Got something to say on anything at all relating to the industry. Get it off your chest right here!
10/04/2010 4:42:08 PM
Toruk Makto
Posts: 127
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Not every descision is based on money, and you cannot base your business and hope it works on offering the lowest possible price, as this is a sure fire way of going out of business, there will always be someone offering services for less money than you
what you have to do is find out what you can do better than your compeditors, and sell and communicate this effectively.
so you must understand your customers needs and understand what you can do and what your compeditors cannot do, this info will help you sell your services more effectively that the bigger companies.
If all you do is say we put on event for $2x and all your compeditors are doing is saying we put on events for $x, naturally the customer is going to go for the cheaper option, but if you break down and communicate what $2x really is and what you can do and the results you have achieved in the past then $2x doesn't seem like much at all.
But with all businesses when push comes to shove you have to expect the big fish hunters to push the little fish hunters out of the way, it is the industries way of getting rid of the crappy services out there, plenty of magicians have given up on account that they can't get any work- because the high end magicians are dropping their prices and doing the events they would not normally do, what this does is get rid of the crapy magicians. which is a good thing (if your one of the good magicians) what this does is force you to be inventive and to create your own niche or side venutre that is a top up sales to fill in the gaps,.
In these time you have to be creative, and you have to be more creative than those big companies. and your going to have to do those events that are lower than what you are used to, this is what the bigger companies have done, and you will have to do it too, The good news is that if you are creative and create a product that is superior to your larger compeditors, then when the economy bounces back you will have an extremly profitable business, that has been tested and all the kinks have been worked out- which you can use to top up sales or sell the idea off to those large companies for maximum profit.
I used to do corporate events only, I now have dropped the ego and have done some events that I never wanted or thought I would ever do, I have a new theatre fundraiser show coming out and as a result I am making more money now then before the financial crisis, However- I have myself pushed some of the little fish hunters out of the way.
Big fish hunters have two options, they can push the little hunters out of the way- or change where they fish, many magicians have gone to the USA to do shows, I have not, I am not going to appologise to those magicians who were pushed out of the way- thats business and it forces them to be more creative.
anyway I do feel your pain, but you can iether complain, or take take action by taking the ego out of the equation and get creative and do events you think are beneath you. you may find it rewarding, both finacially and personally. and by doing easy events it does reduce the stress from lack of income believe me.
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12/03/2010 4:44:12 PM
ivodiladim
Posts: 3
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... They want to eat with us but there’s no room.
“There’s plenty of work for all’ catch cry seems to be a thing of the past. We continue to be challenged by bigger event agencies (including international conglomerates) competing for smaller clients in our traditional space.
Why would a huge international want to win business on price at a 5% margin? “Ivo your price is not competitive” said the client.
I SUGGEST : The big event hunter wants the client's name and then makes their margin by screwing the suppliers : not sustainable in my view.
Why would a company that is excellent at opening ceremonies for international events want to compete on a 30 pax conference? “The BDM had new ideas”, oh yes but who will be the event manager? Will it even be one of their staff or a contractor, as we have heard?
I SUGGEST : The big hunters are struggling with cash flow because the big fish are hiding, so they want to eat our fish.
I don’t have a solution just hope the automotive and finance industries get their act together soon and get the piranha off my back.
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