70% of something is better than...
- Thread starter Fred Wright
- Start date
Care to elaborate a bit?
Joe said he'd rather shut it down than consider a price adjustment to meet market demands.
I offered an alternative to that line of thought. As in stay in business and do something about your situation rather than just fold your tent and walk away from something you love doing just because you were unwilling to consider a price adjustment, given the reduced costs of running the business now as opposed to 15 years ago.
Hell, I'd do it if I had that option.
Joe said he'd rather shut it down than consider a price adjustment to meet market demands.
I offered an alternative to that line of thought. As in stay in business and do something about your situation rather than just fold your tent and walk away from something you love doing just because you were unwilling to consider a price adjustment, given the reduced costs of running the business now as opposed to 15 years ago.
Hell, I'd do it if I had that option.
You sounded like Proformance. That's why the laugh.
Ok, If your serious.
I'll sound like Dude Walker.
Plan and simple. If someone else cuts rates to get a job. You cut to get the job, they cut to get next job. What you gonna do, cut again, and again???
There comes a point in time when you have to stand up and say your time, talents, and experience are worth something.
I honestly wonder after all is said and done, if most people would be better off working at Mcdonalds. If we honestly consider all the time we spend studying, working on bettering ourselves, learning, etc. I bet most would be more profitable, especially when we as an industry are so ready and willing to whore ourselves out to the lowest bidder.
Will you be willing to take a pay cut at your "full time job", just to keep your boss happy in his new home? and make sure he gets his "bonus" at end of year???
Like I say, to hell with the client education. We need to educate ourselves.
Ok, If your serious.
I'll sound like Dude Walker.
Plan and simple. If someone else cuts rates to get a job. You cut to get the job, they cut to get next job. What you gonna do, cut again, and again???
There comes a point in time when you have to stand up and say your time, talents, and experience are worth something.
I honestly wonder after all is said and done, if most people would be better off working at Mcdonalds. If we honestly consider all the time we spend studying, working on bettering ourselves, learning, etc. I bet most would be more profitable, especially when we as an industry are so ready and willing to whore ourselves out to the lowest bidder.
Will you be willing to take a pay cut at your "full time job", just to keep your boss happy in his new home? and make sure he gets his "bonus" at end of year???
Like I say, to hell with the client education. We need to educate ourselves.
DJ Gray...I will take a booking sometimes when I'm bored.....You can only play so much golf
that statement is wrong in so many ways!
But I thinks it is okay 70% of something is better than nothing on a short time gig, a call 3 weeks or less out.... but not far in advance...
It is better than sitting home watching reuns of Rerun....
that statement is wrong in so many ways!
But I thinks it is okay 70% of something is better than nothing on a short time gig, a call 3 weeks or less out.... but not far in advance...
It is better than sitting home watching reuns of Rerun....
1) Case by case basis. I believe I said that in another post somewhere.
2) If someone else cuts rates to get a job, and they get the next job, then the next, if your market isn't bulging with gig opportunities, your choices are clear: adjust or close. It depends on the individual owner, but if it were me, I'd adjust.
3) And Chuck is right. Short notice, sure, why not be competitive. Long range inquiry, stick to your rate. Case by case basis.
Do you think that possibly that lower 70% job could be undercutting another contract??
(yes, I have a reason to ask).
(yes, I have a reason to ask).
This percentage thing tends to boggle my mind, so try this one. The average bride/groom in this area make about $11.00 per hour X 40 hours thats $440.00 gross a week. About $375.00 take home a week. If both make that, thats $750.00 a week. Now if you charge $1500.00 for your service you have just asked the bride/groom to spend HALF their take home income from one month on you.
Now we all know that more and more brides/grooms are footing the bill for their own wedding. And from a financial stand point that doesn't make sense. But because we are professional, have professional gear, have back up equipement, have insurance, have quote legal music blah blah blah blah blah. We believe that we must remain true to the principal of the higher rate and not come down or we will go to Zero....huh. Mom use to have a saying wish in one hand and crap in the other see which fills fastest. In other words if push comes to shove, do I stick to my principal or do I feed my family, feeding the family will always come first no matter WHAT PERIOD
Now we all know that more and more brides/grooms are footing the bill for their own wedding. And from a financial stand point that doesn't make sense. But because we are professional, have professional gear, have back up equipement, have insurance, have quote legal music blah blah blah blah blah. We believe that we must remain true to the principal of the higher rate and not come down or we will go to Zero....huh. Mom use to have a saying wish in one hand and crap in the other see which fills fastest. In other words if push comes to shove, do I stick to my principal or do I feed my family, feeding the family will always come first no matter WHAT PERIOD
Don don't take me wrong I'm with you on this but looking at the other side of the coin
1 week salary for a chocolate fountian
1.5 months salary for a modest dinner
1.5 months salary for a dress
1 weeks salary for tuxes and thats rental
1 months salary for a reasonable Photographer
1 months salary for a decent Videographer
6 months salary for the ring
I figure what I do should be worth at least 1 week or 2
Mind you in my market they have me covered by Thursday :sqconfused:
Jeff I don't totally disagree. I'm getting a week and then some. I think we all realize that some markets are more depressed than others. So thus as a business owner you have to make decisions that are based on the survival of your business. In another thread its been said weddings are down, yet from what I can read the cost of weddings are up, are the two linked, possible.
In the auto industry as the price of autos went up fewer people could buy them each year, or for those that made the purchase every two years they prolonged it to 3 to 4 years for the next purchase. This provided a downturn in the industry. One of the reasons is that the employees fought and won for better wages. This was back in the 70's when the market would fall the layoffs would begin. Now you hear about big bonuses and huge company profits and there is no way I could afford the big price on auto today. I don't have a problem with people wanting to make a decent living but every time you get a pay raise it has to come from somewhere and that is the price of goods or services.
The wedding industry is beginning to take more and more to put on the DREAM WEDDING. Why because a dream requires a professional and that cost money, so say some people. Only you as a business owner do you know your break even or profit margin. When I hear the "quote" full time djs saying charge more and work less:sq err::sq err: I don't understand. Could you make a smaller margin...meaning lower price and work more dates...you are doing this for a living aren't you? This is your JOB ISN'T IT I'm a simple man with a simple plan. To earn a living and provide a great evening for each and every client. So if that means that every once in awhile I reduce a rate to book a date then so be it.
I believe that every bride/groom deserve to have not just a good wedding reception but a great one despite the cost, maybe I'm living a different dream but at least I'm making a living doing something I enjoy.
I don't believe Fred said every time just on occasion and to me that's a show to show call.
You're not the devil. You're a smart person who can obviously "do" rather than simply "dream".
I got a post card in the mail yesterday from a would be DJ "coach" who says he wants to teach me how to take in $141,000 /yr as a single-op with his "secret" marketing plan.
I've read post after post from people who tell me if I work 1 wedding a week for $1200 I can take in $60,000, or just 30 weddings /yr for $5000 and I'll have $150,000.
Well, I am a single-op - but I'm not interested in a taking a pay cut.
$60k Net is not enough to make my mortgage payments.
$141K Gross would be a 35% cut in revenue.
$150K ?? That's a lot of tread-mill running for a measley 30 one-time clients.
Why do you suppose the guy behind the post card campaign is more interested in selling his idea than actually practicing it?
If these are smart ideas why sell them in a pond of DJs when there is a sea of other businesses out there?
It's because you can find more suckers in a swamp. Wake up people it aint that complicated, and there's no one else to blame.
Ok, you win Bob -- I'm easy. Go back to your law practice, and arguing with Dude
You actually missed my point though, which was people in many industries, would kill for an unregulated industry, such as we have.
We have the ability to make the decisions on how much we charge, whether we carry insurance or not, what type of gear, blah, blah, blah.
That also gives us the option of taking 70% of our rate if we choose to, when we choose to, if we need to eat (which I occasionally like to do)...
I was reminded of that this weekend, as we were having a big yard sale. Option 1) Would you take $10 for that? Option 2) Pay somebody to take it to the dump for me.
I got $10 more in my pocket
1) I'm doing that already. Hence, my infamous "Back-end Principle". I just have HUGE goals...:sqerr:
2) I do that some myself.....
Hmmm...
Why not drop health care to meet the market price norm...
Why not send your kids to bed hungry to meet the market price norm...
John,
You're kidding right. Oh, that's right...you're playing devils advocate!
Those same MDJs that could barely eek a poverty level income are now supposed to lower their rates because it's cheaper??
How about allowing the MDJ to get ahead...rather than lowering their rates to an equivalent level to their previous level of poverty.
MAC & CHEESE ain't free...!
The back door principle (IMO) is a big contribution to the death of jobs and America itself.
Meat needs fat to add flavour. Sure too much isn't healthy, but continually cutting and cutting you are going to get to meat.
Look at all these businesses that have no fat. Razor thin profit margins already.
What is going to happen to them all when, not if, when this country does go into a recession, or worse, a depression? There is no more fat to trim. Cut meat, jobs for you and me.
Think about "what if". Too many people live for today and forget about tomorrow. While today may be a gift to be enjoyed, try a little planning for tomorrow.
When tomorrow comes... Will it still be a gift, or the payment for your yesterday.
Try opening your eyes to more than what is happening in your house. Look across the street, across the city.
Meat needs fat to add flavour. Sure too much isn't healthy, but continually cutting and cutting you are going to get to meat.
Look at all these businesses that have no fat. Razor thin profit margins already.
What is going to happen to them all when, not if, when this country does go into a recession, or worse, a depression? There is no more fat to trim. Cut meat, jobs for you and me.
Think about "what if". Too many people live for today and forget about tomorrow. While today may be a gift to be enjoyed, try a little planning for tomorrow.
When tomorrow comes... Will it still be a gift, or the payment for your yesterday.
Try opening your eyes to more than what is happening in your house. Look across the street, across the city.
Dude, (moderator edit), I was offering a partial solution, not the end all and be all. If a business is unable to raise their gross, in order to remain viable, then they must cut costs.
(moderator edit)
I am sorry if I am not as smart as you, but until I got sick, I was running a pretty damn good and profitable DJ business out here in a very competitive market.
I wasn't the most expensive, I wasn't the cheapest, but I was making a decent living, realizing a higher percentage profit margin in the last few years than ever before.
Not pure profits (which went up as well) but profit margin with net as an increasing percentage of the gross.
(moderator edit)
But (moderator edit) I can sleep better at night, knowing that, while my days on the Earth may be limited, they will not be spent being (moderator edit) as you are.
It's one thing to debate an issue. It's another to exhibit such an air of condescension and arrogance like yours.
(moderator edit)
(moderator edit)
I am sorry if I am not as smart as you, but until I got sick, I was running a pretty damn good and profitable DJ business out here in a very competitive market.
I wasn't the most expensive, I wasn't the cheapest, but I was making a decent living, realizing a higher percentage profit margin in the last few years than ever before.
Not pure profits (which went up as well) but profit margin with net as an increasing percentage of the gross.
(moderator edit)
But (moderator edit) I can sleep better at night, knowing that, while my days on the Earth may be limited, they will not be spent being (moderator edit) as you are.
It's one thing to debate an issue. It's another to exhibit such an air of condescension and arrogance like yours.
(moderator edit)
John,
Dude may not be tactful with his posts, but he has a very good point that America needs to see.
We are totally brainwashed into "cut, cut, cut" to make it.
Cut driving to save gas. Cut entertainment to save money. Cut benifits to save jobs. Cut jobs to save a business.
It is bull. Where are you, me, and America going to say stop!!! WE keep doing the cutting! Where are any of THEM going to do the cutting!
I don't see ANY politicians, democrat or republican taking any pay cuts or benifit cuts. "I feel your pain"! Bull crap!!! If they get called in to "special session" they get paid for overtime. I don't see any big business talking heads taking any pay cuts. Sh** they get more money the more they make you bleed.
If I keep cutting, I will bleed to death!!
Dude's comments were might seem drastic, but are they really? Where are we going to draw the line on cut???
If you were to loose your job today. No income. How long truly could you survive? Week? Month? How long before you would be so far behind it would take months or years of "more cuts" to get back to where you are now, if ever?
I myself am friggin tired of mac and cheese, hot dogs, and hamburger helper. I want some damn steak!
Face the facts. Unless we start standing up for ourselves and our kids futures, we will become nothing more than endutured servants. Owe the credit card companies, owe the bank, owe the grocery store. Owe everybody but ourselves.
Work for a living or live to work.
The credit card companies are already trying to phase out cash. Just look at the visa commercials. Write a check or use cash and "the cute music stops, pretty flowers die, and life comes to a halt? Orwellian? Far fetched??
Not really, if we open our eyes and look around.
Dude may not be tactful with his posts, but he has a very good point that America needs to see.
We are totally brainwashed into "cut, cut, cut" to make it.
Cut driving to save gas. Cut entertainment to save money. Cut benifits to save jobs. Cut jobs to save a business.
It is bull. Where are you, me, and America going to say stop!!! WE keep doing the cutting! Where are any of THEM going to do the cutting!
I don't see ANY politicians, democrat or republican taking any pay cuts or benifit cuts. "I feel your pain"! Bull crap!!! If they get called in to "special session" they get paid for overtime. I don't see any big business talking heads taking any pay cuts. Sh** they get more money the more they make you bleed.
If I keep cutting, I will bleed to death!!
Dude's comments were might seem drastic, but are they really? Where are we going to draw the line on cut???
If you were to loose your job today. No income. How long truly could you survive? Week? Month? How long before you would be so far behind it would take months or years of "more cuts" to get back to where you are now, if ever?
I myself am friggin tired of mac and cheese, hot dogs, and hamburger helper. I want some damn steak!
Face the facts. Unless we start standing up for ourselves and our kids futures, we will become nothing more than endutured servants. Owe the credit card companies, owe the bank, owe the grocery store. Owe everybody but ourselves.
Work for a living or live to work.
The credit card companies are already trying to phase out cash. Just look at the visa commercials. Write a check or use cash and "the cute music stops, pretty flowers die, and life comes to a halt? Orwellian? Far fetched??
Not really, if we open our eyes and look around.
Jon Tuck,
No problem here.
I'm just surprised by the immaturity John Allo displayed by his previous response and the other Dude Walker website thread that he tried to start.
No problem here.
I'm just surprised by the immaturity John Allo displayed by his previous response and the other Dude Walker website thread that he tried to start.