I originally wrote this for AV Matters® in December of 2016. I planned on writing a new list, but all of these previous items still matter. So, I am appending five more items and making some tweaks to the original list.
I hope you tried a lot of these this past year. Let me know what worked and what didn’t. Continue reading
How do you stack up against other companies? In this webinar, Tom Stimson outlines what a fully functioning small business looks like with tips on how to move closer to your ideal model.
If your questions about proposals tend towards “Is this price too low (or too high)?” then it’s time to take a fresh look at how you value projects.
Outcome is what matters to your customer. Ideation is how we as sellers tailor our approach to meeting their needs. In this webinar, Tom Stimson explains how to leave the world of low-margin, commoditized deals behind and focus on high value results.
I have written (many times) about what it takes to profitably grow a production rental business. You need smart business processes, the ability to oversell, and a compelling value proposition. The “oversell” part of the equation – combined with the outcome-based language required to engage valuable customers – is rather scary to a lot of operationally-drive companies. The underlying concern is, “We need to know exactly what we are going to do before we promise to do it.” Unfortunately, that is not Continue reading
Let’s make more money right now. Grab your P&L statement for the last twelve months and compare your labor income and your direct expense for labor. Your labor revenue are the charges for all the people you provide in order to stage an event or production or complete an installation. Your labor expense is the corresponding cost for those people (hint: your staff folks are an expense even if you don’t track them by job). Include all of their compensation including non-billable time. You will end up with all labor income compared to all direct labor both inside and outside. Go ahead, I can wait a minute. Continue reading
Do your proposals improve your close rates, profit margins, or client retention? Or, do they present information without adding any value to the offer? Over the past decade, proposals from audiovisual services companies have started to include nice design touches and more dynamic branding efforts. However, all the pretty pictures and parts lists won’t close the deal or change the mind of a buyer that has already decided who they are buying from. And, what about proposals for clients or customers that have already decided to use your services?
Is your business growth out of control? Or, have you plateaued? Are profits unpredictable? Is your team confused about what you are trying to accomplish? Are you?
“This was a terrific webinar and will serve as a powerful resource. Your language and packaging of a complex set of information makes the choices seem clear and obvious. Thank you!”
This is a three-part series introducing a business practice embraced by many successful companies – How to leverage outside workforce to generate more growth and profit for your business. Relax, I am not going to tell you to ship jobs overseas or move your payroll to a professional employer organization (PEO). The real opportunity is to become more nimble, responsive, and creative in the pursuit of profitable growth. A key to that success is the effective use of third-party intellect and execution.
If all revenue is good, then you never have to say No. Every customer is valid target. Every RFP is worth pursuing. You won’t have to work as hard to find opportunities, because every opportunity is good. You will need more salespeople, more designers, more estimators, more draftspersons. The only dis-qualifier for more revenue is, “We are too busy,” which as every sales manager knows will incite rebellion on the sales team. So, you hire more people. Continue reading