Examine Your Margins

June 18, 2017 by Jason Weldon

I was speaking with a wedding business owner the other day about the leads the company was getting. We were discussing the type of lead that was coming in and how this particular company was pretty much saying yes to every lead that was “reasonable” to their margins. This got me thinking, and I feel a need to address the idea that all business is good business, and that anyone that has a realistic budget that calls you should be your customer.

We all know the basics of this. Laugh off the prospects with the totally low budgets and wish for the ones that have the high budgets. However, I am more worried about the “average” to “just below average” prospects that you might be thinking are actually good work. But are they, really?

The following exercise should be interesting: Take all of your jobs and looked at them from the perspective of price point. Throw away the top 5% and the bottom 5%. Take a look at the remaining 90%. What numbers do you see the most? Next, what is the average price? Those two numbers are probably pretty close to being the same. You probably knew that before you even did the math.

Read the rest of this article and check out the full issue at https://www.mobilebeat.com/emagscurrent/182

Jason Weldon Jason Weldon (45 Posts)

Filed Under: 2017, Mobile DJ Business