Fifteen years ago, an event with President Bill Clinton as the main speaker, would attract a lot of people and charging £200+ for individual reservation was quite acceptable.
Tickets would be sold in a matter of days, not weeks. Speakers of that calibre cost a lot of money (a high five figure sum or more) and the event organiser runs a risk if the tickets do not sell. You would need a good manager to handle your advertising campaign and the event venue.
It is still valuable to be entertained like this, but it is hard to persuade people to step away from their desk/office, when they have their hand full, running their own business.
Live a little, learn a lot
A few years ago, I organised a free event, and invited the product manager of a well known SME accounting software house to act as my speaker. I chose Kingston upon Thames as my venue and sent out 200 invitations, six weeks before the event. Regular reminders were broadcast. With three days to go, we hit the telephones and got 50 "Yes, we are coming" replies. I was rather embarrassed that only 12 people materialised on the morning in question.
Times are changing
TV companies have been struggling for advertising revenue for some years and business owners can now communicate directly and far more efficiently with their customers via email, UTube and the recently emerging Social Media Management tools.
40% of start ups do not survive three years.
It takes a special attitude and mental flexibility to run a small business. Yes, you have to be a jack of all trades:
- Managing your customers and their needs
- A broad range of products and services available for them to buy regularly.
- Knowing your sales targets and profit margins, otherwise their will be no bread on the table at dinner time.
- Organising your own admin, bookkeeping and making sure the tax return and other statutory responsibilities are managed in accordance with current legislation.
Yes it will come, but much later, when you have a steady flow of regular customers who trust you to deliver on time, every time.
Self-employed - it is not a 9 to 5 job...
Listening to friends and family is valuable, because it is all too easy to get trapped into believing you know every answer under the sun. I don't and admit freely there have been ups and downers since I became self employed in 1993. It keeps me on my toes every day and it remains for me a constant love-hate relationship!! It is the sense of being independent and my own boss, which keeps me motivated.
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