Management
Management
It’s Time to Rethink Pricing
Throw out everything you know about pricing.
As we think about the future and how to establish a new normal when our companies reboot, we need a healthier understanding of pricing in the rental industry.
The rental model is genius when business is good. You buy a product once and get to sell it repeatedly — but at what price?
Management
3 Ways An AV Workaholic Problem-Solver Can Respond to COVID-19
Most of us are in the live event industry, which means we get paid to live and work in problem-solving mode. But since it’s all screeched to a halt, what should a workaholic problem-solver be doing right now?
While we’re experts at solving problems on the job, it can be difficult to figure out exactly how to solve this problem. Business is on pause and we feel as though our hands are tied.
They’re not.
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.