ProSoundWeb Community

Please login or register.

Login with username, password and session length
Advanced search  

Pages: 1 ... 18 19 [20] 21 22 ... 26   Go Down

Author Topic: Business Minded Questions  (Read 19593 times)

Nathan Riddle

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 749
  • Panhandle, FL
Re: Business Minded Questions
« Reply #190 on: April 21, 2017, 12:00:37 am »


So I took off work a bit early today to prep for Prom this weekend and then go to this music festival.


Turns out they did end up hiring an audio visual company to run things. Semi-local company, been around for 30 years. I'd say they aren't my direct competition as they're larger than I am, but they definitely have been doing it for long enough to do things right. The annoying part is we (my buddie and I) talked to a promoter/in charge guy about the event and was told that they were going to choose the cheapest quote. So we didn't bother submitting a quote. Perhaps, we should have. Live and learn right?


Event:Northwest Fest - Outdoor Concert Featuring Heritage, The Moon Lagoons & More!
Decent rig: 4x KF740's over 4x SB1000s L/R ground stacked on stage, Venue Profile FOH & Monitor
Flown truss in front of amphitheater: 8x Aura, 2x chain hoists
Rear: 4x MH3's & 4xAura
Pearl console


Event was at our local college amphitheater and It was cool, they had the students in the theater class come and help roll cables. Subs were meh, compared to my Danleys. Mains were nice, plenty of impact and fairly even across the field. I could have probably done the show just fine, I definitely could have done lighting; but sound might have been a stretch, though my SRX835p's peak levels compare nicely to the KF740's (single module, I need to model a full dash array and see).


Anyways, I went to see sound check and just watch things & help out wherever just because I wanted to and could. I didn't bring anything, just myself. Ended up talking Danley with the FOH guy (He has a friend who works for Danley, Chris I think he said) and he agreed with the point source concept! The problem was that he just wasn't finding them as rider friendly and that's why no one sees them much. He walked me through the Venue board (never seen one in the wilde).


Then I left for my work meeting. Got a call from my buddy who is the BE for one of the bands and said they were missing a hazer/fogger for the event and we got his Martin Magnum hazer and they used it for the event and the president of the company says he owes my friend a huge favor, (he just wants more work), so that's awesome!


I'm thinking about reaching out and seeing if they will send any of the smaller gigs my way that they don't want to bother with. Or maybe offer myself to work for them, not really sure; just trying to come up with networking ideas.


I never got to talk to a promoter or anything. But it was a good experience. Ray, I like your idea of a bag of tricks (I had SMAART in the car  ;)  ) but the FOH guy was already running it so no worries there.
Logged
I'm just a guy trying to do the next right thing.

Nathan Riddle

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 749
  • Panhandle, FL
Re: Business Minded Questions
« Reply #191 on: April 21, 2017, 12:05:10 am »

GASP! You CAUGHT IT! lolz.

So ya gonna move here to Portland, then, so I can hire ya?!?


Haha, perhaps!?  I was wondering if you noticed my other thread ;)  I need to call the recruiter and see whats up, he asked for my resume and I haven't heard back. I'd love to work for you! You're like my favorite person besides my parents Ray :)

[/size]
[/size]
[/size][size=78%]This is an another annoying thing that has been happening. Shrunk text :([/size]
[/size][size=78%]I press enter one time weirdly and it goes tiny.[/size]
Logged
I'm just a guy trying to do the next right thing.

Nathan Riddle

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 749
  • Panhandle, FL
Re: Business Minded Questions
« Reply #192 on: April 21, 2017, 12:07:22 am »

Code: [Select]
Haha, perhaps!?  I was wondering if you noticed my other thread
I need to call the recruiter and see whats up, he asked for my resume and I haven't heard back.
I'd love to work for you! You're like my favorite person besides my parents Ray

[/size]
[/size]
[/size][size=78%]This is an another annoying thing that has been happening. Shrunk text[/size]
[/size][size=78%]I press enter one time weirdly and it goes tiny.[/size]


Aaaand boom! I'm sick again.

So I might have figured it out. Quote someone then backspace inside of their quote to make the text go small. Then post it.
« Last Edit: April 21, 2017, 12:11:05 am by Nathan Riddle »
Logged
I'm just a guy trying to do the next right thing.

Nathan Riddle

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 749
  • Panhandle, FL
Re: Business Minded Questions
« Reply #193 on: April 21, 2017, 12:18:50 am »

Goodness! Now to reply to this monster I love it when any of y'all write long winded posts. I always learn so much!


2 years is a good target for paying off any new gear (if it's a larger ticket item).

So I paint an image of us being a big company, warehouse, etc, but it's really not that yet. I still work from home. Lots of stuff packed in my garage, driveway, trailer, the famous 7up Truck, and probably another small truck soon. The reason I haven't moved into an office-warehouse-retail space yet? I'm paying off debt. Beyond the lease payments (the last of the 3 initial leases from 2014 to buy the VerTec rig is wrapping up in June, but the new I-Tech HDs last June are on a 5 year lease, and the CL5/Rio package is on a 2 year lease from last December to November 2018.), I have a pile of CC debt. That's the shit that's killing me. I'm probably still paying for gear I bought 10 years ago, since the CC balance(s) are still there. Now, I'm managing it, and starting to pull ahead finally (I ALWAYS pay more than the minimums!), and if I do use a CC to buy some new gear, supplies, or whatever (and it's not on a SAC financing plan, like GC or MF offer) I make a concerted effort to pay it off with the next statement. So, even though I'm not maybe getting too far ahead of it, at least I'm not falling BEHIND! :) Either way, until I get some of those monthlies out of the way, I really don't feel comfortable getting into a warehouse payment. I was barely OK picking up a 10x20 storage unit 2 months ago, and that was just because I was logistically cramped here. Couldn't pick shows unless it wasn't raining... haha. And since it's the PNW, it's ALWAYS raining!


Honestly, it makes me feel a bit better you're not insanely far away from where i'm at. If I end up staying here and keep doing this I feel like you're the next step/iteration of myself. I have the quality product, the client's best interests at heart, and a business minded plan. Now I just need more customers!



But, new debt: The VerTec rig? Opened a LOT of new doors. Without it, I wouldn't have met the guys at another local AV company, and they're the ones who hooked me up with a bunch of political shows last year. Even though the payments have been daunting at times, they've helped me start moving to The Next Level (without having to kill a unicorn first!). The new I-Tech amp package last year (and it's associated lease)? Again, needed to not only avoid onsite random failures of amps, but also to give me enough amp channels to actually power my entire rig. Until then, I didn't have enough amps to drive the whole 16bx rig, AND 12bx subs, AND 12bx monitors! Not and keep it all Crown, that is. (I could have half-assed some QSCs in there if I needed to.) Now everything's powered, AND I have a couple of spares. (Until I buy more subs...) The CL5/Rio in December? Used for the show in San Jose in January, the show coming up in Reno in June, and a few other rentals on the side. Plus, my techs like it way better than the LS9! I don't have to rent in larger boards. Even if you JUST look at the SJ/Reno shows, that's nearly $30k of gross billings, and those shows were solidified by the fact that I could now offer them the CL5. After these two shows in 2018 (looking at the profit post-show from them), that's going to have fully paid for that purchase.


Same, my debt allowed me to purchase cases making gigs faster/easier saving on labor. Purchase a sub, wireless mics & new mains, and TV equipment. I have everything I need to do most gigs that I usually do without renting and I plan on paying it all off within a year's time (barring new purchases).



Do I need more gear? Yeah. I want to pick up an A12/G28 rig, plus couple more consoles, maybe an M22 wedge package, full motor pack -- here I am, wanting to spend $750k. But, that's the price I will have to pay to get to "the next level;" and if I can have signed-off contracts ready to show a bank (that'll pay most of that off within 24-36 months) then it will be worth the leap.
[/size]

Again same, I'd like to replace my DIY distro, get some SOOW feeder & replace my E-cords with SOOW. Get more Mac Aura wannabees. GLD console, 500+lb crank stands, chain hoists, etc.... but I don't have the clients to warrant those purchases.
As Tim said, debt needs to be something strategic that opens new doors for you. Now, I don't claim to presume that pre-2014 debt was "strategic," if anything, it was "spending enough to stay in business," and that was it. I was still working full-time for Trader Joe's, so I wasn't trying to "make a living" with professional AV at that point. But, when I left TJ's in January of 2014, I knew that I needed to step it up if I wanted to ever actually get a paycheck from this! Hence, the VerTec purchase. Took me 5 months (from getting the first part) before they even went out, and I 'upgraded' some of my clients to the new rig, without increasing the price, JUST to get the word out that I had a bitchin' new rig. As I mentioned, though, positioning this rig in the right places, letting my production partners know it was available, etc, that all made things happen. At a show in 2015 I met the A1 for the San Jose/Reno shows, and he loved my rig, to the point where he was all "I want you at my SJ show."

So, that debt was a smart choice for me.

Back to Nathan's 4/18 comment about the show at the local college, you have to ask yourself what you'll get out of this. For just walking on (as an extra qualified person) to help with the show? May be worth it for the exposure, as now the school will know who you are. Maybe bring some gear as your "personal toolkit." Just a few vital things-- nothing major. I wouldn't drag out consoles, wireless racks, etc! Then, you also remember that next time you need something from this other guy, he's gonna be more apt to hook you up. When I do generator rentals for a buddy's company, I just about ALWAYS help push gear, setup their PA, etc, EVEN THOUGH I'm JUST the generator guy. Part of this is I get bored easily (haha) and don't want to be standing around, but part of it is that if I help them out all the time, next time I'm in a bind, they're gonna take care of me.

Eric made a great point about buying his LED wall- since they were renting it every 4 to 5 weeks -- that makes it worth it. Tim will say, "Excessive Capacity is Infinitely Expensive." In other words, that widget you bought, that only goes out once a year? Unless you paid for it with the initial rental, having it around for ONE SHOW A YEAR is downright silly. Might as well free up cash and warehouse space by renting it that one time you need it. But, if you have a need for it every month, or twice a month, or even more, then absolutely purchase it. It'll pay for itself super fast, and then it's just profit. I just bought a bunch of new sandbags and SDI cabling. To be candid, all of the new sandbags will be paid for by the end of May (3 rentals; we doubled the inventory of sandbags), and about half of the new SDI cabling will be paid for in the same period of time.

Either way, too long, didn't read-- debt is good, if it's making business sense. If you're just burning money on SHINEY NEW then you need to stop and re-consider. If you're serious about taking this into the future as a viable business, you need to buy based on what your business plan calls for.

Excuse me while I go and spend money on stupid things. :)

-Ray


We'll all get there one day :) we'll buy that Danley rig just cuz we can ;)
« Last Edit: April 21, 2017, 12:26:24 am by Nathan Riddle »
Logged
I'm just a guy trying to do the next right thing.

Nathan Riddle

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 749
  • Panhandle, FL
Re: Business Minded Questions
« Reply #194 on: April 21, 2017, 12:28:37 am »

GASP! You CAUGHT IT! lolz.

So ya[size=78%] gonna[/size]

move [/size][size=78%]here[/size][/size][size=78%] t[/size][/size][size=78%]o [/size]

[/size][size=78%]Portland, then, [/size]
[/size][size=78%]so[/size]
[/size][size=78%]I can hire ya?!?[/size]


This is a test of my theory. Seems to do the sizing.


Click in teh quoted text. Backspace. Then enter. Then backspace. Insanely annoying!
Logged
I'm just a guy trying to do the next right thing.

Ray Aberle

  • Classic LAB
  • Hero Member
  • *
  • Online Online
  • Posts: 2993
  • Located in Vancouver, WA (and serves OR-WA-ID-BC)
    • Kelcema Audio
Re: Business Minded Questions
« Reply #195 on: April 21, 2017, 12:31:26 am »


This is a test of my theory. Seems to do the sizing.


Click in teh quoted text. Backspace. Then enter. Then backspace. Insanely annoying!

Nope, not happening for me.... =-\

I hit "quote"
I click in the quoted text
I pressed "delete"
I pressed "enter"
I pressed "delete" again


.... no change, no problem here....

-Ray
Logged
Kelcema Audio
Regional - Serving Pacific Northwest (OR, WA, ID, BC)

Tim McCulloch

  • SR Forums
  • Hero Member
  • *
  • Offline Offline
  • Posts: 17529
  • Wichita, Kansas USA
Re: Business Minded Questions
« Reply #196 on: April 21, 2017, 12:41:30 am »

But anyways... [And hoping that the posts regarding technical support for the forum will get moved to a new thread...]
I'll try to clarify my comments. Yes, the quote is a bit of an exaggeration, but the point should be clear for those following along at home. If you have a piece of equipment (or system) that's only being used once or twice a year, UNLESS you are charging 35% to 50% of the purchase price PER RENTAL, then it's going to be more cost effective to just rent on an as-needed basis.

Case Study: When we provide for the Seattle Pride Parade, we bring in another company to provide lifts and flown speaker arrays. I'd LOVE to upgrade the main viewing stand to a VT4886 system. But, in order to do that, it'd cost me in the neighborhood of $75,000 to do that, and it'd only be saving me about $2,000 or so per year. So, to pay for that purchase, since I don't have any other needs for a comparable system through the year-- I'd be looking at 30 to 35 YEARS (one rental a year) to pay for it. It just doesn't make sense for me to drop that level of cheddar on a system that is only going out once a year.

Hence, the expression, "Excess Capacity Is Infinitely Expensive." Yes, I know, there's a real number involved, but in the Big Picture....

-Ray

You're right, Ray, that I phrased it get folks to THINK.  It's hyperbole from a business definition standpoint but you have exactly parsed the concept.

To expand just a wee bit I think of it like this:  even if certain capacity is 100% paid for, if that capacity is not sufficiently utilized I should have spent the money on Some Other Next Big Think that would bring income to my employer.  If it's 100% paid for and still depreciating it can offset the profits from other capacity but it still has other costs of ownership - taxes, insurance, warehousing.  People tend to forget or not consider those expenses when determining how much something *really* costs to own.

I suggest this Kindle edition for anyone who didn't take Cost Accounting in college or took it so long ago those brain cells have congealed like yesterday's gravy.

https://www.amazon.com/gp/product/B0054RGA3A/

There are probably better books (suggestions always welcome) but that covered the things I needed to re-learn.

Scott's analysis is pretty spot on, even if his posts render funny for some of you. ;)


Logged
"Practicing an art, no matter how well or badly, is a way to make your soul grow, for heaven's sake. Sing in the shower. Dance to the radio. Tell stories. Write a poem to a friend, even a lousy poem. Do it as well as you possible can. You will get an enormous reward. You will have created something."  - Kurt Vonnegut

Jonathan Johnson

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 2609
  • Southwest Washington (state, not DC)
Re: Business Minded Questions
« Reply #197 on: April 21, 2017, 12:26:26 pm »


This is a test of my theory. Seems to do the sizing.


Click in teh quoted text. Backspace. Then enter. Then backspace. Insanely annoying!
Wonder if your browser isn't working right with the WYSIWYG editor. I normally don't have the WYSIWYG editor enabled, so I see all the formatting tags.

Doesn't mess up for me in Firefox, with or without the WYSIWYG.
Logged
Stop confusing the issue with facts and logic!

Nathan Riddle

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 749
  • Panhandle, FL
Re: Business Minded Questions
« Reply #198 on: April 21, 2017, 11:55:23 pm »

Wonder if your browser isn't working right with the WYSIWYG editor. I normally don't have the WYSIWYG editor enabled, so I see all the formatting tags.

Doesn't mess up for me in Firefox, with or without the WYSIWYG.

You know what, I just turned that option off and it fixed my quote/delete/backspace/delete issues. I tested with replying to your post. Then I went to forum settings > look and layout > WYSIWYG = on -> off. Then back to thread and reply and now i'm writing this post and no issues trying to break the code exactly teh same way.

Scott, try that and see if it helps :)
Logged
I'm just a guy trying to do the next right thing.

Scott Holtzman

  • Hero Member
  • *****
  • Online Online
  • Posts: 3962
  • Ghost AV - Avon Lake, OH
    • Ghost Audio Visual Systems, LLC
Re: Business Minded Questions
« Reply #199 on: April 22, 2017, 12:00:07 am »

You know what, I just turned that option off and it fixed my quote/delete/backspace/delete issues. I tested with replying to your post. Then I went to forum settings > look and layout > WYSIWYG = on -> off. Then back to thread and reply and now i'm writing this post and no issues trying to break the code exactly teh same way.

Scott, try that and see if it helps :)

Well fuck a duck, that was it.

Now the Bold and Italic And Hyperlink

all work like they are supposed to.

For those following along at home go to profiles and change WYSIWYG settings to no.

Logged
Scott AKA "Skyking" Holtzman
River Delta Audio is now:

Ghost Audio Visual Solutions, LLC
Cleveland OH
www.ghostav.rocks
Pages: 1 ... 18 19 [20] 21 22 ... 26   Go Up
 


Page created in 0.25 seconds with 19 queries.