Brand performance can be both sticky and sweet at the same time. You want to make your brand sweeter, but sometimes only the sticky truth can get you there. That is why we turned to Edwin Miranda for some advice on how to achieve those goals.
1) The volume has to be there to make it worthwhile, according to Edwin Miranda. You have to have more than one or two people interested in what you offer to make money.
Someone recently told me their volume orders are higher than usual right now. That means products meet the need for a lot of people, especially when they add more than 80 new items to their online inventory.
That is the type of business you need to be doing on a regular basis, according to Edwin Miranda.
In other words, do you offer something rare that no other person does? An example of that would be a person who sells music DVDs for performance artists. Do you offer DVDs that are rare and hard to find? Do you have the type of artists that fit every genre and almost every client type? That is a great example of someone who has sustainability, according to Edwin Miranda.
Customers know they can come to you because you offer rare music performances for artists that encapsulate every music genre, including titles from Madonna to Motorhead.
3) Do you have a solid profit margin? Your profit and loss statements should tell you everything you need to know. Your profits need to be enough to be better than breaking even each month.
Gross income- taxes and bills= net income.
Your net income needs to be enough to keep you afloat no matter what the economic climate is.
Clay Hutson has a pretty interesting career. He owns a live entertainment production business that primarily works with musicians, although he also manages other types of events. His company is based in Nashville, Tennessee, and has been in operation since 2009. Before starting out in the music industry he completed a college degree in theater design. He also put in time working on a couple of Billy Graham national tours before switching over to rock music, his true passion.
Some of the big names that he has gone on tour with are Guns N’ Roses, Kid Rock, and Pink. He designs produces and manages their concerts over the course of an entire tour. One tour that Clay Hutson recalls really enjoying was the “Bleed Like Me” 2005 world tour that Garbage put on. He says he went across the United States, Canada, Europe, and Australia while working on this tour. At that time he was working as a monitor engineer. Another international tour he was on was the 2017 OneRepublic tour that had concerts in both North America and Asia. During this tour, he handled the automatic rigging system.
Clay Hutson says that the last recession had a big negative impact on his employer at the time. Since he had developed all of the marketable skills he needed to have success in the music industry he decided the time was ripe to start his own business. His experience gives him the ability to see what is feasible and what is just an unrealistic pipe dream when it comes to things such as the set design.
Computer-aided design plays a big part in what Clay Hutson does for a living. Before a tour, he will get the measurement details for each concert venue and then use a CAD product where he inputs these numbers. He says that sometimes they will have to forgo some really good and innovative equipment simply due to the fact that it’s too big to get in some of the venue’s entrances. It’s by paying attention to details like this, and routinely checking all of his work, that Clay Hutson has developed a solid reputation in his industry.