Management
Management
Cash Flow is a Process
You either have cash or you don’t. It isn’t complicated. It isn’t even especially interesting. However, it is vitally important.
Cash flow is all about the process of pricing for profit, collecting payments, and forecasting what lies ahead. When we do this well, we give our businesses the opportunity to flourish. When we fail to do this, we set our companies up for failure too.
Management
How to Survive the 4 Phases of Re-Entry
Your next normal may not be so normal. We know business won’t suddenly come back full-throttle. It will open in stages. Now, most of us are beginning phase one (or we can at least see it in our near future).
As talk buzzes of restarts, we’re left with a lot of noise and questions. How do we manage our teams, operations, and finances if the rules change every few weeks? How do we know when to move from one phase to another?
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.