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MOM Update
 
Check
the "Links, News & Events" page for a schedule of our 2009 Holiday
Hours
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We’d
like to thank those who participated in our last contest. We
only gave you a short 2 week notice, but we still had lots of great
entries come in. Let’s here it for David Baker, who
once again sent in the winning entry! David has been a
regular participant in our contests, and we see nothing but great
things in his future. In fact, David is turning his contest
winnings into a beginner to intermediate class, which we will certainly
report on as it develops.
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Why
a Down Economy is Good for Business
by Steven Jones,
FLOATtheConvention.com
2009 hasn't exactly been a
stellar year for most businesses, and the balloon industry is certainly
no exception. Let's face it; when the economy is bad, luxury items tend
to get tabled until financial times get better. And unless you're
selling groceries, utilities or gasoline, chances are you've not been
seeing record sales levels this year,unless you're referring to record
lows.
Here's
something else that's probably not a news flash to you. It seems like
everyone in the balloon world, both decorator and entertainer alike,
have found themselves working a lot harder for less money. Economists
since January of this year have been encouraging buyers to press
retailers and service providers to reduce their prices through
bargaining and negotiation. With declining sales, buyers know they can
turn the screws and get lower prices with businesses desperate to bring
in revenue.
Despite
slumping sales, these are exciting times to be a small business owner.
The ups and downs of this roller coaster economy may keep us up some
nights, but they can also be just what we need to catapult to the next
level. Let's look at a few ways struggling to succeed in times like
these can be a very good thing.
1.
Time to Wake Up!- The reality is there may have been problems in your
existing business that you were unaware of when times were good. Maybe
you were sloppy with your spending because there was always money
coming in to cover whatever you splurged on. Perhaps you didn't pay a
lot of attention to the essentials because you were busy all the time.
And possibly you weren't devoting enough time to marketing yourself.
After all, when you're constantly busy, you don't think you need to
continue promoting yourself. Sometimes people get relaxed and "ride the
wave" as it were while times are good. The problem is the wave ALWAYS
crashes in the end, and if you haven't been looking around you won't
know where the next one is coming from to keep that ride up.
The
bad economy has been a wake-up call for a lot of businesses across the
board. Many have realized it's not business as usual any more, and
every little action your company takes can have an impact on your
overall success. Tough times are good for snapping yourself out of the
dollar doldrums.
2
. Evaluate and Exterminate - Now that you're paying attention to every
little thing your company does (or doesn't do), it's time to figure out
where you can make improvements. As with any wound, you've got to stop
the bleeding before you can heal. Business gets bad because you have
more going out than coming in, so you have to stop and assess where you
can cut costs.
Maybe
you don't place product orders efficiently, placing multiple orders
each month when you could have condensed them into one or two. Are you
really being as conservative as you can with electrical devices and
equipment, or are you gobbling up power needlessly by leaving chargers,
equipment, lights and the like running constantly? Are you being smart
about how you drive, combing outings and errands instead of multiple
trips? This all may seem like common sense stuff, but it's amazing how
quickly all these charges add up VERY quickly to big bucks on the bills.
Once
you've found out where you might be overspending, it's time to cut it
out! By lowering your output cash-flow wise, you're allowing yourself
to cope better with lagging sales.
3.
Explore Old and New Options - Did you once offer a service that never
seemed to sell, so you stopped doing it? Now may very well be the time
to try it again! What was true six months ago isn't always going to be
true, so maybe it's time to bring some of those old ideas out of the
moth balls and put a new spin on them.
Maybe
now is the perfect time to try a new direction with your business. Are
you an entertainer who turns down decorator inquiries? Maybe you should
take a class and learn some basic decor techniques so you can expand in
that direction. Perhaps it's time to consider offering other
entertainers as sub-contractors within your ranks. Many have found
success by offering marketing imprinting options that they can offer to
their clients, like promotional pens, t-shirts and yes, balloons. Still
others have expanded into equipment rentals, basic lighting, linen
services and such, all related to events and all things their clients
find themselves in search of.
4.
Schmooze fest 2009 - There's an old saying, "If you market enough
during the down times, you won't have any more down times." So get off
your butt, get out there and meet people! We all know that the number
one, most reliable form of new business is word of mouth. Nothing
carries more weight than if a friend or someone they trust tells them
to hire you. So the more friends you can make in the event world, the
better! And no one says you have to spend money doing it. Take time to
visit with local event venues and service providers. Yes, tell them
about yourself but remember, they want you to refer them as much as you
want them to refer you so be sure to listen to what they actually do
and what they have to say. Best part about it is, it's completely free.
5.
Education is King (But WHAT You Learn Matters!) - Yes, it's awesome
that you just figured out how to make that cool new monkey design, but
if you have no customers, who are you going to impress with it? Down
times inspire us to want to learn more things and we presume that will
make us better in business. But the truth is we have to know HOW to
sell it if you're going to be successful with this new knowledge.
Conventions
like FLOAT (www.floattheconvention.com) and Twist and Shout
(www.balloonconvention.com) are wonderful sources of information for
any balloon professional, but don't be too tempted to only take the
classes that teach you how to make cool things. Look into the business
classes and evaluate where you can improve your bottom line so you'll
have more clients to impress with that cool monkey.
FLOAT
this year offers three really dynamic business education opportunities.
Gary Ledbetter, CBA, is offering his "Pricing for Profit" class where
he demonstrates how so many people poorly price themselves, and thus
find themselves in the poor house. Melissa Gjergji, CBA, is offering
"Spectacular Special Events" where students are not only taught how to
approach large events and venues but how to properly sell them and
up-sell them as well. And FLOAT producer Tina Sharp is offering the
"Business and Bookkeeping Help Desk" all day on Friday, November 6,
from 9:00 AM to 6:00 PM. Delegates at FLOAT are welcome to speak with
Tina during one-on-one sessions and ask questions covering a wide range
of business topics from taxation (Tina holds a Masters Degree in
Taxation and was a former auditor for the state of Ohio) to bookkeeping
to websites to marketing to basic business plans.
This
year's Twist and Shout Convention also shares in the "business
first"mentality as well. More on those classes will be available as the
convention gets closer.
6.
Remember the Alamo - OK,maybe this is a weak excuse for a reference,
but once you've made all these changes to your business, don't throw
them out the window when things start to pick up again. Remember, you
were able to climb out of the hole by these new actions; failing to
maintain them could force you right back down again. Never forget that
the economy is an entity all its own. It lives, breathes, climbs and
falls because of millions of factors neither you nor I control. And you
can't make people feel good about it unless you're Warren Buffett, so
always remember that things WILL drop again after they go back up. This
time though you'll already have a ladder in that hole so you can climb
out if you find yourself back in it.
I
know first hand that when things are bleak, it's easy to get
discouraged. But remember, good things often come from bad experiences.
Make the downturn of 2009 work FOR you, not against you.
Thanks
for listening.
Steven Jones
AerationDecorations.com
AeraDecoVideo.com
FLOATtheconvention.com
(513) 761-2602 |
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As we go into
the holiday season, we here at T Myers Magic Inc want to wish all of
you a very safe, busy, and prosperous season! We do have some
exciting news in the works . .. a real possibility of a T Jam On The
Road rolling out! Sorry, but just a morsel for now with much
more to come as it solidifies. Be sure to keep an eye on our
Home Page, as well as the new “HP Continued” page
(in the Departments section on the left side of the page) for important
updates and interesting articles.
Joining
us on MySpace at www.myspace.com/TMyersMagic with
the latest news, pictures and information, and http://twitter.com/TMyersMagic
on Twitter for real time updates on contests, travels, and important
issues for entertainers. To
view past articles and contest entries please view the Blog section on
the T Myers MySpace Page. Be
sure to send your pictures to *photos@tmyers.com so we can
showcase your work and talent with other twisters!
As always ~ Happy Twisting, Gus Davis
T Myers Magic |
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| *By emailing your photo you are agreeing that T
Myers Magic Inc. has permission to post your picture on the websites
listed above. T Myers Magic Inc. will not use these photos for any
other purpose without the consent of the contestants. Prizes can not be
mailed overseas, but international customers are encouraged to
participate, we will find alternatives for prizes being offered.
Judging will be done by T Myers Magic Inc.’s staff; flattery
on the phone and in email can’t hurt. | | | |
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BEST SELLERS |
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