70% of something is better than...

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Fred Wright

Fred Wright

Administrator
Staff member
Aug 7, 2006
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Delaware, USA
www.nwedj.com
100% of nothing.

Supposing your rate is being undercut. What do ya do? Do you take a pay cut and figure that 70% of something is better than 100% of nothing?

This ought to get a good debate going. :D
 
I feel some charts coming on :sqlaugh:
 
I'd look at each date on a case by case basis.

If I had confidence that a date would fill with a regular price booking, I wouldn't persue a customer seeking a lower rate.

If the date in question was not likely to book with anything else (for me, that would have been Friday night or Sunday afternoon) then sure, why not? Take the money, pay some bills with it and move on.

It all depends on the popularity of the date in question.

Now, if you find yourself regularly losing gigs to lower priced competitors, and your schedule contains far too many openings for your liking, then you'd need to sit down and write a pro and con list for adjusting your rates to market conditions.

Supply and demand drives this home. Virtually every industry in the country in every market is ruled by this simple doctrine. I recently heard of a car company running a promotion reducing the prices of 2007s to 1999 advertised prices. Might they have a hard time clearing out the lot to make room for the next year's models?

Supply and demand.
 
70% is 3/10 shy of getting me to spend what precious time I have away from my family.



Just my 2%. ;)
 
Fred,

Based on the premise in post #1.

70% of something still guarantees that someone experiences 100% of nothing.

When the cycle repeats itself...70% of the new 100% which is the former 70%, isn't worth much. (approx 49%)

Sadly, MDJs...unlike any other sensible industry can comprehend where the venture cannot self sustain itself. The false hope that many cling to is that MDJs will wander off when they don't get their bookings. When in reality, they become the very person that will to take 70% of someone elses rate...hoping the other will wander off.

Add to that mix the upstart MDJ that offers loss leaders for their service and the process accelerates.

Hence the race to zero.
 
There really there are no right or wrong answers?

I will take a booking sometimes when I'm bored.....You can only play so much golf.......It's fun to do a party, play some music, have a good time......

The above does not fly for someone trying to make a living as a DJ, with no regular day job....... ..the so called Full Time DJ.

So for me sure, 70%, 60%, 80% of something is better than sitting home watching Law & Order Re-Runs...............
 
If everyone in this predicament held out for top dollar, and they didn't work for 6 months, what's the point?

They're in the poor house over a principle while someone else is able to put food on the table.

I've had guys over to the house to do work and instead of a flat "cannot be negotiated" figure, I get a "tell you what, for XXX dollars, I'll do the job."

Self-employed people who rely on their self-employment to feed their families see the world differently.

Try going to the supermarket, putting a cart full of food on the line at check out and get to the register and tell them you don't have the money, but you sure were worth it holding out for your top dollar at gigs where you could have earned something.

And tell me if the food ends up in your car or back on their shelf.

It's one thing to be smart about one's business. It's another to be so consumed by your smarts you fail to see the big picture which isn't "hold out for top dollar" but "earn a living."

Gimme 70% of something every time. I didn't mind spending time away from my family when I would come home with grocery money or a car payment or a new bicycle for a few hours work.
 
100% real offer always beats 70% of an ego

I really can't relate to the scenario. If you tell me you want to spend $XXX then I consider that 100% of your offer.

When price is a concern for someone, I look at it in very simple terms:

They are offering a particular fee for a job they need done. I can either accept it or decline it.

Only two things matter:

- Is there a sufficient benefit in taking this work?
- Can I successfully satisfy their needs at this rate?

If I can do the job, do it well, and retain the money without sacrificing some other income then I may accept.

If I see too much risk, additional cost, or poor representation then I would likely decline.

As John said: case by case.

My only concern is which jobs I take - not how many I can keep away from competitors.
 
@@

Proformance said:
If I can do the job, do it well, and retain the money without sacrificing some other income then I may accept.
Click to expand...

Bob, I have been hoping to find something that we can agree on. Oddly, you've written something that I can agree with. Being profitable relies on not sacrificing other income.

Yield can drop as rates rise. Overcoming that drop with up sells can "fill in blanks" by a yield shortfall. Understanding those costs of production is key to avoiding an income sacrifice. Relating those needs to ones rate "internally" simply requires good bookkeeping.

Scintillating as our debates may be. There are many more other thoughts that get squelched by our discussions. If we ever meet in person...I will extend my hand for a gentlemanly handshake. Life history has put each of us where we are at today. Language & definitions are another source for our disagreements.

Antipathy will get us nowhere. Not saying that we have to agree on anything.

Assiduous to a fault might be a proper term. Simply saying that your statement above is one that I can agree with. Sacrificing income should always give someone pause for concern.
 
Dude Walker said:
Bob, I have been hoping to find something that we can agree on. Oddly, you've written something that I can agree with. Being profitable relies on not sacrificing other income.
Click to expand...

Dude:

You and Bob have more in common than either of you care to admit.

When Bob and I first met on this board we had a clash. Now, I listen to his arguments witrh an open mind. The guy is smart and has a level head.

You are smart and level headed as well.

Both of you bring great information to this board.

Just had to say it.
 
jfactor1 said:
70% is 3/10 shy of getting me to spend what precious time I have away from my family.



Just my 2%. ;)
Click to expand...

Jay I don't know your situation, but if you also work another job besides djing yes I agree. But if all you do is dj this is the one or two nights that we work. No matter what we do to make a living we will always be away from the family in some capacity.

Now if all you do is dj and all your dates arn't filled and something pops up that you know you won't fill then 70% will pay some bills. We still owe it to our selves and our families to provide the best that we can.
 
I'm not sure I could afford to make 70% of my rate :sqembarrassed:

But yeah most nights I would if not booked
 
Do you really agree?

Yield can drop as rates rise.
Click to expand...

..and rates can drop while yield rises.

It means I might take a job for $200 because it is short, easy, available, and convenient.

If your on the outside of that deal you're going to claim you lost that job to a bottom-feeder, but the truth is you lost it to an excellent DJ who just happen to be in a better position to accept their offer.

So if you truly agree with what I said, and that describes your inclination when this sort of job pops up - then admit that the next time you go off about "unscrupulous" DJs you could very well be talking about yourself !
 
the dogman said:
Jay I don't know your situation, but if you also work another job besides djing yes I agree. But if all you do is dj this is the one or two nights that we work. No matter what we do to make a living we will always be away from the family in some capacity.

Now if all you do is dj and all your dates arn't filled and something pops up that you know you won't fill then 70% will pay some bills. We still owe it to our selves and our families to provide the best that we can.
Click to expand...

I agree completely. If you're FT and arent working, you need to be more agressive at filling dates. Ya gotta eat!!!

I have the luxury (if you can call that) of not relying on DJing as my only source of income at this point.
 
Bob:

Here's a great example of what you are talking about.

This past Saturday I had a mid-morning wedding that ended at two which left my evening open. The venue for this wedding was about ten minuets from my house.

Thursday I got a call from a lady planning a retirement party for Saturday at 6 but all she can afford is $250 and it is less than five minutes from my house and I'd be home by four anyway.

I took the event.

I was mostly background at the second event until about a 1/2 hour till the end. The venue was theirs till midnight and the guests passed the hat for an additional $500. I told them that they only owed me $300 but they told me to keep the $200 as a tip.

I walked away from the second event with $750 cold, hard cash in my pocket. $750 I would not have had if I had not taken the event.
 
@@

Proformance said:
Dude Walker said:
Yield can drop as rates rise.
Click to expand...
then admit that the next time you go off about "unscrupulous" DJs you could very well be talking about yourself !
Click to expand...

Do you really think that parting shots are necessary. I understand what unscrupulous means...and how it applies to the subject matter. Creating business related problems is what the unscrupulous DJs do. Knocking the idea that they create problems is ignorant. "Honorable" is not a matter of convenience. Everything that we do it little...we do in great. Aggreement on my part was laid out in my last post. Doth thou protest...too much?
 
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