Know how much you need to make: A story

Knowing how much you need to make is  large topic and I will need to break it down into several different posts.  This first one is simply a story to reflect how it matters.  

One of our clients, fairly new at the time of this occurrence, was considering traveling overseas for a gig to a market where they were worth approximately 1000 hard tickets.  This particular gig was a soft ticket performance.  The offer came in at $15k.  The manager approached me and asked whether the band could do this gig, a one-off, and still come out profitable.  I ran the numbers quickly and found that break even, with a small percentage for contingency built in, would have been $17k.  I came back and gave the manager this news.  He informed me that he thought the $15k was the high end and that the offer wouldn't get any better.  I gave my best advice: "The fact is that the band will not be able to pay themselves at $15k but all other expenses would be covered, at $18k they make a modest payment for themselves, and $20k all is good.  I would go back to the agent and ask for $20k and explain why and then see what happens."  3 hours later I got a text from the manager that they were able to secure the gig for $20k.  They got this because they weren't negotiating just for the hell of it (which is fine too) but because they understood their needs and were confidently able to convey those to all parties involved.  Though I was just one small part of the machine, I was able to help manifest an additional $5000 for the band in 20 minutes of budgeting.

Moral of the story: Know how much you need to make to have your needs met.  

For future discussion: But HOW do I know how much I need to make?! 

Squeezing The Show - Tour Marketing e-book (free download)

In a previous company I co-founded, The Artist Farm, we managed touring artists and my partner and I were fresh off of working at Red Light Management as day-to-day managers for the likes of Los Lobos, North Mississippi Allstars, John Butler Trio, and Yonder Mountain String Band.  We devised a system of marketing tours that now, in 2017, looks a bit dated as far as the technology goes, but is still fundamentally strong as it relates to the timelines and the general activities.  This brief e-book will provide you with a framework of how to think about marketing shows.  Grab the book at the link below.  Enjoy!

Squeezing The Show e-book