Does it seem that most solutions, software, or best practices need to be customized in order to really be effective for your company?
If so, maybe you’re assuming your business is more unique than it is.
When advising AV companies, I often hear, “We’ve seen other people do that, but we can’t. Our business is too unique.”
As a person, you are unique.
But as a business, you are NOT.
Management
The Truth About Employee Career Paths
Who are your best hires?
Who are the people who will advance through the ranks of your company? The people who probably won’t move out of the warehouse?
While most of us tend to look for new hires who show promise of moving through the different positions of our company, that’s not always the best option… for them OR you. The idea that you should only hire people who will move up the career ladder is a myth that too many AV companies buy into.